Reval holds rank in cloud top 500
U.S. – Reval holds its rank as the largest provider of a Software-as-a-Service (SaaS) solution for Treasury and Risk Management (TRM), says the company. According to Apps Run The World (ARW), an ICT market research firm, Reval placed 80th on the ‘Cloud Top 500’, ARW’s newly-released list of the world’s 500 largest cloud application vendors, ranked by subscription revenue.
“ARW’s new study validates the trend away from licensed software as much as it demonstrates the growth of cloud-based applications,” says Justin Brimfield, chief marketing officer at Reval. “Vendors trying to retro-fit their licensed applications to the cloud will soon find out that the market can’t be fooled. Those applications weren’t built to scale or support the speed of innovation required for today’s business environment. What’s missing is the ability for both vendors and users to leverage the economies of scale and the communal benefits associated with multi-tenant SaaS solutions.” Reval provides both treasury and risk management solutions on a single-version, multi-tenant SaaS platform for over 600 of the world’s most complex global organizations.
According to the study, the cloud applications market is “… projected to reach $67 billion in cloud subscription revenues by 2018, compared with $30 billion in 2013. Its compound annual growth rate of 17 per cent through the forecast period stands in sharp contrast to the conventional on-premise software market, which is expected to contract 1.5 per cent during the same period.” The study is based on the 2011 to 2013 cloud subscription revenues of more than 500 application vendors.
Earlier this year, Reval ranked eighth on ARW’s list of the Top 100 TRM Application Vendors. Reval’s year-over-year revenue growth in 2013 of over 20 per cent made it the largest and fastest-growing TRM in the top 10. ARW projects the TRM market to reach $3.5 billion in software revenues by 2018 at a CAGR of 9.3 per cent after topping $2.2 billion in 2013.
“I would like to commend Reval for becoming part of the Cloud Top 500 in our annual Apps Run The Cloud Survey,” says Albert Pang, president of Apps Run The World. “Leveraging the ubiquity of the cloud, Reval has made great strides in broadening the appeal of TRM applications and reshaping the overall market.”