LONDON, November 28, 2017 /PRNewswire/ --
- Access Group reports breakthrough year - primed to continue its success story within the UK's mid-market
- The strength of its position is backed by a strong set of results for the latest financial year, reporting £102m turnover, EBITDA of £25.4m, recurring revenue of 64% and organic software growth of 11%
- In the last 12 months, Access grows significantly, fueled by three strategic acquisitions including Selima, IBS and Safe Computing
- Access's portfolio is now able to serve the hospitality market and offer a greater depth of products to the recruitment industry
Access Group (Access), the mid-market business solutions provider, reports its strength with another year of substantial growth, clearly evident in the latest financial figures. These detail turnover now at £102m, up by 18% and EBITDA before capitalised development of £25.4m, an increase of 27%. Recurring revenue now represents 64% of total turnover revenue, up from 58% in the prior year and organic software growth is now at 11%. SaaS and subscription revenue growth achieving an impressive 50%.
Chris Bayne, CEO at Access comments:
"We are proud of our achievements this year and are confident that we are well on our way to meet the ambitious targets we have set ourselves. Over the last 12 months we've made substantial investments into existing and new products, bolstering our customer success teams and hiring new management to ensure our customers have access to the best software, service and support available."
With over 12,000 customers now relying on Access products, it's clear that the business is set to continue its market share growth across the industries it serves. Access is already a recognised mid-market software provider to those in Finance and Accounting, HR, Recruitment, Not-For-Profit, Health and Social Care, Supply Chain and Education. This year saw the company also break into the Hospitality sector following the acquisitions of Selima and Intelligent Business Systems (IBS). Its' hospitality customer base already includes well-known names such as EAT, Franco Manca, Gourmet Burger Kitchen, Harry Ramsden's, Hawksmoor, Itsu, Peach Pubs, POD, Pure, Revolution Bars Group, Rick Stein Group, Young's & Co and Wright & Bell.
Chris Bayne also comments that the Selima and IBS acquisitions are just the beginning of the company's ventures into hospitality, "We hope to make further announcements over the coming months about adding more product lines to our growing business management suite for pubs, bars, restaurants, hotels and leisure operators."
In addition to the hospitality market, the recruitment sector has also benefited from Access' strategic acquisitions this year. The purchase of Safe Computing, Access' largest acquisition to date has significantly expanded its offering to recruitment agencies. With Safe Tempest and Safe Screening now part of the product mix, Access can definitively help recruiters with every aspect of their recruitment process - from candidate attraction and compliance to cash collection. It now represents 40% of the UK's top 500 agencies with a customer list boasting the likes of Adecco, Randstad, Morgan Hunt, McGinley, Staffline and Impellam.
To support this stellar growth, Access continues to invest in its senior leadership team and this year was no exception with the board level hires of Chris Marjara as Chief Marketing Office and Paul Vogel as Managing Director of Safe.
Access continues to deliver on its mission to become the UK's mid-market cloud solutions provider that helps businesses improve their margins through greater cost control, improved productivity and compliance. With further plans to integrate a host of additional products to deliver more value to customers, it's clear that going into the next financial year Access will be staying true to its initial purpose.
About Access Group:
Access Group is a leading provider of fully integrated business management software. Its portfolio spans ERP, finance, HR, payroll, recruitment, education, warehousing, business intelligence, hospitality, professional service automation and manufacturing.
More than 12,000 UK businesses and not-for-profit organisations use products and services provided by Access to improve their performance, profitability and drive growth, unlocking their business potential through improved business insight.
Access Group is one of the top five fastest growing UK software developers, on-going commitment to excellence, customers and employees has also placed the company among the UK's top employers.
For more information visit: http://www.theaccessgroup.com
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SOURCE Access Group