Lutterworth software firm slashes costs by 20%

A cost-cutting exercise at Lutterworth software firm Intercede is underway, according to a trading statement issued this morning (7 June).

The firm, whose chief executive and founder Richard Parris stepped down in April, says it expects to make a loss of £3.8m for the year-ending 31 March – down by £100,000 on 2017’s results.

The company says it has started its new financial year removing “significant” costs from the business – somewhere in the region of 20%.

In April, Parris was replaced by Klaas van der Leest, who has worked for CA Technologies, Intelecom UK, Amulet Hotkey, Global Crossing, Attenda and Logica.

Chuck Pol, chairman, said: “The new leadership team are fully focused on building on recent successes and are committed to improving standards, enhanced operating performance and the conversion of recent product development into meaningful revenue generation and growth.

“Following the second half restructuring, the cost base has been brought back in line with future revenue forecasts and the Board are confident that Intercede will grow and return to profit within the next two years.”