Although the business climate has been rough for a number of companies, enterprise content management solution firm Alfresco Software announced it doubled its revenue in 2008.
The company said its year-over-year revenue growth reached 103 percent for its financial year ending February 2009.
Much of the success comes from the company”s open source enterprise content management and web management solutions and the multi-year contracts it was able to sign over the last year.
John Powell, CEO of Alfresco, said that with its 2008 momentum and plans in the works, the company expects to grow through 2009 and meet the market”s demand for ECM products. He also noted that Alfresco customers see cost savings of up to 96 percent by using the open source software.
"Alfresco has been able to grow and evolve the ECM market in this economy by not only continuously investing in our products and services, but by filling a critical need for companies that are shifting away from costly proprietary systems, recognizing the value of the open source business model and looking to make multi-year commitments to Alfresco technologies," he said.
The company also noted the availability of Alfresco Enterprise 3.0, an alternative to SharePoint which allows users to use a use a mixed environment with Linux or Windows, Java or .Net, MySQL or Oracle.