New York, March 1, 2007 – Reval, a global leader in financial risk management solutions delivered under the SaaS or Software-as-a-Service model, is pleased to announce that it achieved record growth in 2006 with a 56% increase in revenue and the addition of 52 new clients. Reval attributes its accelerating growth to strong demand for its award-winning derivative solution HedgeRx® and its launch of outsourced hedge accounting and derivative valuation services.
In addition to the benefits of eliminating spreadsheet use for derivative management, a wave of FAS 133 restatements and the need to meet similar stringent requirements under IAS 39 internationally and for CICA 3865 in Canada have boosted Reval’s sales and grown its client base to over 120 companies internationally.
"As a result of Big 4 accounting firm scrutiny, with over 250 FAS 133 related restatements and attention from the SEC, companies are scrambling to re-comply" said Jiro Okochi, CEO and Co-founder of Reval. "Fortunately we are the only game in town that can address interest rate, foreign exchange and commodities risk all on a fully integrated web platform,"
Reval also launched two outsourced services in 2006. HedgeRx ® Plus™ is the outsourced version of HedgeRx where Reval’s team provides the hedge accounting reporting for the client without the need to access the system and Reval Center™, an independent valuations service specializing in valuing complex instruments.
The company is planning to aggressively expand its international presence as well as to add new instruments and modules. A new version of HedgeRx is also being released in April of 2007.
For more information, visit www.reval.com or email email@example.com.
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