It has been a successful start to Q1 FY 2014/2015 for the Phocas Group.
- Full year growth in operating income of 27%
- Launch of Phocas Academy
- Announcement of new branding for Phocas
- Phocas in the Cloud
- New R & D centre in Orange, NSW
The close of the financial year at the end of June completed another very successful year for the Phocas Group with an increase in both profit and income against budget and prior year. Income was over £12 million ($20 million USD) with a 27% increase on average across all regions and a particularly strong showing in the US where revenue was increased by nearly 50%.
We are forecasting a similar level of growth for the new financial year with the US still expected to be showing the biggest relative increase but a respectable 20% growth in our more mature markets in the UK and Australia
We continue to work very closely with the key analysts in the BI industry and perform very well on the key comparative measures utilized in these reports to assess the main industry players.
Phocas has been recognized by Gartner, Inc. in the February 2014 Magic Quadrant for Business Intelligence and Analytics Platforms report. The report states:
Customers select Phocas for its ease of use for end users, functionality, and data access and integration.’ and ‘Clients rate Phocas's interactive exploration and analysis of data, and ad hoc query, in the top quartile.
The BARC report for 2014 is due to be released very soon and we expect to continue the high level of success achieved in the last report where amongst many good results we achieved a first status in the measures of performance satisfaction, support, time to implement and mobile BI.
These analyst reports are based upon surveys completed by customers and are particularly relevant. It takes a little time to complete these surveys so I would like to take the opportunity to thank those customers who participated.
Look out for a new website (www.phocassoftware.com) to be launched in the first quarter of this financial year. Our website is the lynch pin in the rebranding of Phocas as ‘Successful Business Intelligence’ and the launch of the ‘Phocas Experience’ to provide the capability for a complete self service, cloud based environment for Phocas.
Since the release of Phocas Mobile we have seen a huge increase in the uptake of licences within the base with revenue retention running at 127%. The continuation of the focus of product development is on mobile BI, with the goal this year to achieve a completely cloud based offering. This is pivotal to our aim to provide self-service SAAS based BI. We're also moving along well with the first test environments already in place.
A new fully integrated Survey module will be released this quarter to add to our stable of Collaboration based functionality.
We are very excited by the launch of the Phocas Academy with regular training and user collaboration sessions being run from our head office training facility at 20-20 House in Coventry, UK. This provides for a coming together of users from different companies in a structured environment and the sharing of ideas on the application of Phocas across different functions. Expect to see and hear a lot more on this over the coming months.
Research and Development
Our commitment to research and development into BI remains as strong as ever. This is reflected by the opening of our new R & D facility in Orange, NSW (Australia) to house our ever expanding team.
Group Director Myles Glashier has taken on the key role of group Chief Strategy Officer. Myles will continue to be involved in our US company Phocas Inc where he will move from President to a Chairman position.
I am pleased to announce that Tony King will take over the position of President of Phocas Inc, with Kelly March taking up the position of VP Operations, Jason Birch the position of VP Sales and Jamie Brooks as VP of Marketing.
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