August 19, 2008 03:00 ET

Strong Growth for QUMAS in 2008

JERSEY CITY, NJ--(Marketwire - August 19, 2008) - QUMAS, a leading provider of regulatory compliance solutions to highly regulated companies, including Life Sciences and Financial Services organizations, today announced continued strong growth through 2008. Running strongly against macro economic trends, QUMAS has achieved software and services revenues 44% above predicted targets for the second quarter of the year. This comes after the company beat software and services sales targets by 25% in quarter one of 2008. These half-yearly numbers include two seven-figure deals, further confirming the strength of the QUMAS Compliance Solution offerings.

"As we continue to grow the company, we're seeing increasingly strong activity across the Compliance arena. While the global financial situation becomes more challenging, organizations need to ensure that they are operating efficiently, controlling their business processes, resolving issues in real time, and reporting to senior management on the proficiencies of their business units," said Kevin O'Leary, CEO of QUMAS. "This drive for efficiency and oversight in regulated industry continues to power QUMAS successfully through these challenging times."

O'Leary goes on to explain that both the average deal value and the quality of the deals have increased, pushing the company ahead of targets for the year. Recent additions to the QUMAS client community include Lantheus Medical Imaging, Ferndale Laboratories Inc., and Avigen in the U.S. and PharmaZell in Europe.

"The criticality of the QUMAS Compliance Solution is proven by the caliber of our client base," said Caoimhe Kiely, Global Head of Marketing at QUMAS. "They trust our solution to provide compliance tracking and information that is board-relevant, as well as to provide guaranteed, traceable compliance with global regulations."

QUMAS has also achieved the ISO 9001:2000 quality award for the 10th year in a row, further reinforcing its commitment to delivering excellence and its dedication to innovation and continuous improvement across the company, from client relations to software engineering.


QUMAS is the leader in Enterprise Regulatory Compliance Solutions with more than 250 global customer deployments and over a decade of experience helping companies in highly regulated industries.

The QUMAS solution facilitates an informed response to Compliance challenges across the organization, and provides better overall governance and predictability of business performance as well as meaningful reporting to stakeholders.

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Contact Information

    Caoimhe Kiely
    Global Head of Marketing
    +353 21 4915100
    Email Contact