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Plex Systems: Record 2009 Growth

Matthew Weinberger

February 2, 2010

1 Min Read
Plex Systems: Record 2009 Growth

Here’s a little something for you cloud naysayers: Plex Systems, proprietors of the Plex Online software as a service (SaaS) ERP solution, issued their 2009 recap statement — and the highlights look pretty darn strong. Here’s the scoop.

The Michigan-based Plex Systems has been selling CRM and ERP software solutions, among others, to industrial manufacturers since 1995. The company says they increased recurring revenue by 31% from 2008, and that total revenue grew 14 percent. As a private company, Plex doesn’t disclose dollar amounts, but those numbers are still nothing to sneeze at.

What does it all mean? That depends on your perspective. A pessimist could argue that even with that kind of growth, SaaS just isn’t occupying that much of the IT channel. Over at MSPmentor, our annual MSPmentor 100 survey revealed that cloud services just aren’t as big on managed service providers’ radar as traditional on-premises solutions.

Of course, the optimist can say that what it really shows is an increasing trickle of VARs and corporations that are realizing that the cloud has the potential to save a bundle on costs from installation to maintenance to electric bills. Indeed, Plex says 29 new customers signed on for their service.

“These new customers, along with expanded business from existing customers, led to our impressive revenue increases. The SaaS technology and business model that Plex Systems has pioneered is exceptionally well-suited for today’s economic challenges,” said Plex Systems President and CEO Mark Symonds in a prepared statement.

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