It has been a bad month for some companies providing project portfolio management (PPM) and other related SaaS solutions. Daptiv (formerly eProject) has been sold off to a private equity firm after 2008 financials reported a $2 million USD net loss on $18 million in gross revenue. The company was also forced to lay off almost 15% of its workforce in the past year. Despite promises that the company will continue to provide its services under the ownership of a private equity firm, a great deal of uncertainty looms heavy over Daptiv’s customers. Read article here.
In the same week, news broke about Intuit’s QuickBase and other hosted solutions being repeatedly unavailable to clients over the past month with reported outages on June 16, 17, 20 and July 14 and 21. Read article here.
In light of recent reliability and solvency issues in the PPM and SaaS marketplace, it is important to reiterate our company’s commitment to fiscal stability and reliability. For the past 11 years, VCSonline has been focused on fiscal responsibility and extremely high customer service. To that end, we want to assure our current and future customers that we have made proactive rather than reactive investments in the very best technology and hosting services, which give our customers confidence that VPMi will be available when they need it. We have also fostered a business culture and philosophy of living within our means and letting our growing revenue and customer base fund the investment in our company and product. Our revenue and customer growth over the past 12 months have given us the ability to continue investing in the latest technology and building a better product for our customers. It has earned recognition by Gartner and inclusion on their Magic Quadrant for PPM solutions.
To all of our current and future customers, our pledge is to make good headlines that reinforce the value proposition of SaaS and hosted PPM solutions. We know that this is the very best way to quickly introduce PPM technology into an organization with the least possible risk and cost. It is the future for PPM software and we strongly believe the recent failures by some providers will not impact the rapid move to this delivery model for software solutions.