Gresham Technologies : Strong Clareti sales drive profitable growth for Gresham Tech

London, 9 January 2017 - Gresham, the leading software and services company that specialises in providing real-time transaction control and enterprise data integrity solutions, has today announced a trading update for the year ended 31 December 2016.

Revenues for the year are expected to be up 16% on the prior period to £17.2 million including £0.3 million from C24 Technologies Limited (C24) following the acquisition in October 2016.
Highlights from the trading update include:

• Clareti revenues are expected to be up 42%
• Clareti recurring revenues are expected to be up 57%
• Eleven new Clareti Transaction Control (CTC) customers across various industry segments in the US, Europe and Asia Pacific
• Several existing customers extended their use of, and investment in, the technology
• Closed the year with cash at £7.2 million and remains debt-free

Ian Manocha, CEO, Gresham says, 'Gresham made significant progress in 2016. We signed eleven new CTC customers including two cloud subscriptions, and four wins were in the increasingly important US market. New customers were signed in banking, investment management, spread betting and insurance broking where we have existing CTC customers, and we signed our first customer in the commodities industry.

During the year, we opened our flagship Innovation Labs, completed our first Clareti-led acquisition, established our Clareti Loan Control joint venture business, and developed several new partnerships to drive sales.

We continue to invest in innovation and in building routes to market to further increase our momentum in 2017. We remain focused on our goal to establish a leadership position in the provision of enterprise data integrity solutions, and we remain confident in the prospects of the Group.'

In December Gresham announced two customer wins, a leading UK insurance intermediary has selected Clareti Transaction Control (CTC) to improve financial control of payables and receivables within its broker business as part of a wider finance transformation programme. This contract represents Gresham's fourth direct customer win for CTC in the insurance sector. The customer has opted to deploy CTC on Gresham's Clareti-as-a-Service cloud platform.

Secondly a US-based global financial services institution has adopted the Clareti platform to help drive a technology enabled transformation in the processing operations of one of its key businesses. The customer will deploy Clareti Transaction Control (CTC) to replace out-dated manual processes and user developed applications, improve data quality and customer service, and reduce operational processing costs.

Gresham expects to report results for FY 2016 in the week commencing 13 March 2017.