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COLORADO SPRINGS, Colo., Aug. 21, 2018 (GLOBE NEWSWIRE) -- Cherwell Software, LLC, (“Cherwell”) a global leader in service management, has been named a Challenger in the 2018 Gartner Magic Quadrant for IT Service Management Tools.
This is the fourth-consecutive year that Cherwell Software has improved its positioning in the report.
Cherwell believes this recognition comes as it continues to capture market share in the core IT Service Management category. With a growing roster of global customers and an industry-leading 96-percent renewal rate, Cherwell secured nearly a quarter-billion dollars in recent investments including $172 million from KKR in April 2018.
“To us, placement in the Gartner Magic Quadrant for IT Service Management Tools reflects our commitment to delivering solutions that enable businesses to run more efficiently and seamlessly as they pursue digital transformation,” said Sam Gilliland, Chief Executive Officer, Cherwell. “I believe that Gartner’s assessment of Cherwell’s strengths aligns with the value we add to our customers and the returns they achieve on their investment.”
Cherwell has grown faster than the average market rate, adding customers in the public sector, healthcare and manufacturing industries. Additionally, Cherwell added more than 75 third-party integrations through its Technical Alliance Partnership program and continues to integrate additional extensions and feature sets through the mApp Exchange.
Cherwell’s core ITSM offering, Cherwell Service Management, is a powerful and flexible, codeless platform that enables IT teams to implement, automate, and modernize service and support processes to meet new and evolving needs — at a fraction of the cost and complexity associated with legacy ITSM tools.
In addition to the business functionality benefits, Cherwell customers report saving between 20 and 60 percent over their previous legacy ITSM tools. Cherwell enables its customers the flexibility to choose from subscription or perpetual pricing, on-premise or SaaS, Cherwell-hosted or public cloud infrastructure—and the ability to switch anytime. In addition, concurrent licensing enables companies to potentially reduce licensing costs by 50 to 70 percent.
Cherwell’s ITSM solution has a wide array of features that today’s businesses count on to facilitate the modern work force and digital transformation. For more information on Cherwell Service Management, visit: https://www.cherwell.com/products/it-service-management.
A complimentary copy of the full Gartner 2018 Magic Quadrant for IT Service Management Tools can be downloaded here: https://pages.cherwell.com/ar.gartner-magic-quadrant.html.
A Gartner Magic Quadrant is a culmination of research in a specific market, giving you a wide-angle view of the relative positions of the market's competitors. By applying a graphical treatment and a uniform set of evaluation criteria, a Magic Quadrant helps you quickly ascertain how well technology providers are executing their stated visions and how well they are performing against Gartner's market view. (Gartner Research Methodologies, http://www.gartner.com/technology/research/methodologies/research_mq.jsp).
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Cherwell Software
Cherwell (@Cherwell) empowers organizations to transform their business through the rapid adoption and easy management of digital services. Cherwell’s adaptable platform has enabled thousands of organizations to modernize their business operations with customizable service management, automation, and reporting across the enterprise. For more information, visit: http://www.cherwell.com.