Revenues increased 80% YTD 2012. Sales bookings up 154%
DENVER, October 18th, 2012 – Spinnaker Support, the global market leader of third-party maintenance, co-sourcing, and consulting services for enterprise software, including Oracle Corporation’s (NASDAQ: ORCL) JD Edwards software and SAP AG (NYSE:SAP) software, today reported strong results for its 2012 year to date reporting period ending September 30, 2012.
After closing its books, the Company reports that it achieved record revenue and new business sales growth across the first three quarters of 2012. The continued success of the business has been driven by the launch of their SAP Maintenance services as well as and the increasing demand for JD Edwards support services including maintenance, co-sourcing and consulting. Third quarter revenues are up 80% on a year-over-year basis, and sales bookings have increased 154%.
Analyst reports and media coverage continue to validate the third-party maintenance market, its value proposition, and the long term potential of the business model. According to Nick Castellina with Aberdeen Group, “many organizations are simply unhappy with the support provided by their ERP vendor.” Moving to third-party support also allows companies to “cut costs and extend the lifecycles of their ERP solutions.”
“The Company continues to see strong growth across all of its JD Edwards and SAP maintenance offerings, and we don’t see this trend changing…even with the litigation issues being experienced by other vendors,” said Matt Stava, Managing Principal for Spinnaker Support. “Third-party maintenance and support, when performed within the proper parameters, provides great value to companies looking for better service at a lower price.”
Sales bookings are based on non-cancellable contracted revenues, not based on projected future renewal transactions.
About Spinnaker Support
Spinnaker Support, the global market leader for JD Edwards and SAP third-party maintenance, co-sourcing and consulting services, helps companies maximize their ERP software investments. Whether companies are planning to replace their high-cost maintenance provider or are seeking supplemental maintenance support for their ERP applications, Spinnaker Support has a solution to fit their needs. More than 160 clients worldwide have chosen Spinnaker Support as their provider of choice. Spinnaker Support services are available across the globe via offices located in Denver, Singapore and London.