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StatPro ahead in the Cloud

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Investment portfolio analytics company StatPro (LON:SOG) is making good progress towards its goal of becoming a purely Cloud-based service provider.

Company chairman Carl Bacon is set to update shareholders on trading at Wednesday’s annual general meeting, and will tell the assembled throng that performance in 2014 has been in line with expectations.

The Cloud service, StatPro Revolution, is gaining new customers and the sales pipeline continues to build. As at the end of March, StatPro had 277 clients for StatPro Revolution, up from 257 at the end of 2013.

The company has plenty of enhancements lined up that should make the suite even more attractive to customers.

Meanwhile, progress is being made on the development of StatPro R+, the Cloud-based replacement for the StatPro Seven product. Launched as a beta product in July 2013, the company expects to add further functionality later this year. It is also making “excellent progress” with existing clients who are planning to make the switch from StatPro Seven to StatPro R+.

“We believe that the service we offer, through our cloud-based solution StatPro Revolution, provides a compelling story that meets client demands for greater transparency, improved reporting to satisfy new regulations, and as a selling tool, as well as being great value for money,” Bacon will tell shareholders.

“Our continuing progress gives the board confidence in a successful outcome for the year.”

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