Monday, January 02, 2006

Portellus: Leveraging eastern Europe in '06

Outsourcing has been a big story over the past few years, as lenders prepare for lower volumes and look to cut back on human resource overhead. Technology companies have been outsourcing for some time now.

We most often hear of tech firms leveraging programming resources in India, but there are a number of other places in the world where good technologists can be found. Northern Ireland has been making a push into the financial services world over the past couple of years.

Portellus, a mortgage technology firm based in Irvine, Ca., plans to leverage resources in eastern Europe this year. The company says it got some traction last year.

Portellus bolstered its existing staff by hiring software developers, business analysts, implementation managers, quality assurance specialists, support staff and sales executives. The company brought on board 31 new hires, bringing the firm’s total headcount to 96 full-time employees. Earlier this year, Portellus moved its U.S. operations to a state-of-the art facility in Irvine, Calif. to accommodate its anticipated growth.

The company also expanded its eastern European office by moving to a larger facility to prepare for next year’s projected growth, and to continue to recruit top-notch European software developers.

“Portellus’ growth is the direct result of the marketplace being ripe and ready to take advantage of the company’s highly flexible and scalable service-oriented Enterprise Solutions Framework (ESF), Enterprise Rules Management (ERM) solution and Loan Origination System (LOS),” said John Le, CEO of Portellus. “These next-generation solutions have attracted the attention of forward-thinking companies, who are proactively preparing to compete in what is becoming a hyper-competitive business landscape.”
The company says it won't be telling the industry exactly who it is working for until later in the first quarter, but sources inside the company are optimistic that this will shape up to be a good year.