PROACTIS Announces Record Annual Revenues
PROACTIS Holdings PLC delivers an exceptional performance in year ending 31 July 2009 despite tough economic conditions
PROACTIS Holdings PLC is pleased to report that the Group has achieved record revenues of £7.0m for the year ending 31 July 2009, up 7% from 2008, as well as an excellent result on cash. The Group has also seen substantial growth in its US subsidiary, with new licence revenue sold overseas accounting for 18.4% of total new licence revenue.
During the year Gartner, the leading IT analyst, produced an independent report on the eProcurement industry, examining the critical capabilities of the leading 14 products worldwide. PROACTIS scored excellently, achieving the highest overall rating, the "best-in-class" status in the eProcurement category and securing a top-5 ranking in all usage scenarios outlined in the report. This, when combined with PROACTIS' success in delivering solutions to some major international companies over the course of the year, validates the belief that PROACTIS is well positioned to become a market leader.
These results reflect a tremendous effort, particularly when considered within the exceptionally challenging general trading environment. Rod Jones, CEO commented:
"PROACTIS delivered an exceptional performance despite the global financial crisis that existed for most of the year. The restructuring programme we undertook last year combined with our growing reputation in the marketplace stands us in good stead for the future. With a spend control product validated as "best-in-class", good visibility on forward revenues and a continued concentration on cost control, the Group is well positioned for 2010."
PROACTIS' strategy and focus remains the same and the Group continues to execute plans to grow the business. Key achievements during this financial year include:
- Increased customer base - 44 new client wins and 52 upgrade deals from existing clients.
- Developing the Accredited Channel Partner route to market - The partner programme has been streamlined, only selecting the most committed and well resourced partners. This move will enable PROACTIS to work seamlessly with its partners to offer an even better service to clients.
- Software products - The latest version of software continues to improve PROACTIS' end-to-end solution for eProcurement and Spend Control. The solution is available in many languages as a collection of innovative "plug and play" modules that can be deployed in a variety of ways.
- Projects - Embarking on some impressive software deployment projects with large multi-nationals including Europcar (Worldwide roll-out); Bauer (European roll-out); CB Richard Ellis (eInvoicing initiatives); APCOA (European roll-out) and Oldcastle Materials Group, Inc. (pan-US roll-out).
