PeopleSoft Inc has again staked its claim to be counted as one of America’s fastest growing companies with revenues up 80% and staff numbers jumping by nearly a thousand in just six months. The Pleasanton, California-based resource planning software company, which started life only ten years ago, has reported second quarter net profits up 94.0% […]
PeopleSoft Inc has again staked its claim to be counted as one of America’s fastest growing companies with revenues up 80% and staff numbers jumping by nearly a thousand in just six months. The Pleasanton, California-based resource planning software company, which started life only ten years ago, has reported second quarter net profits up 94.0% at $22.3m on revenue up 79.5% at $184.4m and the company is forecasting growth of 75% for the full year. PeopleSoft grew at a phenomenal compound rate of 95% through the early 90’s, selling its highly successful client/server based payroll and human resources scheduling software. Since then, the product range has been expanded to include accounting, distribution, supply chain and manufacturing software packages. PeopleSoft is now competing head on with SAP AG, Baan Co NV and Oracle Corp in the client/server applications software market, targeting the Fortune 1,000 companies. It attributes its growing market share to the speed at which it can implement global software installations within large companies and to its obsession with client satisfaction. Although it has a strong US bias, PeopleSoft does around 15% of its business internationally, and by Spring next year it wants to have a full range of internationally compliant products to help it catch the European market which is expanding to follow the US lead. PeopleSoft is aiming at the number two slot in Europe behind chief rival SAP AG. The company’s surprise purchase of $10m a year Red Pepper Software for a $225m in April, rumored at the time to have been targeted by none other than SAP AG, briefly sent the stock into a tailspin but since then it has commenced an irresistible climb, matched only by seemingly endless growth in revenues.
