By Cassandra Balentine
For the 2018 Software 500, our researchers continued with the same format as previous years to determine the ranking. The data for this year’s Software 500 looks at the 2017 fiscal year, comparing it to 2016 revenue data from both public and private software and services companies. To ensure consistency, the fiscal years recognized by Software Magazine for 2017 include period ending dates between March 31, 2017 to February 28, 2018 and March 31, 2016 to February 28, 2017 for the 2016 fiscal year.
In the 2018 report, total software and services revenue came to $867.8 billion compared to $813.6 billion in the 2017 report. This shows a compound annual growth rate (CAGR) of 2.8%.
Changes at the Top
The top two Software 500 companies remained the same compared to last year, with IBM at number one, Microsoft number two. The number three slot goes to Accenture, which is up two spots from the 2017 ranking; Oracle also moves up to four from six; SAP to five from eight; and Apple Inc. comes in at six, up from nine.
Hewlett Packard Enterprise (HPE) goes down to seven, a drop from its number four slot last year. Ericsson goes down one slot to eight.
Dell comes in at nine. Due to how the company categorized its revenue the past several years, Dell was not eligible for the Software 500 ranking. However, after looking at how the company structured its software and services this year, they were included, making the top ten.
Tata Consultancy Services (TCS) maintained its number ten position.
It is also worth noting that HP Inc. does not make an apperance in this year’s Software 500 ranking. This is because, after its divesture of Hewlett Packard Enterprise Company (HPE), remaining segments focus on personal computing and other access devices, imaging, and printing products, and related products.
Here are company highlights from the top ten contenders on the 2018 Software 500.
IBM is a multinational information technology company with operations in over 170 countries. The company has an interest in a variety of technologies, including developer tools, enterprise technology, artificial intelligence (AI), the cloud, blockchain, security, and Internet of Things (IoT).
This Fall, IBM announced its decision to acquire Red Hat, making it a top hybrid cloud provider worldwide.
Microsoft enables digital transformation for the era of an intelligent cloud and an intelligent edge.
Earlier this year, the CEOs of Adobe, Microsoft, and SAP introduced the Open Data Initiative at the Microsoft Ignite conference. Together, the three longstanding partners are reimagining customer experience management by empowering companies to derive more value from their data and deliver world-class customer experiences in real time.
Accenture is a professional services company, providing a range of services and solutions in strategy, consulting, digital, technology, and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions, Accenture works at the intersection of business and technology to help clients improve performance and create sustainable value for stakeholders.
The company recently announced the development and testing of technology solutions that enable two or more blockchain-enabled ecosystems to integrate, addressing a major challenge hindering the ability for blockchain to reach its potential. The two solutions show that blockchain platforms from Digital Asset and R3 as well as Hyperledger Fabric and Quorum are capable of integrating to securely orchestrate business processes.
Oracle focuses on AI, blockchain, the IoT, machine learning, and other emerging technologies. The company helps customers develop roadmaps, migrate to the cloud, and take advantage of emerging technologies from any point—new cloud deployments, on premises environments, and hybrid implementations. Oracle’s approach makes it easy for companies to get started in the cloud and even easier to expand as business grows.
The company recently announced the availability of digital assistants for the enterprise. Built on Oracle Cloud Infrastructure, Oracle Digital Assistant enables companies to build personalized digital assistants to help employees work smarter and more productively.
SAP is a cloud company powered by SAP HANA and provider of enterprise application software. Its machine learning, IoT, and advanced analytics technologies are designed to turn its customers’ businesses into intelligent enterprises. SAP gives people and organizations deep business insight and fosters collaboration that helps them stay ahead of the competition.
Among its many recent announcements, SAP introduced advancements in the SAP Cloud Platform, which allows customers to connect demand chain to their supply chain, meet new privacy and security regulations, and provide an exclusive cloud environment for their critical applications.
Apple is known for its sleek computers and its revolution of the cellular phone. In addition to its hardware, Apple’s four software platforms—iOS, macOS, watchOS, and tvOS—provide seamless experiences across all Apple devices.
Apple and Salesforce recently announced a strategic partnership that brings together Salesforces’ CRM and its iOS to enable new mobile applications for business.
HPE is a global technology company focused on developing intelligence solutions that allow customers to capture, analyze, and act upon data seamlessly from edge to cloud.
HPE recently completed the separation and merger of its Enterprise Services business with Computer Sciences Corporation. The Everett Transaction was accomplished by a series of transactions among CSC, HPE, Everett SpinCo, Inc., and New Everett Merger Sub Inc., a wholly-owned subsidiary of Everett. The company transferred its Enterprise Services business to Everett and distributed all of the shares of Everett to HPE stockholders. Following the distribution, the Merger Sub merged with and into CSC, which became a wholly-owned subsidiary of Everett. At the time of the merger, Everett changed its name to DXC Technology Company.
Ericsson enables communications service providers to capture the full value of connectivity. The company’s portfolio spans networks, digital services, managed services, and emerging business and is designed to help its customers go digital, increase efficiency, and find new revenue streams.
This Summer, Ericsson UDN and Mode announced an edge compute ecosystem partnership. Fortune 500 businesses face the task of trying to manage multiple networks to achieve the right combination of reliability, flexibility, and affordability. These enterprises are looking for a lower-cost option that maintains the reliability and security of a traditional Multiprotocol Label Switching network but provides the flexibility of a cloud service. To address this opportunity, Ericsson UDN and Mode have announced an edge compute ecosystem partnership to deliver a new category of global enterprise network. Ericsson’s Unified Deliver Network, known for its Content Delivery Network solution, also offers powerful edge computing capabilities. These capabilities, combined with Mode’s unique routing algorithms, produce an efficient private core network offered as a cloud service. This self-service cloud private network enables enterprises, security providers, network optimization providers, and other service providers to overcome some of the performance issues of the open internet, as well as the costs and inflexibility of traditional private networks.
Dell Inc., a part of Dell Technologies, provides customers of all sizes with a broad, innovative portfolio from edge to core to cloud. Dell Inc. comprises of Dell client as well as Dell EMC infrastructure offerings that enable organizations to modernize, automate, and transform data centers while providing the modern workforce and consumers what they need to securely connect, produce, and collaborate from anywhere at any time.
The company recently announced additional leading capabilities to its broad portfolio of VMware solutions, spanning from the edge to the core to the cloud. These new solutions and enhanced integrations are designed to help customers achieve IT transformation goals with a unified, seamless experience across PC and mobile devices, software-defined data centers, hyper-converged infrastructures, and multi-cloud platforms.
TCS is an IT services, consulting, and business solutions organization that partners with many of the world’s largest businesses in their transformation journeys for the last 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of IT, business and technology services, and engineering. This is delivered through its unique location independent agile delivery model.
The company is doing a lot with blockchain. TCS announced the successful completion of a Proof of Concept (PoC) around a blockchain-based, non-exchange trade settlement using TCS’ Quartz Blockchain Solution. Developed in collaboration with the Canadian Depository for Securities, a wholly-owned subsidiary of TMX Group, the PoC is part of a large market infrastructure transformation program leveraging TCS BaNCS for Market Infrastructure, aimed at the modernization of depository, clearing, and settlement services in Canada. The PoC helped demonstrate how delivery versus payment trade settlement can be completed using tokenized assets held on the Quartz blockchain ledger. It used a unique co-existent architecture comprising conventional and blockchain technologies, leveraging TCS’ Quartz Blockchain Solution’s support for co-existence and a choice of messaging standards, including ISO/FIX/FIXML for data exchange with the ledger.
The 2018 Software 500 has 31 private and 469 public companies. Therefore, the vast majority—nearly 94%—are public companies. This is down from last year, when 47 companies were represented in the 2017 Software 500. The Software 500 is open to public and private companies, but our researchers cannot include private companies that do not submit their data or release an annual report.
Revenue Growth Leaders Over $1B
The following sections highlight stand out companies in each revenue segment. The Software 500 ranks by highest software and services revenue, which is reflected below.
Ranked 102, Momo Inc. reports $1.3 billion and 138.3% growth compared to 2016. Momo Inc. is a mobile social networking platform in China. The company utilizes location-based features, enabling users to connect with each other. Its platform includes the Momo mobile application, the Hani mobile application, and a variety of related features, functionalities, tools, and services that it provides to users, customers, and platform partners.
Ranked 9, Dell Inc. reports $19.9 billion and 53.5% growth compared to 2016. Dell Technologies is a privately-controlled technology company that provides the essential infrastructure for digital business and IT transformation through its family of strategically aligned businesses. Built on the combined capabilities of Dell, Dell EMC, VMware, Pivotal, Secureworks, RSA Security, and Virtustream in one company, Dell Technologies is positioned to address its customers’ critical IT needs in the data center.
Ranked 114, Palo Alto Networks reports $1.0 billion and 48.7% growth compared to 2016. The cybersecurity company is focused on protecting life in the digital age by preventing successful cyberattacks. Its pioneering Security Operating Platform safeguards digital transformations with continuous innovation that combines the latest breakthroughs in security, automation, and analytics.
Growth Leaders $100M to $1B
Ranked 119 LogMeIn reports $898.8 million, a 194.52% growth. The company simplifies how people connect with each other and the world around them to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.
Ranked 118, Alibaba Group Services Limited reports $990.3 million, a 129.35% growth. The company’s businesses are comprised of core commerce, cloud computing, digital media and entertainment, and innovation initiatives.
Ranked 235, Square Inc. reports $252.7 million, a 95.33% growth. Square, Inc. creates tools that help sellers start, run, and grow their businesses. It enables sellers to accept card payments and also provides reporting and analytics, next-day settlement, and chargeback protection. Square’s point-of-sale software and other business services help sellers manage inventory, locations, and employees; access financing; engage buyers; build a website or online store; and grow sales.
Growth Leaders $50M to $100M
Ranked 360, Finjan Holdings reports $50.5 million and 174.7% growth. Finjan is a technology company committed to enabling innovation through the licensing of its intellectual property through its subsidiaries Finjan, Inc, Finjan Mobile, and Finjan Blue. The company’s engineers and developers pioneered behavior-based, real-time detection of online threats by identifying patterns and expected behavior of code and content rather than relying solely upon signatures of existing and already known threats. Finjan’s commitment to innovation in the security space continues through its investments, which have culminated in the development of mobile applications through Finjan Mobile; the launch of Finjan’s consulting services business, CybeRisk; and incubation of up-and-coming technology startups pioneering a new generation of security technologies through its investment in Jerusalem Venture Partners Fund VII’s Cyber Labs.
Ranked 333, Microgen plc reports $80.7 million and 38.55% growth. Microgen is the owner of two leading software businesses, Aptitude Software and Microgen Financial Systems. With a Premium Listing on the London Stock Exchange, Microgen is a financially strong group providing innovative software solutions. Aptitude Software serves enterprise CFOs in a range of industries, helping them streamline finance operations, address regulatory requirements, and deliver strategic insights to their business leaders. Microgen Financial Systems offers a variety of financial services technology systems focused on the global Wealth Management sector and also provides Application Management services.
Ranked 341 Citadel Group reports $73.2 and 34.3% growth. Citadel is an ASX-listed software and technology company that specializes in secure enterprise information management in complex environments. The company provides secure information to support real-time decisions across the health, national security, defense, and other enterprises.
Ranked 371, Senior Solutions S.A. reports $42.3 and a growth of 73.4%. The company has operated for more than 21 years in the Brazilian IT industry and is a provider on the development and commercialization of software applications for the financial industry in Brazil. According to the company, it developed the first application to Brazilian banks with the concept of full banking system.
Ranked 362, Asure Software reports $49.7 and 56.7% growth. The company offers the only human capital management (HCM) platform empowering clients with measurable insight into the productivity of their employees. HCM is an all-encompassing tool providing businesses with payroll and tax solutions, benefits administration, human resources, talent management, and ACA healthcare reform software solutions.
Ranked 366, Mitek Systems reports $45.4 and 30.8% growth. Mitek is a global provider of mobile capture and digital identity verification solutions built on the latest advancements in AI and machine learning. Mitek’s identity verification solutions enable an enterprise to verify a user’s identity during a digital transaction, which assists financial institutions, payments companies, and other businesses operating in highly regulated markets in mitigating financial risk and meeting regulatory requirements while increasing revenue from digital channels.
Growth Leaders $10M to $30M
Ranked 438, WISeKey International reports $12.6 million with a growth of 391.8%. The company is a leading global cybersecurity company headquartered in Geneva, Switzerland and currently deploys large-scale digital identity ecosystems with a patented process. WISeKey’s Swiss-based cryptographic Root of Trust provides secure authentication and identification in both physical and virtual environments for the IoT, blockchain, and AI.
Ranked 417, WANdisco reports $19.64 million and a 72.6% growth. The company is shaping the future of data infrastructure with its groundbreaking Live Data platform, enabling companies to put all their data to work for the business—all the time, at any scale. WANdisco makes data always available, accurate, and protected, delivering hyperscale economics to support exponential data growth with the same IT budget.
Ranked 439, AGM Group Holdings Inc. reports $12.23 million and 72.57% growth. AGM Group Holdings focuses on financial technology and investment areas, and combines a group of companies that together can service all parts of your business needs and grow your business. AGM Group is committed to exploring new formats of trading technology to meet the ever changing markets.
Growth Leaders Less than $10M
Ranked 497, 01 Communique Laboratory Inc. reports $390 thousand and a growth of 681.9%. 01 Communique is a provider in the new realm of Post-Quantum Cyber Security. Blockchains have taken the world by storm because they have taken cyber security to a new height. While blockchains are poised to disrupt many industries, from their operations to business models, quantum computing is poised to disrupt virtually the whole cyber security as we know today.
Ranked 496, Mobetize Corp. reports $470 thousand and a growth of 271.2%. From payments to lending to mobile wallets, Mobetize collaborates and empowers leading financial institutions and telecom companies to revolutionize how financial services are delivered and consumed in the digital world.
Ranked 482, AudioEye Inc. reports $2.7 million and a growth of 175.52%. The company’s suite of products and services are designed to enable equal access, enhance the user experience for all, and provide sustainable, results-driven accessibility solutions for any enterprise with an online presence.
The most popular category in the Software 500 is Security Tools/Systems, which is comprised of 45 companies. Within this category is cybersecurity, which represents a major part of the overall global IT landscape.
According to a recent study by MarketsandMarkets, Cybersecurity Market by Solution, Service, Security Type, Deployment Mode, Organization Size, Industry Vertical, and Region – Global Forecast to 2023, the global cybersecurity market size will grow from $152.71 billion USD in 2018 to $248.26 billion USD by 2023, at a CAGR of 10.2% during the forecast period.
The report states that an increase in the frequency and sophistication of cyber threats, stringent data protection regulations for information security, and rise in the number of supply chain-based attacks exploiting the software supply chain drive the cybersecurity solutions and services.
According to MarketsandMarkets, the cybersecurity market by solution is segmented into identity and access management, risk and compliance management, encryption, data loss prevention, unified threat management, firewall, antivirus/antimalware, intrusion detection system/intrusion prevention system, security and vulnerability management, disaster recovery, distributed denial of service mitigation, web filtering, and others—application whitelisting and patch management.
The second ranking category in the Software 500 is IT Consulting/Staffing, which is made up of 30 companies. In its IT Staffing report published this Spring, Staffing Industry Analysts (SAI) reported that global IT staffing generated $59 billion in revenue in 2016, representing more than 15% of the total global temporary staffing market.
SAI also notes that about half of IT staffing is derived from the U.S., where we forecast revenue to maintain a 4% growth trajectory in 2018. However, the analyst firm says it is a growing but complex industry.
The research report says secular trend of an increasing contingent share of the workforce remains intact, driven by buyer demand for flexibility, scalability, and reduced risk. Digital disruption has intensified the flexibility factor, specifically for IT talent, as an accelerating pace of technological innovation and a more rapidly evolving business environment have fueled demand for shorter-term projects requiring more specific IT skill sets.
According to SAI, the same demand drivers also generate an increase in demand for the provision of projects and managed services under statement of work, which are becoming an increasingly prevalent supplemental layer of service offerings within traditional staffing firms, particularly among the larger IT staffing operators.
In the IT staffing update, Brian Wallins, senior research analyst, SAI, points out that a constrained labor supply is a barrier to growth. “While the shortage of high-level IT talent has the benefit of enhancing the value of staffing services, it also creates recruiting challenges. As unemployment rates for IT occupations continued to tighten in 2017, we believe the labor shortage pendulum has swung to a point where the challenges outweigh the benefits.”
Healthcare and E-Business Applications, Services, and Tools tie for the third most popular category with 23 participating companies in each category.
According to Allied Market Research, the Healthcare IT (HCIT) market is expected to reach $297 billion, globally, by 2022. In its Healthcare IT Market or Healthcare Information Technology Market Overview, the research firm suggests the global HCIT or healthcare information technology market was evaluated at $125 billion in 2015, and is estimated to reach $297 billion by 2022, with a CAGR of 13.2%. The HCIT solutions and services defined in this report automate, manage, and control the different tasks and processes in healthcare organizations. This market growth is attributed to the rising demand for patient safety and data accuracy, need to curtail healthcare cost, and implementation of various healthcare policies promoting the use of HCIT in healthcare facilities.
The firm says the healthcare IT market is broken up by several products, including healthcare provider solutions, clinical solutions, and non-clinical solutions; healthcare payer solutions; and healthcare outsourcing solutions, including provider HCIT outsourcing services and IT infrastructure management services; according to its study, Global Opportunity Analysis and Industry Forecast, 2014 to 2022.
E-Business Applications, Services, and tools encompasses the sale of physical goods via a digital channel to a private end user, according to Statistica.
Reports from the market and consumer data Statistica on eCommerce indicate that revenue amounts to $1,785,733 million USD in 2018. Further, revenue is expected to show an annual growth rate—CAGR 2018 to 2022—of 9.7%, resulting in a market volume of $2,590,254 million USD by 2022. The market’s largest segment is fashion with a market volume of $524,872 million USD in 2018. User penetration is 54.9% in 2018 and is expected to hit 60.9% by 2022. Finally, the Statistica website says the average revenue per user currently amounts to $633.69 million USD.
The companies represented in today’s Software 500 fuel the changes towards the next industrial revolution. From cloud adoption to machine learning, the IoT, and blockchain technology, there are a lot of trends to watch within the software industry. SW
Nov2018, Software Magazine
By Cassandra Balentine
This year represents the 35th publication of the Software 500, a worldwide ranking of software and software services companies. Market consolidation continues to make the research of this guide increasingly difficult, so next year it will evolve to the Software 250, making it a more competitive ranking. Our team will still perform extensive research ensuring all relevant company information is gathered. We also plan to introduce new growth charts that bring fresh insight with the data research gathered for this annual project.
For 2017, we continue with the same format as previous years. The research for this year’s Software 500 looks at the 2016 fiscal year, comparing it to 2015 revenue data from both public and private software and software services companies. To ensure consistency, the fiscal years recognized by Software Magazine for 2016 include March 31, 2016 to February 28, 2017 and March 31, 2015 to February 29, 2016 for the 2015 fiscal year.
The total software and services revenue from the 2016 fiscal year comes in at $834B, compared to 2017’s $804B, a 3.59 percent increase.
Top grossing Primary Business Sectors included Middleware/App Server/Web service, with only IBM representing the category with $70.2 B; followed by Enterprise IT management with two companies averaging $25.7B; and Operating Systems, representing six companies and averaging an annual revenue of $13B.
The software and software services providers of today benefit from the maturation and continued adoption of the cloud, analytics, and mobility. With the stage set, we’re entering a new era of communications across every vertical market.
The continued evolution of business intelligence (BI) and cloud-based applications have enabled many leading software companies to truly present artificial intelligence (AI) platforms—and further machine learning technologies—that will transition us to a smarter world connected with the Internet of Things (IoT).
It’s an exciting time to cover the market. Consumers and businesses alike benefit from the opportunities these technologies present, but the future will not be without challenges.
It is also important to note that the Software 500 is focused on software companies that report software- and software services-specific revenue apart from other revenue sources. Therefore, technology giants like Amazon and Google are not included in the list, but are not forgotten editorially and are regularly monitored by our editorial team. Additionally, more than 90 percent of the ranking is made up of publicly traded companies. Private companies are encouraged to apply, but cannot be included without their cooperation.
Employee information is a telling statistic for the overall health of the industry. This year, companies in the Software 500 reported a total of 5,292,559 employees, compared to the 2016 published Software 500, which was reported at 5,901,438—a slight decline.
Top employers include Accenture, IBM, and Tata Consultancy, reporting 384,000, 380,000, and 353,843 worldwide employees respectively.
Further, results show top markets for employees include Human Resources/Workforce Management Systems, Communication/Collaboration, and Application Development/Testing/Lifecycle Tools, employing 173.7, 128.9, and 66.5 percent more employees as an overall market segment in 2016 than in 2015, respectively.
There were slight changes in the top ten in 2017 compared to the 2016 ranking. However, no companies from last year’s list were shifted out or into the 2017 top ten. IBM remained at number one, followed by Microsoft at two. The first change comes from Oracle, which slips from number three in 2016 to number six this year. HP Inc. moves up from seven to three. Accenture moves down from four to five. Hewlett-Packard Enterprise (HPE)—which recently announced its merger with Micro Focus, moved up to four from six. Ericsson moves up to seven from the tenth spot in last year’s ranking. SAP AG moves down to eight from five. Apple moves down one to nine from eight. Tata Consultancy also moves down one to ten, compared to last year’s ranking at nine.
Top performer, IBM, is busy developing technologies of the future, including AI and the IoT.
According to the company’s 2016 annual report, the company has reinvented itself for its users, focusing on AI with its Watson product, as well as on IBM Cloud.
IBM’s 2016 annual report states that the company’s major operations consist of five business segments, Cognitive Solutions, Global Business Services, Technology Services & Cloud Platforms, Systems, and Global Financing. The report notes that while the company is focused on cognitive solutions, cloud platform, and industry, cloud and industry technologies are embedded across IBM’s offerings. “These core businesses continue to run clients’ most critical business processes. IBM’s hardware systems are being designed from the ground up to power the cloud and cognitive systems of the future. The company’s technology services help clients move to the cloud, embedding cognitive capabilities tailored for their industry. The company’s software offerings are simultaneously being made available for the cloud as well as being connected to the cloud where our clients choose to keep them on premises. Additionally, cognitive capabilities are being added to these offerings to provide new levels of innovation. In short, all of IBM is transforming to support the way its clients are transforming,” states the annual report.
It also states that the company supports two primary goals, helping enterprise clients become more innovative, efficient, and competitive through the application of business insight and IT solutions, and providing a long-term value to its shareholders. IBM’s business model has been developed over time and is dynamic in order to adapt to a changing industry.
The second top performer is another household technology name, and longstanding top ranking company, Microsoft.
According to the company’s 2016 10K SEC filing, the company uses three reporting segments—Productivity and Business Processes, Intelligent Cloud, and More Personal Computing.
With these units, Microsoft is on a mission is to “empower every person and every organization on the planet to achieve more. We strive to create local opportunity, growth, and impact in every country around the world. Our strategy is to build best-in-class platforms and productivity services for an intelligent cloud and an intelligent edge infused with AI,” according to the filing.
The company sets three focus areas for its vision, to reinvent productivity and business processes, build an intelligent cloud platform, and create more personal computing. “We believe we can significantly enhance the lives of our customers using our broad portfolio of productivity, communication, and information products and services that span platforms and devices. Productivity is our first and foremost objective, to enable people to meet and collaborate more easily, and to effectively express ideas in new ways. We invent new scenarios that in turn create opportunity for our partners and help businesses accelerate their digital transformation while respecting each person’s privacy choices,” says Microsoft’s 2016 10K.
The foundation for these efforts rests on advancing its leading productivity, collaboration, communication, and business process. On December 8, 2016, Microsoft completed its acquisition of LinkedIn Corporation, which the company expects to accelerate the growth of Office 365, Dynamics 365, and LinkedIn.
The biggest news for this year’s third ranking company, HPE, is the recently announced merger with Micro Focus. Completed on September 1, 2017, the newly combined company is committed to driving customer-centered innovation at enterprise scale to deliver software solutions across hybrid IT, according to a press release issued by Micro Focus announcing of the deal’s completion.
According to Micro Focus, when the merger completed, the combined company became the largest U.K. technology firm listed on the London Stock Exchange, with a revenue of $4.4B. The transaction is valued at $8.8B in a series of major moves by Micro Focus in three years including the acquisitions of Attachmate Group, Serena Software, and now HPE Software.
“We are bringing together a powerful combination of technology and talent uniquely positioned to drive customer-centered innovation at enterprise scale—enabling organizations to maximize the ROI of existing software investments while embracing the new hybrid model for enterprise IT,” states Chris Hsu, CEO, Micro Focus, in a press release announcing the merger’s completion.
Top Growth Companies
Many companies in the Software 500 show extraordinary growth. In order to highlight a vast range of companies, we break down the highest growth companies in a variety of revenue segments. In each category we highlight top-performing companies in rank order.
Keeping Fast Company I
In this breakout, we highlight two groups, those reporting more than $1B USD in software and services revenue in the reporting year and those reporting between $100M and $1B. Top performers reporting more than $1B include Endurance International Group Holdings, Leidos, and MicroFocus International—each reporting close to 50 percent growth.
Endurance International Group Holdings, Inc. powers small businesses worldwide with products and technology to vitalize online web presences, email marketing, and mobile business solutions. The Endurance family of brands includes Constant Contact, Bluehost, HostGator, iPage, Domain.com, BigRock, SiteBuilder, and SinglePlatform.
Leidos is a science and technology solutions and services company dedicated to solving challenges in defense, intelligence, homeland security, civil, and health markets. Its 32,000 employees support vital missions for government and commercial customers. The company is headquartered in Reston, VA.
Recently, the company reported that it was awarded a prime task order contract by the Department of Energy’s Energy Information Administration (EIA), under the Leidos EOP IV IDIQ support contract, to provide comprehensive performance solutions for the 2018 Commercial Buildings Energy Consumption Survey (CBECS) and 2018 Commercial Buildings Energy Supplier Survey. The single-award cost-plus-fixed-fee contract has a four-year period of performance, and an anticipated contract value of $25 million. CBECS survey work will be performed across the nation.
Micro Focus is a global enterprise software company positioned to help customers extend existing investments while embracing new technologies in a world of Hybrid IT. Providing customers with a world-class portfolio of enterprise-grade scalable solutions with built-in analytics, Micro Focus delivers customer-centered innovation across DevOps, Hybrid IT , Security and Risk Management , and Predictive Analytics.
As previously discussed, the company recently announced the completion of its merger with HPE software business. According to the company, this merger brings together two leaders in the software industry to form a new, combined company uniquely positioned to help customers maximize existing software investments and embrace innovation in a world of Hybrid IT.
In the $100 to $1B category, Square, NetScout Systems, and Alibaba report 123, 111, and 109 percent growth, respectively.
Square, Inc. offers tools to help sellers start, run, and grow their businesses by enabling sellers to accept card payments. The company also provides reporting and analytics, next-day settlement, and chargeback protection. Square was founded in 2009 and is headquartered in San Francisco, CA with offices in the U.S., Canada, Japan, Australia, Ireland, and the UK.
Square recently announced a strategic partnership with Eventbrite, in which Square will drive Eventbrite’s payments systems, including online, mobile, and in-person transactions.
NetScout Systems Inc. provides business assurance for today’s most demanding service provider, enterprise, and government networks. The company’s Adaptive Service Intelligence technology continuously monitors the service delivery environment to identify performance issues and provides insight into network-based security threats, helping teams quickly resolve issues that may lead to business disruptions or impact user experience. NetScout delivers unmatched service visibility and protects the digital infrastructure that supports our connected world.
This Fall the company announced the nGenius Business Analytics solution, which is designed to provide a next-generation, smart data approach to analytics that makes wired data consumable for big data applications in a scalable, cost-effective manner.
Alibaba Group is aiming to build the future infrastructure of commerce. At its Brand Rights Holders Day in Beijing, the company unveiled enhancements to its Intellectual Property Protection (IPP) Platform. In the first month since the express technology enhancements were made, almost all cases submitted by rights holders were handled and closed within 24 hours, among which more than 80 percent of the listings were also taken down. Alibaba’s IPP platform is used by brands and IP owners to flag and request the take down of counterfeit or IP-infringing product listings.
Key highlights of Alibaba’s IPP platform technology upgrades include a single entry point across all Alibaba eCommerce platforms and streamlined process to assess the validity of complaints; a more automated complaints processing, analysis, and product-authentication system powered by new algorithms and data models; a dedicated team of IPR professionals to reduce response time for inbound inquiries, as well as proactive outreach to new IPP users and those with more complicated IPR cases; broader brand-protection technological capabilities—for instance, multi-lingual trademark-recognition; and improved search engine optimization for easier discovery of and access to the IPP platform.
Keeping Fast Company II
Further down the list, we highlight top growth performers in those reporting $50 to $100M and $30M to $50M in software and software services revenue. Leading the first category is Network-1 Technologies, with almost 300 percent growth; Gridsum Holdings with 60 percent, and Opera Software with 56 percent.
Network-1 Technologies is engaged in the development, licensing, and protection of its intellectual property and proprietary technologies. Network-1 works with inventors and patent owners to assist in the development and monetization of their patented technologies. The company currently owns 34 patents covering various telecommunications and data networking technologies as well as technologies relating to document stream operating systems and the identification of media content.
Its strategy includes continuing to pursue licensing opportunities for its Remote Power Patent and its efforts to monetize two patent portfolios—the Cox and Mirror Worlds patent portfolios—acquired by Network-1 in 2013.
Gridsum Holding Inc. is a provider of cloud-based, big data analytics, machine learning, and AI solutions for multinational and domestic enterprises and government agencies in China. The company’s core technology, the Gridsum Big Data Platform, is built on a distributed computing framework and performs real-time, multi-dimensional correlation analysis of both structured and unstructured data. This enables Gridsum’s customers to identify complex relationships within their data and gain new insights that help them make better business decisions.
The company recently won China’s government contract for the Remote Trial Service Information Construction Project of Beijing Intellectual Property Court, according to the official announcement of Beijing Municipal Bureau of Finance about government procurement on August 21, 2017.
Since its founding in 1996, Opera has been a pioneer in shaping the future of the internet. Providing faster and more innovative web browsers, the company is the everyday browser of choice for more than 350 million people.
The company recently released a new version of its most popular mobile browser application, Opera Mini, for Apple iPhone users. The revamped user interface features a newsfeed on its start page and helps users get the news four times faster than the previous version. An AI news engine is also rolling out to selected countries, bringing the latest and most insightful news to the user without any effort in setup.
Opera’s AI news engine uses real-time intelligence ranking that is powered by machine learning and deep learning. Once users start engaging with news content, it begins defining a unique user profile by accumulating news categories and publisher domains the user clicks on.
Moving on to the top performers in the $30M to $50M revenue segment, we highlight Virinchi Technologies with 46 percent growth, Mitek Systems with 37 percent growth, and Asure software with more than 34 percent growth.
Virinchi Limited is an IT products and services company offering world-class products and services to its global clients operating in various industry verticals. Virinchi is one of India’s early starters in the truly web-based IT products and solutions space, offering an array of offerings both off-the-shelf as well as customizable, for both the business to business and the business to consumer markets. These products were developed by a team of resources with extensive experience in varied domains since the year 1991.
The company’s business knowledge is complemented by a wide spectrum of products and service offerings. Together, they constitute its IT Capability Framework, which enables it to devise the most technologically advanced and cost-effective solutions in every business domain using information technology.
Mitek provides mobile capture and identity verification software solutions. The company’s ID document verification allows an enterprise to verify a user’s identity during a mobile transaction, enabling financial institutions, payments companies, and other businesses operating in highly regulated markets to transact business safely while increasing revenue from the mobile channel. Mitek also reduces the friction in the mobile users’ experience with advanced data prefill. These innovative mobile solutions are embedded into the applications of more than 5,800 organizations and used by more than 80 million consumers for mobile check deposit, new account opening, and insurance quoting.
Mobile Verify, the company’s ID verification solution, is used by financial services organizations and leading brands across the globe to create trust in the digital channel for safe onboarding, fast money movement, and user authentication. Digital leaders trust identity verification with Mobile Verify because of its proven, customer friendly user experience and because it keeps them in compliance with ever-increasing Know Your Customer and Anti-Money Laundering regulations.
Asure Software, Inc., headquartered in Austin, TX, offers intuitive and innovative technologies that enable companies of all sizes and complexities to operate more efficiently, building companies of the future. Its cloud platform has helped more than 7,500 clients worldwide to better manage their people and space for a mobile, digital, multi-generational, and global organization. Asure Software’s suite of solutions include human capital management (HCM), workforce management solutions, time and attendance, and workspace asset optimization and meeting room management solutions.
The company recently announced the acquisition of iSystems, LLC. Based in South Burlington, VT, iSystems through its flagship product, Evolution HCM, offers payroll, tax management, and human resources software combined with comprehensive back-end service bureau tools.
Keeping Fast Company III
In the final growth category, we look at the top performing companies in the $10M to $30M range, as well as those that fall under $10M. In the first grouping, we highlight Finjan Holdings with 292 percent growth; N-iX, reporting more than 77 percent growth over the previous fiscal year; and Radcom with 58 percent growth.
Finjan is cybersecurity provider. Its inventions are embedded within a portfolio of patents focusing on software and hardware technologies capable of proactively detecting previously unknown and emerging threats on a real time, behavior-based basis.
N-iX is a Ukraine and Poland based provider of software development outsourcing services, game development, and professional services with more than 700 technical experts. The company partners with technology businesses globally to create innovative products and help companies implement digital transformations.
Radcom provides NFV-ready service assurance and customer experience management solutions for Communications Service Providers (CSPs). RadCom’s MaveriQ software continuously monitors network performance and quality of services to optimize user experience for CSPs’ subscribers. RadCom specializes in solutions for next-generation mobile and fixed networks, including LTE, VoLTE, IMS, and others. By assuring physical, NFV-based and hybrid networks, MaveriQ enables CSPs to smoothly migrate their networks to NFV.
The Software 500 ranking and corresponding growth charts enable us to look at the overall software industry to identify trends through revenue growth, R&D investments, and employee staffing.
In addition to the published ranking in digital edition format, the Software 500 and its archives are available online 24/7 at softwaremag.com. Access is free, and enables you to sort by company, primary business sector, multiple years, and more. The following pages present the 35th annual Software 500 ranking, which is based on reported revenues from the 2016 fiscal year compared to 2015.
Nov2017, Software Magazine
By SWM Staff
The total software and service revenue for the 2016 Software 500 reached 705.8 billion, down 5.7 percent from 748.7 billion reported in the 2015 Software 500.
Now in its 34th year, the Software 500 provides a detailed look at changes in the software industry from a revenue, employee, and research and development (R&D) perspective. The 2016 Software 500 is based on each companie’s 2015 fiscal year reports. For the purpose of the Software 500, we observe fiscal year periods that end between March 31, 2015 through February 29, 2016.
With insights taken from the extensive survey results, we determine that top growth areas include business process management, social analytics, and database/data management, all offering an average growth per company above 50 percent over the 2015 fiscal year.
There are also changes in the top ten. The top four from 2015—IBM, Microsoft, Oracle, and Accenture—all maintained their rank. The former Hewlett Packard drops, but appears as two separate companies as number six and seven, Hewlett Packard Enterprise and HP Inc., following Hewlett Packard’s split into two companies last year.
Market consolidation also factored into changes in the top ten. EMC corporation was acquired by Dell., a private company Hitachi also dropped from the list as the company decided to not disclose its software revenue within its 2015 annual report.
Continued market consolidation and privatization makes the search for Software 500 revenue data more challenging each year, but also leaves the opportunity for inclusion at the bottom of the ranking for smaller organizations.
IT at Work
In addition to revenue and growth, the state of employee staffing helps provide a sense of the health of each business category as well as the industry as a whole. Therefore, the total number of employees reported in the 2016 Software 500 is 5,901,438, a slight growth—just under six percent—from last year’s overall 5,572,404 employees for the 2015 ranking.
As for top employers, IBM comes out on top again, but reports a reduced head count of 377,757. This is down from 412,775 the previous year. The number two spot is taken by Accenture plc, reporting 358,000 employees in 2015.
R&D helps determine both the current and future health of a company. The companies that dedicated the most to R&D this year are on the lower end of the Software 500 ranking, the top ten R&D spenders all rank after number 350.
The average R&D investment overall is 15.2, which is up from last year’s average of 13.4. It is also worth noting that this only includes those that disclose their R&D revenue.
The number one leader in companies with software and services over $1 billion is Sopra Steria, a company that has undergone several changes over the past few years. The company ranks number 37 from 56 and showing 59 percent growth and nearly $4 billion in revenue. The Paris, France-based company provides a portfolio of end-to-end service offerings, including consulting, systems integration, software development, infrastructure management, and business process services.
Also in this category we see strong growth from Wincor Nixdorf, Workday Inc., Service Now, and Cerner Corporation.
We also track those reporting strong growth in the category of $100 million to $1 billion. Topping this is Micro Focus International. Headquartered in Newbury, U.K., the company merged with U.S.-based Attachmate Group in 2014. The global infrastructure software company offers a portfolio designed to enable its customers to embrace the latest technologies while maximizing their IT investments.
Other top performers in this reporting segment include Tableau Software, Splunk, NetSuite, and Luxoft.
Earlier this year; Oracle announced its agreement to acquire NetSuite, a transaction valued at approximately $9.3 billion.
Further down the ranking, top growth leaders in the $50 million to $100 million segment include Sphere 3D company, Square Inc., and Episerver—each with triple digit growth rates for the reporting year.
Based in Canada, Sphere 3D Corp. provides virtualization technology and data management solutions that enable workload-optimized solutions. Its portfolio includes a combination of virtual applications, virtual desktops, virtual storage, and physical hyper-converged platforms.
In the $30 million to $50 million range, top growth companies include Oildex, Prophix Software, and Qumu Corporation.
Oildex’s goal is to transforms the way oil and gas companies manage their financial operations. The company provides cloud-based solutions for oil and gas financial supply chain automation. It offers functionality built for the industry, eliminates paper-based processes, and provides analytics for better financial insight. The Oildex technology platform includes digital and scanned invoice processing, owner relations Web portals, royalty check stub detail and reporting, joint interest bill processing, crude oil data exchange, gas plant document exchange, and production and sales volume reporting.
Among those with top growth in revenue $10 million and under category include AlphaPoint Technology and SharpSpring.
AlphaPoint Technology is located in Sarasota, FL and is a publicly held information technology company that provides technology solutions for mid- to large-size organizations and global enterprises. Towards the end of 2015, the company announced the acquisition of Strategy to Revenue, a Revenue Acceleration Company based in the U.K. This launched AlphaPoint’s strategic plan for rapid growth in 2016 through acquisitions.
SharpSpring, Inc. is a cloud-based marketing technology company. Its products are designed to improve the way that businesses communicate with their prospects and customers to increase sales. The SharpSpring marketing automation platform uses advanced features such as Web tracking, lead scoring, and automated workflow to help businesses deliver the right message to the right customer at the right time. All of the company’s products are designed and built as Software as Service offerings that are offered primarily as a subscription basis, with additional fees charged if specified volume limits are exceeded by our customers.
Key Primary Business Sectors
We also look at the top Software 500 through the primary business categories by breaking down industry segments containing the most companies and highest growth.
Security Tools and Systems
Companies within the Security Tools and Systems category saw an average growth of ten percent. The sector is also the most popular sector of the Software 500, featuring 38 out of 500 companies.
Top companies in this category include Gemalto at 41, Indra Sistemas S.A. at 44, Intel at 60, Check Point Software at 73, and ManTech International Corporation at 75.
Gemalto is a global provider of digital security solutions. The company offers technologies and services that enable businesses and governments to authenticate identities and protect data so it stays safe and allows services in personal devices, connected objects, the cloud, and everything in between.
Indra is a global consulting and technology company and the technology partner for core business operations of its clients businesses throughout the world. It provides unique in-house solutions and advanced and high added value technology services that allow its customers to solve the most critical issues and enhance their processes, efficiency, profitability, and differentiation.
Best known for its processors, Intel also provides technologies that support the cloud, the Internet of Things, and advances in memory and programmable solutions. The company also offers a security division, which features the McAfee product line.
Check Point Software Technologies Ltd., a global network cyber security vendor, protects customers from cyberattacks. The company offers a complete security architecture defending enterprises—from networks to mobile devices—in addition to the most comprehensive and intuitive security management.
Several well-known businesses—Fidelity National Information systems, number 25; Fiserv Inc, number 31; Intuit Inc., number 35; Sage Software Inc., number 58; and Verisk Analytics, number 62—represent the top rankers in this category.
Fidelity—or FIS—provides financial technology solutions that power the financial world with software, services, consulting, and outsourcing solutions.
Fiserv, Inc. provides innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization.
Intuit creates business and financial management solutions that simplify processes for businesses, consumers, and accounting professionals. The company’s flagship solutions include QuickBooks and TurboTax. The company also offers Mint, a money management application targeted at consumers. Its ProConnect brand portfolio includes ProConnect Tax Online, ProSeries, and Lacerte tax preparation offerings.
Sage provides integrated accounting, payroll and payment systems, supporting the ambition of the world’s entrepreneurs. Sage began as a small business in the U.K. 30 years ago and over 13,000 colleagues now support millions of entrepreneurs across 23 countries as it helps to power the global economy.
Verisk Analytics is a data analytics provider serving customers in insurance, natural resources, and financial services. Using advanced technologies to collect and analyze billions of records, the company draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields.
The IT Consulting/Staffing market is generally a hot one for the Software 500. This year, 30 companies within the ranking make up this category, although hiring is down one percent.
The top three rated companies in this sector include SYNNEX Corporation at 12, Cognizant Technology Solutions Corporation at 14, and CSC at 15.
SYNNEX Corporation is a business process services company that provides business-to-business services that help its customers and business partners grow and enhance customer engagement strategies. Headquartered in Fremont, CA, and with operations in 26 countries, SYNNEX provides IT distribution and customer care outsourced services, operating in two business segments, Technology Solutions and Concentrix.
Cognizant provides information technology, consulting, and business process outsourcing services, dedicated to helping the world’s leading companies build stronger businesses. The company operates more than 50 delivery centers worldwide and approximately over 200,000 employees. According to the company, it enables global enterprises to address a dual mandate to make their current operations as efficient and cost effective as possible and to invest in innovation to unleash new potential.
CSC leads its clients on digital transformation journeys. The company provides technology services and solutions that leverage its expertise, global scale, technology independence, and a partner community. CSC serves leading commercial and international public sector organizations throughout the world.
In the 2016 ranking, eight companies make up the Data/Data Management category. These companies reported an average 58 percent growth in software and services revenue from the previous reporting year.
The top three include Oracle at 3, Teradata Corporation at 55, and InterSystems Corporation at 137.
From data center operations to cloud applications, Oracle works on eliminating the complexity that stifles business innovation, engineering in speed, reliability, security, and manageability. Database and data management solutions are core to its portfolio. The company provides Oracle Master Data Management, a comprehensive platform that delivers consolidated, consistent, and authoritative master data across the enterprise and distributes this master information to all operational and analytical applications. Additionally, Oracle’s latest database cloud innovations help more businesses leverage enterprise capabilities while simplifying access for IT and developers.
Teradata empowers companies to achieve high-impact business outcomes. This Fall, the company announced its Teradata Everywhere analytic database. The solution parallel processes to multiple clouds, managed, cloud, and on premises environments including Amazon Web Services, Microsoft Azure, Teradata Managed Cloud, VMware Virtualization software, and the Teradata IntelliFlex platform.
InterSystems offers an information engine that powers applications in healthcare, finance, government, and other sectors, The privately held company is headquartered in Cambridge, MA, with offices worldwide.
The eBusiness Applications business sector features 29 companies that saw an average 35 percent growth in the 2016 Software 500. This category is unique in that it incorporates many verticals as ecommerce continues to grow.
Top ranking companies in this sector include VeriSign at 90, Xura Inc. at 189, and PFSweb Inc. at 2018.
Verisign provides domain names and Internet security. The company enables Internet navigation for many domain names and provides protection for websites and enterprises worldwide. The company also operates two of the Internet’s root servers and also performs the root-zone maintainer functions for the core of the Internet’s Domain Name System.
Xura, Inc. offers a portfolio of digital service solutions that enable global communications across a variety of mobile devices and platforms. The company helps communication service providers and enterprises navigate and monetize the digital ecosystem to create innovative, new experiences through our cloud-based offerings.
PFSweb (PFS) is a global commerce service provider of solutions including digital strategy consulting, digital agency and marketing services, technology development services, business process outsourcing services, and a complete omni-channel technology ecosystem.
Business Process Management
Another noteworthy category is Business Process Management, which saw an average 82 percent growth among the four companies listed in the segment in the 2016 ranking—Insperity, Hinduja Global Solutions, Prophix Software, and IGEN Networks.
Software solutions that fall under this category are designed to improve business performance through the management of a company’s business processes. While only four companies in the ranking are listed under this sector as a Primary Business Category, a variety of other software vendors certainly provide solutions that fall under this scope of technology.
Growth in the Software 500 is supported by industry research. For example, in a 2015 report, Gartner noted a shift from process improvement to business transformation is driving a move to intelligent business process management suites.
The Software 500 ranking and corresponding Growth Charts enable us to look at the overall industry and compare it to previous years in order to recognize trends, areas of growth and investment, as well as determine where the jobs are now and where they might be in the coming years.
In the past several years, market consolidation and privatization have impacted the results of the Software 500. In order to maintain competitiveness, we’re considering consolidating the results to a smaller list. Let us know your thoughts by contacting us at firstname.lastname@example.org.
In addition to ranking formatted in the digital edition, readers are welcome to visit softwaremag.com and register to access the online guide. Registration is simple, easy, and free, and grants users access to comprehensive Software 500 data dating back to 2003.SW
Nov2016, Software Magazine
By Adrienne Weissman
The collection of software you use as part of your job, also known as your software stack, is comparable to the human body. The main platforms and systems function like the brain, the heart, and other vital organs, and ancillary add-ons or supplemental tools function similarly to the body’s other parts and appendages. Because we rely on our bodies to perform the necessary functions of life, we should eat well, exercise, and get regular checkups to remain healthy. The same should go for our software. When was the last time your stack had a checkup? Do you feel like your efficiency is not at its peak? These two exams will help you identify potential weaknesses in your stack that could be poisoning your performance.
Gaps in the Software Stack
Gaps in your software stack may appear to be minor, but they can destroy productivity. Each functional piece of a software stack should increase efficiency and quality in daily efforts. But when there’s a gap in the stack, you will be lagging behind more efficient contemporaries.
Take a PR professional as an example. The news game is fast moving, highly competitive, and always changing. PR practitioners can be a master of producing engaging content, but without a regularly updated media database, they are destined to spend countless hours researching reporters and bloggers to engage. Then they begin the arduous process of tracking down contact information for each.
To identify gaps in your stack, first lay out your typical workflow. If you’ve ever kept a food or exercise journal, the concept is similar. What are you doing, when are you doing it, and how long is it taking you? Looking at this breakdown across a few days should highlight some patterns and perhaps inefficiencies. For example, you might notice a few manual tasks are eating up huge chunks of your working week—this is your opportunity to fill a gap with a new software solution.
The second test of your software stack is a bit more difficult. Even if you’ve eliminated the gaps in your stack, the products in your stack could be underperforming and failing to improve the efficiency of your work.
For instance, a new salon might need a simple scheduling tool to book appointments. As the salon adds services, staff, and retail operations, appointments are still being scheduled. However, that same software may no longer sufficiently support the growing business. It might be time to implement a more robust solution that will also help manage stylist resources and the inventory of beauty supplies.
Identifying an underperforming software is challenging, and each product and circumstance come with their own considerations. Peer review platforms can help with this. Sorting functionality allows you to read reviews from comparable users and determine which types of software and specific products help similar companies solve like challenges.
Don’t Be Overwhelmed
When going through these exercises, the prospect of identifying the issues and best solutions can be overwhelming. Luckily, you have experts to turn to for help—your peers. Professionals have been sharing their tech stack and reviews of the products that they use on peer review sites. Take a peek at the structure of a contemporary’s stack and you may quickly see gaps or weak points in your own.
These same contemporaries are a terrific source for identifying the best software solutions to fill gaps or upgrade your software.
The goal of giving your software stack a checkup is to create the most efficient work environment for your team. If you make this an annual activity and take the time for a thorough evaluation, your business will be healthier and more efficient. SW
Adrienne Weissman is the CMO at G2 Crowd, a business software review platform, where she is responsible for the company’s sales and marketing divisions. Prior to this role, she served as LinkedIn’s director of marketing solutions, where she worked directly with global B2B and B2C heavyweights including Accenture, FedEx, Ford, Harvard, and Microsoft.
Jul2016, Software Magazine
By SWM Staff
The total software and software services revenue for the 2015 Software 500 totalled $748.7 billion, up 4.3 percent from $717.7 billion, according to the findings of the 2015 Software 500 ranking of the world’s largest software and services companies. In its 33rd year, the Software 500 provides a look at changes in the software industry from a revenue, employee, and research and development (R&D) perspective. The 2015 Software 500 is based on each company’s 2014 fiscal year reports, which we observe as fiscal year periods that end between March 31, 2014 through February 28, 2015.
With insights derived from the extensive survey’s results, we determine that eBusiness applications, security tools/systems, and healthcare are top growth areas, with these categories reporting more than 700, 600, and 500 percent growth, respectively.
In addition to revenue and growth, the state of employee staffing indicates the health of each business category as well as the overall software industry. The total number of employees reported in the 2015 Software 500 is 5,572,404, indicating a double-digit growth of 14 percent from last year’s 4,884,000.
The top 10 ranked companies saw some changes, but No.’s one through seven remained the same. Taking these top spots are IBM, Microsoft, Oracle, Accenture, HP, EMC, and SAP. Apple and Ericsson switched for the No. 8 and No. 9 slots, with Ericsson declining one and Apple moving up. Capgemini moved into No. 10, beating out NTT for its top 10 position, with NTT dropping down to No. 14. Apple saw the most growth by far in the top 10, reaching $18.06 billion for a growth of 13 percent. The second highest growth in the top 10 comes from EMC at five percent, reaching $24.44 billion.
IBM continues to be the top employer in the Software 500, but reports a reduced head count of 412,775, down from 463,785 the previous year. Second again this year is Hitachi, reporting a head count of 320,725, which is down slightly from the previous year’s 326,240.
The average R&D investment for the entire 2015 Software 500 is 12.4 percent, down from last year’s average of 13.4. It is worth noting that this decrease comes after an increase from 2013 to 2014 Software 500 rankings.
Revenue Growth Readers
The number one growth leader in companies with software and services revenues over $1 billion is Tech Mahindra Limited, ranking No. 48 with growth of 149 percent in the measurement year. The company describes itself as a representative of the connected world, offering consulting, digital transformation, integrated engineering, and business services and solutions for enterprises. Tech Mahindra provides services, platforms, products, solutions, and reusable assets that connect across a number of technologies to deliver tangible business value to its stakeholders. The company operates in key industries that drive economic growth, including tractors, utility vehicles, IT, financial services, and vacation ownership.
The second growth leader is Nuance Communications, ranking No. 71, with an 88 percent growth over last year. Nuance distributes its products through a network of channel partners including leading system vendors, ISVs, value-added resellers and distributors, and direct sales. Part of the company’s success is attributed to its relationship with leading technology companies such as Accenture, Avaya, Canon, Cisco, Hewlett-Packard, IBM, Lexmark, Microsoft, Nortel, Sony, and Xerox. Its customers span a range of industries and disciplines with particular concentration in areas such as financial services, healthcare, government, educations, utilities, travel, and telecommunications. Nuance product lines focus on speech, dictation, and imaging.
Also notable among companies with more than $1 billion in revenue is Constellation Software Inc., No. 82, with 41 percent software and services growth over the previous reporting year to reach $1.53 billion. The company provides software and services to a select group of public and private sector markets. It acquires, manages, and builds industry-specific software businesses that provide specialized, mission-critical software solutions that address the particular needs of its customers.
The number one growth leader in companies with software and service revenues between $100 million and $1 billion is FireEye Inc., No. 213, reporting 238 percent growth from the previous reporting year. The company provides a virtual machine-based security platform designed to offer real-time threat protection to enterprises and governments worldwide by thwarting cyber attacks that circumvent traditional signature-based defenses such as firewalls, IPS, anti-virus, and gateways. According to the company, it services more than 3,700 customers across 67 countries, including 675 of the Forbes Global 2000.
Second in the category is TubeMongul Inc., No. 283, showing nearly 100 percent growth from the previous reporting year. The public enterprise software company targets brand advertising needs. Its self-service platform enables advertisers to gain greater control of global advertising spend and achieve brand advertising objectives.
Also notable is Speed Commerce Inc., No. 288, with a 96 percent growth over the previous reporting year, reaching $107 million in revenue. The single-source provider of ecommerce technology and services helps retailers and manufacturers acquire new customers by providing personalized, relevant experiences. The company recently launched a new marketing campaign that centers on its vision of becoming one of the largest full-service players in the ecommerce industry.
For a further breakdown of top growth companies with over $1 billion and $100M, see the Growth Chart, Keeping Fast Company I: Growth in Revenue Above $100M.
Topping growth for companies reporting between $50 and $100 million in revenue is Xero Inc., No. 353. The company shows 86 percent growth over the previous year, reaching $54.57 million. Xero provides online accounting solutions to more than 500,000 customers in over 180 countries. Targeting small businesses, the company enables its users to save time on back-office processes to enable a focus on higher value, higher impact services.
Second in this category is InterCloud Systems Inc., No. 354, reporting $54.27 in revenue with a growth of more than 63 percent from the previous year. The company is a single-source provider of end-to-end IT and network solutions, including Software Defined Networking and Network Function Virtualization to the service provider and corporate enterprise markets. Through its cloud solutions and professional services, the company assists customers in meeting evolving technology demands.
Upland Software Inc., No. 335, comes in at number three in the $50 to $100 million category with more than 56 percent growth and a total software and services revenue of $64.57 million. The company provides cloud-based enterprise work management software, designed to connect people through technology, automate workflow, and bring visibility.
Reporting top growth in companies between $30 and $50 million is Unwired Planet Inc., No. 380. The company reports a revenue of $36.40 million, compared to only $121,000 in the previous year—a whopping growth of 29,979 percent. The company describes itself as the inventor of the mobile Internet and an intellectual property company focused exclusively on the mobile industry. Its patent portfolio of more than 2,500 issued and pending U.S. and foreign patents includes technologies that allow mobile devices to connect to the Internet and enable mobile communication, spanning 2G, 3G, and 4G technologies, as well as cloud-based mobile technologies.
Second in growth for this category is Castlight Health Inc., No. 367. Showing 252 percent growth from the previous year, the company reports revenue of $45.61 in the 2015 Software 500. The enterprise healthcare management company provides the Castlight Enterprise Healthcare Cloud, which enables employers to understand and manage healthcare investments while helping employees make the best healthcare decisions.
Attunity Ltd., No. 383, comes in at number three for growth among 2015 Software 500 companies reporting between $30 and $50 million, reporting 41 percent growth over the previous reporting year. The company provides information availability software solutions that enable access, management, sharing, and distribution of data across enterprise heterogeneous enterprise platforms, organizations, and the cloud. Its software solutions include data replication, data flow management, test data management, change data capture, data connectivity, enterprise file replication, managed file transfer, data warehouse automation, data usage analytics, and cloud data delivery.
For a further breakdown of top growth companies between $30 and $50 million, see the Growth Chart, Keeping Fast Company II: Growth in Revenue $30 – $50M.
Among companies with $10 to $30 million in revenue, the growth leader is Aerohive Networks Inc., No. 435. With 75 percent growth over the previous year, Aerohive is an enterprise mobility company that enables enterprises to leverage mobility to increase productivity, engage customers, and grow business. The company’s mobility platform utilizes the cloud and a distributed, controller-free architecture to deliver unified, simplified networks.
Second in growth within the category is TIE Holding NV, No. 406. The company, which goes under the name of TIE Kinetix, develops cloud- and license-based solutions. The company says it transforms the digital supply chain for its customers by providing total integrated ecommerce solutions to maximize revenue opportunities by minimizing the energy needed to market, sell, deliver, and analyze online.
Third in growth for this category is WSO2 Inc., No. 434, a company that offers an integrated enterprise platform that enables businesses to build, integrate, and manage APIs, applications, and Web services on premises, in the cloud, as well as on mobile devices.
Of companies in the 2015 Software 500 reporting under $10 million in software and services revenue, Pacific WebWorks Inc., No. 480, shows the highest growth in the category at 295 percent. The company provides a suite of software programs for small businesses that want to create, manage, and maintain an effective Web strategy including full ecommerce capabilities. Pacific WebWorks operates a number of wholly owned subsidiaries including IntelliPay, its internet gateway, TradeWorks Marketing, and Headlamp Ventures.
The second highest growth in this category comes from Ultrasis UK LTD, No. 498, a provider of technology-driven healthcare solutions. The company develops and delivers evidence-based health and social care through its products and services, utilizing a blended approach of people and technology to improve access to affordable healthcare.
Third for growth in the under $10 million category is BIO-key International Inc., No. 492. The company develops and delivers advanced identification solutions to commercial and government enterprises, integrators, and custom application developers. It provides biometric finger identification technology used to identify and authenticate users of wireless and enterprise applications. Its solutions are used in local embedded OEM products as well as large identification deployments.
For a further breakdown of top growth companies between $10 and $30 million, see the Growth Chart, Keeping Fast Company III: Growth in Revenue $10 – $30M.
The eBusiness Applications business sector saw an employee growth rate of 54 percent compared to last year, with 26 firms totaling 13,476 employees. The overall revenue for the business category is $2.7 billion with an average growth of 30 percent and overall segment growth of 770 percent.
Top growth performers in the eBusiness Applications business category are familiar from the previously detailed Growth Charts, with Pacific WebWorks Inc. coming in with the highest growth, followed by Speed Commerce Inc., and Xero.
Other noteworthy companies in this sector include VeriSign, No. 103; PFSweb Inc., No. 227; and Bazaarvoice Inc., No. 242, touting the top revenue of the sector, respectively.
VeriSign provides domain names and Internet security solutions to ensure the security, stability, and resiliency of key Internet infrastructure and services.
PFSweb Inc. is a global ecommerce solutions provider that combines integrated technologies, professional services, and a logistics infrastructure to deliver unique and branded customer experiences.
Bazaarvoice Inc. is a network of active shoppers, connecting more than a half billion consumers to thousands of retailers and brands that represent tens of millions of products and services online, in stores, and on mobile devices.
The Security Tools/Systems business sector is a top performer in total revenue growth, with the segment overall showing a growth of 644 percent, or an average of 36 percent. Employee growth is slightly down from last year—0.33 percent, with the company reporting a total of 214,976 total employees this year. There are 35 companies reporting in this sector for 2015.
Again, top growth performers in this category are familiar from previously outlined Growth Carts, and include FireEye and BIO-Key International. Number three is Palo Alto Inc., No. 208, which is a cyber-security company with a security platform developed to prevent cyber breaches.
Top revenue performers include Symantec Corporation, No. 25; Indra Sistemas S.A., No. 38; and Gemalto NV, No. 45.
Symantec Corporation is an information protection expert that helps consumers and organizations secure and manage their information-driven worlds.
Based in Spain, Indra Sistemas S.A. is a consulting and technology multinational firm offering business solutions, IT services, and comprehensive systems to clients worldwide.
Gemalto is a digital security provider that provides a range of services from advanced cryptographic software embedded in a variety of familiar objects, to highly robust and scalable back-office platforms for authentication, encryption, and digital credential management. The company recently acquired SafeNet.
The Healthcare business sector represents strong growth, reporting a total of 581 percent and an average of 51 percent. The sector also saw employee growth, reporting an increase of 14 percent over last year and a total of 115,348 employees among its 22 reporting companies.
Top growth performers within the Healthcare sector are Castlight Health Inc. and Ultrasis UK LTD, both of which topped earlier discussed Growth Charts, followed by Veeva Systems Inc., No. 195.
Veeva Systems Inc. offers cloud-based software for the global life sciences industry.
Top revenue performers in Healthcare include Cerner Corporation, No. 44; McKesson Corporation, No. 46; and IMS Health Holdings Inc., No. 57.
Cerner Corporation provides health information technologies that connect people, information, and systems at more than 18,000 facilities worldwide.
McKesson Corporation is a healthcare services and information technology company dedicated to making healthcare run better.
IMS Health Holdings Inc. is a global information and technology services company that provides end-to-end proprietary applications and configurable solutions that connect 10-plus petabytes of complex healthcare data through the IMS One cloud platform.
The Software 500 ranking and corresponding Growth Charts enable us to take a comprehensive look at the overall software industry to identify trends through revenue growth, investments in R&D, and employee growth.
In addition to the printed ranking, the Software 500 and its archives are available online 24/7 at softwaremag.com, providing further insight with the ability to compare company statics such as revenue, growth, R&D investment, and employee numbers. This tool is free and simply requires site member registration. Visit softwaremag.com to access.
The following pages provide the 33rd annual Software 500 ranking, based on software and services revenue from the 2014 fiscal year. SW
Visit the digital edition here: http://rcppubs.com/3D/SWM/2015/nov/index.html
Browse the online rankings here: http://www.rcpbuyersguide.com/top-companies.php
The financial data of companies that reported annual results in non-U.S. currency were converted to U.S. dollars as follows. A 12-month average of the daily exchange rates for each foreign currency was calculated from historical foreign exchange rate data reported by OANDA Corp. (oanda.com) for the relevant fiscal period. For example, if company ABC reports its financials in Japanese Yen and its fiscal year is April 1, 2013 to March 31, 2014, the daily U.S. dollar/Japanese Yen exchange rates were downloaded for the period and averaged. This average was then used to convert company ABC’s financial information into U.S. dollar figures.
Nov2015, Software Magazine
By Software Magazine Staff
When it comes to IT, many organizations need some help. Whether looking for a long-term partner or a short-term contract, IT services organizations step in whenever and wherever needed. It is a big business. Of the $717.7 billion software and services revenue reported by the vendors in the 2014 Software 500, $90.8 billon are represented within the primary business sectors of outsourcing and IT consulting/staffing. This does not factor in more specialized outsourcing service providers or those offering these services secondary to products within the ranking.
Below we provide a breakdown of top performers in these two primary segments and recognize players in more vertical IT outsourcing, consulting, and staffing services.
Within the 2014 Software 500, 30 companies represent the outsourcing primary business sector. The top five performers—in ranking order— include CGI, Xerox, HCL, Syntel, and Visma, which we discuss below.
CGI Group Inc.
CGI ranked 18 in the 2014 Software 500, reporting $9.9 billion in total revenue. The company offers a range of services including high-end business and IT consulting, systems integration services, application development and management, infrastructure services, business process services, and intellectual property (IP)-based solutions for financial services, health, government, communications, utilities, oil and gas, manufacturing, transportation, post and logistics, retail, and consumer services.
Founded in 1976, CGI staffs 68,000 professionals to serve thousands of global clients from offices and delivery centers across the Americas, Europe, and Asia Pacific, leveraging a comprehensive portfolio of services as well as a range of proprietary solutions.
In a recent customer win, CGI announced that it was selected by the city of Los Angeles, CA to replace a 13-year-old legacy supply management system and upgrade the city’s financial management system. The contract is reportedly valued at $19.6 million over four years.
To achieve this, CGI’s Advantage enterprise resource planning (ERP) solution will be used to drive improvements to its procurement and financial management operations. The system is designed to offer a one-stop shopping experience for citywide power purchases, reduce the time and cost of operating and interfacing the city’s two existing enterprise systems, automate inventory control, provide compliance, and streamline vendor interactions.
Ranking number 22 in the 2015 Software 500, Xerox reports $7.1 billion in software and services revenue, out of its total $24.4 billion in overall revenue.
The company reports that more than 6,000 of its employees are dedicated to IT outsourcing, offering solutions for managed IT, end user computing, and IT. Additionally, the company provides related offerings such as cloud services and Xerox ITO in Europe.
Within its global IT services portfolio, it offers IT consulting services, application services management, technology infrastructure and transformation services, and advanced technology. The company provides IT consulting services that focus on risk management, managed IT procurement, telecommunications expense management, and asset management. In terms of application services management, Xerox provides end-to-end application services including planning and solution design, development and implementation, hosting and management, maintenance, and support. For technology infrastructure and transformation services, the company utilizes a worldwide network of data centers, help desks, and management storage facilities to keep daily operations running.
The company also offers remote infrastructure management options, allowing businesses to retain control of IT assets, but engage the company to manage it remotely.
Xerox’s advanced technology solutions provide a number of pre-packaged technology offerings that clients can deploy within their in-house environments. The company partners with leading hardware, software, and telecommunications companies to create its solution portfolio, which includes options for business continuity, storage, desktop strategy, and unified communications.
Ranking number 29 on the 2014 Software 500, the company reports $4.6 billion software and services revenue. It brings IT and engineering services expertise to solve complex business problems for its clients. Leveraging its extensive global offshore infrastructure and network of offices in 31 countries, HCL provide holistic, multi-service delivery industries such as financial services, manufacturing, consumer services, public services, and healthcare.
The primary service lines at HCL include business services, custom application services, engineering and research and development services, enterprise transformation services, IT infrastructure management services, and gen 2.0 outsourcing. The company serves a long list of target industries, including aerospace and defense, automotive, financial services, consumer electronics, manufacturing, government, life sciences and healthcare, retail and consumer, telecommunication, energy and utilities, industrial manufacturing, and semiconductors.
In a recent customer win, HCL announced that it signed an IT infrastructure transformation contract with the De Beers Group of Companies. By utilizing HCL’s Enterprise of the Future offering, it plans to deliver end-to-end IT infrastructure solutions including data center operations, multi-lingual service desk, LAN management, security services, service management, desk side support, and project services to transform the client’s infrastructure worldwide. HCL already manages the IT infrastructure of De Beers’ majority shareholder, Anglo American plc, and the new contract enables a tighter integration across the two companies with common technology platforms and IT service management.
The engagement involves supporting De Beers’ global presence in Botswana, Namibia, South Africa, the U.K., and elsewhere around the world with HCL taking responsibility for eight data centers across five regions. The scope of the work includes some remote locations such as offshore diamond mining vessels along the Namibian coastline and Snap Lake mine in Canada.
Syntel, Inc. ranked number 109 in the 2014 Software 500, reporting $824.8 million in revenue, a 13.9 percent growth from the previous year. It is a global provider of digital transformation, information technology, and knowledge process services to Global 2000 companies.
The company provides technology services for application lifecycle, business intelligence (BI) and analytics, cloud, enterprise solutions, IT infrastructure management, mobility solutions, and testing. Syntel also introduced a new group in the Spring of last year, Digital One, which combines the company’s experience in industry domains and enterprise systems with next generation technology capabilities in mobility, social, data analytics, Internet of Things, and the cloud. It provides industry solutions for a range of verticals including banking and financial services, healthcare and life sciences, insurance, manufacturing, retail, logistics, and telecommunications.
In the Summer of 2014 Syntel, Inc. announced that two new members were elected to its board of directors, including Nitin Rakesh, CEO/president, Syntel, Inc. and Dr. Vinod K. Sahney, university distinguished professor of industrial engineering and operations research at Northeastern University.
Rakesh was promoted to CEO of Syntel in April 2014 after serving as president—Americas since 2012. He also served as CEO/managing director of Motilal Oswal Asset Management Company, Ltd. and led Syntel’s knowledge process outsourcing business from 2002 until 2008.
Visma Software AS
The Visma Group is comprised of three divisions and is present in 12 countries with a pivot in Northern Europe. The divisions include software small- to mid-sized businesses, software government and large accounts, and business process outsourcing (BPO). The company ranked number 112 on the 2014 Software 500, reporting $796 million in software and services revenue.
Software and services include accounting, payroll and human resource management, invoicing and collection, customer relationship and project management, procurement, and consulting and development for industries including retail IT, accounting practices, agencies and consultants, the public sector, startups, and enterprises.
Last Summer, the company announced the acquisition of a large enterprise resource planning provider in Latvia, which expands its footprint into the Baltic region.
At press time, the company was in the process of acquiring all shares of FMS Group, which provides ERP and BI software in Latvia, with a market share of more than 30 percent.
Relevant to the services segment, IT consulting and staffing featured 33 companies. With the help of consulting and staffing, businesses are able to improve operations without necessarily adding on full-time employees to manage. Within IT consulting/staffing specifically, top contenders from the 2014 Software 500 include CSC, Atos, Synnex, Cognizant, and Invensys.
CSC ranked number 11, reporting a software and services revenue of $14,993 million. The company provides IT solutions to help business, governments, and communities improve business through technology. Its offerings span the cloud, big data and analytics, cybersecurity, application services, consulting, software and IP, business process services and outsourcing, and infrastructure services.
Atos S.A. ranks number 16 with a reported software and services revenue of $11,439 million. The digital services company provides consulting and systems integration services, managed services and BPO, cloud operations, big data and cyber security solutions, and transactional services to a global client base. The company recently announced its plans to acquire Xerox’s ITO business, which will nearly triple its size in the U.S. Through this acquisition, Atos becomes one of Xerox’s primary IT services providers.
Synnex Corp. ranks number 17 with a software and services revenue of $10,845 million. The company provides business process services and optimizes supply chains to provide customer care solutions for its clients. The company offers a range of IT systems and products as well as systems design and integration services. Its Concentrix segment provides a portfolio of end-to-end outsourced services around process optimization, customer engagement strategy, and back-office automation to clients in select verticals.
Cognizant ranks number 19 with a software and services revenue of $8,843 million. The company provides IT, consulting, and BPO outsourcing services. It recently completed the acquisition of TriZetto Corporation. TriZetto software reportedly manages the health benefits of nearly half of the insured population of the U.S., and supports about a quarter of all U.S. care providers.
Invensys plc ranked number 43 with a software and services revenue of $3,305 million. The technology company works in partnership with a range of industrial and commercial customers to design and supply advanced technologies developed to optimize operational performance and profitability. Since the 2014 ranking, the company has become part of Schneider Electric.
Noteworthy Outsourcing Performers
We also cover the top performers in outsourced product development and testing, made up of seven companies and cloud computing management and services, comprised of four companies.
Those in the outsourced product development include—in ranking order—EPAM, Persistent Systems Ltd., Blue Star Infotech Ltd., Coherent Solutions, Trigent Software, TEAM International, and Talentica Software.
Cloud computing management services providers include Axway, Synacor Inc., Infinite Group Inc., and All Digital.
Also noteworthy are Accenture, Hewlett-Packard, and NTT Data, system integration service providers that all ranked in the top 10 in the 2014 Software 500, respectively.
Here to Help
As technology continues to grow more complex with multi-platform demands, real-time analytics, and faster time to market, we expect IT services such as outsourcing, staffing, and consulting to continue to grow. SW
By John P. Desmond
Overall revenue for the 2014 Software 500 companies reached $717.7 billion, up 7.1% from last year’s $670.2 billion, according to findings of the 2014 Software 500 ranking of the world’s largest software and services companies, now in its 32nd year.
The total number of employees in the Software 500 declined slightly to 4,884,000, down 1% from 4,924,121 in last year’s survey, perhaps reflecting a maturing of the overall industry. Average growth in license and service revenue for the 2014 Software 500 companies was 11.6%.
The top 10 ranked companies saw changes this year with IBM and Microsoft retaining rankings No. 1 and 2; Oracle moving up to No. 3; Accenture moving up to No. 4; and HP down to No. 5. EMC and SAP again are ranked No. 6 and 7; while Ericsson moved into the top 10 as No. 8; Apple makes its first appearance in the Software 500 top 10 as No. 9; and NTT Data moves down to No. 10 from No. 8 last year.
Growing most dramatically in the top 10 is Apple, with 25% revenue growth in the ranking year of 2013 to reach $16.1 billion in software and services revenue. Last year, the company ranked No. 38 with $3.5 billion in software and services revenue.
IBM continues to be the top employer in the Software 500, but the company’s head count was reduced to 463,785 from 466,995 the previous year. Second was Hitachi, which increased its head count slightly to 326,240 from 323,540 the previous year.
The average research and development investment for the entire 2014 Software 500 was 13.4% of revenue, up from last year’s average of 12.7% of revenue, indicating attention to technology at the heart of the software business.
Employment growth shifted into telecommunications services, including 20 firms, 154% employee growth; security tools and systems, including 32 firms, 119% employee growth; IT consulting and staffing, including 33 firms, 110% employment growth; and e-business applications (apps) and services, including 22 firms, 108% employee growth.
Revenue Growth Leaders
The number one growth leader in companies with software and services revenues over $1 billion is CGI Group, ranked No. 18, with growth of 110% in the measurement year. Unfortunately for CGI, its federal unit was not renewed as chief contractor for the Healthcare.gov federal Web site in January 2014. The Obama administration signed a 12-month contract with Accenture at that stage. Despite the setback, CGI Federal has since won a number of U.S. government contracts, including with the Department of Homeland Security and the GSA.
Next topping the growth charts at companies over $1 billion is MacDonald Dettwiler and Associates Ltd. (MDA), ranked No. 67, focused on communications, surveillance, and intelligence services, with commercial and government customers. MDA has more than 4,800 employees, primarily in Canada and the U.S. MDA grew at 100% in the measurement year, assisted by the acquisition of Space Systems/Loral, a transaction that closed in November 2012. Today MDA’s customers include NASA, DARPA, the Asia Satellite Telecommunications Company Limited, the U.S. National Geospatial-Intelligence Agency, and the Canadian Space Agency.
Also notable for growth among companies with over $1 billion in revenue is SCSK Corp., No. 52, growing 45% to reach $2.6 billion in revenue. SCSK is a global IT services company formed by the merger of Sumisho Computer Systems Corporation and CSK Corporation in October 2011. Also Constellation Software, No. 91, growing 39% to reach $1.1 billion; salesforce.com, No. 35, growing 34% to reach $4.1 billion; Cognizant Technology Solutions, No. 19, growing 20% to reach $8.8 billion; and Red Hat, No. 74, growing 16% to reach $1.5 billion.
Among companies with between $100 million and $1 billion in software and services revenue, the growth leader is Redknee, No. 243, with growth of 150% to reach $142.1 million. The telecommunications services provider’s subscriber management platform offers converged charging, billing, policy management, and customer care solutions for over 200 communications services providers. In 2012, Redknee acquired Nokia Siemens Networks business support services division.
Next in the growth category is Palo Alto Networks, No. 234, growing 89% to reach $152.4 million in revenue. In a recent contract win, CAME Group, an Italian holding company, standardized on Palo Alto’s security products and was able to eliminate the cost of 50 IT consultants, saving an estimated $2.5 million annually. Tableau Software, No. 207, grew 82% to reach $232.5 million. The business intelligence/analytics software supplier was recently named by the IT analyst firm Gartner among the top business intelligence vendors worldwide. The recently announced Tableau 8.2 adds features including data-driven narratives called story points, connectivity to Microsoft Excel spreadsheets with over 255 columns, and new map designs.
ServiceNow, No. 149, grew 74% to reach $424.7 million in software and services revenue. ServiceNow is a platform as a service provider of IT service management software. A recent survey conducted jointly by the company with KPMG, found that 93 percent of IT management respondents said the role of IT is changing from being an administrator of infrastructure to becoming a driver of enterprise services.
Avigilon, No. 226, grew 72% to reach $173.1 million in revenue. The company designs, manufactures, and markets video surveillance software and equipment. A recent release of the firm’s Access Control Manager product extends functionality for customer companies with up to 32 entry doors. Avigilon was founded in 2004 in Vancouver, BC, Canada. Workday, No. 142, the workforce management company founded by PeopleSoft founder Dave Duffield, grew 71% to reach $469 million in revenue.
Advanced Computer Software, No. 187, grew 70% to reach $309 million in revenue. The company provides software and IT services to the public, private, and not-for-profit sectors. The Advanced Health & Care unit of the company recently won a contract with Sussex Partnership NHS Foundation Trust, one of the biggest mental health service provider organizations in the U.K. Sussex purchased Carenotes, a patient information system from Advanced Health, to be rolled out to 5,000 staff members over the next two years.
Splunk, No. 188, grew 52% to reach $302.6 million in revenue. Focused on operational intelligence and analysis of big data, the firm recently lowered prices up to 33% for its Splunk Cloud offering. Splunk Cloud is now available in the U.S. and Canada starting at $675 per month for up to 5GB/day of data indexed.
Among companies with between $50 and $100 million in revenue, the leader is FireEye, No. 300, growing 136% to reach $73.3 million in software and services revenue. FireEye provides threat forensics and malware protection against advanced persistent threats and spear phishing. The FireEye platform incorporates a virtual execution engine, complemented by dynamic threat intelligence that works to identify and block cyber attacks in real time.
Marketo, No. 280, grew 64% to reach $96 million, with its marketing automation software catching on.
Trintech, No. 321, grew 39% to reach $59 million in revenue on the strength of its products for account reconciliation, bank reconciliation, journal entry, compliance, financial close, and financial reporting.
SciQuest, No. 285, supplier of cloud-based business automation services for spend management, grew 36% to reach $90.2 million in revenue. Rally Software Development, with its enterprise software tools aimed at driving business agility, grew 31% to reach No. 298, with revenue of $74.4 million.
Among companies with between $30 and $50 million in revenue the leader is WorkForce Software, offering workforce management software for large employers, reaching No. 334 with growth of 67% to reach $48.3 million. Next is BlackLine Systems, No. 357, growing 46% to reach $36.6 million, offering visibility and control over the financial close, with account reconciliation software.
Jagged Peak, No. 338, grew 28% to reach $47.5 million, based on increased popularity of its outsourced ecommerce and supply chain support products. BlackDuck Software, No. 352 with 23% growth to reach $42 million, provides consulting and software to enable enterprise adoption of open source software.
Among companies with $10 to $30 million in revenue, the growth leader is 3D Systems Corp., specializing in 3D printers, 3D imaging, and customization software. 3D saw 348% growth to reach No. 396 with revenue of $21 million. Jacada, No. 417, supplying products to support interaction with customers, grew 89% to reach $19.8 million.
SoftClub, No. 403, grew 63% to reach $14.8 million. SoftClub is a group of companies in eastern European countries including Russia and the Ukraine, with customers in banking, finance, and the public sector. Miratech, No. 405, an outsourcing provider headquartered in Sweden, grew 33%. The company’s development organization has achieved the Software Engineering Institute’s CMM Level 3 certification.
The telecommunications services business sector saw an employee growth rate of 154% compared to last year, with 20 firms employing a total of 105,802.
The leader in the category is Ericsson, No. 8, with growth of 3% and revenue of $16.8 billion. In two recent contract wins, Ericsson was selected by Vodafone India to deploy its Charging System to 75 million prepaid customers, offering services such as real-time balance notifications, and self-service plan adjustments. The five-year agreement calls for Ericsson to replace a legacy infrastructure. In another recent win, Ericsson was selected by Telefonica VIVO to bring next-generation television to Brazil. The Ericsson AVP 4000 is based on the company’s first-ever video chip, which enables broadcasters to achieve greater velocity in deploying new video services.
Juniper Networks, No. 28, saw growth of 7% to reach $4.7 billion in software and services revenue. Global footwear manufacturer, Nike recently selected Juniper to help it create its highly scalable, next-generation data center cloud and retail network infrastructure. Juniper’s MetaFabric architecture will be the basis of virtualized data center worldwide. Additionally, global financial services firm UBS has selected Juniper to help build its next-generation data center network infrastructure. Juniper will employ the routing, switching, and security features of MetaFabric’s open architecture to support current and future business goals.
Tangoe, provider of connection lifecycle management software for mobile, fixed, cloud, social, and IT users, reached No. 219 with growth of 22% to reach $189 million in software and services revenue. Tangoe recently signed a partnership agreement with Samsung to provide the Samsung KNOX mobile security product to Tangoe’s global enterprise customers supporting Samsung mobile devices. The KNOX container creates a secure zone on the employee’s device. Tangoe also recently announced its Bring Your Own Device Advisory Service, providing a team of experts to assist customers with implementation of a bring your own device model.
8×8, provider of cloud-based unified communications, saw growth of 25% to reach No. 278 with $98.2 million in revenue. The engineering and architecture firm Barge, Waggoner, Sumner, and Cannon recently deployed 8×8 Virtual Office services to 400 users in its Nashville, TN headquarters and other U.S. offices. The product allows employees to make and receive calls on their smartphone using the 8×8 mobile app, which makes it appear as if they are using their office phones. 8×8 also recently reached a partnership agreement with Telecom Brokerage (TBI), a technology service provider, allowing TBI’s 2,000-plus agents to offer 8×8’s communications services to TBI customers worldwide.
The security tools and services business sector saw employee growth of 119% to reach 215,514 employees in 32 firms. The category leader again is Symantec, with growth of 3% to reach $6.9 billion, No. 23. In product trends, Symantec recently reported a mobile product development surge focused on providing secure access to mobile apps, content, and devices, as well as business email protection. Also, recent enhancements to Norton Small Business, for firms with 20 or fewer employees, are focused on cybersecurity. Features include guaranteed virus removal, mobile device protection, easy management and prices of $99 annually for five devices, $199 for 10 devices, and $399 annually to protect 20 devices.
Gemalto, a leader in digital security headquartered in Amsterdam, grew 10% to reach No. 45 with $3.2 billion in software and services revenue. The company recently announced plans to acquire SafeNet, a leader in data protection and software monetization, which in 2013 had revenue of $337 million. In a recent contract win, Gemalto was selected by China Telecom to support the commercial rollout of mobile services; China Telecom has more than 183 million subscribers. Also, Gemalto recently won a multi-year contract to supply ePassports to the government of the Republic of Moldova. The product will enable visa-free travel for Moldovan citizens to the European Union.
Fortinet, a leader in high-performance network security, grew 20% to reach No. 181 with $330 million in software and services revenue. The Spanish hotel chain PROTUR Hotels recently selected Fortinet’s technology to secure its wireless networks in all of its establishments. The hotel chain implemented Fortinet’s firewall appliances, thin wireless access points, and a logging, analysis, and reporting appliance. Fortinet also recently announced enhancements to its Web Application Firewalls for Amazon Web Services (AWS), to include on demand, pay-as-you go offerings. FortiWeb-VM for AWS can now be utilized on an hourly or annual subscription basis, complementing existing bring-your-own-license options.
Proofpoint, No. 246, grew 30% to reach $138 million in ranking revenue. From its roots in email security, Proofpoint later branched into appliances running its anti-spam software. In May, Proofpoint announced the acquisition of NetCitadel, known for its automated security incident response products, to add additional threat verification and containment capabilities. Also in May, Proofpoint announced it was selected by LinkedIn into the LinkedIn Certified Compliance Partner Program. The enriched LinkedIn features allow organizations to maintain compliance in an increasingly social enterprise. A 2013 Osterman Research survey found that enterprise use of LinkedIn grew to 33% in 2013, and is expected to grow to 64% by the end of 2014
Imperva, offering data center security products, reached No. 247 with $138 million in revenue and growth of 32%. Imperva’s Skyfence unit for controlling cloud apps recently announced a version of Skyfence Cloud Gateway to address blind spots and security gaps created by the adoption of unauthorized cloud apps. Skyfence is architected to enable the save and production use of apps such as GoogleApps, NetSuite, Office 365, and salesforce.com by monitoring activity, assessing risk, and protecting data in the cloud.
Linoma Software, provider of secure file transfer and encryption products, reached No. 465 with revenue of $6.1 million and growth of 26%. Linoma was recently added to the General Services Administration list as a Schedule 70 contractor, with its GoAnywhere product. The GoAnywhere Managed File Transfer suite offers secure data exchange, secure file hosting, and a reverse and forward proxy gateway that protects server identities and user passwords.
The healthcare business sector saw employee growth of 16% to reach 101,016 employees in 22 companies. The leader is McKesson Corp., No. 44, with software and services revenue of $3.3 billion and growth of 4%. McKesson delivers pharmaceuticals at a retail level and provides health information technology, medical supplies, and care management tools.
In a recent win, Premier Medical PC, a 12 physician group providing emergency medical services for St. Vincent’s East Hospital in Birmingham, AL, selected McKesson Business Performance Services to reduce overhead, improve coding and billing, and strengthen financial and clinical reporting. Premier Medical handles about 53,000 emergency visits annually at St. Vincent’s East. In another win, Gonzales Healthcare Systems in Gonzales, TX, selected a range of medical imaging products from the company. Following a competitive evaluation, the hospital chose McKesson for the ability of its products to integrate patient data, test results, and images. Gonzales operations a 34 bed acute-care community hospital.
Cerner Corp., No. 48, a global supplier of healthcare IT products and services, grew 9% to reach $2.8 billion in revenue. Cerner recently announced the acquisition of the health IT business unit of the German industrial conglomerate Siemens AG for $1.3 billion in cash. The move positions Cerner, a provider of electronic medical records products, to tap rising spending on software by hospitals and doctors. As part of the agreement, Cerner and Siemens enters into a strategic, three-year alliance building on Cerner’s health IT business and Siemens’ medical devices and imaging.
Elsewhere for Cerner, Via Christi Health of Kansas is implementing an $85 million electronic health records system to allow providers and patients faster access to their records. The system is a pilot program for Ascension Health, the nation’s largest non profit and Catholic healthcare system, which acquired Via Christi last year. The system, called OneChart, serves all of Via Christi’s Wichita hospitals and clinics.
Healthstream, No. 252, grew 28% to reach $132 million in revenue. The company offers software as a service products for training and learning management, talent management, performance assessment, credentialing, and managing simulation-based training programs. Results Physiotherapy, operating in six states, recently selected the firm’s OneApp product to speed the time it takes to check credentials of physical therapists. Rapid City Regional Hospital in SD recently chose the OneApp product to transition from a paper-based process to an electronic process. The benefits have included reduction in receivables, and higher physician satisfaction.
Benefitfocus, No. 269, a company offering online benefit enrollment support, grew 28% to reach $105 million in revenue. ALCO Stores, a TX-based retail chain, recently selected the firm’s products to support benefits administration in response to additional requirements impose by the Affordable Care Act. Also, Kent Corp. recently adopted the company’s products to support benefit enrollment for its dispersed workforce of more than 1,600 employees. Based in Muscatine, IA, Kent has operating subsidiaries involved in corn wet milling, animal feed production, and the manufacture and sale of food products.
Each year, the Software 500 gives us the opportunity to step back and see how trends within the software and services industry unfold on a revenue and growth basis. The following pages provide our 32nd annual Software 500 ranking, based on software and services revenue from the 2013 fiscal year. Visit www.softwaremag.com for the online version, which provides search and sort capabilities, as well as comparative tools for archived years. This tool is free and simply requires site member registration. SW
Oct2014, Software Magazine
By John P Desmond
Popular BI technology components today include multi-dimensional aggregation, real-time reporting with analytical alerts, interpretation of unstructured data, rolling forecasts, statistical inference, simulations, optimizing key performance indicators (KPIs), and process management.
BI tools provide a view of historic, current, and predicted business operations. The functions of BI tools include online analytical processing, data mining, performance management, text mining, predictive analytics, and marketing management.
The overall market for software, hardware, and services for business analytics is approaching $100 billion, according to market research firm IDC. “The focus on big data is driving interest in the rest of business analytics solutions,” says Brian McDonough, analyst, IDC.
IDC identifies additional interest in the business analytics market including the acceleration of acquisitions to extend into new markets, new product entries, acquisitions of software suppliers by service firms, acquisitions of application (app) vendors by tool vendors, and growth of cloud business analytics products at a faster pace than the overall market.
For large and mid-sized organizations working on adopting business analytics products and services, the challenges include data governance, security, and privacy; enabling business users with self-service capabilities; deciding on the organization structure needed to support enterprise-wide business analytics needs; finding appropriate IT talent; and support for the multiple technologies needed to address the range of requirements, according to McDonough.
In this piece, we review the services offered by top ranking suppliers of BI software tools in the 2013 Software 500.
SAS Institute ranks number 43 on the 2013 Software 500, reporting $2.9 billion in software and services revenue in the ranking year of 2012, and five percent growth over the previous year. The company is a player on all BI fronts. Based in Cary, NC, SAS is one of the world’s largest privately held software companies. It is rooted in a research project at North Carolina State University, which is headed by a team including James Goodnight, who continues to run the company as CEO.
Marketing automation tools from SAS are at work in Staples, the major office supply retailer chain with stores in 27 countries. Understanding that the best way to build loyalty is to target customers individually, Staples has come to rely on SAS Analytics for predictive modeling and SAS Marketing Automation for fine-tuned marketing campaigns.
“A substantial part of the retail customer base engages us online by using the Web site to research a product,” states Jim Foreman, director of circulation and analytics, Staples. “They might use it to find the closest stores or quickly see what’s currently on sales. My team is involved in the analysis of online and offline customer behavior, building linkages between the two to provide us with a complete picture of the company,” he says. “The marketing automation product enables Staples to bridge work on the analytics side with campaign generation and execution.”
Staples also utilizes SAS products to reduce customer attrition. When spending for a regular customer drops, the company sends personalized offers to bring them back to the store. “Our data is among the most valuable assets we have,” notes Foreman. “We want to be able to mine it effectively and discover nuggets that can generate incremental sales and profit. SAS Marketing Automation does that for us.”
Verint Systems, Inc., ranking number 96 on the 2013 Software 500, grew more than seven percent to reach $839.5 in revenue for the ranking year. The company describes itself as a supplier of “actionable intelligence” solutions for the enterprise. Its products are reportedly in use by more than 10,000 organizations in more than 150 countries.
Verint’s Impact 360 product line employs BI process management for workforce management and BI monitoring to track KPIs. For example, AAA Washington, the travel and insurance firm, uses the Impact 360 Quality Monitoring and Impact 360 Speech Analytics products to identify issues that affect its overall service to customers and to comply with insurance industry regulations.
“We are in a constant state of improvement,” states Janet Ryan, director of call center operations, AAA Washington. “We are always looking for ways to optimize operational efficiency and the customer experience.”
Using the Quality Monitoring product, AAA Washington says it achieved a 400 percent gain in efficiency of agent evaluations, enabling twice as many evaluations to be done in half the time. The Speech Analytics products help the organization focus on interactions that matter most to its business, from customer complaints to frequently asked questions. This leads to greater customer satisfaction.
Qlik Technologies, number 151 on the 2013 Software 500, grew at 21 percent to reach $338.5 in revenue in the measurement year. The company offers the QlikView Business Discovery software platform to help organizations use data strategically; the software’s in-memory architecture is designed to speed performance. Its intuitive user interface helps the analyst connect the business to the technology.
The formula worked for Surgical Information Systems (SIS), which recently announced an expansion in the integration of the QlikView platform and SIS Analytics product set to enhance operative information systems—addressing the time before, during, and after patient surgery.
SIS was recently selected by San Francisco Generation Hospital and Trauma Center to help automate surgery and anesthesia documentation processes. SIS integrated with the Siemens Soarian enterprise health information system, covering operating room scheduling, pre-admission testing, nursing documentation, and an anesthesia information management system.
San Francisco General selected SIS to help providers share information, reduce redundant documentation, and free up more time to focus on patient care. The anesthesia information management system resides on a single database to enable care providers to document the continuum of surgical care. “We are looking forward to comprehensive perioperative analytics with SIS to drive efficiency, reduce waste, and improve value to our patients in the operating room,” comments Dr. Jenson Wong, anesthesiologist/chief medical information officer, San Francisco General Hospital.
Ellen Derrico, director of global market development, life sciences and healthcare, QlikTech, adds, “in an industry where improved access to information enhances patient care, QlikView’s flexible platform enables users to navigate and drill in any direction to get the most pertinent information fast. We look forward to continuing our work together with SIS to deliver an advanced analytics solution.”
Actuate, number 245 on the 2013 Software 500, reached $138.8 million in revenue in the ranking year. The company is the first to propose the BI and Reporting Tools (BIRT) open source software project to the Eclipse Foundation in 2004. The project was approved and the initial project code base designed and developed by Actuate was donated to the Eclipse Foundation.
The BIRT project aims to provide reporting and BI capabilities for rich client and Web applications, and to address a range of reporting needs including multi-dimensional online analytical processing. The project is supported by an active community of users at BIRT Exchange and developers at the Eclipse.org BIRT Project page.
BIRT is the foundation of the ActuateOne platform, which allows developers to rapidly build business analytics apps that can integrate any data, including unstructured sources. Among its 5,000 customers is Johnson Controls, a $32 billion facilities management company. The company sought to benchmark performance and compare regions across 500 measurements used in 33 contracts. The data gathering required for this proved time consuming and inefficient.
Johnson Controls selected ActuateOne for its Global Performance Scorecard application, which has resulted in performance metrics viewable in a single place, and greater efficiency calculated to produce a $500,000 return on investment in one year. “Upper management can look at top-level measures while service delivery, human resources, safety, finance, and customer satisfaction managers can drill into the details. The ability to view performance metrics worldwide, in a single place is phenomenal,” says David Mercier, manager, Johnson Controls.
He says the scorecard app provides the company with a competitive advantage.
Tableau Software ranks number 250 on the 2013 Software 500. The company grew at 104 percent in the measurement year to reach $127.7 million in revenue, which was spun out of research at Stanford University into visualization techniques for analyzing relational databases. The founders created a database visualization language called Visual Query Language—or VizQL. The product queries relational database, cubes, cloud databases, and spreadsheets, and then produces a number of graph types that are combined into dashboards and shared over networks.
Tableau’s customers include Tesla Motors, the electric car manufacturer. The company uses the software to help keep production on schedule. One advantage Tesla notices is greater speed in producing new types of reports. Will Bishop, senior test engineer, Tesla, states, “the speed of making, publishing, and sharing with folks has vastly accelerated. It is starting to unify different groups in Tesla looking at the same data, in a much more integrated effort. It’s a mix of empowering people to connect to data, and the adventure of exploration. I can’t imagine going back.”
Another Tableau customer, the Millard Public School district in Omaha, NE, uses the product to report on student data for teachers, administrators, and district leaders. The district relies on dashboards on Tableau servers to provide insight. “When someone has a data request, or a question that needs to be answered, we’re able to provide that answer in a timely way,” says Tami Williams, director of assessment, research and evaluation, the Millard Public Schools. “I used to spend a lot of time merging multiple spreadsheets of random data on students. Tableau allows a building administrator to select the assessments they want, and the student they want, and create a grid quickly, saving hours.”
Future plans call for the district to use Tableau Public to make data more accessible to public stakeholders.
Personify, which changed its name from TMA Resources in August 2013, ranks number 365 on the 2013 Software 500, reporting revenues of $34.4 million. The new name is derived from the company’s flagship customer relationship and association management software product Personify, now called Personify360.
Personify aims to help leading associations and non-profit organizations optimize relationships and achieve sustainable success. “Our company is at the forefront of change in our industry. Our solutions and services help clients personalize their relationships with constituents. The name Personify helps us communicate that promise in a single word,” says Edi Dor, president/CEO, Personify.
“We recognize that associations and non-profits face multiple challenges today, such as changing demographics and increased sources of completion. Our products and services help such organizations get in front of these challenges,” adds Paul Gannon, VP, marketing, Personify.
The Credit Union National Association (CUNA), the national trade association serving U.S. credit unions, provides services to its 7,000 members. Interested in having its members be better enabled to maintain its own data and to automate more of the backroom processing of registrations and product purchases, CUNA made the move to Personify several years ago. “Our main goal for the e-Business Suite at launch was for it to put power in the hands of our member credit unions,” ntoes Timothy York, senior project manager, CUNA. “We believe that our members’ information is their own, so they should have the control to manage it, from paying bills to updating profiles to signing up for meetings.”
Products from SecondFloor BV, based in the Netherlands, rank number 204 on the 2013 Software 500. With revenue of $17.4 million and growth of 15 percent, the company focuses on analyzing risk and gathering data needed for regulatory and management reporting.
The company’s eFrame 3.2 recent release of the governance, workflow, and process control software, controls data gathering and aggregation of reports produced in IBM Cognos. The new version also integrates with IBM’s Algo Financial Modeler, which helps with regulatory compliance and actuarial modeling challenges, and with Matlab, the technical computing language developed by MathWorks.
eFrame’s integration with Cognos enables Cognos users to produce reports with greater confidence, from relying on eFrame’s taxonomy driven data model. “Data management and data quality are issues beginning to surface at the board level. It is ultimately the board’s responsibility to ensure that reports and submissions are accurate,” states Martin Knook, CEO, SecondFloor. “To encourage healthy practices, you have to make it intuitive for people to make their contribution. This is what eFrame’s Structured Data Viewer achieves.”
A European bank used SecondFloor’s Analyzer product to map its current systems and data to help meet the deadline for a new regulatory requirement. The Analyzer product report hierarchies, processes, people, and responsibilities within a complex organization to uncover inefficiencies, gaps, and dependencies. The SecondFloor consulting team modeled 13,000 data points in Analyzer, then deployed the software to discover and map where each of the data points currently existed, or should exist, with the organization. In a matter of weeks, the exercise helped the bank position to meet the new requirements.
In the short term, IDC’s McDonough predicts that more vendors will provide analytic services and content as well as technology; a shortage of big data technology skills will drive more buyers towards cloud alternatives and packaged analytical applications; the skills shortage will lead to a greater focus on automation and outsourcing of analytic services.
For the longer term future, McDonough says that transaction-based pricing for analytics services will become widespread, such as price per recommendation; commercial use of artificial intelligence will widen to combine audio, video, and image recognition software; and big data analytics into intelligent response systems. Moreover, IDC projects that a new generation of consumers will increasingly give up some privacy in exchange for more personalized services, such as in call centers, retail stores, and automotive.
We’re entering an exciting time for BI, with solutions consistently improving and new products emerging. As organizations realize the benefits of leveraging data, these tools become an essential component of future business performance and growth. SW
Apr2014, Software Magazine
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