Phocas Software Chairman's Statement - FY 2014/2015
- Strong Group revenue growth of 16.4% on previous year
- Key strategic partnerships announced with NetSuite and MAM
- Impressive performance in the key business intelligence (BI) analyst reports
- Release of Phocas BI as a true software as a service (SaaS) cloud based platform
Phocas continued the record of strong organic growth for another financial year with an increase of 16.4% year-on-year. The growth was evenly spread across our three key operating companies in the United Kingdom, United States and Australia. There was a particularly strong performance in subscription revenue due to a significant increase in new customers combined with an industry high 97% customer retention rate.
Industry Analyst Reports
Phocas performed exceptionally well in a number of analyst reports. In G2Crowd's grid, Phocas was named a High Performer with a customer rating of 4.8 out of 5 stars. In BARC 2014, Phocas was ranked as top performer against its competitors in 13 categories. In the Gartner Magic Quadrant, Phocas again performed very well with Gartner recognizing the strength of the product in what are considered as two of the most important measures of success for a BI product.
“Customers rate Phocas highly for ease of use and achievement of business benefits”
The 2014/2015 financial year saw the signing of two key strategic partnerships for Phocas:
NetSuite is the world’s largest provider of cloud based enterprise resource planning (ERP) software with more than 30,000 customers worldwide.
In May 2015, NetSuite announced the appointment of Phocas as an SuiteCloud Developer Network partner for BI recognizing the compatibility of the products in cloud based delivery and across their key target markets.
In February 2015, Phocas was selected by MAM Software, the UK and US based auto industry ERP supplier, as their strategic BI partner.
MAM is one of the leading ERP providers to the auto industry aftermarket in both the UK and the US. The partnership strengthens the status of Phocas BI in what is already one of our strongest vertical marketplaces.
The 2014/2015 financial year saw the completion and release of Phocas as a truly cloud SaaS based product. This has laid the platform for the release in January 2016 of the next version of Phocas. The new version will provide huge advances in data integration capabilities, visualisations and collaboration. It is supported by a self-service platform including customer forums and a Phocas Academy.
Business Structure and Location
A new operating division headed up by Gary Warner was announced at the end of the trading year to focus on Strategic Cloud partners.
The R&D centre in Orange, New South Wales (Australia) continued to grow significantly and a new United States west coast office was opened in Reno, Nevada to complement the existing east coast Orlando office.
Outlook for 2015/2016
We expect the 2015/2016 financial year to see continued strong growth in the existing operating companies and significant additional growth to come from our strategic partnerships, the development of the on demand and self-service marketplace and the opening of new offices in Europe.