18 December 2017
visit http://response.ncr.com

Bank BPM sales boost Staffware

08 July 2003  |  3471 views  |  0 trading_screen_6

Business process management outfit Staffware is celebrating record first half revenues, marked by a slew of new orders from European banks, including ABN Amro in the Netherlands and a multi-million pound enterprise-wide agreement from a major UK institution.

Staffware is reporting first half earnings before tax and deductions of approximately £2 million, up 76% on Ebitda of £1.1 million posted in H1 2002.

Sales revenues for Q2 have increased by 18% year-on-year to approximately £12 million (Q2 2002: £10.1 million) and 32% sequentially. First half sales of £21 million are 15% up on 2002 and are a record for the company.

Licence sales for Q2 increased by 21% to approximately £7 million, representing 59% of total sales revenues, and for H1 by 17% to approximately £11.6 million. BPM software sales in Q2 increased by 122% to £6 million, or 50% of total sales revenues. The company says it's iProceee Engine software has garnered £21 million in sales since launch in Q4 2001.

John O'Connell, chairman and CEO of Staffware, comments: "Despite the generally cautious environment for most IT investments, we are confident that Staffware can continue to build on this success."

Staffware says ten notable contracts of over £250,000 were signed in Q2, including the largest single contract in the company's history from a major UK bank, together with an important win valued at £0.7 million in the USA from ADP Financial Services. Sales also included repeat orders from existing customers broadening the scope of BPM within their organisations. For example, ABN Amro is extending its existing contract with Staffware to cover credit and loan processing

The UK firm says that in the last few weeks, it has received orders from the banking sector to the value of £6.5 million.

The company claims that its BPM software is used by five of the top seven banks as identified in research published by Mercer Management Consulting.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Temenos second quarter sales ahead of target

Temenos second quarter sales ahead of target

07 July 2003  |  3136 views  |  0 comments
$240 million European offshore outsourcing opportunity

$240 million European offshore outsourcing opportunity

20 June 2003  |  4463 views  |  0 comments
IT outsourcing and BPO fastest growing lines in financial services

IT outsourcing and BPO fastest growing lines in financial services

30 May 2003  |  8905 views  |  0 comments
ICICI Bank implements Staffware's Process Suite

ICICI Bank implements Staffware's Process Suite

28 May 2003  |  5361 views  |  0 comments
Rise in European bank IT spending forecast

Rise in European bank IT spending forecast

22 May 2003  |  4768 views  |  0 comments
Staffware signs offshore workflow agreement with Tata Infotech

Staffware signs offshore workflow agreement with Tata Infotech

15 May 2003  |  3611 views  |  0 comments
Risk IT budgets bucking the downturn

Risk IT budgets bucking the downturn

14 May 2003  |  4211 views  |  0 comments

Related company news

 

Related company information

ABN Amro

Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.atos.netvisit www.aciworldwide.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11025 views comments | 3 tweets | 2 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
8432 views comments | 11 tweets | 12 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7516 views comments | 19 tweets | 22 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
6995 views comments | 6 tweets | 26 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6951 views 0 | 4 tweets | 2 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job