The year 2008 was expected to greatly advance Qatar’s status as one of the key strategic IT markets in the Gulf region. With high oil prices supporting general economic growth, provided a fast developing construction and real estate industries, both of which are providing strong support for IT spending, and the IT services market is expected to be the fastest growing segment of the Qatar IT market in 2009-2012. Fiscal 2008 was a year of significant achievement and transformation for Ideal Solutions (ISC). During 2008, we celebrated the 10th anniversary of our founding, reached new records for revenue and operating income, and laid the foundation for future growth through key changes in our organizational structure. Fueled by strong demand for new and existing products, our revenue in 2008 grew by 19.2% percent compared with 2007. The past year saw the successful launch of major products in Electronic Fund Transfer (EFT), Geographic Information Systems (GIS), High Resolution Satellite Imagery, Automated Vehicle Location (AVL), Terminal Operating System TOS, Warehouse Management System and Real Estate Registration Information Systems (REGIS).
 
We intend to improve in those areas by providing more functionality via more electronic channels. We shall continue to invest in the development of new technologies and products that will help ensure that we are leaders in those key services and technologies. During 2008, we maintained our focus on research and development, investing 14% more than previous year 2007. Past investment paid off in the form of new products and services that are helping us redefine the next generation of information technology. Through our commitment to research and development, and our passion for pursuing innovations that enable our customers to achieve business success and realize their potential, we are in a great position to strengthen growth that will expand our opportunities in business solutions. At our core, we are a software company. But our defining mission is to help people and businesses realize their full potential. We believe that the right software helps companies become people-ready businesses where employees are empowered and inspired to use technology to solve problems, collaborate with colleagues, serve customers, and seize new opportunities. Product releases in the coming year will strengthen our ability to deliver on our people-ready vision. GIS based solutions & services, electronic services via multiple channels, communication and data security solutions, technical outsourcing services, document management and case management; all will provide in 2009 powerful new capabilities that enable people to create new levels of business value, fueling further growth for ISC. Because software services offer strong opportunities for growth, we will continue to refine and improve our ISC online services. We will roll out new service-based solutions which we announced in July 2008. We will also continue to build out our services infrastructure, providing new tools to help businesses create and host services. The cornerstone of our success has always been our ability to attract and retain the most talented employees from around the world. In May, we announced important changes to help us ensure that ISC continues to be one of the world’s best places to work. These changes will enable us to better reward and retain top talent, while providing a workplace that is positive, inclusive, and collaborative. As thrilling as the last 9 years have been, we think the next 4 years promise to be the most exciting in the history of ISC and our industry as a whole. We believe strongly that everything this company has delivered to date is really just the foundation for the truly profound changes we will see during the next 4 years. Because software is more central every day to the way we work, communicate, and learn, we believe no company is better positioned than ISC to thrive in the coming decade. We are deeply inspired by the incredible opportunities that lie ahead for our company. It is your support that enables us to continue to pursue these opportunities.

Thank you.


Mahmoud Amer
General Manager