Workday News Page Data:
Title: No Man Is an Island: The Promise of Cloud Computing
Publication: Knowledge Wharton
Abstract: Reducing -- or eliminating -- hardware and other operating costs naturally also appeals to corporate users, many of whom are moving toward subscription-based "software as a service" (abbreviated SaaS). Online business applications offered by companies such as Salesforce.com (for customer relationship management) and Workday (for human resources and financial software) can not only replace expensive programs that would run on companies' premises, they can reduce the need for corporate computer servers and the related costs of maintaining them. With SaaS, companies pay subscription fees for usage rather than licensing costly enterprise software. SaaS is a growth industry: A new study by Forrester Research concludes that even in the current recession, software-as-a-service providers are seeing double-digit growth in their subscription revenue. Ariba, a Sunnyvale, Calif.-based procurement software-as-a-service company that had been left for dead after the Internet bubble burst, saw a 73% jump in its subscription revenue, from $18.8 million in the third quarter of 2007 to $32.6 million in the same period in 2008.
Date: Apr 01, 2009
URL: http://knowledge.wharton.upenn.edu/article.cfm?articleid=2190