CAST Sees Accelerated Growth and Rising Demand
Year-to-date growth highlighted by emerging markets, growing channels, and a fundamental market shift in awareness
New York, NY - November 7, 2013 - CAST, the leader in software analysis and measurement, today announced it is experiencing steady positive growth as a result of a groundswell of new customers in traditional and emerging markets, increased channel development, major product updates, and an IT industry waking up to focus its attention on software quality and risk.
The company can report positive growth numbers with a 9.6 percent increase in software revenue year-to-date as of Q3, and 16.8 percent increase in Q3 overall results from the same quarter last year. Management expects these numbers to continue trending upwards from here on.
“IT executives are starting to understand the increasing sensitivity of getting in front of software risk and being able to measure development productivity,” said Vincent Delaroche, CEO of CAST. “The increasing pace of IT blunders in headlines is causing a shift in thinking among business and technology executives. We’re seeing the first signs of management taking accountability for software health and resiliency, coupled with the willingness to actively manage productivity, which is perfectly in line with CAST’s established position in the marketplace.”
The company brought in several new direct customers in Q3 -- UnitedHealthCare Group, Huawei, Booz Allen, Military Health, L’Oreal, Natixis, RWE – many of which are in industries that traditionally lag in structural quality management, representing several important beachheads in new segments for CAST and structural quality.
The other important demand driver has been the need to measure performance in ADM activities, mainly expressed by the business, by the CFO, especially in global sourcing situations. The recent standardization of Function Point metrics by the Object Management Group (OMG) has led several governments to drive a more computable approach to performance measurement across their agencies. Today, CAST is the leading provider of solutions that comply to the OMG standard.
In addition to direct customers, CAST’s investments in channel development are beginning to pay off, seeing the acquisition of significant major new enterprise and state government clients in partnership with major systems integrators. Channel development is a strategic scale agent for CAST that is seeing significant traction this year.
Bookending this positive growth from new and current customers, the media has been increasingly reaching out to CAST experts to explain the current state of software development and why major IT projects keep failing. CAST is clearly establishing itself as a thought leader around structural quality issues with mainstream press, analysts and regulators.
Lastly, as previously announced, CAST has released two major updates to their flagship products in Q3: The Application Intelligence Platform, and its SaaS offering CAST Highlight. These updates will keep CAST technology years ahead of the competition in enterprise grade software analysis and measurement for risk prevention, ADM productivity measurement, and rapid application portfolio assessment.
CAST is a pioneer and world leader in Software Analysis and Measurement, with unique technology resulting from more than $100 million in R&D investment. CAST introduces fact-based transparency into application development and sourcing to transform it into a management discipline. More than 250 companies across all industry sectors and geographies rely on CAST to prevent business disruption while reducing hard IT costs. CAST is an integral part of software delivery and maintenance at the world's leading IT service providers.
Founded in 1990, CAST is listed on NYSE-Euronext (Euronext: CAS) and serves IT intensive enterprises worldwide with a network of offices in North America, Europe and India.
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