Focus Solutions Group, the technology provider, has posted a 27% profit increase for the year ended 31 March 2009.
The results are on the back of a strong year for the company which secured two new contracts with HSBC and further deals with Towergate Financial and Bank of Ireland.
Chief executive Richard Stevenson says the company is receiving positive feedback on its Focus 360 products.
"We are still seeing a similar level of demand for Focus 360 as last year. We have a number of clients who are evaluating this service now through workshops and we hope to see them convert in the first six months into new implementations of the software," he says.
"We are also seeing real interest form the product providers who are looking to sign up affinity partners and looking to go to market with a B2B2C offering.
"We have a new consumer version of the 360 platform, which has been very well received, so we see future opportunity for growth here."
Stevenson says Focus 360 has been well received by advisers and as a result they are planning to launch the service as a software offering.
"We believe it is time to put it out against the traditional players in the market; the likes of 1st The Exchange and Intelliflo. Our desire is to bring this to the marketplace in November 2009."
He also says the company will be doing more to encourage those advisers who are not confident in using technology by trying to offer products with different complexity levels going forward.
"We do accept that not all IFAs, in terms of how they operate their business, have exactly the same needs for technology development and I think that is the mistake that some vendors have made.
"We will look at introducing a simple level of functionality that will try to increase productivity and the effectiveness of the firms that we sell software to.
"We are trying to increase the profitability and revenue growth of these individuals and companies, rather than saying here is the software now off you go."IFAonline
What made financial headlines over the weekend?
Q2 net sales dropped almost 50%
‘Important to have an anchor’
Lack of innovation for solutions