Crannog Software, a developer of network management software, is on target to record revenues in the region of €5m and the company said it is hopeful of increasing this further into its next financial year.
The Dublin company, which was founded in 1998, said the growth would come from the indigenous market as well as from exports. It is self funded and has been profitable for the past three years.
Over the same time Crannog Software has grown revenue by 100pc year on year and the company expects growth of between 60 and 100pc over each of the next two years. “We have money in the bank, we’re growing revenue and profits year on year and the market is naturally growing,” said Crannog’s business development director Neil Wisdom.
According to research from IDC, the European market for management software tools was valued at US$3.25bn in 2003 and Ireland’s share was estimated to be worth an US$18.6m for the same period. Network management software is a niche within this total market but it is a growing one. “Network management software is a bit like the IP telephony market was six or seven years ago. People who know about it are buying it but the mass market hasn’t grasped it yet. This year will see the big breakthrough,” Wisdom told siliconrepublic.com.
The trend towards converged networks means that voice and data traffic is now carried across a single infrastructure. Therefore the need to have accurate management information is more acute, Wisdom said.
Crannog Software has five products in its suite – these are browser-based network monitoring and analysis applications covering network management, performance management, traffic analysis, alerting and reporting. The tools take information from voice and data networking equipment and produce reports on network performance, allowing administrators or business managers to see how their network is running and where bottlenecks may be occurring, which could have an impact on how the company functions.
The company has also been expanding its staff over the past year and now employs 30 in Dublin, along with six in the US, six in the UK, Six around Europe and two in Asia. It has business alliances with some of the leading network equipment makers in the market, including Cisco.
By Gordon Smith