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Tuesday, February 21, 2006
(eGistics, Inc.)
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DALLAS, Feb. 21 /PRNewswire/ - Strengthening its category leadership in the financial services marketplace, eGistics, Inc. today announced outstanding revenue, customer and volume growth in 2005 for its on-demand image and data archive, management and delivery services.
eGistics' monthly recurring revenues increased 71 percent during 2005, and its customer base grew by 75 percent. With continuing growth in revenues from those 2005 contracts, coupled with deals in hand and in its pipeline, eGistics expects to exceed last year's revenue growth rate in 2006.
Underscoring its growth, eGistics' short and long term archives grew at an annual rate exceeding 100 percent last year and eGistics expects these archives to increase by more than 5 billion items in 2006. Notably, eGistics' peak archive load volume topped 1 million images per hour. Positioning itself to support this growth, eGistics has increased its staff 25 percent, expanded its facilities, and invested significantly in communications switching and computing infrastructure.
"eGistics continues to extend its leadership in the financial services market by delivering on-demand solutions that drive image-enabled business process improvements and customer value," said eGistics Chairman and CEO Robert E. Lund. "As we move forward, our deep domain expertise and the flexibility, scalability, reliability and security of our on-demand platform will continue to provide real value to our customers and set us apart in the market."
Currently, eGistics serves three of the top five U.S. financial institutions, five of the top 10 U.S. cash management banks, the world's largest asset management company, a leading global payments services company, and the two largest third-party U.S. lockbox providers.
As proof of the superior value and customer experience provided by eGistics' on-demand services, a substantial number of existing customers continue to significantly increase the volume of images and data they load into the company's Infinite Digital Architecture (IDA). Additionally, eGistics recently won a five-year contract extension from one of its clients.
"Many of the most prominent financial services companies in the world trust eGistics' tailored, on-demand services with the images and data from their mission-critical payments applications. Nowhere is this more true than with customers in banking and remittance processing," said eGistics Executive Vice President Gary Provo. "eGistics' services are delivering significant value to the payments infrastructure of the world's preeminent financial services companies, doing the heavy lifting for tens of millions of imaged transactions."
In the financial services markets, banks and businesses clearly see the benefits of on-demand image and data archival, management and delivery. Leading companies in these markets are deploying eGistics services to address a broader, more complex mix of payment mechanisms requiring expanded image and data management and the scaling of back-office operations. These companies are using eGistics to rapidly resolve payment exceptions and accommodate new regulatory requirements.