The numbers are in, and 2011 is now officially a big year for SaaS growth here at Tensoft, with a 24% growth rate in annual billings from Cloud-based offerings.  For a year when many similar businesses lost market share and had to cut back on their investment activities, we're pretty pleased at these results.

Here's what Tensoft President and CEO Bob Scarborough had to say about this: "Having hosted applications since 2005, Tensoft made a concerted company decision to re-energize its web native software strategy on Cloud-based offerings during the trough of the recession in 2009 when it was unpopular to make tough investment choices.  As a result, we are now more than two years ahead of a number of our competitors and enjoying double digit SaaS billings growth."

In addition to achieved 24% annual recurring revenue growth, Tensoft had a number of other notable successes in 2011, including:

• Added a record number of new customers, including leaders in the software, semiconductor and technology industries.
• Tensoft Revenue Cycle Management software earns Certified for Microsoft Dynamics accreditation.
• Successfully replaced multiple competitors' customer sites with Tensoft applications.
• Tensoft earns gold level in the Microsoft Partner Network ERP competency.
• Hosted Momentum 2011, the sixth annual user conference for Tensoft Fabless Semiconductor Management's worldwide customer base.
• Tensoft High Tech Dashboard (HTD) product selected as one of the top 15 most useful add-ons worldwide for the Microsoft Dynamics GP business solution.
• Bob Scarborough, Tensoft CEO, speaks at GSA Semiconductor Ecosystem Summit.
• Sponsored eight CPE-eligible webcasts and training courses for software and high tech industry professionals.
• Added strategic partnerships with leading advisory firms for the promotion and delivery of Tensoft's revenue management applications.
• Tensoft Cloud data center operations maintained SAS 70 certification and ISO 27001 registration.
• Approved as an educational webcast and seminar provider by the National Registry of CPE Sponsors.