Enterprise Ireland
Annual Report and Accounts 2006
Annual Report and Accounts 2006
Enterprise Ireland scaling client Norkom Technologies is an example of an ambitious Irish company which has sucessfully fast-tracked growth to achieve a leadership position in its market.
Having grown rapidly on entering the financial crime and compliance market in 2001, Norkom is now a global player recognised as outclassing its worldwide competitors' anti-money laundering solutions.
The Dublin company's software solutions help banks and financial institutions detect, manage and take action against financial crime such as fraud and money-laundering.
It has signed deals with a number of the world's largest banks, including HSBC and French banking giant Crédit Agricole, monitoring millions of transactions a day for suspicious activities on behalf of these and other premier clients.
The international success of the business means Norkom's software suite is currently deployed in more than 100 countries across four continents.
Norkom has been a profitable company since October 2002, achieving exports in excess of €17.9 million in FY06, and a growth rate of 49 per cent over its FY05 revenues.
Norkom Technologies rides high among the knowledge based industries currently driving Irish export success. Ambitious global growth plans led the company to float in 2006, when it executed a successful IPO, raising €21 million and listing on Dublin's IEX and London's AIM markets.
The capital is fuelling a new phase of development which includes expansion in existing markets of North America, Europe and Asia-Pacific and the option to pursue a commercial acquisitive strategy.
The award-winning financial crime and compliance solutions provider has successfully engaged in many of the activities Enterprise Ireland has identified as being crucial to scaling growth.
Director of Marketing Rosemary Turley says:
“Enterprise Ireland has been a long time supporter of Norkom, both at a tactical level in helping us achieve sales on the ground, and at a strategic level where it has ensured that the knowledge of our management team has continued to grow as we have scaled.”
Turley says Norkom's significant achievements are due to “a compelling market, effective solutions, and a steady eye on growth and investment.”
Turley adds:
“We are also very pragmatic and this means we will be replicating what works for us as we build out our markets.”
Norkom now employs 176 and has offices in the UK, Belgium, North America, Canada and Australia.
www.norkom.com (link opens in a new browser window)
