SAN JOSE, CA--(Marketwire - Feb 15, 2012) - Tensoft www.tensoft.com, a leading revenue management, supply chain solution and ERP SaaS provider for the technology industry, announced today a 24% growth rate in annual billings for calendar year 2011, derived by a solid increase in recurring revenue from its Cloud-based offerings. The company also showed record increases in the number of new customer wins, expanded Cloud-based product offerings, earned multiple awards and certifications, and participated in a number of notable industry events. The company's success is notable in a year that saw many similar businesses lose market share and cut back on their investment activities.
"Having hosted applications since 2005, Tensoft made a concerted company decision to re-energize its web native software strategy on Cloud-based offerings during the trough of the recession in 2009 when it was unpopular to make tough investment choices," said Tensoft President and CEO Bob Scarborough. "As a result, we are now more than two years ahead of a number of our competitors and enjoying double digit SaaS billings growth."
Notable highlights from 2011 include:
- Achieved 24% annual recurring revenue growth.
- Added a record number of new customers, including leaders in the software, semiconductor and technology industries.
- Tensoft Revenue Cycle Management software earns Certified for Microsoft Dynamics accreditation.
- Successfully replaced multiple competitors' customer sites with Tensoft applications.
- Tensoft earns gold level in the Microsoft Partner Network ERP competency.
- Hosted Momentum 2011, the sixth annual user conference for Tensoft Fabless Semiconductor Management's worldwide customer base.
- Tensoft High Tech Dashboard (HTD) product selected as one of the top 15 most useful add-ons worldwide for the Microsoft Dynamics GP business solution.
- Bob Scarborough, Tensoft CEO, speaks at GSA Semiconductor Ecosystem Summit.
- Sponsored eight CPE-eligible webcasts and training courses for software and high tech industry professionals.
- Added strategic partnerships with leading advisory firms for the promotion and delivery of Tensoft's revenue management applications.
- Tensoft Cloud data center operations maintained SAS 70 certification and ISO 27001 registration.
- Approved as an educational webcast and seminar provider by the National Registry of CPE Sponsors.
About Tensoft
Tensoft provides business management applications to manage industry-specific business processes for the semiconductor, technology and software industries. Tensoft's business-ready solutions extend broad, horizontal ERP functionality to complete the most vertically demanding, high tech needs through critically relevant content, domain expertise, embedded best practices and performance analytics. For over 15 years, technology companies worldwide have relied on Tensoft software and cloud-based services to power and improve their operations. Tensoft is an award-winning, applications company headquartered in Silicon Valley with sales and support offices throughout the U.S., Europe and Asia. For more information, go to www.tensoft.com or call (888) 450-4030 x406.