BELLEVUE, Wash., Nov. 13, 2014 /PRNewswire/ -- Apptio®, the leading provider of cloud-based Technology Business Management (TBM) software, today announced it ranked No. 64 on Deloitte's Technology Fast 500™, a list of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Apptio's placement on this prestigious list is due in large part to its rapid growth and success over the past year.
Apptio CEO, Sunny Gupta credits the company's success to its customer-centric approach and to creating a new market that solved a major challenge for IT leaders as tech spending continues rising. Apptio created the Technology Business Management (TBM) software category which provides a new way to manage the modern IT environment. "IT is moving from a cost center to a value creator and IT leaders who are successful are driving business alignment and managing IT as a service, balancing the demands for on-premises and cloud services," said Gupta. "Our approach has always been to put customers' needs at the center - we listen intensely to our customers and focus on making them successful, and our product innovation stems from solving customer challenges."
"The companies ranked on the 2014 Deloitte Technology Fast 500 continue to set the bar for their industry higher each year," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. "There are so many exciting products and smart thought leaders driving this list. We congratulate the Fast 500 companies and look forward to seeing them continue their momentum into 2015."
"For 20 years, the Deloitte Fast 500 rankings have honored the innovation that is part of these companies' DNA," added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. "We're glad to be serving these high-growth companies, and helping the technology sector recognize the great strides and transformation these companies are making in their respective areas."
Overall, 2014 Technology Fast 500™ companies achieved revenue growth ranging from 135 percent to 123,678 percent from 2009 to 2013, with an average growth of 1,640 percent.
Dedicated to helping IT leaders manage IT more like a business through business analytics, Apptio counts more than one-third of the Fortune 100 among its customer base. Industry leaders such as Kaiser Permanente, Cisco, First American, DIRECTV, General Motors, and U.S. Bank all choose Apptio's TBM applications.
About Deloitte's 2014 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2009 to 2013.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years and be headquartered within North America.
Apptio is the leading provider of cloud-based Technology Business Management (TBM) software that helps CIOs manage the business of IT. Apptio's suite of applications use business analytics to provide facts and insights about technology cost, value, and quality, so IT leaders can make faster, data-driven decisions. The purpose-built applications help companies align technology spend to business outcomes and automate IT processes like cost transparency, benchmarking, showback/chargeback, operational efficiency, and planning. Powering Apptio's applications is a next generation, in-memory cost analytics platform that takes data directly from all financial, operational, and billing systems, and powers applications that give customers deep insight. This insight spans infrastructure, applications, and business services, both on-premises and in the cloud. Hundreds of customers, including more than a third of the Fortune 100, choose Apptio as their business system of record for IT.
Apptio is sold through its direct salesforce and its partner network. For more information, visit the Apptio website or the Apptio blog at www.apptio.com.