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        Ventana Research Estimates Market for Spreadsheet Management to Reach $500 Million by 2011

        Spreadsheet Management software market points to new demand and rapid growth


         

        SAN MATEO, Calif.—(BUSINESS WIRE)—December 13, 2006—The emerging Spreadsheet Management software market will skyrocket over the next five years, increasing more than 33-fold to $500 million by 2011, according to Ventana Research’s just completed analysis of this new software category.

        Spreadsheet Management applications are ones that monitor and manage issues of errors, auditability and control that inevitably occur when corporations use stand-alone spreadsheets in collaborative, repetitive, enterprise-wide tasks. Spreadsheets have been an essential business tool for more than a quarter-century, but their use means that companies have had to grapple with too many undiscovered mistakes and too few controls, particularly for sensitive or business-critical spreadsheets. Errors in spreadsheets have led to large operating losses and even earnings restatements by public companies. Existing spreadsheet software does not offer a practical way to audit and manage the thousands of these most important spreadsheets. Over the past two years, numerous companies have introduced products that address these shortcomings.

        The Ventana Research report, The Spreadsheet Management Market – Worldwide Demand Forecast 2006-2011, offers a number of important new observations about this emerging market, among them:

         

        • Worldwide demand for Spreadsheet Management software will approach $500 million by 2011, up from $15 million in 2006

         

        • Adoption will be fastest in more heavily regulated businesses, particularly financial services, but slow in government entities despite their need for fiscal controls

         

        • North America and northern Europe will be the two largest geographic markets

         

        “Spreadsheets are not going away.” said Robert Kugel, SVP and Research Director for Financial Performance Management at Ventana Research. “Many earlier attempts to control them have been rejected because they limit the flexibility and ease of use that make spreadsheets indispensable in the first place. The rapid growth we see is a result of the new software’s ability to offer the best of both worlds, giving users the same flexibility but making it feasible to manage and control all of the spreadsheets used, even in the largest corporations.”

        The report is available for $1495 by contacting clientservices@ventanaresearch.com or visit http://www.ventanaresearch.com/ssm for more details. 

        Note to Editors:  A copy of the report is available to the media upon request by contacting sandra.freeman@ventanaresearch.com.

         

        About Ventana Research

        Ventana Research is the leading research and advisory services firm focused on the intersection of people, processes, information and technology to enable breakthrough performance.  By providing expert insight and detailed guidance, Ventana Research helps clients operate their companies more efficiently and effectively. To learn how Ventana Research Performance Management workshops, assessments and advisory services can impact your bottom line, visit www.ventanaresearch.com.

        Media Contact: Marisela Reynoso  

        (925) 242-2579 marketing@ventanaresearch.com

        © 2006 Ventana Research

        Ventana Research

        Ventana Research

        Ventana Research, now part of Information Services Group, provides authoritative market research and coverage on the business and IT aspects of the software industry. We distribute research and insights daily through the Ventana Research community, and provide a portfolio of consulting, advisory, research and education services for enterprises, software and service providers, and investment firms. Sign up for free community membership to receive email notifications on research and insights.



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