PowerSteering Software Continues Momentum in PPM Market with Q2 Performance

Client acquisition remains strong, with many new customers selecting PowerSteering's project portfolio management software to run business PMOs and programs outside of IT

July 22, 2010

Cambridge, MA -- PowerSteering Software, the leader in on-demand enterprise project & portfolio management (PPM) solutions, announced today that it achieved strong business results for the quarter ending June 30, driven by continued customer acquisition and expansion.

“We’re capitalizing on the market trend to extend PPM across the organization, with many customers selecting PowerSteering to manage project portfolios outside of IT, in such areas as Merger Integration, New Product Development and Continuous Improvement programs,” noted Stephen Sharp, PowerSteering's Chief Executive Officer. “Our versatility, ease-of-use and configurability make PowerSteering the ideal choice for business-driven PPM.”

Key new client wins during the quarter were led by:

• APL Logistics - a worldwide supply chain services company with more that $1 billion in annual revenue
• DeKalb Medical - a not-for-profit health system comprised of 3 hospital campuses and headquartered in Decatur, GA
• Goldman Sachs JBWere - a pre-eminent financial services organization that provides a wide range of investment, financing, securities, asset and wealth management services to clients throughout Australasia
• NASA Jet Propulsion Laboratory - the lead US center for robotic exploration of the solar system, it also conducts major programs in space-based Earth sciences
• Vertex Pharmaceuticals - a global biotechnology company committed to the discovery and development of breakthrough small molecule drugs for serious diseases
• One of the world’s largest enterprise software companies

Sales were further bolstered by expansion at several existing customers, such as Con-way Freight, Lloyd’s Register, Tyco, and the UK Highways Agency.

Other key highlights from the quarter included:

• Being recognized as “Visionary” in Gartner Research’s 2010 Magic Quadrant for IT Project and Portfolio Management.
• Formalizing a partner relationship with IBENOX, an Australian consulting and training firm specializing in business change and process improvement. IBENOX will provide local support and expertise for PowerSteering customers across the Asia Pacific region.
• Receiving a Best of SaaS Showplace (BoSS) Award. The BoSS Awards is an ongoing program which recognizes software-as-a-service (SaaS) companies that are producing tangible business benefits for their customer organizations.
• Releasing PowerSteering 8.1, featuring several ease-of-use and end-user productivity enhancements.
• Conducting two thought leadership webcasts, “Curing Common Product Development Ailments with Project Portfolio Management,” featuring Roy Wildeman of Forrester Research, and “Dispelling the Maturity Myth: How to Focus PPM on Business Value.”

About PowerSteering Software
PowerSteering Software is the leader in On-Demand Enterprise PPM software for managing IT, New Product Development, Six Sigma and other enterprise initiatives. Its easy-to-use software provides executives at Acosta, Ingersoll Rand, Merck, United Health Group, US Department of Defense, and over 140 other customers with executive visibility, strategy alignment, and enhanced team productivity to drive strategy and accelerate results across the enterprise.

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For additional information:
Linda Duchin
617-995-5763