November 11, 2010 08:00 ET
QUMAS Reports Strong Profit
Sustained Growth by QUMAS in the Global Compliance Solutions Market
CORK, IRELAND--(Marketwire - November 11, 2010) - QUMAS, a market leader in the global compliance software market, has filed an operating profit margin of 12.23% for 2009 with the regulatory authorities in Ireland.
The Cork-based software company has reported a compound average growth rate of almost 50% in software licence sales since 2007. This sustained growth clearly demonstrates the success of QUMAS' global alliance strategy which saw the company develop a series of strategic partnerships including Thomson Reuters and LexisNexis. Continued growth is forecast for QUMAS in 2010.
QUMAS recently announced a partnership with Microsoft, and launched the Enterprise Compliance Management solution, QUMAS ComplianceSP, for Microsoft SharePoint 2010. With over 85 million SharePoint users globally, this partnership promises to bring further clients to the QUMAS User Community.
"It's been an exciting year for QUMAS. Demand for our solution has continued to grow steadily with a number of new client wins driving software revenues. New product innovations, such as the launch of MyQUMAS, the QUMAS Enterprise Compliance Platform, as well as the strategic partnerships with global providers such as Microsoft, Thomson Reuters and LexisNexis have taken us into new markets including Financial Services, Automotive and Insurance. We are very well positioned for further growth ahead," said Kevin O'Leary, Chief Executive, QUMAS.
Recent client wins include Takeda Corporation, Mannkind Corporation, Siena Biotech and EirGen Pharma as well as one of the world's top five Automotive firms. Due to the level of growth, QUMAS has been steadily extending its team both in Europe and the U.S. in recent months.
QUMAS is the leader in Enterprise Compliance Solutions with more than 250 global customer deployments and over a decade of experience helping companies in highly regulated industries.
Founded in Cork in 1994, QUMAS currently employs over 75 staff in offices in Europe and USA, and provides solutions for the world's leading pharmaceutical and financial organisations.
Acknowledged by Forrester as the market leader in the Enterprise Governance, Risk and Compliance Management software, QUMAS has been recognised by Ernst & Young in the Entrepreneur of the Year Programme, the Deloitte Best Managed Companies, Irish Exporters Association and the Irish Software Association.