SOURCE: Intacct

Intacct

April 18, 2011 10:00 ET

New Survey Shows Software Company CEOs and CFOs Expect Cloud Computing to Drive Industry Growth in 2011

Sand Hill Group Survey Underwritten by Adaptive Planning and Intacct Highlights Opportunities and Challenges for the Software Industry in 2011 and Beyond

SAN JOSE, CA--(Marketwire - Apr 18, 2011) - The cloud is where it's at! So says a new Sand Hill Group survey set to be released later this week. The report shows that the majority of the more than 100 software company CEOs and CFOs interviewed believe cloud computing and Software-as-a-Service (SaaS) will drive the largest amount of spending in the software industry over the next 12 months. The report also found that the majority of respondents expect their company's business will grow by at least 20 percent in 2011 and that hiring will increase significantly.

Key findings from the Software CEO/CFO Outlook 2011 study, which was conducted by Sand Hill Group and underwritten by Adaptive Planning and Intacct, will be revealed as part of a webcast this Wednesday, April 20, at 11:00am PT -- http://bit.ly/2011SWsurvey.

Highlighted Survey Findings
The software industry continues to pull itself out of the recession. While many industries continue to struggle, the CEOs and CFOs participating in Software Outlook 2011 are optimistic about the industry as a whole and extremely bullish on the outlook for their own companies. Well over three-quarters of the respondents noted that their company had already returned to pre-recession growth levels or would reach those levels in 2011. In addition, nearly two-thirds of the respondents expect their company to grow by at least 20 percent, including more than one quarter of the respondents who expect their growth rate to top 50 percent this year.

Other findings from the survey include:

  • Cloud Computing and SaaS are Key Growth Drivers - The survey reveals that the resounding majority of respondents feel cloud computing and SaaS/on-demand will be the two most frequent types of software projects driving business spending over the next 12 months. More than 50 percent of the respondents stated the biggest influence driving software spending would be the need to increase efficiencies and reduce costs.

  • Hiring Trends Perking Up - Approximately 90 percent of the companies surveyed expect their headcount to increase in 2011, with more than half of those companies expecting their headcount to increase "significantly" this year.

  • Industry Growth Outlook Remains Strong - The survey revealed that more than 90 percent of the software executives responding have a positive opinion regarding the industry outlook. In addition, nearly three-quarters of the executives expect the software industry will perform better than in 2010.

  • The Cloud Model Dominates - The survey indicates software vendors have increased their use of cloud deployment options over the past year and decreased their use of on-premises options. In addition, a clear majority (72 percent) of the surveyed executives stated that multi-tenant SaaS solutions via a subscription license is the type of offering that will be most desirable for new customers during the next 12 months.

Additional Survey Results to be Unveiled Wednesday, April 20
On Wednesday, April 20, at 11:00am PT, the Sand Hill Group, Adaptive Planning and Intacct will host a special one-hour webcast to reveal the key survey results. The event will also include a roundtable discussion moderated by Sand Hill Group CEO, M.R. Rangaswami, and featuring CEOs and CFOs from leading cloud computing-based software companies including Adaptive Planning, Black Duck Software, Intacct and Jaspersoft.

To register for the webcast, please visit http://bit.ly/2011SWsurvey. Everyone who attends the event will also receive a complimentary copy of the full written Software CEO/CFO Outlook 2011 report.

About Sand Hill Group
Sand Hill Group provides strategic management, investment and marketing services to emerging market leaders. Sand Hill Group is best known for its work in the $600-billion software and services market. As founder of the "Enterprise" and "Software" conference series, Sand Hill Group has been credited with uniting the software business ecosystem of executives, entrepreneurs, investors and professionals. The firm is also the publisher of SandHill.com, the premier online destination for strategic information on the software business. The site and its newsletters are read by thousands of top software industry executives every week. For more information, please visit www.sandhill.com.

About Adaptive Planning
Adaptive Planning is the worldwide leader in on-demand business performance management (BPM) solutions for companies and nonprofits of all sizes. Adaptive Planning's solutions allow finance and management teams to obtain real-time visibility into performance metrics, streamline financial planning and reporting, and drive better business decisions. By offering affordable annual subscriptions and rapid implementations, and by eliminating the need for new hardware and IT support, Adaptive Planning makes it easy to move beyond spreadsheet-based processes without the cost and complexity associated with traditional on-premise BPM applications. Adaptive Planning is headquartered in Mountain View, Calif. and can be reached at 650-528-7500 or www.adaptiveplanning.com.

About Intacct
Intacct is a market and technology leader in web-based financial management and accounting applications for businesses and CPA firms. Bringing cloud computing to finance and accounting, Intacct's award-winning applications are the preferred financial applications for AICPA business solutions. Intacct applications are used by thousands of businesses from startups to public companies and are designed to improve company performance and make finance more productive. The Intacct system includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Internet via cloud computing.

Intacct is headquartered in San Jose, California. For more information, please visit www.intacct.com or call 877-437-7765.

Intacct and the Intacct logo are trademarks of Intacct Corporation. All other company and product names mentioned herein may be trademarks of their respective owners.

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