OREM, Utah—September 17, 2009—Recently released research sponsored by AtTask from Aberdeen Group reveals how to successfully execute a project and portfolio management strategy that focuses development resources on profitable projects. Michelle Boucher’s report titled: Managing the Innovation Portfolio: Enabling Engineering Success to Boost Profits, addresses the negative impact of the current economic recession and what best-in-class organizations are doing to increase profits and capture 25% more revenue from new product development and introduction compared to the industry average.
“Due to the product portfolio management practices the Best-in-Class are following, they enjoy a profit margin increase 2.9 times that of the industry average,” said Boucher, “clearly indicating they are making better decisions about their product portfolios leading to greater success.”
In today’s economic climate, as organizations are faced with shrinking budgets and limited resources, business leaders are forced to look for ways to optimize profitability. The research demonstrates that new products have a 20% margin advantage when compared to older products. The report offers guidance to those looking to achieve greater profitability with a product portfolio management strategy that focuses development resources on the right product ideas while balancing risk.
“The findings of this recent Aberdeen research are very consistent with what we find as we engage with our customers,” said Kevin Hayden, Chief Marketing Officer for AtTask. “The biggest challenge for business leaders in the world today, is making certain that initiatives undertaken at the project level are those that will make their companies more effective, innovative, and competitive. Customers turn to us because AtTask has an immediate impact on improving profitability in today’s economic climate.”
The research further suggests that organizations that have not deployed product portfolio management solutions will be at a competitive disadvantage and will forego the benefits of 25% more revenue from new products than competitors and a 19% increase in product profit margins. A complimentary copy of this report is available HERE.
Recent AtTask Highlights
* AtTask named an industry leader in SaaS/on-demand IT project management software by IDC1
* AtTask recognized as the market share leader in Gartner’s Market Share: Project and Portfolio Management Software, Worldwide 2008 Report2 with 90.0 percent share growth, outpacing the market by 12x
* AtTask named a visionary in the Gartner Magic Quadrant for IT Project and Portfolio Management3
* AtTask named “Best Project Management Software” with a 2009 CODiE award
* AtTask received the TopTenREVIEWS Gold Award for the third year in a row
* AtTask momentum continues through Q2 with increased revenue growth, strong customer acquisition, and project management software innovation
* Companies like Driscoll’s, Johns Hopkins, National Geographic, Penn State, Simmons Foods, Verizon Wireless, and others choose AtTask’s project management software to align business goals with project execution
* Global successes in Europe, the Middle East and Africa (EMEA) exceeded all projections in Q2
* The Project & Portfolio Management Summit, held in June, brought together senior IT executives from the PPM business community who awarded AtTask a “Project & Portfolio Management Innovation Award” for “Best Presentation”
* Organizations from all over the world enjoyed an exciting program of industry analyst presentations and customer success stories during AtTask’s first ever User Conference held in May
1 IDC MarketScape: IT Project and Portfolio Management, 2009 Vendor Analysis (IDC #219087)
2 Gartner, Inc. “Market Share: Project and Portfolio Management Software, Worldwide, 2008” by Laurie F. Wurster et al, May 20, 2009
3 Gartner, Inc. “Magic Quadrant for IT Project and Portfolio Management” by Daniel B. Stang and Michael Hanford, June 2, 2009
About AtTask, Inc.
AtTask (www.attask.com) is the project and portfolio management (PPM) solution that focuses all knowledge workers on those activities that make them and their company more effective, innovative, and competitive. Its platform-independent and multilingual solution increases efficiency for small- to medium-sized businesses and Fortune 500 companies across the globe. AtTask's clients include American Airlines, Chevron, Cisco Systems, GE Healthcare, Google, HBO, Johnson & Johnson, Newsweek, Samsung, Toyota, Walt Disney, and Whirlpool.
About Aberdeen Group, a Harte-Hanks Company
Aberdeen provides fact-based research and market intelligence that delivers demonstrable results. Having queried more than 30,000 companies in the past two years, Aberdeen is positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to Aberdeen for insights that drive decisions.