Statpro Invests in Cloud-based Software Development with its Newest Offering, StatPro Revolution

Software development and the cloud are often thought of as having synergistic approaches. While there are differences, software development provides a good underlying approach to best leverage many cloud capabilities. Enterprises can move to cloud computing in many ways. Simply hosting existing software applications is a quick way that provides some benefits, but to take full advantage of cloud computing, applications need to be designed differently to take advantage of global-class architectures. Companies that make the transition early to cloud-based software application development and availability have been shown to have good success.

Now, Statpro has begun the transition from traditional software to cloud based software in a year of increased investment in cloud technology solutions. The company’s most recent earnings before interest, taxes, depreciation, and amortization (EBITDA) was reduced by 28 percent to £6.12 million; in 2010 the amount was £8.45 million. Application architecture issues are of paramount importance in leveraging cloud computing, and Statpro’s newest offering, StatPro Revolution (News - Alert), takes advantage of those synergies.

According to Justin Wheatley, CEO of Statpro, “We have achieved our key objective for 2011 with the successful commercial launch of StatPro Revolution and with over 60 clients already signed up and many more in the pipeline, the potential is evident and our focus in 2012 will be entirely on StatPro Revolution. The unique nature of the service and strong uptake to date, mean that despite the ongoing financial and economic crisis, we look forward to 2012 with great confidence.”

Cloud-based services can be exploited in a variety of ways to develop a software solution. The least-disruptive approach is to continue using traditional tools and techniques. A more sophisticated model would be to build a program that will uniquely exploit cloud-centric distributed and parallel processing capabilities, then run the resulting program in the cloud. Developers can also create and execute applications internally. All these approaches demand new skills and techniques to build, deploy, manage and maintain applications.

Statpro’s latest announcement along with its earnings reports shows the company is on a healthy track toward achieving its goals. As Wheatley recently commented, “The transition from traditional software to cloud based software requires investment but also offers considerable opportunity for growth and profits. With nearly £30 million of contracted annual recurring revenue and high levels of cash generation we enjoy a strong financial platform on which to build.”