AUSTIN, TX--(Marketwire - Aug 2, 2012) - Troux, the global leader in Enterprise Portfolio Management (EPM) and Enterprise Architecture (EA) software, today announced record growth and business results for Q2 2012 including the addition of one of the world's largest banks as a customer.
Another Record Quarter
Troux followed a record breaking Q1 with another stellar quarter. The company continued to meet the growing demand among customers to do more with less and to prepare for future growth, in both the private and public sectors, realizing an 85 percent increase in top line growth Q2 year over year. Despite the economic hardships in Europe, Troux saw significant growth in the Europe, Middle East and Africa (EMEA) markets as revenues more than doubled for this segment. Furthermore, Troux's second quarter European performance was highlighted by the addition of the world's third largest bank to its growing base of customers. The company also experienced 40 percent growth in its U.S. market. The noteworthy quarter was also underscored by an increase in license revenue of over 60%, driven by clients' appetite for Enterprise Portfolio Management solutions and the rapidly growing demand for Troux's EPM On-Demand SaaS offering.
According to a new survey from Gartner conducted by Jorge Lopez, corporate boards are ready to invest more money at IT despite their expectations of a downturn in the economy. Directors want CIOs to play a more transformative role in the company, with 86 percent saying they expect IT to make a greater strategic contribution over the next two years.1 CIOs recognize the need to prepare for this new wave of transformational investment and, as is evidenced by Troux's solid first half and healthy second half outlook, they are turning to Troux for guidance.
Troux's solutions help business and IT leaders to make better decisions and ensure that IT initiatives align with business objectives. "Today's new CEOs are looking to CIOs and IT to make a direct impact on business goals from investments in technology. While every business must make technology investments to sustain operations, IT must move beyond simply keeping the lights on and connect the dots between effective growth strategies and new technology investments," says Nigel Fenwick, vice president and principal analyst at Forrester Research, Inc.2
Troux also saw continued interest from the federal government vertical as agencies seek to align with the IT management policies set forth by the U.S. CIO. Recently, Troux Technologies received its fourth prestigious "Best Solution Award" from the Government Technology Research Alliance (GTRA). Troux was selected by a peer-vote among the nearly 230 senior-level government technology executives attending the semi-annual GTRA Technology Council meeting earlier this month.
"Large enterprises looking to optimize IT spend through improving agility and reducing cost and risk see sustainable business value in Troux's solution. The continued broad adoption of our solutions across a wide set of verticals and geographies not only shows an unprecedented demand for Enterprise Portfolio Management, but also that our solution is delivering on its promise," said David Hood, CEO of Troux. "To accelerate market adoption, Troux continues to focus on innovations that enhance our 'Whole Product' offering. In addition to growing our list of patents, we continue to invest in ease of adoption and ease of use capabilities that enable our clients to obtain business value early and often. With Troux, CIOs can rest assured that critical business decisions are being made with the best information possible."
Troux's mission is to forever change the way businesses make decisions. With Troux solutions, business leaders, CIOs and their teams can use the power of Enterprise Architecture to successfully manage the connected set of enterprise portfolios that define their business. Better-informed decisions powered by the unique TrouxView™ Enterprise Portfolio Management approach helps businesses save money, reduce risk and increase business agility. With the largest and fastest growing base of successful customers, Troux delivers results for some of the world's best known brands including: American Express, AstraZeneca, Bayer Health Care, Boeing, Cisco, Disney, Fidelity, Lloyds, State Farm, U.S. Department of Health and Human Services, U.S. Department of Homeland Security, Vodafone and Volkswagen Group of America.
1 Jorge Lopez, Mark Raskino "Gartner-Forbes 2012 Board of Directors Survey: Stay in Balance," Gartner, June 28, 2012, pp. 1, 15-16
2 Nigel Fenwick, "Failure Is Not An Option". [Blog Post July 17, 2012] Retrieved from http://blogs.forrester.com/nigel_fenwick/12-07-17-failure_is_not_an_option