Phocas Software Chairman's Statement - Q2 FY 2014/2015
- Continued Group revenue growth of 27%
- Outstanding Performance in the BARC BI survey 2014
- Deloitte Tech Fast 50 award - Fastest growing Tech Company
- Successful launch of new Phocas Website
- Beta release of new Cloud first, mobile focused self-service BI Platform
In line with our year on year growth of 27% announced in my previous Chairman’s Statement for the financial year ended 30th of June 2014 we again achieved a 27% revenue growth for the first quarter of the new trading year. This is exactly in line with budgets. Despite continued heavy commitment to R & D and investment in quality employees our profits are running slightly ahead of budgeted figures.
BI Analyst Reviews
We achieved an excellent result in the global BARC BI Survey 2014 released in September. Phocas achieved a number one position in 13 categories and a leading position in another 26. The number one categories are:
- Business benefits
- Project success
- Proportion of employees
- Competitive win rate - #1 in two peer groups
- Cloud BI
- Mobile BI - #1 in two peer groups
- Performance satisfaction - #1 in two peer groups
- Project length (how long it takes to implement the product) - #1 in two peer groups
The excellent results in this survey are all the more important to us because they are based upon the input from customers and compare us to our direct peers in the BI industry.
Following on from the recognition in the UK Daily Telegraph of Phocas as one of the top 1000 SME companies responsible for leading the UK out of recession, we are very proud to be recognized in Deloitte’s Technology Fast 50 awards in Sydney, Australia. This identifies the top 50 fastest growing technology companies over the last 3 years.
The new Phocas website was released in September. The site provides us with a new and exciting brand image and is an important plank in our movement towards offering full self-service BI and strong and controlled inbound marketing.
To visit our website go to www.phocassoftware.com.
The first Beta release of the new Cloud first, mobile focussed self-service BI platform has been made and is being used very successfully within the Phocas internal systems. Not only does this put in place the foundations for full on demand BI but it also provides significant visualization, collaboration and productivity improvements.
We expect to see the first user release in the first quarter of 2015.
We continue to see very strong growth in the demand for BI across all of our markets as reflected by BI industry surveys. We also see a steady recovery from the low economic growth period of the last few years with growth particularly strong in the US and UK.
For more information or if you have any questions, feel free to contact us or leave a comment below.