Sales in Vermilion reporting software exceed £1m
Vermilion Software, the leading supplier of client reporting and communications software for the financial services industry, today announces record sales for the first financial quarter of 2016, adding over £1million of new annual recurring revenue between April and June 2016.
The company has delivered a strong performance across all regions, but the North American office, based in Boston and established in 2012, has experienced exceptional results with a 50 percent increase in new clients over the last 12 months. Globally, this brings Vermilion to over 60 customers across four continents.
The second financial quarter of the year is looking equally promising. Most recently, Vermilion has secured 2 new clients in North America, including the top two outsourcers to the financial services industry in the world; in addition, the EMEA new deal pipeline is currently at its strongest ever.
Over the last twelve months there have been some fundamental product enhancements and corporate developments for Vermilion, including:
A completely new user interface and an enhanced version of its pitch book creation service, V:Pitch, which allows users to create professional Power Point presentations with ease.
A ground-breaking partnership with Chicago-based automated commentary provider, Narrative Science. This game-changing new partnership will enable asset management firms to fully automate the writing of portfolio commentary and embed this capability directly within a client reporting suite.
The commentary generation capability powered by Quill, the Advanced NLG platform offered by Narrative Science, will be integrated within the Vermilion Reporting Suite (VRS). Quill writes portfolio commentary in seconds, automatically customized to adhere to a firm’s brand guidelines. In this way Quill serves to dramatically decrease costs stemming from a process that traditionally takes firms a few weeks to complete.
Last month Vermilion announced its victory at the Waters Rankings 2016. The honour, for ‘Best Reporting System Provider’, was received on July 14 at Manhattan’s Metropolitan Club.
Marcus Noble, CEO at Vermilion Software. “The last twelve months has been outstanding for Vermilion, and the first five months of this financial year suggest that the trajectory will continue. Securing two of the top global outsourcers to the industry and the leading Australian investment manager Challenger Limited, further substantiates our market leading position.”
Mr. Noble continued, “The team continues to successfully improve the product range and services that Vermilion provides, ensuring that the technology is cutting edge and works for the industry better than anything else available on the market.”