Corvu Corp, the originally Australian integrated performance management provider plans to float on Nasdaq within the next 12 to 18 months. The now Minneapolis-based organization has been expanding since its inception in 1993 and although it only broke even last year, the company anticipates it will report a profit for the year to June 31. The company employs around 65 staff at offices in the US, Australia and the UK and hints that it expects revenues of around $9.5m this year. The company has just one product offering, the Integrated Business Intelligence Suite, or IBIS as it is referred to (CI No 3,176) and hopes to achieve additional growth with an add on Balanced ScoreSheet module. Currently growing at around 170% a year, CorVu vice president of marketing Alan Missroon says the company should be able to increase its growth rate by around two-and-a-half to three times in the coming year. Balanced scoresheets were invented at Harvard University in 1992, designed to enable organizations to take a closer look at all of their activities, highlight the strengths and the weaknesses and implement a leading indicator approach to run the business more efficiently. CorVu’s Balanced Scoresheet module was introduced to IBIS customers last summer, but now the company has given it a bit more functionality and is targeting Enterprise Resource Planning operations to take the software to integrate it with their offerings. In order to use the module, customers must have the IBIS foundation in order to run it. The company has approached all the big ERP players such as Baan Co NV, Oracle Corp and SAP AG. The only organization not to show an interest in CorVu’s balanced scoresheet is PeopleSoft Inc, which according to Missroon, has yet to decide whether it will develop its own offering or go to a third party operation. But CorVu will not put its hand on its heart and pledge that its customers will see any benefits from the scoresheet offering, and Missroon said success depends on the way the scoresheet is set up and subsequently implemented. The new release will start rolling out next month priced at $3,000 per user license, but bulk licenses will receive a discount, with 20 user licenses costing $25,000.
