Financial sector makes a million for Version 1

10 May 2006

The business and IT consultancy Version 1 Software has announced that it has won €1m worth of contracts in the financial services sector and plans to double headcount at the company to 200 over the next three years.

Three deals were struck with Bank of Ireland, IIB and Bank of Scotland (Ireland) and they form part of a growing financial services practice for the Dublin software company.

Version 1 has been trading for 10 years and recently moved offices to accommodate growth in the company, which currently employs more than 100 people and is forecast to break through the €10m revenue barrier this year.

Justin Keatinge, managing director of Version 1 Software, confirmed that the company intends to embark on a recruitment drive and is hoping to grow its sales. “We plan to double our staff numbers and turnover in the next three years,” he said, adding that the growth would be from within the company. “We are pushing hard at sales and are now in the position where companies are approaching us with business,” he added.

According to Keatinge, financial services now accounts for up to 15pc of Version 1’s turnover. “We have put a lot of emphasis on this sector in recent times and we are seeing a lot of growth,” he commented. Over the years Version 1 has established a strong foothold in the public sector and some 45pc of the firm’s business comes via state contracts. Government customers include the Department of Communications, Marine and Natural Resources, the Department of Enterprise, Trade and Employment as well as the Social Service Inspectorate and the National Car Testing Service. “If we can achieve in financial services what we have achieved in the public sector we will be doing extremely well,” added Keatinge.

By Gordon Smith