eg solutions banks on product upgrade for growth

FINANCIAL software firm eg solutions is banking on a new version of one of its major products to help it continue its improving performance.

The Staffordshire firm has launched an uprated version of its proprietary software, eg work manager®, which is designed to aid financial institutions improve their back office operations.

The formal launch of the new package took place in London at a product showcase for the whole of the firm’s eg operational intelligence® software suite.  

The event included an overview of the ‘Emerging Back Office Market’ from Donna Fluss, founder and president of DMG Consulting, an analyst who specialises in customer-focused business strategies, operations and technology services for Global 2000 and emerging companies.  

She has predicted the Back Office Optimisation market is likely to be between three to seven times larger than the Contact Centre Workforce Optimisation market.

Commenting on eg’s position in the emerging Back Office Optimisation market, eg chief executive Elizabeth Gooch, said: “Our software has been purpose built as a back office solution.

“It is clear that the back office market is emerging strongly and, with customers wanting a single supplier for this type of solution, eg is well positioned to capitalise on this major opportunity.”

The new product release will support customers implementing eg’s software for the first time as well as those currently using existing versions of the software suite.

eg has also announced the appointment of Phil Lee to its board as a non-executive director.

Mr Lee, 55, has been a board director of Co-Operative Financial Services. He had responsibility for integration and change, following the merger with of the Co-op with Britannia Building Society in August 2009.  He originally joined Britannia Building Society as group finance director in 2002. In 2008 he was appointed managing director Britannia Capital Investment Group.

He has also served as finance director of the West Bromwich Building Society; head of finance at Bristol & West, formerly Bristol & West Building Society; and head of finance at Somerfield.
 
Rodney Baker-Bates, non-executive chairman, said: “We are delighted that Phil has joined the board.  He knows eg well having been a customer with three companies.  His knowledge and experience of the financial services industry, including successful integration of acquisitions and implementation of major IT projects, will be invaluable to us.”

A resolution confirming the appointment will be put to shareholders at the company’s AGM on June 8.

Andrew McRae, non-executive director will not seek re-election at the AGM due to his increasing international commitments.

For latest eg solutions share price click here