Head of Communications
Technology projects and financial solutions are globally in high demand for the software service provider
In the 2006/2007 business year, Innovations Softwaretechnologie GmbH achieved record sales in their 10-year company history. The company was formed on August 15, 1997 by six partners. Today, more than 100 employees provide services for international customers and have earned 9.3 million Euros for the recently completed business year. Last year's sales were surpassed by about 10%. With their Visual Rules product and their financial software solutions, the Immenstaad and Chicago-based firm has achieved a strong global presence.
Innovations is now considered a significant service supplier for modern IT systems. Their solutions are used in companies throughout the world. Technology services also have become an important mainstay. In large-scale projects, Innovations' software architects develop complete IT infrastructures for corporations. Customers are mainly banks and insurance companies, but commercial enterprises, telecommunication providers, public authorities and health insurance companies also are included in the portfolio.
In Swiss banking, Innovations has established itself as a provider for IT solutions in compliance regulations including the detection of money laundering and the identification of high-risk persons or transactions. Innovations also provides complex systems for monitoring and controlling the complete customer management process. Bank Vontobel, a long-standing Innovations customer, has continuously confirmed the high quality of services and the constant quest to improve customer satisfaction.
Topics such as IT-supported monitoring of employee stock market transactions, with the aim of detecting market manipulation including insider trading, are a new addition. In the past year, risk management based on Basel II has experienced a new upward trend. Banks such as the Rand Merchant Bank in South Africa and the Volkswagen Bank in Germany, after globally soliciting for bids, have contracted Innovations to develop IT systems for the detection of credit risks.
The core of these IT solutions is Innovation's Visual Rules product, a business rules management system using advanced visual development. Visual Rules graphically maps business rules with an elegant, easy and highly intuitively user interface. In addition, it automatically generates programs and web services. Visual Rules offers an ideal collaboration platform for the business users and IT department of corporations. The business rules market is growing internationally. Management and business consultants such as IDC, Gartner and Forrester estimate an approximately 20% annual growth to 2010.
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