BI Vendor QlikTech Celebrates Success
February 24, 2009 Alex Woodie
Times are tough for companies across the world. But one business that’s having the time of its life is business intelligence software vendor QlikTech. The Swedish-born American company and its products were recently given the top ranking by Aberdeen, which went like champagne with its caviar announcement that business in the United States increased by about 50 percent in 2008.
When Aberdeen recently published its findings about how the major business intelligence and performance management vendors stacked up across various customer-driven metrics, there was one company all alone at the top of the heap: QlikTech.
QlikTech was the only “champion” in Aberdeen’s “Axis” for BI and performance management, beating out much bigger vendors and better known names, including Business Objects (now owned by SAP), Cognos (now owned by IBM), Hyperion (now owned by Oracle), Microstrategy, and Microsoft. It was the second good showing in influential analyst ratings for QlikTech’s QlikView, which was also recognized as “the most performant BI platform” in a recent Gartner Magic Quadrant.
“We know that QlikView has generated a passionate user base, and Aberdeen’s customer-centric perspective vividly demonstrates how quickly customers gain value from QlikView and how end users love using it,” says Anthony Deighton, senior vice president of products for QlikTech.
A couple of weeks after the Aberdeen Axis news broke, QlikTech announced financial results for 2008. The company says revenue increased by 50 percent to $120 million and that it grew its customer base by 45 percent to 10,585. (As a privately held company, these numbers must be taken with a grain of salt, as they do not carry the full weight of an audited financial statement from a publicly traded company.)
That gave David another chance to take a swipe at Goliath. “While the BI incumbents operate with implementations that take months and time-to-value measured in years,” the company said in a press release, “QlikTech customers have QlikView up and running in weeks and realize their ROI [return on investment] in less than a month. It’s the reason QlikTech is the only vendor that can offer a 30-day money-back guarantee.”