Netik LLC, the global leader in delivering information-centric Data Management and Reporting solutions to the Securities Industry via its Data Warehouse and Investment Hub product, Netik Interview, today announced record sales growth of more than 80% over the last 12 months.
Netik has also announced two internal promotions, Bill Rockett, Chief Operating Officer and Laura Adams, Chief of Staff to ensure Netik's proven methodologies remain in tact as the management challenge of rapid growth in new customer implementations continues into 2005/2006.
2004/05 was a milestone year for Netik with stellar revenue growth recorded by the company with 10 new customer wins. Moreover, existing and new customers helped drive some significant product enhancements during the year with releases of Netik InterView that included Fund of Hedge Funds, Performance Explorer and Netik Enterprise Reporting. Netik's customer wins are in the areas of Global Asset Management, Prime Brokerage, Fund Administration and Operations Outsourcing. In addition, Netik's strategic alliance with Advent Software has also proven to be a significant driver behind this growth where a third of the new business wins were in the areas of Prime Brokerage and Fund Administration and were associated with Netik's ability to deliver robust real-time integration with Advent's market leading Geneva accounting engine. The combination of Netik InterView and Geneva brings to market highly efficient workflow-governed Data Management, real-time accounting and flexible premium reporting.
Apart from solving the perennial problem of periodic high-quality Client Reporting, Netik InterView provides ready access to a powerful combination of Portfolio Accounting data, Performance Attribution and Return data, as well as third-party benchmarks, economic data and risk analytics, in a manner that delivers strategic intelligence to an investment firm's executive team. Netik InterView greatly improves such users’ ability to understand what drives their business by allowing them to interactively analyze and explore information to discern trends and patterns, thereby deriving insights and allowing conclusions to be drawn.
John Wise, CEO of Netik commented: "The last year has been a tremendously exhilarating ride for Netik and I am very pleased with our progress in all of the sectors into which we sell in the Investment Industry."
Wise goes on to say: "We will be maintaining this momentum as we head into 2005/06. We have a very strong order book and pipeline and I am looking for further quantum growth in the next twelve months. However, it is vital that we achieve this in a controlled manner and my number-one priority is to ensure our continued reputation for successful implementations on-time and on-budget leading to the decision to promote from with-in the company to ensure Netik’s proven methodologies and quality control are lead by senior professionals familiar with Netik’s style of conducting business."
By strengthening the senior executive management team the focus will be on operational control as the key success factor going forward. Bill Rockett, who was hitherto the CFO, has been appointed Chief Operating Officer and Laura Adams, VP Business Development and who was a founder of Netik, has been appointed Chief of Staff.
Bill Rockett, as COO, will specifically focus on the delivery and implementation function globally, ensuring excellence in co-ordination of resources to maintain capacity and to continue to maximize client satisfaction with on-time/on-budget projects. Prior to joining Netik four years ago, Bill Rockett worked at Misys Banking Division for 10 years during which he undertook several roles in both the New York and London including CFO for both of the US and European regions.
Laura Adams, as Chief of Staff, will co-ordinate global functions and resources. Prior to Laura Adams' 13 years at Netik where she gained experience in several areas of management, including Product Development Director, she was employed by TCA Syntec as Head of Product (Open Hub), and LBMS Consulting and Shell International.
John Wise states, "By Leveraging Rockett's solid background in process and financial control and focusing this on operations, plus Adam's long experience gained from both development and client-facing roles, we will be able to support continue high growth in a controlled and consistent manner. Both Bill and Laura in their new roles will ensure that processes and standards are maintained and enforced as well as making sure staff, customers and partners benefit from a consistent approach to our product implementation, procedures and compliance."