Results highlights
You highlighted in December that interim results could be impacted by the slippages you've seen in the TCM order book. What's going on there?
Well you're absolutely right. We did have some slippage of some very key deals in our Treasury and Capital Markets business. Most of it was due to the timing; in some cases the sale cycle was a little longer than what we had anticipated. But the good news is we have closed most all of that business in the month of December and in January. So we really have closed those deals and have pretty much caught up to where we wanted to be in Treasury and Capital Markets.
And now that you have reshaped Misys into this pure play financial services business, does that mean we can expect to see volatility in the earnings going forward?
Well we're a smaller company than we were when Allscripts was part of it so by definition each sale is a little bigger percentage of the total. And the timing, particularly around quarters or halves, is a little difficult to predict. So I don't think just because we have modelled ourselves much more around a pure play financial services that there won't be some lumpiness.
On the other hand, we have to do a better job of expanding the size of our pipeline so that we always have enough opportunities to work on to get us where we need to get to on a quarter basis and on a half-year basis.
Business profile
You mentioned Allscripts there and you have divested the majority stake in that company. You've also done the acquisition of Sophis, so is the business in the right shape now?
Well the business is really, I think, very much dedicated now to financial services. When you step back we've really fundamentally changed the markets that we're in. We used to be in…
