Brady’s growth leads to strategy upgrade
Brady plc, supplier of trading and risk management software for metals and commodities, said that in light of its rapid growth, it is changing its development, release and implementation strategy for 2009.
CEO Gavin Lavelle said: "The last 18 months have seen some of the most significant growth in the company's history and this has required everyone in the business to re-evaluate the core structures and to look at how best to deliver a highly scalable business model in terms of development, support and client interaction.
"The new software development and management processes enable Brady to enhance customer satisfaction and allow greater scalability for the planned future growth."
The company said the main benefits for customers will be easier implementations and upgrades and an overall reduction in the cost of ownership. This will be achieved through a scalable approach to development with additional prioritisation criteria focused on the changing requirements of the metals markets.
In the past 18 months Brady has secured nine new clients, accelerated product development and added headcount and offices. The extra customers have led to a greater demand for special projects, in turn necessitating a global perspective in the prioritisation of product development, release management and support.
All future releases of Brady Trinity will now be restricted to an annual version release with subsequent service packs to be released on alternate months, with a maximum of six a year.
Brady said it clients include many of the world's largest miners, refiners and producers as well as tier one banks and a large number London Metal Exchange category 1 and 2 clearing members.
At 52.50p, Brady's shares are trading at a 52-week high. The company is valued at around £14.5m.
