ODESIA 2011 Corporate Update: Repositioning ODESIA to Accelerate Growth and Improve Profitability in 2012
21 December 2011 - 11:00PM
Marketwired Canada
ODESIA Group Inc. ("ODESIA" or "the Company") (TSX VENTURE:ODS), an
international corporation specialized in delivering business-intelligence
solutions ("BI"), decision-process management and business analytics, announces
its 2011 Corporate Update.
The year 2011 has been one of repositioning and putting in place the elements
required to accelerate growth and improve profitability in 2012.
2011 Highlights:
-- During the year, the Company assembled an experienced-team oriented
toward Business Development and Strategic Partnerships:
-- Mr. Claude Poitras as Director of the Business Intelligence
practice;
-- Mr. Eduard Modol as Director of Professional Services;
-- Mr. Richard Brossoit as Vice-President growth strategy.
-- At mid-year, the Company ended its unprofitable operations in Mexico.
This decision allowed ODESIA to focus on its key markets and improve its
margins despite a 20% decrease in sales for the first three quarters of
2011 compared to 2010.
-- During the year, in addition to relying on more than 70% of recurring
revenue, the Company won new clients including VAT, AVEOS, SNCF,
Lafarge, Bouygues Telecom, Osisko and Neocles.
-- In December, the Company welcomed Mr. Andre P. Brosseau as board member.
Mr. Brosseau will bring his expertise in finance and mergers &
acquisitions. The goal was to further expand the experience of the board
for the upcoming growth phase.
-- The Paris office has continued to improve its gross profit and acquired
ASA technology's mandates, which will lead to increased revenues.
The strategy for 2012 is centered on accelerated growth and improved profitability.
-- The BI market is fragmented and many consolidation opportunities are
possible. The Company now has an experienced and dynamic team to address
consolidation of the market by making strategic, profitable
acquisitions.
-- Odesia will continue to act as an innovator and a visionary in the
market by introducing new solutions.
-- Odesia will focus on attaining long-term Service Agreements that add
even greater value to customers.
About ODESIA Group Inc.
ODESIA is an international corporation specialized in business-intelligence (BI)
solutions, decision-process management and business analytics for large and
medium-sized companies. The Company provides customers with a complete solution,
regardless of technical challenges involved. For more information visit us at
www.odesia.com
Disclaimer in regards to forward-looking statements
This press release contains forward-looking statements which reflect ODESIA's
current expectations regarding future events and may involve risks or
uncertainties. Actual results could differ materially from those projected
herein.
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