We proudly announce that Allevo has been named as “One to Watch” in Europe in a list of business excellence published by the European Business Awards and sponsored by RSM.
The category we were selected for is “Award for Innovation“, which will go to the organization that can best demonstrate a recognition of the importance of innovation and a proven ability to create, nurture and develop product, service or business model innovations that substantially improve its commercial performance, operational effectiveness or prospects by bringing benefit to the organization, its customers and other stakeholders.
In our case, the innovation we’re most proud of is the open source licensing model, which clearly differentiates us from the competition. Since our core financial services software, FinTP, addresses a very traditional and heavily regulated environment (banks, public administrations, financial institutions), the open source model we adopted in 2014 was a true act of courage.
In fact, in 2011 when we started the transition from the traditional licensing model to the GPL v3 open source license, customers did not fully understand the benefits of deploying an open source environment. Fortunately, this mentality has since changed, proving we were right in taking this approach when we did and consolidating our status as pioneers in the field of driving open source adoption in banking.
As a bonus, in 2017 we rolled out a new business strategy and also managed to access European funds aimed to develop an extension to FinTP for SMEs and corporations (FinOps Suite by its stage name), a benchmarking tool, and an automated testing tool.
As part of our strategy, we want to expand the customer base and sustain new product development. We are looking into new customer segments to diversify our solution portfolio, slowly moving to a flat organizational structure, comprised only of delivery, sales and support. This strategy correlated with the open source business model make Allevo stand out in the pool of software vendors out there.
Wish us luck for the next stage of the competition! We’ll keep you up to date 🙂