Following the trend of the last seven years, FinArch exceeded all revenue and growth targets. The company noted an increase of 32% in overall revenues and more specifically a rise of 41% in license and maintenance revenues. Overall Earnings Before Interest and Tax (EBIT) quadrupled compared to the prior year. Backed by a strong cash position, FinArch has continued to invest in its solutions by enhancing functional and technological aspects of the full Financial Studio suite. FinArch has augmented the Financial Studio integrated risk and finance platform by adding additional engines such as Basel III, IFRS9, therefore positioning itself as a trusted partner for its current and future customers. The company is also addressing a wide range of country specific and global regulatory reporting requirements to complete the overall offering.
In addition to the excellent financial performance, FinArch was recognized by Chartis Research as market leader in integrated risk and finance solutions, for a consecutive year, and was awarded a prestigious prize for its export activities. FinArch was also appointed “Trends Supergazelle”, for its constant growth in turnover, employment and cash flow over at least the five preceding years.
Future Outlook
The company’s outlook for 2011 is extremely positive, driven by clients’ higher demand for the FinArch strategic and integrated risk and finance solutions. In the coming years, FinArch continues to implement its accelerated growth plan, and based upon the current pipeline, the company expects to acquire more global accounts for its solution offering.
“2010 was another year of exceptional performance. We showed continued market growth through competitively winning key strategic accounts and clearly we are delivering on our strategy. Through our highly valued Finance Resource Planning (FRP) concept, we have delivered substantial benefits to our clients, and this is reflected in our results.” Says Dirk De Beule, Chief Executive Officer at FinArch. “We continue to experience a strong global demand for our products and services. With our unique offering and our highly dedicated staff, we are well positioned to meet this demand. Our capacity and agility in providing innovation underpins our growth forecast. We remain committed to investing in and bringing state-of-the-art technologies to market in order to provide our customers with the solutions that best fit their needs. “
Dirk De Beule thanked his global team for their contribution to this landmark year: “FinArch continues to deliver outstanding results with another record breaking year. This sustained and outstanding performance is a testament to the strength and skills of our most important asset – our people.”
