Cherwell Software Sustains Momentum with Record-Breaking 2014
February 12, 2018 - Colorado Springs, CO.
Customer demand, customer satisfaction and customer retention fueled Cherwell Software’s growth and record revenue in 2014. The company is on a similar trajectory for 2015.
Tweet This: Cherwell records best year in company history and is poised for similar growth in 2015.
To meet worldwide customer demand, Cherwell expanded operations globally, doubled their employee base, and tripled their number of certified partners. Cherwell Software also acquired Express Metrix, which immediately extended the company’s IT asset management capabilities and added an office in Seattle, Washington. Coupled with the addition of an office in Munich, Germany, Cherwell Software is better positioned to meet global demand.
To support indirect sales activities, the company tripled the number of partners globally and formalized a Technical Implementer Certification program. Cherwell Software now has hundreds of certified individuals capable of implementing its solution. “As Cherwell Software increases its global market presence, VAR’s, regional services organizations, global systems integrators, as well as service providers are anxious to expand their relationship with us,” said Peter Dunlap, vice president of partners and alliances at Cherwell Software. In 2015 Cherwell plans to expand its channel resources globally by over 200 percent and is improving its sales enablement and fee structure.
In remaining aligned to their goal of delivering a best in class service management tool, Cherwell’s 5.0 release brought the industry’s first and only mergeable application solution to the market, providing customers the means to easily extend the out of the box capabilities through a community-driven mApp Exchange, negating the need for skilled labor or third-party professional services. Independent market research firm OVUM recognizes Cherwell Service Management 5.0 as the most significant release in company history because it enables IT leaders to deliver strategic business value across the organization via mApp™ solutions, a community-driven mApp Exchange, business intelligence and mobile improvements.
Cherwell Software was recognized as a Leader in “The Forrester Wave™: ITSM SaaS Delivery Capabilities, Q3 2014” report by Forrester Research, Inc. ranking as one of the three IT service management (ITSM) SaaS vendors that stands apart from the others in the Forrester Wave evaluation. Cherwell was also positioned the highest for ability to execute in the Challengers quadrant by the independent research firm of the 2014 Magic Quadrant for IT Service Support Management (ITSSM) Tools Report, as well as making movement on the completeness of vision axis, for the third consecutive year. Also Cherwell Service Management was awarded the highest score in configurability, self-service and integrations in ITSM Review’s ITSM Tools Universe report.
These activities helped to drive 50% growth and an unrivaled 98.4 percent customer retention rate—bringing Cherwell Software’s customer count to more than 1200. As awareness increases, Cherwell continues to strengthen its position as a recognized ITSM market leader. To contextualize the company’s incredible growth, Cherwell Software ranked 102 on Deloitte's 2014 Technology Fast 500™, a ranking of the fastest growing technology-based companies in North America. During the reviewed period, Cherwell Software grew 1172 percent, tying with LinkedIn and surpassing Box, Hubspot, and Facebook.
About Cherwell Software
Cherwell (@Cherwell) empowers organizations to transform their business through the rapid adoption and easy management of digital services. Cherwell’s adaptable platform has enabled thousands of organizations to modernize their business operations with customizable service management, automation, and reporting across the enterprise. For more information, visit: https://www.cherwell.com.