Denver, CO, January 15, 2019—Itransition, a global software services vendor, is once again included in the Software 500 ranking of the world’s leading software companies.
The Software 500 is the oldest ranking in the industry—2018 marks its 36th release. Developed by Software Magazine, it is designed for medium and large enterprises, their IT professionals, software developers, and managers involved in software and services purchasing. The ranking includes the world’s largest software suppliers, both public and private. The majority of the 2018 Software 500 companies are public (469 companies or 94% of participants).
The ranking compares the software-related revenue, overall corporate revenue, headcount, and research and development expenditures. The 2018 Software 500 is based on revenue reports from the 2017 fiscal year compared to those from 2016 submitted by each company and includes period ending dates between March 31, 2017 and February 28, 2018. The 2018 report shows that total software and services revenue reached $867.8 billion compared to $813.6 billion in 2017, with a compound annual growth rate (CAGR) of 3.49%. The Top 3 categories of the 2018 Software 500 are Security Tools/Systems (45 companies in it), IT Consulting/Staffing (30 companies), and Healthcare and E-Business Applications, Services, and Tools (23 companies).
In 2018, Itransition, one of the 31 private companies included in the Software 500, held the 356th place, which is 14 positions higher than in 2017. Since 2007, the initial year of our participation in the Software 500, Itransition has moved from the 472nd to the 356th place, winning 116 positions in total. Last year, Itransition demonstrated the following results: revenue growth as compared to 2017 reaching 20.78%, which is almost 6 times higher than the industry average, with the R&D investment totaling 5.13% of corporate revenue.
Focusing on IT Consulting services with an emphasis on security and quality of processes and deliverables, Itransition serves companies in various industries, including those in Healthcare and E-Business. All these factors enabled us to get to the respective categories of the 2018 Software 500 ranking.
Itransition has been delivering software solutions for E-Business since the company ’s inception in 1998, serving both retailers and wholesalers. According to Statista, a provider of consumer and market data, revenue in the global eCommerce market reached $1,785,733 million and is expected to show a CAGR of 8.9% in 2018-2023, resulting in $2,734,414 million by 2023. Itransition’s current offering for E-Business includes bespoke software development, platform-based implementation with platforms ranging from SAP to Magento, and integration with third-party systems in the effort to create an omnichannel user experience.
For more than a decade, we have been working with Healthcare organizations ranging from care providers to medical tech companies and device manufacturers. Allied Market Research, a market research and advisory company, states that the global Healthcare IT market is expected to reach $297 billion by 2022 with a CAGR of 13.2%. Itransition delivers custom Healthcare solutions that enable digital patient experience, clinical and health management, and practice management and operations, along with Mobile Healthcare apps and Healthcare analytics.
This year we celebrated Itransition's 20th anniversary, and the message we have been sharing from our inсeption is pretty much the same, while the world continues to be disrupted forcing changes across all industries we serve. Inflexible, outdated IT solutions cannot compete against natively digital platforms, there is a need for completely new enterprise architectures, simple, configurable, and customer-centric. As a multi-year Software 500 company, we are happy to offer the right capabilities to our customers to help them win in this digital race.
Software Magazine is an established brand name in the high-tech industry. Its web version, Softwaremag.com, serves as an online guide to enterprise software. The Software 500 ranking of the world’s largest software and services companies is annually published on Softwaremag.com. Software Magazine and Softwaremag.com are owned and operated by Rockport Custom Publishing. Rockport Custom Publishing is a leading integrated media company covering technology issues.
Founded in 1998, Itransition is a rapidly growing global provider of digital transformation and software product development services. Headquartered in the USA, the company delivers high-quality software services to customers from startups to large corporations all over the world. Itransition has a strong development center in Eastern Europe with 1700 specialists on board and a network of delivery centers in Europe and the USA. The company offers a combination of technology skills, domain knowledge, efficient methodology, and passion for IT. Independent research agencies, such as Deloitte, Forrester, and Zinnov, continuously recognize Itransition as a global leader in outsourced software development and related fields.