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xTuple Sees 250% Growth as Software’s Old Guard Contracts Along with Economy
Demand for open source ERP drives banner 2008, strong start in 2009
NORFOLK, Va. - xTuple, the leader in open source enterprise resource planning (ERP) software, today announced record revenue growth in 2008, with sales up 250 percent year-over-year compared with 2007. Tightening IT budgets across all industries are spurring a rise in demand for open source solutions, helping fuel xTuple’s success, along with aggressive product development guided by a continuous conversation among customers, partners and the broader open source community. xTuple is unseating incumbent software providers and beating them to new customers by delivering the cost-effectiveness and flexibility associated with open source solutions, along with the reliability, scalability and support required by Fortune 500 and smaller enterprises alike.
Highlights of xTuple’s 2008 growth include:
xTuple’s customer base more than doubled in the past year, with a broad array of new commercial users in manufacturing, retail, and distribution industries throughout the United States, Canada, Europe, India, and Australia.
xTuple’s success in attracting new customers and partners has required more staff, and the company doubled its headcount in the past year. While other vendors are downsizing by the thousands, xTuple is looking to hire many more employees in the coming months, as well as dramatically expand its partner program.
xTuple ERP: PostBooks Edition is consistently ranked among the top ten projects on the SourceForge open source download portal, where it has been downloaded over 200,000 times by IT and ERP professionals around the world.
xTuple’s industry stance was recently recognized through the “Market Leader” awards of CRM Magazine and the “Best Business Application” at the LinuxWorld Conference & Expo 2008.
“We are very pleased with our success in 2008 and are seeing continued growth in 2009, as larger enterprises scrutinize their current software vendor relationships, and growing companies look for greater visibility into their operations to maximize profitability in tough times. The current economic climate has made more urgent the need for low-cost, high-value solutions that deliver immediate return on investment,” said Ned Lilly, president and CEO of xTuple. “As a result, more companies are looking to open source solutions. xTuple has been at the forefront of bridging the worlds of open source and ERP software, and will continue to innovate and lead in response to this massive market need.”
xTuple ERP is available in the PostBooks, Standard and Manufacturing Editions, which run equally well on Mac, Windows and Linux computers and are fully internationalized with multi-currency, support for multiple tax structures, and multilingual translation packs maintained by the global open source community. All this and more, including public discussion forums, a documentation wiki, blogs, and the community issue/bug tracker, can be found at www.xtuple.org.
xTuple (formerly OpenMFG) develops next-generation, enterprise-class business process applications powered by open source software such as Linux, PostgreSQL, and Qt. xTuple products give companies better control over operations, increased productivity, and measurable growth across all areas of their businesses -- all at a lower cost of ownership. For more information, please visit the company web site at www.xtuple.com.