The Invoke group’s general assembly took place on May 16, 2017 in Mont-Saint-Aignan. On December 31, 2016, balance sheet quality for Invoke France, Invoke Luxembourg, and Invoke UK demonstrated the group’s vitality, which was further confirmed by the financial situation of these entities at the end of March 2017.
For the ninth year in a row, Invoke has shown profitable two-figure growth, with an average of more than 20% for annual revenue increase over the past five years. The French software firm develops a software suite for tax, regulatory, and financial information management. In 2016, the company’s revenue reached 14.2 million euros, with EBITDA representing 19%.
“The use of a SaaS-based system has made marked changes to our economic model. We are particularly proud that that has tripled in three years, enabling us to increase earnings from recurring income to 57%,” explained Rémi Lacour, CEO of Invoke.
Innovation as a Growth Driver
Invoke opened offices in Stockholm and Lisbon in 2016. In terms of development, the group is continuing to focus on organic growth abroad, with still more branch openings planned in the coming months.
In 2016, through a strategy centered on innovation and business expertise, Invoke significantly increased market share in the field of regulatory reporting for the banking and insurance sectors. This has secured the group’s position as a trusted partner for both regulated entities and regulator clients in 32 countries.
Within Europe, the company equips nearly 10% of regulated entities in the banking sector and more than 20% of regulated entities in the insurance sector with its cutting-edge software suite, in addition to national and supranational supervisory authorities such as the French Prudential Supervision and Resolution Authority (ACPR), European Banking Authority (EBA), Deutsche Bundesbank, and Bank of Israel.
In France, their tax-reporting, legal secretariat, fixed asset management, consolidation, and global reporting solutions have been implemented by major companies from all sectors.
“Innovation is our driving force. That’s why we’ve invested heavily in research and development since the very beginning. Our R&D efforts have picked up once again this year and new, innovative solutions will be taking shape in 2017 and 2018,” announced Lacour.
Vitality and Recognized Offer Quality
Invoke has set itself apart with a course of growth recognized by BPI France. The French financial newspaper Les Echos gave the group the “Champions de la Croissance” (Growth Champion) award in 2017. The quality of the company’s software offering has merited a number of other distinctions, including the Best Data Solution award, granted by the prestigious magazine Insurance ERM for its flagship app Invoke FAS*.
“The Best Data Solution award confirms that we have been using the right strategy for the past 15 years, namely the choice to place data at the core of our solutions. Our reporting and analysis software applications are data-driven by design, which allows our clients to take a leap forward in the industrialization of their reporting processes, the ultimate goal being to achieve an end-to-end, fully unified reporting system and to secure a perfect control over data quality,” said Antoine Bourdais, Head of the Banking and Insurance Division at Invoke.
Betting on the Future
Projections for 2017 remain ambitious, the aim being to sustain two-figure growth. To do so, the company is continuing to invest in both R&D and other key activities. CEO Rémi Lacour concluded:
“The quality of our software and support services is directly dependent on the excellence of our teams. We have twice the personnel today than we did not even five years ago, and will actively pursue a hiring campaign this year, in order to attract new talent and nourish the outstanding expertise to which we owe our client satisfaction.”
* Invoke FAS Regulatory was also awarded “Best Regulatory Reporting Software” at the Insurance Risk Awards 2014.