PowerSteering Completes 2011 with Record Number of New Customers, Strong Sales, & Top Analyst Ratings

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Business-Driven PPM Resonates with Market Compelled to Demonstrate Financial Results

We enjoyed robust performance in 2011 across all dimensions of the business, and our ‘Strong Positive’ rating in the Gartner PPM MarketScope validated our strengths of ease of use and time to value now expected by the market.

PowerSteering Software, the leading provider of business-driven project & portfolio management (PPM) solutions, today announced a record year for new business sales, existing customer expansion and profitability.

Customers in diverse industries and with distinct portfolio management needs embraced PowerSteering to address their PPM challenges more strategically whether those challenges reside in IT, PMOs, Performance Improvement, Innovation or Merger Integration business areas.

“We enjoyed robust performance in 2011 across all dimensions of the business, and our ‘Strong Positive’ rating in the Gartner PPM MarketScope validated our strengths of ease of use and time to value now expected by the market,” remarked Stephen Sharp, PowerSteering's Chief Executive Officer.

Select new customers added in 2011 include:

*Air Products: a $10.1 billion supplier of atmospheric gases, process and specialty gases with operations in 40 countries, and 18,900 employees.
*Cargill: an international producer of food, agricultural, financial and industrial products with operations in 66 countries and 142,000 employees.
*Christie’s: the world's leading art business with global auction and private sales of £3.3 billion/$5.0 billion in 2010.
*Freshfields Bruckhaus Deringer: provides business law advice throughout Europe, the Middle East, Asia and the US with over 2,500 lawyers in 27 global business centres.
*Frito Lay: The $12 billion convenient foods business unit of PepsiCo.
*HSN: a leading interactive multichannel retailer that broadcasts live to 96 million US households and offers an assortment of exclusive products and top brand names.
*MB Financial Bank: Provides a wide array of commercial and personal banking products in the Chicago area with nearly $10 billion in assets.
*NASA: the US government agency responsible for the nation's civilian space program, aeronautics and aerospace research.
*Red Hat: the world's leading open source technology solutions provider.
*RSA, The Security Division of EMC: the premier provider of security, risk and compliance management solutions.
*Texas A&M University System: One of the largest higher education systems in the nation, with a network of 11 universities, seven state agencies and a health science center.

PowerSteering received exceptional industry recognition in major analyst reports throughout the year. It earned the highest possible rating of “Strong Positive” in Gartner’s “MarketScope for Project and Portfolio Management Applications,” which evaluated 30 vendors against criteria such as customer experience, offering (product) strategy, product/service, and market responsiveness/track record. Gartner also recognized PowerSteering as “Visionary” in the 2011 Magic Quadrant for IT Portfolio Management, from which many PPM vendors were excluded entirely due to their inability to support non-project portfolios such as applications and IT services. Additionally, Info-Tech Research Group named PowerSteering an Innovator in its “Enterprise Project Portfolio Management Vendor Landscape,” with an “Exemplary” rating for driving user adoption and overall product strength.

Two significant product releases were introduced in 2011. Version 9 brought advanced portfolio and program management improvements for better performance management with the availability of related work dashboards and advanced portfolios. New functionality also allowed customers to automatically replicate successful projects across locations to maximize financial benefit. PowerSteering 9.1 extended portfolio value with integrated project and resource planning which gave users real-time visibility of resource scheduling and allocation conflicts for quick resolution.

About PowerSteering Software

PowerSteering Software is the leader in business-driven project & portfolio management (PPM) solutions for managing Performance Improvement, IT Governance, New Product Development, and other Business PMO initiatives. Its easy-to-use software provides executives at BayCare, Johnson Controls, Merck, PolyOne, Shaw Industries, UK National Health Service, US Department of Defense, and over 140 other customers with executive visibility, strategy alignment, and team productivity to drive strategy and accelerate results across the organization. PowerSteering was rated “Strong Positive” in the "MarketScope for Project and Portfolio Management Applications" published by Gartner, Inc.

For additional information:
Linda Duchin

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Linda Duchin