SOURCE: MuseWorx

November 18, 2008 08:00 ET

MuseWorx Achieves Dramatic Growth as Global Financial Crisis Drives Businesses to Cut Costs With SaaS Solutions

MuseWorx Expands Executive Ranks, Adding 30-Year Finance Veteran Stephen Barrett as CFO to Help Manage Growth

NEW YORK, NY--(Marketwire - November 18, 2008) - MuseWorx, a global leader and innovator in on-demand marketing automation and brand asset management, today announced dramatic growth of its customer base as businesses race to adopt affordable Software-as-a-Service platforms to cut costs and drive efficiencies in the face of global economic uncertainties. MuseWorx experienced a 226 percent increase in customers during September and a 311 percent increase in October. As a leader in the worldwide software-as-a-service (SaaS) market, MuseWorx is providing businesses with a critically needed, affordable alternative to costly IT solutions as the global recession impacts business spending and growth.

Key to MuseWorx's recent growth, especially in light of the recession, is the absolute requirement for businesses to be able to do more with less. By simplifying and unifying work processes on a common platform, MuseWorx facilitates easier access and more efficient use of mission-critical technologies by business, helping drive critical results with fewer resources.

SaaS platforms like MuseWorx are enjoying a surge in interest among companies looking for ways to cut costs and work more effectively. An October Gartner report expects companies to spend more than $6.4 billion on SaaS platforms, a 27 percent increase over last year. Driving the increased interest are concerns over the economy and fears the US is headed toward a prolonged downturn. In addition, SaaS appears to have come of age as early concerns over security and consistency of service have proven unfounded. The market is expected to more than double, according to Gartner, with SaaS revenue reaching $14.8 billion by 2012.

In response to current growth, MuseWorx is announcing Stephen Barrett as CFO to help manage growth as the company expands to meet the needs of our customers.

Barrett will oversee financial planning, management and forecasting for MuseWorx as well as develop and optimize new revenue opportunities for the company. Barrett brings more than 30 years of industry and financial management experience, having served in executive roles at a number of large companies, including Home Savings of America, Great Western Bank, and Evergreen Airlines. Barrett was also co-founder of The Energy Source, which in the 1980s was the leading solar water heating company in the Northwest.

"We are exactly what businesses need and want at this moment. Because of the global financial situation, businesses are scrambling for results and are intent on ways to cut costs and improve revenue," said Barrett. "As an enterprise-level SaaS marketing system, MuseWorx reduces IT costs and is highly scalable to meet user needs, faster and more flexible to deploy than non-cloud computing offerings, and easier to adopt organizationally because of its simplicity. Our solution significantly decreases resource demands, enabling our customers to achieve better results within the marketing value chain."

"I'm very excited about MuseWorx, our positioning, and the opportunity ahead," said Barrett. "As a SaaS and cloud computing solution for businesses, MuseWorx is not only timely from an economic standpoint, but it's also uniquely suited to respond to the rapidly changing business environment, giving our customers new, better, and more affordable choices."

About MuseWorx -- Unified, Simplified Marketing

MuseWorx™ is a global leader and innovator in on-demand marketing automation, creative process improvement and brand asset management. Its breakthrough Marketing Operating System™ uses the limitless potential of "cloud computing" to transform disparate and disconnected go-to-market functions, processes and resources into a cohesive, collaborative force for impacting business value and outcomes.

The powerful plug-in platform from MuseWorx enables any marketing application, content element, digital asset or media file to be universally available, readily exchanged and centrally managed and secured on a global scale. Embraced by more users than any other marketing automation system in the world, MuseWorx is delivering its on-demand marketing automation services in an accessible and cost effective way for all levels of business.