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VSoft Corporation Ends 2007 With 35 Percent Organic Revenue Growth

Posted on: Wednesday, 6 February 2008, 09:01 CST

VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced a successful 2007 including a 35 percent increase in revenue and recognition from several respected industry organizations.

"VSoft's larger customer base and increased sales with existing customers in 2007 positions us for more growth as we move into 2008," said Murthy Veeragahanta, president, VSoft Corporation. "Our market has seen tremendous change through consolidation, new competition and fast paced adoption of image technology. VSoft has remained successful by staying focused on our core objective of providing innovative solutions and being nimble in the marketplace."

Rated by Celent as "the overall performance leader in advanced technology and breadth of features," VSoft received recognition in 2007 by several organizations. The company was included in Deloitte & Touche's Technology Fast 50, the 2007 Inc. 5,000 and was selected by Bank Technology News as one of The Innovators 2007, an annual ranking of the 25 most advanced people, companies and technologies in the financial industry.

Furthermore, VSoft serves more than 45 percent of corporate credit unions in the United States and more than 1,700 financial institutions worldwide. In January 2008, the company announced the acquisition of Branch 21, a provider of managed services to mid-range and community banks. This facilitates the addition of Application Service Provider (ASP) services to the VSoft solution portfolio. The revenue increase cited in this release does not include incremental revenues from Branch 21.

"VSoft's growth strategy for 2008 and beyond will include a mix of organic and acquisition driven growth," said Vijay Balakrishnan, chief operating officer, VSoft Corporation. "We are investing diligently in people, processes and products to ensure alignment and scalability as we serve more customers."

About VSoft Corporation

Established in 1996, VSoft Corporation is a global provider of financial technology solutions that improve service, reduce cost and maximize efficiency. Included in Deloitte & Touche's Technology Fast 50 and the 2007 Inc. 5,000, VSoft's solutions are used by more than 1,700 financial institutions worldwide. Its broad image-based solutions include distributed deposit and payment capture across all points of presentment, back office check processing, image exchange, document management, remittance and lockbox operations. VSoft was rated by Celent as "the overall performance leader in advanced technology and breadth of features," and was selected by Bank Technology News as one of The Innovators 2007, an annual ranking of the 25 most advanced people, companies and technologies in the financial industry. Customers include banks, credit unions, savings institutions, transaction processors, governments, utilities, telecommunications and retail organizations. VSoft's proven products and services ensure versatile and rapid delivery of solutions to mission-critical needs. For more information call (770) 225-7692 or visit vsoftcorp.com.

Source: Business Wire

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