IT2 Treasury Solutions today announces record revenue of GBP 13.2 million for the financial year ending 31st December 2011, an increase of 23% over the previous year.
In 2011, 35 businesses and financial institutions signed contracts to secure the IT2 Treasury Management Solution, bringing the total number of clients to more than 270. New clients in 2011 include businesses and financial institutions of all sectors and sizes, whether engaged in establishing a treasury capability for the first time or seeking to secure more comprehensive or mature treasury and risk management. Overall, 22 new customers went live in 2011, attesting to the company's ability to deliver global implementation services.
"Since 2007, IT2 has sustained a compound annual growth rate (CAGR) of 23%, and earnings before income tax (EBIT) of around 15%. We are pleased with this continued track record of growth and financial strength," says Tommy Valther Hansen, Chairman of IT2 Treasury Solutions Ltd. "This is the result of a managed, sustainable strategy that is totally focused on treasury and prioritizes software innovation, treasury expertise and client service excellence. Strong profitable growth has enabled intensive reinvestment in the product," he adds.
"2011 saw IT2 invest 17% of its turnover in research and in the development of a successful, technically innovative product," said Kevin Grant, CEO, IT2 Treasury Solutions. "The solution continues to be highly attractive: in 2011 IT2 secured new sales leads and completed implementations across North America, Asia Pacific, Northern and Central Europe, the Middle East and Africa. Looking to the future, we are encouraged by a strong pipeline of enquiries and demand for IT2's technology across current geographical markets and in emerging economies."
2011 highlights include the launch of IT2 versions 7.1: Enabling Best Practice Treasury Control, an accompanying feature pack and the development of 7.2: Treasury Transparency & Performance, the launch of which was announced in January 2012. These versions answer strong, specific market demand for better control, treasury risk management, reporting and connectivity.
Treasury functionality delivered by IT2 in 2011 include that for managing value at risk (VaR) by region, for importing and managing FX dealing and positions in real time and for tighter control of treasury accounting. First and second generation eBAM solutions, more advanced business intelligence capabilities, collateral management and multi-language support have also been launched within the solution. In addition, IT2's web based front end, IT2 NET has been made more scalable, with more flexible reporting.
Concludes Grant: "A key contributor to IT2's technical development is the dynamism of the IT2 professional user community, which is now more than 10,000 people strong. Of these, many participate in formal IT2 user group events, conference calls and round tables, informing the product's development by sharing experiences and promoting innovation. The IT2 online community, IT2 Connect, already numbers more than 350 active members."