IT2 Treasury Solutions Unveils 2011 Results
IT2 Treasury Solutions has announced record revenues of £13.2m for the financial year ending 31 December 2011, an increase of 23% over the previous year.
According to the vendor growth was driven forward by 35 businesses and financial institutions signing contracts to secure the IT2 treasury management system (TMS) solution, bringing the total number of clients to more than 270.
New clients in 2011 included 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.
“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,” said Tommy Valther Hansen, chairman of IT2 Treasury Solutions. “This is the result of a managed, sustainable strategy that is totally focused on treasury and prioritises software innovation, treasury expertise and client service excellence.
“Strong profitable growth has enabled intensive reinvestment in the product,” he added, perhaps aware that private equity owned firms are often accused of failing down in this regard.
According to chief executive officer (CEO), Kevin Grant, 2011 saw IT2 invest 17% of its turnover in research and in the development of a successful, technically innovative product. “The [TMS] 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, Middle East and Africa,” he added. “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.”