February 11, 2011
Reval says demand for risk management, STP, drives new businessh
TORONTO--Reval, the premier provider of Software-as-a-Service (SaaS)
solutions for corporate financial risk management, has added 70 new clients
in 2010, generating 63 percent more new contract value than in 2009. As a
result, revenue grew over 43 percent. Demand for more risk management tools
and straight-through processing drove new business.
In a year marked by volatile currency markets and rising commodity prices,
Reval expanded key risk functionality and enhanced foreign exchange workflow
to achieve true straight-through processing on its single-version SaaS
platform. The company developed new exposure management tools, a cash flow
at risk (CFaR) module, and integrated foreign exchange trade execution
capabilities, making the end-to-end business process for corporate financial
risk management both deep and seamless.
"We saw companies continue to invest in improving their business processes
around treasury and risk management," says Reval CEO and Co-founder Jiro
Okochi. "The trend for Software-as-a-Service continued to pick up and is
now more of a must-have requirement on RFP's."
Reval also acquired Austrian-based ecofinance, a provider of treasury
management solutions for Germany-the fourth largest economy in the world-and
surrounding central European countries. Reval's plans for 2011 include
integrating ecofinance's proven technology with its own SaaS, to deliver an
all-in-one SaaS solution for corporate treasury.
By the end of 2010, Reval supported 520 clients globally with 280 employees.
The company also made Deloitte's 2010 Technology Fast 500T for its revenue
growth of 348 percent over a five year period.
Reval provides an award-winning Web-based platform that automates corporate
financial risk management for a wide range of interest rate, foreign
exchange, commodity and credit derivatives. The world's leading corporations
and financial institutions use this SOX-compliant Software-as-a-Service to
support and execute hedging strategies from exposure capture through
performance measurement and to comply with international and domestic
accounting standards, including ASC 815 (FAS 133), ASC 820 (FAS 157), IAS 39
and IFRS 7. RevalR deploys rapidly and integrates easily with treasury
management and ERP systems. The company's SaaS platform and team of
financial experts are also available on an outsourced basis through Reval
CenterT. Reval was founded in 1999 and is headquartered in New York, with
regional centers based in Philadelphia, Chicago, San Francisco, Toronto,
London, Frankfurt, Graz, Sydney, Hong Kong, and Gurgaon.