SAN DIEGO – Feb. 10, 2009 ‑ Service‑now.com,
the pioneer IT service management via SaaS, today announced Fred
Luddy, Service‑now.com CEO, will present today at the Thomas Weisel
Partners Technology and Telecom Conference at the Fairmont Hotel in
San Francisco. The presentation will be held on Tuesday, Feb. 10, 2009
at 1:30 pm PST in the Garden Room.
Fred will present on next‑generation SaaS and Service‑now.com's
success with an on‑demand software business model.
Service‑now.com recently announced record growth. As of Dec. 31,
2008, Service‑now.com was approaching $20 million in recurring
revenue. Service‑now.com executives attribute the growth to a modern
approach to software‑as‑a‑service (SaaS) and to simply doing what is
right for the enterprise IT customer in a new economy.
Service‑now.com has also been cash‑flow positive for the last year
and a half and has experienced high triple‑digit growth during the
last three years. Service‑now.com FY 2008 revenue grew 389 percent
over FY 2007 revenue.
According to an IDC press release, "Recent IDC surveys and
customer interviews support the finding that the harsh economic
climate will actually accelerate the growth prospects for the software
as a service (SaaS) model as vendors position offerings as
right‑sized, zero‑CAPEX alternatives to on‑premise applications.
Buyers will opt for easy‑to‑use subscription services which meter
current use, not future capacity, and vendors and partners will look
for new products and recurring revenue streams. As such, IDC has
increased its SaaS growth projection for 2009 from 36% growth to 40.5%
growth over 2008." *
Service‑now.com enterprise IT service management software integrates
ITIL v3 processes, software‑as‑a‑service
(SaaS) delivery, and Web 2.0 functionality to provide a flexible,
intuitive and self‑managing application. Service‑now.com was founded
Luddy, former CTO of Peregrine Systems and Remedy. The company is
based in Solana Beach, Calif. and has more than 235 enterprise
customers worldwide. For more information, please visit http://www.service‑now.com/.
* IDC press release, "Software as a Service Market Will Expand
Rather than Contract Despite the Economic Crisis, IDC Finds,"
Robert P. Mahowald, Jan. 26, 2009.