Focus Solutions Group (LON:FSG) , the AIM listed supplier of multi-channel distribution software to the global financial services industry, has signed two new contracts together worth over £500,000. The customers include a leading provider of accident and health insurance and one of the UK’s largest providers of free debt solutions. In each case the contract involves a four year enterprise licence for focus:progress, the employee development module within focus:360° - Focus Solutions’ multi-channel distribution product.

The deals will see focus:progress rolled out to over 3,500 users in total across the two organisations, which will enable them to manage the ongoing training and development of their employees as well as demonstrate that the individuals are competent for the roles that they undertake. The latest awards follow two other deals in September including a contract extension with HSBC worth £1.0m and a new deal with a major global retail bank client.

Commenting on the contract wins, Richard Stevenson, the chief executive of Focus Solutions, said: “Following our acquisition of The Coaching Platform in December 2008, these are the largest contract wins to date for our employee development product, focus:progress. The focus:progress product offering generates greater client reach, increasing the group's product and customer diversity. focus:progress is a key component in the focus:360° product suite. It can be taken as a standalone product for non-enterprise financial services clients or as a fully integrated module within focus:360°, acting as an entry point to further up-sell the rest of the platform solution.”

Focus paid an initial £100,000 for The Coaching Platform, plus an earn out of £300,000. In return it got strong training and competency capabilities, including classroom training, online training and online assessment. The move also meant that training provided by the group would enable distributors to align their skills and qualifications to the regulatory requirements of The Financial Services Authority's Retail Distribution Review (RDR), which aims to deliver improved outcomes for retail consumers. In the year to March 31, Focus posted revenues up 3% to £9.85m and pre-tax profits up 15% to £2.04m.

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