New York, January 20, 2009 – Reval, a global leader in financial risk management and hedge accounting solutions and services today announced strong continued growth in 2008, reporting a 50% increase in revenue and adding 75 new clients, bringing its total number of clients globally to over 215.
In what has become a very challenging economic climate globally, Reval is in a unique position to expand and continue its growth strategy by leveraging its geographical diversity and regional domain expertise. This strategy resulted in client growth across all regions in 2008, with its North America contract value growing by 130%, EMEA by 167% and Asia Pacific by 227%. Reval also broke into new territories in 2008, adding clients in France, Singapore and Korea.
In response to the continued strong demand for its solutions and services, Reval increased its workforce across North America, EMEA and Asia Pacific 80% in 2008. With additions to its client services, business development and product development teams, Reval continues to provide superior service to its diverse global client base, ensuring its market leadership in hedge accounting and risk management solutions.
Reval attributes its strong growth in 2008 to the importance and value of hedging and reporting in compliance with IAS and FAS standards to help companies avoid restatements or regulatory issues. Reval’s ability to reduce the impact to P&L associated with market volatility of foreign exchange, interest rates and commodities derivatives has proven to be key to its continued success.
"Reval’s best-of-breed solutions, expertise and global footprint have been instrumental in its success" said Jiro Okochi, CEO and co-founder of Reval. "In today’s volatile environment, companies cannot afford to take risks, and Reval’s proven track record provides the reassurance companies need when addressing challenges in hedge accounting and risk management."
Reval’s derivative solution and derivative valuation services address the complex business, valuation, and accounting requirements for derivative management for interest rates, foreign exchange and commodities for the front, middle and back office. Reval’s products and services help companies implement better approaches to effectiveness testing under stringent accounting rules such as FAS 133, IAS 39 and CICA 3865, providing better control of operational risk, and helping to avoid financial restatements and other regulatory pitfalls. The easy-to-deploy Software-as-a-Service has cutting-edge security, stringent controls and a SAS 70 Type II certification.
For more information, visit www.reval.com or email firstname.lastname@example.org.
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