BALA CYNWYD, PA, April 17, 2009
/24-7PressRelease/ -- FXpress Corporation, the leading treasury risk management and accounting software provider, today announced record sales for the fiscal year ending March 31, 2009. The company reported a 34% percent increase in revenue over the previous fiscal year. This marks the third consecutive year of record growth, representing a new record in sales bookings.
This record growth is attributed to the continued market leadership of the company's web-based treasury management system, FIRST . Among the areas of the system that saw significant enhancements were the Interest Rate Module, commodity exposure management, and the workflow for requesting and managing hedges. Other popular new features include the management of internal debt programs, the ability to initiate payments in bank specific SWIFT messages and expanded support for FAS 157 and FAS 161.
"In the current economic climate, it is a means of survival for corporations to effectively manage their risk" says Bob Richardson, President & CEO. "Our continuous record growth demonstrates corporate confidence in FIRST to manage foreign exchange, commodity and interest rate exposures."
In the last year, FXpress significantly expanded its client base within the United States as corporations recognized their exposure to the extremely volatile markets. These companies, including American Medical Systems, William Wrigley Jr. Company, William Scotsman Inc., and McCormick & Company, Inc, chose the FIRST Treasury Risk Management & Accounting Software as the top treasury management system in the market.
About FXpress Corporation
Premier corporations choose FXpress as their technology partner to simplify and automate core treasury processes. FIRST treasury software, the company's product offering, enables the management of cash, exposures, derivatives and hedge accounting for FASB and IAS compliance via Software-as-a-Service deployment. Founded in 1993, FXpress Corporation is headquartered in Bala Cynwyd, PA. For more information about FXpress products and services visit http://www.fxpress.com
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