StatPro's financial year 2008 and outlook for 2009
StatPro is pleased to report a successful close to the
business year 2008, which continued to build on the growth achieved
in 2007.
Contract renewal rates remained above 94% which is a direct
result of the continuous customer service and support we offer to
our clients.
We are well positioned within the asset management sector; our
rental business model provides for a significant level of
resilience in difficult markets. Entering 2009, StatPro has over
70% of contractual commitments that extend beyond 2009 and a solid
pipeline of new business.
The global financial business environment is likely to see
complex, large scale IT projects give way to simpler SaaS solutions
and StatPro aims to take full advantage of this move. Therefore,
our development focus in 2009 will continue to be on helping our
clients reduce their total cost of ownership of our services by
providing an advanced version of our SaaS platform and Index Data
Service, as well as the further simplification of our product
suite. We now have 28 customers using the SaaS service and ten
using the new Index Data Service.
For the current year we expect the business to grow further.
Fund managers, pension funds, private banks and custodian banks,
which represent 99% of our customer base, require and will continue
to require performance measurement, investment control and risk
analysis tools, irrespective of any impact they might be seeing
relating to a changing economic environment.
In addition, the advancement of our SaaS platform has been well
received by our customers, reducing their overall cost of ownership
of our software which in turn will give us access to a completely
new client market.
We therefore look forward to a successful 2009.
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