Significant contract win for Staffs financial software specialist

STAFFORDSHIRE-based back office software specialist eg solutions has won a £600,000, “significant” contract with an unnamed banking client.

The Dunston firm has endured a difficult year following its tie-in with US reseller Aspect Software, including a succession of management changes and other upheavals.

It is hoping a shake-up of its executive team – which includes the recent appointment of a new chairman – will lead to a change of fortunes after it saw full year pre-tax losses widen to £1.48m.

The new licence contract announced today is in conjunction with Aspect and is with an existing global bank customer for the further deployment of the eg operational intelligence software suite . 
 
The initial contract for licences is worth approximately $1.1m (£660,000) to eg, all of which is to be recognised in the current financial year. The company  expects to enter into additional agreements with this customer for other services.
 
Elizabeth Gooch, acting chief executive of eg solutions, said: “We are particularly pleased to have won this contract with this prestigious and highly-respected customer which has recognised the value of eg’s market leading software to its business.

“Furthermore, working together to secure this assignment has again demonstrated the value and strength of our relationship with Aspect. 
 
“This contract underpins our forecasts for the year, as well as our confidence in the future and the potential for the company to secure substantial workforce optimisation projects with large global institutions.”