Scottish Tech Consultancy, Cooper Software, Reports 22% Increase in Year End Revenue
Wednesday, 4 May 2016
Fife-based specialist technology consultancy, Cooper Software, has reported a 22% increase in revenue for year ending 31 March 2016, rising to c£4m. The increase has been driven by key business wins in the second half of the year which has seen the company undertake projects for clients across multiple sectors including; manufacturing and engineering, high tech, oil and gas and CPG, both in the UK and in Europe.
Since its formation in 2005, Cooper Software has recorded double digit growth year on year, to become one of Europe’s largest independent providers of products, consulting and support for Enterprise software and Business Intelligence solutions. The company counts Butcher’s Pet Care, BAE Systems, Harland & Wolff, BMW, Farrow & Ball, Whitworths, GEA Pharma, Wärtsilä and Olympus amongst its clients. Cooper Software has delivered over 700 enterprise and BI solutions for over 200 clients all over the world.
The growth in revenue for 2016 has been driven across all business lines, through the successful development of strategic partnerships with a number of Enterprise Resource Planning (ERP) and Business Intelligence (BI) Solution providers. In addition, the business has continued to develop their own bespoke complementary products and solutions, helping clients to bridge functionality gaps and gain more from their ERP and BI investment.
Managing Director Frank Cooper noted, “Delivering ERP and BI solutions continue to be a profitable source of income for us with large scale implementation projects contributing significantly to our revenues in the second half of the year. This comes as a direct result of our strategy last year to widen our software partner portfolio and strengthen our platform expertise. Our success in winning and successfully implementing NetSuite projects in particular has resulted in the company being awarded a NetSuite 2-Star partner status, which is an excellent achievement in only the first year of our partnership.”
Mr Cooper continued, "Furthermore, we have refined our offering over the last twelve months to meet the needs of specific sector requirements and their particular market issues. We are currently reinforcing our position as one of the largest ERP and BI providers in the UK across multiple sectors and once we become involved in a specific sector, we quickly become the largest solution provider in the field we operate. We manage our whole team across all platforms and sectors and this ensures we can upsell our products and services to all our clients, whether they are a large blue-chip company or an SME. This in turn, has helped increase our project win rate. ”
Looking ahead, Mr Cooper expects revenues to continue to grow over the coming year. The company will work to nurture and develop their existing partnerships with IFS, Qlik and NetSuite to increase sales channels which will lead to further growth in the team of consultants and technical specialists throughout the UK, while keeping an eye out for further new and exciting complimentary partnerships and opportunities. They are also strengthening their 24/7 remote service desk that supports UK, European and global clients, some as far afield as Sri Lanka.
"Facilitating strong revenue growth is a part of our strategy and future success. We are continuing to invest in R&D to develop our product portfolio to take advantage of emerging technologies such as cloud, mobile and big data. Furthermore, we are working with our existing product partners to extend our sales lines. For instance, we are currently developing a number of new applications for NetSuite which will widen our service offering and give us an edge over our competitors. We also continue to work closely with all our clients resulting in strong recurring revenues generated from licensing, products and 24/7 service support desk.”
The company will continue to invest in staff at its head office and will look to grow its headcount over the coming 12 months. Mr Cooper commented, “Our staff are at the heart of everything we do and as such, we put real emphasis on company-wide inclusion. All staff are encouraged to engage in continued personal development and we promote peer to peer learning. In addition, we take our local community responsibilities seriously, sponsoring a number of local groups which our staff participate in out of hours.”
To coincide with the end of financial year results, Cooper Software was also recently announced as winners of ‘Best Performing Company’ category at the Fife Business Awards. The company was presented with the award after demonstrating how it has successfully developed in terms of turnover, employment, innovative marketing and communications.