September 30, 2009 – Calgary, Alberta – Replicon Inc., a market leader in web-based time tracking software, today announced that it has, once again, been recognized in Software Magazine’s Software 500 – a list of the world’s foremost software and services providers. This year’s inclusion marks Replicon’s fifth year in a row on the Software 500, which is used as a field guide for IT managers tackling critical business issues.
“Being honored within the same category as Microsoft, IBM, and Oracle is a huge accomplishment for our team and we are very proud to once again be recognized on this list,” says Raj Narayanaswamy, Chief Executive Officer of Replicon. “Although the technology industry has been very vibrant, customers have become more fiscally cautious and expect stronger rates of return when purchasing software applications today – which bodes well for Replicon because our timesheet and expense management solutions positively impact the bottom line.”
“Innovation is alive and well in the software industry, and in this, the 26th year of the Software 500, new companies continue to rise up – more than 100 of them in this year’s ranking,” says John P. Desmond, Editor of Software Magazine and Softwaremag.com. “The total 2009 Software 500 revenue is $491.2 billion, an 8.7% increase over last year’s total software and services revenue of $451.8 billion.”
The Software 500 is a revenue-based ranking of the world’s largest software and service suppliers targeting enterprise IT organizations. Of the companies included in the list, 42% are privately owned. Receiving this award for the fifth year in a row reaffirms Replicon’s profound growth and success in the software industry.