FY 2010 Revenue Doubles Through SaaS for IT

Service‑ year‑over‑year recurring revenue doubles for fifth consecutive year

SAN DIEGO ‑ Sept. 7, 2010 ‑ Service‑, the creator of modern software‑as‑a‑service (SaaS) for IT service management, today announced another year of significant revenue and customer growth. Service‑ recurring revenue increased by more than 100 percent from June 30, 2009 to June 30, 2010, marking the fifth consecutive year Service‑ recurring revenue has at least doubled year over year.

Exceptional Service‑ revenue growth is driven by demand from enterprise IT organizations for modern and powerfully simple ITSM software. The legacy enterprise vendors are losing market share while the overall IT service desk market manages to sustain 7 – 9 percent annual growth.

Fred Luddy, Service‑ CEO, said, "The last twelve months for Service‑ were highlighted by 100 percent customer implementation success, global expansion of the company and its data centers, and mainstream IT adoption of SaaS and cloud‑based applications. Service‑ customers are uniformly rejecting our competitors' outdated software and business models and are replacing them with an alternative focused on customer success and continuous delivery of ITSM tool innovation."

Service‑ FY 2010 company highlights include:

  • More than 100 percent subscription renewal rate as satisfied customers expand use throughout their businesses;
  • New customer growth surpasses that of legacy enterprise ITSM tool vendors and positions Service‑ as the smart technical and business choice;
  • More than a dozen awards including the Wall Street Journal Next Big Thing, number 69 on the Inc. 500, IDC Company to Watch, Red Herring 100, On Demand Top 100, etc.;
  • Key executives appointed in customer care, application development, information security and marketing establish scalability for continued company growth; and
  • Three major releases, with numerous SaaS applications for CIOs and additional IT users, included service portfolio, IT cost, project and portfolio, field service, and Web portal design tools.

Now hundreds of customers use Service‑ to help provide better IT service for more than five million end users around the world. Customers who selected Service‑ ITSM and Discovery applications during the last few months include Blue Coat Systems, Bridgepoint Education, Bob Evans Farms, BSH Bosch und Siemens Hausgerate GmbH, BSkyB, California State University Office of the Chancellor, Centene, Citigroup, Clear Channel Media Holdings, Entertainment Publications, Equinix, EMI Music, Ferring Pharmaceuticals, Fidelity International,, Gold Coast City Council, Harrods, HealthPartners, Hoag Memorial Hospital, ICAP, Informa, Kodak, Liberty University, Medica, Metropolitan Washington Airports Authority, National Bank of Belgium, New York State Office for Technology, OCLC, Plantronics, Randstad, Research Triangle Institute, Royal Mail Group, Skandia, Spansion, Stockmann, Twitter, UMB Financial, WellMed Medical Management, and WPP Group.

Register now for Knowledge10 EMEA at‑Register. The inaugural Knowledge10 EMEA conference will be held at Riverbank Park Plaza Hotel in London from Sept. 13 ‑ 15. Service‑ Knowledge user conferences are a must‑attend event for professionals dedicated to solving the challenges of IT service using modern technology and real‑world IT process.

About Service‑

The Service‑ enterprise IT service management platform combines ITIL v3 process support and SaaS delivery to provide flexible, intuitive and self‑managing applications. Founded in 2004, Service‑ uses a new business model and modern technologies to disrupt the status quo. According to the 2010 Inc. 500 list, Service‑ is the fastest‑growing IT management software company. For more information, please visit http://www.service‑ or http://blog.service‑