Psoda records impressive growth

8 May 2013

Psoda records impressive growth

Psoda, a world class cloud provider of portfolio, programme and project management tools, today announced another year of strong revenue growth. Year-on-year revenue increased by 59%, driven by both an increase in new customers and also through the extension of current customer contracts.

Further strong growth is expected, particularly given the large market opportunity for Psoda. According to Gartner the cloud PPM software market is estimated to be worth $1 billion globally.

Software as a Service (SaaS) delivery will significantly outpace traditional software product delivery, and with this continued trend in the market towards cloud solutions, Psoda is uniquely positioned for continued growth.

“Project teams are looking for consolidation of their information and expect increased collaboration, especially when teams are in disparate locations. Cloud based software, accessible via the internet provides a perfect solution for today’s world – and all without undue risk of information security issues”.

“Cloud-based PPM tools give customers a rapid return on investment with minimal cost outlays. Our growing customer base in New Zealand, Australia and overseas shows that cloud-based solutions are here to stay,” said Bruce Aylward, CEO of Psoda.

Psoda's success has been recognised by industry experts. In 2012, Bruce Aylward was recognised as the Emerging ICT Leader of the Year at the CIO Summit in Auckland.

“In the current economic climate there is increasing demand for both transparency and governance of programmes and projects, without spending huge amounts of money on tools to support this. You can understand why when in New Zealand alone $1.6 billion is wasted annually on projects going over time and budget," states Aylward.

About Psoda

• Psoda is a trusted solution provider, with a proven track record of adding value to organisations of all sizes.

• Leaders in the space since the dawn of Cloud computing, customers can be confident of robust and secure solutions.

• Psoda is more than software. Customers can expect excellence in support services and a team that truly goes the extra mile.

• Psoda has a broad range of customers including New Zealand Transport Agency, Auckland Transport, Transport NSW, Foodstuffs Wellington, Hutt Valley District Health Board, Capital and Coast DHB, ACARA, Transpower, TrustPower, Meridian Energy and others.

www.psoda.com

ENDS

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