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4 2014 ANNUAL REPORT
2500
2000
15 0 0
1000
500 0.50
1. 0 0
1.5 0
2.00
2.50
3.00
4.00
0
$ MILLIONS
2010
($2.26)
($2.50)
($2.91)
($3.60)
($3.89)
REV EPS
2011 2012 2013 2014
CAGR
13%
CAGR
7%
REVENUE* AND ADJUSTED
EARNINGS PER SHARE**
(Adjusted for Continuing Operations)
– Adjusted EPS
CAGR (Compound Annual Growth Rate)
* $ in millions, excluding Brazil and
divested operations – 10%
** Adjusted Earnings Per Share – 14%
transformation in 2014 to ensure long-term, sustainable growth in the face of a
changing market environment. With a marked increase in competitors offering
free credit scores, Personal Solutions continued to increase the lifetime value of its
consumer relationships by improving the customer experience and introducing
new, high-value products, which allowed it to minimize churn.
Through the integration of TrustedID Inc., which we acquired in 2013, we now
have a solid foothold in the indirect market where we are aggressively pursuing
new opportunities. We also have a robust pipeline that positions us for improved
performance in 2015 and beyond.
Personal Solutions also enabled double-digit growth outside the United States
by leveraging its technology platform and new product innovation (NPI) more
broadly in Canada, the U.K. and ultimately, Latin America.
Our International business unit, which contributed 26 percent of total company
revenue in 2014, has many of the same strategic growth drivers as our U.S.
operations. This business unit drove double-digit growth through NPI, accelerated
development of Data 360, analytics and fraud solutions, and strategic acquisitions,
while expanding the number of industries they serve across 16 different countries.
We now have our decisioning platform, InterConnect™, installed in seven countries
enabling us to deliver Decision360 solutions throughout all of our international
properties. This decisioning platform has become a valuable asset to our
customers and strengthens our business partnerships.
Another major focus for International was expanding our analytics and decisioning
capabilities that help our customers solve their challenges collecting on past due
accounts. By combining the assets of TDX Group, a debt management software
and capabilities company we acquired at the beginning of 2014, and combining its
assets with Inffinix, a debt collection and recovery company based in Mexico that
we also acquired last year, we set the stage to utilize these combined platforms
beyond their concentration in Western Europe and Australia to our entire global
footprint, including the U.S. This creates important, new revenue growth vectors
that we can leverage in 2015 and beyond.
Two additional growth igniters of 2014 were our Information Technology (IT) and
Global Operations organizations. These two Centers of Excellence organizations
worked strategically behind the scenes making significant contributions to our
bottom line through better and more efficient fulfillment processes and delivery
platforms, and improved service to our customers and consumers.
Internationally recognized as a leader in its field, our IT group is responsible
for both the global strategy and delivery of our leading-edge solutions. They
work hand-in-hand with our sales and marketing org anizations and customers
to address—and anticipate—our customers’ needs.
This past year, they pushed the boundaries of technology to create an IT
infrastructure with reusable assets that can be quickly and easily deployed around
the world. A special software engineering team spearheaded an effort to realize
the benefits of scale by building a series of core components and modules to
support a common operating model throughout our international geography.
Our Global Operations team, one of the largest groups in the company, provides
the infrastructure and support for virtually all of our operating activities. They focus
on processes that impact execution, strategy and growth. While the business
units focus on sales, Global Operations is accountable for fulfilling those sales,
enabling the company’s strategic revenue growth initiatives, product development