OREM, UT — June 22, 2010 —AtTask Inc. (www.attask.com) announced today that its Chief Financial Officer, Michael Olson, was named 2010 CFO of the Year by Utah Business magazine. AtTask is a leader in project management software and is pioneering the use of social media concepts to improve how companies get work done.
Utah Business will honor 16 Utah CFO's who have played a strategic leadership role for their companies. In concert with the CEO, these executives have guided their organizations through the recent economic downturn by managing resources, instituting innovative thinking, and creating financial stability and growth.
"To be recognized among the leading financial executives in Utah is truly an honor," says Olson. "AtTask has an amazing product, top-tier customers, and most importantly dedicated employees who are truly focused on helping our customers get the right work done."
Olson credits sound financial management and strategic vision and direction for growing AtTask's total bookings by over 45% in 2009 over 2008. Also during 2009, Olson led a company-wide mission to redefine and improve core operating metrics and processes, which have provided a higher level of accountability in the company. Improvements were most notable by a strong increase in customer renewal rates, an increase in average license value across the Company's customer base, and an increase in monthly recurring revenue.
"Mike has developed processes that have enabled our operational growth while supporting our long-term business objectives," says CEO Scott Johnson. "He is a thoughtful advisor who has been instrumental to our success, not only for his financial management abilities, but also for his keen business insights and trusted leadership."
Olson is responsible for all finance, legal and human resources functions within AtTask. He has implemented numerous financial and operational controls and established a month-end close process that reduced the monthly close time from 15 days to two days. Olson is a graduate of Utah State University, earning a Bachelor's of Science in Finance and a Master's of Accountancy and is a certified public accountant.
About AtTask, Inc.
AtTask (www.attask.com) is a leader in project and portfolio management (PPM) and is pioneering the use of social media concepts to enable new levels of collaboration and cooperation among teams. The goal of AtTask is to help companies get work done. The company's multilingual SaaS platform increases productivity for small- to medium-sized businesses and Fortune 500 companies across the globe. AtTask's clients include Cisco Systems, GE Healthcare, Google, HBO, Johnson & Johnson, Newsweek, Toyota, and Whirlpool.