Increasing Demand Drives CAST Growth
Major customer acquisitions and growing demand for objective software measurement drive strong results in 2014
November 12, 2014—New York—CAST, the leader in software analysis and measurement, today announced continued growth and strong year to date performance in Q3 2014, with new customer acquisitions, a transitioning business model, and growing industry interest in objectively assessing structural software risk and measuring Application Development and Maintenance (ADM) activity. CAST saw significant growth from last year with year to date revenue increasing by 11.4 percent as a direct result of the growing sense of urgency around managing software risk and measuring outcomes.
“We are in the midst of a strategic sourcing shift, with IT executives wanting to pay for outcomes rather than time and materials, while demanding higher levels of visibility into productivity and software risk,” said Vincent Delaroche, CAST CEO. “Measuring outcomes and risk is typically a manual, time intensive and costly process. Our technology, implementing industry standard software measurement, provides the solution for IT to baseline and trend ADM performance and certify applications. It’s a game changer for both IT executives and service providers.”
In Q3, CAST was adopted by another global systems integrator as its standard measurement system for ADM activity. At present, almost all the major global ADM services providers are using CAST to measure their ADM performance. Other customer wins in the most recent quarter include Fannie Mae, The US Department of State, BNP Personal Finance, and Booz Allen Hamilton.
CAST continues to transition its business model from primarily a software license business to an enterprise-SaaS and managed services business. This mildly slows revenue growth in the short term but will increase revenue stability and margins in the mid- and long-term.
CAST is a pioneer and world leader in software analysis and measurement, with unique technology resulting from $120 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 and software risk. 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 offices in North America, Europe and India.
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