The tech company has been undergoing a thorough review of the business since February that Iress chair Roger Sharp said has made promising progress.
To support Iress’ goals, a number of areas are being addressed to “deliver value and sharpen growth on core growth opportunities”, including the fast tracking of its software to its cloud platform, the delivery of a “seamless” Xplan-OneVue integration and a cloud platform and super-as-a-service to increase speed and scale of delivery.
“I am impressed by the quality of our business, the strength of our client relationships and the significant scale of our growth opportunities,” Mr Sharp said.
“Iress has a refreshed board and new members of the management team to lead sales and product teams with a focus on enhancing product design and sales effectiveness.
“We are executing well, with major projects going live in Australia and the UK. We are also committed to managing our capital efficiently and returning surplus capital to shareholders.
“The review has made good progress, reinforcing the quality of Iress’ recurring revenue, the strength of its targeted growth strategies and its significant addressable markets and revenue pathways.
“The review has also identified a number of measures to accelerate financial performance and deliver improved returns to shareholders.”
The Iress board has also reaffirmed its 2021 segment profit guidance of 7-10 per cent growth on last year.
The news follows the appointment of Amir Ansari as Iress’ new head of product design.
