'The OLAP Report' Says Adaytum Software Rises to Number-Two Position for Budgeting and Business Planning Software.
Adaytum - The Fastest Growing Company In The Market -- Leapfrogs
Past Comshare - By Providing Complete Bottom-Up/Top-Down
Solution That Goes Beyond Budgeting To Encompass Business Planning
Adaytum Software, the leading supplier of business planning solutions, today announced that "The OLAP Report," an influential and widely respected industry watcher, has calculated that Adaytum has risen to the number-two position for market share in the budgeting and business planning software market.
"The OLAP Report" discloses this month that Adaytum has leapfrogged past Comshare (NASDAQ:CSRE) and trails only industry behemoth Hyperion Solutions (NASDAQ:HYSL) for the lead. Adaytum is the fastest-growing company in this market space, with a four-year compound annual growth rate of 84 percent.
"Adaytum's rapid growth is an illustration of how a well-focused smaller company can out-grow larger, more diverse enterprises," said Nigel Pendse, lead author of "The OLAP Report" (http://www.olapreport.com). "We estimate that Adaytum Planning overtook Comshare BudgetPLUS a few months ago to move into the second position in the budgeting market behind Hyperion Pillar, which has a much larger market share, but a low growth rate. Adaytum Planning's balanced top-down and bottom-up planning technique seems to be proving more popular with users than the other approaches."
ADAYTUM GOES BEYOND BUDGETING TO BUSINESS PLANNING
"We are absolutely delighted by the results of this new study," said Guy Haddleton, chief executive officer for Adaytum Software. "We recently completed our most successful fiscal year ever. With sales leaping from $5 million in fiscal 1997 to nearly $11 million in 1998, to more than $20 million in 1999, we continue to ride the crest of a wave of phenomenal growth.
"We believe the reason for the market's rapid movement to Adaytum is because Adaytum can provide true business planning solutions that extend far beyond budgeting. Our unique ability to accommodate and foster both bottom-up and top-down business planning will continue to set us apart."
ABOUT "THE OLAP REPORT"
"The OLAP Report" (http://www.olapreport.com), published by Business Intelligence in the U.S. and U.K., is a strictly independent, on-line and printed publication that includes dozens of OLAP product reviews, case studies and extensive OLAP explanatory sections. It is not vendor sponsored or subsidized and takes no advertising. The Web site provides free information open to anyone plus a large amount of subscriber-only content.
ABOUT ADAYTUM SOFTWARE
Founded in 1990, Adaytum Software develops and markets "best-of-class" budgeting, planning, and performance analysis software for medium- and large-sized corporations whose requirements have grown beyond the scope of the spreadsheet environment. Adaytum Software is an international, privately held company with offices in the U.S., U.K., and Denmark. The company's flagship product, Adaytum Planning, is used by more than 10,000 users in a broad spectrum of business planning applications, including budgeting, planning, forecasting, consolidation, management reporting, product profitability analysis, and activity-based costing. For more information, visit the company's Web site at www.adaytum.com or call 800/262-4445.
Adaytum is a trademark of Adaytum Software. All other trademarks or registered trademarks are property of their respective holders.
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|Date:||Aug 25, 1999|
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