Organization Incorrectly Characterized in Recent Analyst Report.
PORTLAND, OR - As a result of a misunderstanding when interpreting a statement provided by ProSight, Gartner incorrectly characterized ProSight as having abandoned the market in their June 23, 2006 report entitled Magic Quadrant for Project and Portfolio Management. Gartner promptly corrected and republished the report, as well as notified all report recipients of the error.
ProSight asked to be excluded from this report, and this led to the misunderstanding, said S. Caine O'Brien, ProSights vice-president of marketing. ProSight's solutions are used for many investments in addition to projects, including capital planning, business lines, marketing, Information Technology (IT) applications, IT security, new product development, research, and even war-fighting capabilities.
ProSight applies its industry-leading portfolio management solutions to enable enterprises to plan and control investments of all types, providing the optimum value to the business. While many vendors offer PPM solutions that focus on managing projects, ProSight emphasizes the establishment of an investment management framework to ensure the right initiatives get funded and perform as expected. Investment management is very different from project execution and resource allocation, O'Brien added. As such, ProSight partners with Microsoft and others to extend its environment for project execution management.
ProSight has enjoyed a CAGR (compounded annual growth rate) of over 50% for the last three years in both its commercial and government businesses, and is profitable. According to Gartner, the worldwide PPM software license market has an estimated annual growth rate of 9.6% based on revenue. (Market Share: Application Development and Project and Portfolio, Laurie Wurster, Fabrizio Biscotti, 18 May 2006). We are sorry for the confusion this misunderstanding has caused our customers and prospects. We are reconfirming that we have not, and will not, leave the PPM space, O'Brien emphasized.
ProSight offers world-class Enterprise Investment Management solutions for government and business. These solutions drive the planning and control for all types of business or technology investments, deploying objective, auditable processes and metrics, while facilitating collaboration among all stakeholders. ProSights customers get rapid results, including rationalization of current spending, optimization of support for the business, and active governance to obtain the highest possible return on investment. For more information on ProSight and our customers success, visit www.prosight.com.
Media and analyst contact
For media and analyst inquiries, please contact Steve Hall, Marketing Manager, ProSight, Inc., 503.889.4887, firstname.lastname@example.org.