International expansion reinforces steady development of credit risk software company
Tinubu Square, the trusted source of credit risk solutions for trade credit insurers and businesses, experienced a 12% increase in turnover in 2013, continues to improve its net earnings and expects to grow exponentially during 2014 following expansion overseas and consolidation in both the UK and France.
The news comes as Paris-based Tinubu announces that it will be opening a new office in the USA in the first quarter of the year to serve the expanding North American market. This underlines the importance of overseas sales to the company which last year accounted for over two thirds of its total turnover.
The company will shortly be announcing the appointment of a new IT Director, a crucial role which will help Tinubu Square to accelerate its plans for new products and enable new features to be added to its core solution, the Tinubu RMC (Risk Management Center) cloud-based platform. In addition, five further new appointments are expected to be announced through 2014, all of which will reinforce the research and development team at Tinubu.
Michael Feldwick, Head of UK and Ireland at Tinubu Square, said: “Whilst there have been some market improvements over the last year, our growth is really testament to the success of our business model, the strength of the product, the building of solid relationships with both brokers and customers and maximizing overseas opportunities. In the UK, we expect to experience further growth of around 15% in 2014, and possibly more if the economy continues to rally, but we are delighted that we are on such a positive trajectory.”
Tinubu Square opened two offices in Asia in 2011 and 2012, in Singapore and Mumbai, and also has a UK office, based in London. With several contracts already signed in the USA, the opening of a new office located on the ground will enable the company to address a mature market in search of innovative approaches to trade credit risk management.
In 2013 Tinubu Square has become the official ‘Supporter of the ICM Credit Managers’ Index’. This is calculated quarterly by the Institute of Credit Managers using input from credit professionals and provides a detailed insight into the thoughts, attitudes and levels of confidence of UK credit managers. The link with ICM will provide the Tinubu Square brand with significant exposure to the Institute’s membership.