Geac, a global enterprise software company for business performance management, announced its hosted solutions business has experienced a significant increase over the past two years. There are more than 132,000 seats of Geac Performance Management presently under contract. Recently, a multinational financial services institution increased its total hosted seats of Geac Expense Reports and Geac Travel Planning by 20,000 a clear testament to Geac's flexible deployment options. In France, the market continues to show demand for hosted solutions. Geac's Anael business signed three new customers in the quarter, building recurrent subscription revenues for Geac's business in that region.
Geac's hosted solutions represent one of several application delivery and deployment options the company offers its customers, as part of its commitment to provide flexibility and choice. Geac's expanded application delivery model also includes licensed software and usage-based programs.
Geac has developed reliable, secure and scalable deployment options in a global effort to respond to customer demand and enhance overall user satisfaction. As a result, Geac is creating more value for its global customers by delivering solutions in the form and function that best meets their distinct business requirements. Geac itself uses its fully hosted offering internally for employees to process expense reports, timesheets and travel planning across the public Internet.
According to industry research firm IDC, companies spent more than $2.3 billion last year for software delivered as a service, up from $1.8 billion the year before. IDC predicts that the market will reach $8 billion by 2007.
Laurie McCabe, vice president and practice director at industry research firm Summit Strategies, adds, "The [ASP] model is going to stick around for a really simple reason: Software is getting more complex, not less complex, to run and manage. You have to worry about security, user access, changes and everything else that has to happen, and it's getting harder and harder for companies to do that effectively.
When you think about it, if you're managing one instance of an application, you can't possibly be as well versed in the pitfalls, problems and solutions as if you're managing 50 or 1,000 instances. It's an area where companies are going to be looking for help, no matter what it's called."
The benefits of deploying Geac solutions via a hosted service include reduced up-front investment in the technology infrastructure needed to support the applications, as well as reduced impact on the company's internal information technology (IT) staff and resources. In addition, customers can be operational much faster products can be deployed in 90 days, versus four to six months for typical licensed software deployments.
In addition, Geac ensures that best practices are employed for the products. Because Geac has considerable experience in the business disciplines involved, the company can help customers improve their business performance by redesigning the process from end-to-end. Staying current with the latest version of the software is managed by the Geac team, reducing professional services fees when upgrades are required in the future. Customers can choose to pay by the month or pay for what they use "by deliverable." By hosting Geac solutions for a monthly fee, companies can benefit from a more predictable cost model, enabling them to effectively manage and measure their overall business performance. The usage based model is designed to give small and mid-sized businesses a way to afford best-in- class enterprise scale solutions, which until now generally were feasible only for the Fortune 1000.
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