NEW YORK (TheStreet) -- Shares of decision-making software provider Qlik Technologies (QLIK) have more than doubled since the company's IPO in July. Nevertheless, the key to Qlik's quick success is more about simplicity than speed, CEO Lars Bjork says.
Bjork spoke with
about why keeping things simple has enabled his company to attract so many customers in such a short time, as well as his growth expectations for his newly public company.
How does your technology enable your clients to make better decisions?
What we have done is focus on the individual, the end user. It's a simple tool to use, but still very powerful. You have lots of legacy systems with information and you want to pull that together to get a holistic view of the operation of your business. That's what we do, and we make it very, very simple. The reason for that is that we have learned is that if it is not simple, it simply won't be used.
Can you give me an example of how a hospital or financial services company would use the QlikTech technology?
Take a financial services company in trading or asset management. Instead of relying on many sources of data that you have to pull together, you have an instant view where you can make a better decision. If you are in a hospital, you are looking at many, many different legacy systems to pull together information around a patient. Now you have one view and you can easily access it. It is fresh data, and you can have it wherever you want. If you stand next to the patient with an iPad, you have the information.
How many customers do you have, and who are some of your larger ones?
We have approximately 15,000 customers across 105 countries. We have financial institutions in New York like
. We have manufacturers out west and public service organizations in Europe. It ranges across all types of verticals. The need for this type of software is independent of size or vertical.
How big is this market? What are your forecasts for 2011?
The size of this market predicted by
is $9 billion a year. It is one of the few software markets that continues to grow every year. But what we have shown is with ease of use you can still reach more users. So is that market bigger than $9 billion? Yes. And our prediction for next year is that we will do something between $255 million to $260 million in sales.
Do you have any new products in the pipeline?
Our base technology is going to be the same. I think mobile applications and uses for our technology are going to be the big things going into 2011 and 2012. We continue to develop the core technology. But the market is so big we see less of a need to develop new products right now, as opposed to new applications and new areas of use for our current technology.
Reported by Gregg Greenberg in New York
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