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ServiceNow Ranked Number Five Fastest Growing Company in North America on Deloitte's 2011 Technology Fast 500(TM)Five-Year Revenue Growth of 32,000 Percent Placed the Company First in California (October 19, 2011)
SAN DIEGO, CA -- (Marketwire) -- 10/19/11 -- ServiceNow, the creators of SaaS for IT, today announced it ranked number five on the 2011 Technology Fast 500, Deloitte's ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies. For the five-year period measured by Deloitte, 2006-2010, the ServiceNow fiscal year revenue growth rate was 32,048 percent. These results placed ServiceNow first in California for all companies measured by Deloitte.
ServiceNow CEO Frank Slootman credits the disruptive and innovative nature of its software and platform as-a-service solutions as a key factor in its success. "ServiceNow's growth trajectory has been unmatched in our industry, underscoring the unusually strong demand for its cloud management services over the past five years," said Slootman. "During this period, many of the largest and most innovative enterprise IT organizations in the world such as CERN, Skype, UBS and Wellcome Trust have come to rely on ServiceNow day in and day out."
Wellcome Trust is using ServiceNow to automate IT and focus more of its resources on research to help people. "Our work has already delivered measurable cost-savings in excess of 600,000 pounds Sterling," said Mark Bramwell, Wellcome Trust head of IT. "We have designed better processes based on ITIL v3, then automated these using cloud services from ServiceNow. As we run IT operations more efficiently, these savings allow our organization to dedicate more funds towards its research programs in helping to progress advancements and tangible improvements in health."
"ServiceNow, like all 2011 Technology Fast 500 companies, has excelled in fostering innovation and channeling it into spectacular growth -- against the backdrop of one of the most challenging economies in history," said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP. "Deloitte recognizes ServiceNow for its remarkable accomplishment."
"We are pleased to honor ServiceNow as a 2011 Technology Fast 500 company," said Mark Jensen, managing partner, technology and venture capital services, Deloitte & Touche LLP. "As one of the fastest growing tech companies in North America, ServiceNow has demonstrated excellence in technological innovation, entrepreneurship and rapid growth."
About Deloitte's 2011 Technology Fast 500
Technology Fast 500, which was conducted by Deloitte & Touche LLP, a subsidiary of 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 2006 to 2010.
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.
ServiceNow was created to break all the old rules of enterprise IT management software. Born in the cloud, ServiceNow makes IT immediate, social and intuitive. From the beginning, the company set out to give IT people powerfully simple cloud services that just work. Today, the world's most recognizable and innovative companies rely on SaaS from ServiceNow to transform IT. Founded in 2004, ServiceNow was recently named by Inc. 500 as one of the fastest-growing companies in the world and is the undisputed market share leader in SaaS for IT. For more information, please visit http://www.service-now.com or http://blog.service-now.com.
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