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Hitec Report Increased Revenues for 2011 and Reveal New Products

Hitec Laboratories, the leading developer of Enterprise Document, Content, and Risk & Compliance Management solutions today announced increased revenue for the year ended June 30th 2011.

“Revenues rose by almost 9% during the year, commented Hitec CEO Jeremy Crame. “Whilst the economic climate was tight, we continued to focus on our core markets, and overall we performed very well, a trend that has continued into the new financial year”.

In addition to the financial results, Hitec have also recently released two major new products; DataStoreDSX for Enterprise Content Management and PolicyHub for Policy & Procedure Management.

DataStoreDSX is Hitec’s 4th generation Enterprise Content Management (ECM) platform. Designed to assist enterprises to control the ever increasing quantity, and variety of business information, regardless of source –from scanned documents, web forms, print streams, MS Office output, or emails. ECM is seen as one of the fastest growing necessities for IT. DataStoreDSX incorporates a host of new and enhanced functionality, including full text search, data mining of reports and information lifecycle management. The full API coverage provides the capability to integrate with 3rd party repositories such as SharePoint.

Hitec’s Policy & Procedure Management solution PolicyHub was developed as a result of merging key features of PolicyMatter, which was acquired by Hitec in 2009, with their market leading CONFORM product. PolicyHub manages and automates the process of getting the right policies and procedures to the right people, that they become accountable by signing up to them and that the entire process is recorded and auditable, thereby ensuring Good Governance and Compliance.

“PolicyHub is attracting huge interest, as all organisations no matter what industry or size, need to be certain that their policies and operating procedures have been received, read, understood and signed-up to by all employees” said Crame. “New legislation such as the UK Bribery Act makes it imperative that organisations can demonstrate good governance and compliance to protect them against fines, reputational damage and even potential imprisonment”.

“Hitec grows year-on-year and this year has been no different. A compelling technology portfolio, strong implementation, growing partner channel, and progressive product roadmap ensure a continued healthy customer demand for the company's products and services and keep Hitec resilient in the current economic climate. Hitec is in a strong position, and we are all looking forward to an exciting journey over the next year or two”.