Sales & Profitability Climb In TGSL's
Best Trading Year Yet 05/06
Transactor Global Solutions Limited (‘TGSL’) was formed in 2003 as a result of a financial restructure and subsequent MBO of a previous entity. Ray Vincent was appointed Managing Director, with a controlling interest in the new business. Due to his close involvement in the early design and development of the product that has become Transactor, Ray was ideally placed to oversee its completion. This was achieved in early 2005 since when the uniqueness of Transactor has resulted in rapid growth. During the trading year 2005/2006, TGSL reached profit, achieving £300K (EBIT) or £500K (EBITDA) on a turnover of £2.6M. Over the coming two years, income is forecast to rise to £4M, delivering an EBIT of £700K, and EBITDA £900K.
Products & Market
Transactor is a software solution for the global insurance market, designed to service both Internet and Call Centre delivery mediums. It is built using Microsoft .Net, which renders it unique within the insurance vertical.
Already, Transactor has attracted brands such as KwikFit, and on behalf of its clients also works with Confused and MoneySupermarket. Besides these well known household names, Transactor has attracted a further 20 clients in the UK , all significant within the UK insurance marketplace. Recently, TGSL has won orders in Australia where the launch client has just gone live, in the USA , and Ireland . There is currently a huge amount of interest in Transactor, because the market recognises the application as being the market leader, both technically and functionally, and because there is an enormous appetite for system change in the post-FSA marketplace, where legacy solution providers have been sheltered by the inertia that compliance created in UK insurance businesses between 2004-5.