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  • Formal collaboration helps implement new technology safely and effectively. to Present at Pacific Crest 2009 Emerging Technology Summit

Service‑ presents on next‑generation SaaS and success with an on‑demand software model

SAN DIEGO – Feb. 25, 2009 ‑ Service‑, the pioneer of IT service management via SaaS, today announced Fred Luddy, Service‑ CEO, will present at the Pacific Crest 2009 Emerging Technology Summit at the St. Regis Hotel in San Francisco. The presentation will be held on Thursday, Feb. 26, 2009 at 2 pm PST in the room Impressionist II.

Service‑ will join Intacct, NetSuite, Omniture, Workday and many other on‑demand and software‑as‑a‑service application vendors as part of the 4th Annual On‑Demand Conference, day two of the Pacific Crest 2009 Emerging Technology Summit. Fred will present on next‑generation SaaS and Service‑'s success with an on‑demand software business model.

Service‑ recently announced record growth. As of Dec. 31, 2008, Service‑ was approaching $20 million in recurring revenue. Service‑ 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‑ 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‑ 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." *

About Service‑

Service‑ 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‑ was founded by Fred 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‑

* 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.

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