Panaya Named Red Herring Top 100 Europe Tech Startup

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Companies were selected based on financial performance, technology innovation, management quality, strategy, and market penetration

Panaya - Making ERP Easy

“We’re proud and excited to be selected for the Red Herring Europe Tech Startup list,” said Yossi Cohen, Panaya’s CEO. “This recognition comes at a time of amazing growth in our customer base and product line"

ERP Upgrades and Test Automation SaaS provider, Panaya, was selected for the Red Herring Top 100 Europe Tech Startup list in an awards ceremony held in Amsterdam, Netherlands.

Red Herring’s Top 100 Europe list has become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, and eBay would change the way we live and work.

Panaya’s software-as-a-service helps companies reduce the cost of running SAP ERP and Oracle EBS by 80% by automating upgrades, testing, and maintenance. Panaya’s cloud-based supercomputer is the backbone of Panaya’s SaaS solution, simulating upgrades by running ERP customers’ custom code on the target release, showing them what will break and what to test. Having helped hundreds of customers like Mercedes-Benz, The Home Depot, Sony, and Bosch on their SAP ERP upgrade and support pack projects, Panaya recently expanded its offering to Oracle EBS customers.

Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Europe.

“We’re proud and excited to be selected for the Red Herring Europe Tech Startup list,” said Yossi Cohen, Panaya’s CEO. “This recognition comes at a time of amazing growth in our customer base and product line. Our latest Test Automation and Oracle EBS R12 Upgrade Automation solutions are quickly penetrating the market and we’re working hard to keep up with the increasing demand for our solutions.”

“Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across Europe to the Top 100 Winners. We believe Panaya embodies the vision, drive and innovation that define a successful entrepreneurial venture. Panaya should be proud of its accomplishment, as the competition was very strong.”

About Panaya:
Panaya's software-as-a-service helps companies that use SAP or Oracle reduce 80% of their ERP upgrade and testing risk and effort. Utilizing a cloud-based supercomputer, Panaya simulates the upcoming upgrade, automatically pinpointing which custom programs will break as a result of the upgrade and automatically fixing most of these problems.
Panaya’s testing solutions dramatically expedite ERP testing and eliminate the need for manual test script maintenance. Seamlessly capturing business knowledge in the background, as users work with the ERP applications, Panaya automatically generates plain-English test scripts that are rapidly executed and continually self-adjust based on test results.
For further information visit the Panaya web site at http://www.panayainc.com.

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Udi Ledergor
Panaya
415-329-0200
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