On-Demand IT Governance Provider Innotas Posts Record Q3 Results

SAN FRANCISCO, CA--(Marketwire - October 19, 2009) - Innotas, a leading on-demand IT Governance provider, today announced record bookings in its fiscal Q3 2009. The company exceeded expectations both in new customer acquisitions and existing customer renewals. While continuing to grow within its core industries including state and local government, Innotas is also seeing traction across a wide range of industries, such as manufacturing, retail, and education, as companies increasingly realize they need to run IT like a business in an effort to cut costs, streamline operations, gain core efficiencies and maximize resources.

Innotas helps IT operate like a business by providing unparalleled visibility and accountability, implementing methodology and imposing benchmarks, defining and prioritizing projects, and empowering directors with the information they need to be business managers as well as IT managers.

"While the majority of IT budgets and resources are focused on non-project, maintenance and operations work, organizations are quickly realizing that they need to recalibrate how they think about their IT departments and shift focus onto project work that drives strategic business initiatives forward," said Keith Carlson, CEO of Innotas. "By helping organizations focus more of their IT resources on the most strategically important projects, Innotas on-demand IT Governance helps organizations grow the business instead of merely run it," continued Carlson.

Analyst firm IDC (www.idc.com) has positioned Innotas as an industry leader in its IDC MarketScape SaaS/On Demand ITPPM Market View and noted that the company is helping drive SaaS adoption and innovation. The report, " IDC MarketScape: IT Project and Portfolio Management, 2009 Vendor Analysis," was released on July 24 and is authored by Melinda-Carol Ballou program director and Joseph C. Pucciarelli program director.

Additionally, Gartner (www.gartner.com) placed Innotas in the Visionaries Quadrant of its "Magic Quadrant for IT Project and Portfolio Management," which was released June 2, 2009, and authored by Dan Stang, principal research analyst and Michael Hanford, research director.

To learn more about how customers are using Innotas on-demand IT Governance, download the Innotas eBook, "The 7 Undeniable Truths of IT Governance: Success stories from companies that didn't wait until it was too late."

Follow Innotas on Twitter at www.twitter.com/innotas.

About IDC MarketScape

The IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About the Magic Quadrant

The Gartner Magic Quadrant is copyrighted 2009 by Gartner, Inc., and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Innotas

The Innotas on-demand IT Governance solution is an easy-to-use, rapid-to-deploy, and cost-effective way to manage resources and budgets across an IT department's entire inventory of projects, portfolios, applications, assets, and service requests. With its strong foundation in Project Portfolio Management and Application Portfolio Management, Innotas provides CIOs and IT management with visibility across both strategic initiatives and sustaining operations for improved decision making across the entire IT portfolio. Our customers, including the City of Memphis, Crayola, Forbes, Hamilton Beach, Jo-Ann Stores, The Northwest Company Inc., World Vision and many others, span a wide range of industries including financial services, government, healthcare, retail, technology, telecommunications and energy. For more information please visit www.innotas.com or contact us at +1 415.814.7700.

Contact Information: Contact: Seth Geisler Martin Levy Public Relations 858.610.9860