Software firm rides wave of success as revenues rise

Business software consultants Opal Wave has reported a 35% increase in turnover during the 2016-17 financial year.

Opal Wave, which is based at Peckover Street in Bradford and specialises in business planning and consolidation applications, saw its income rise from £3.02m to a record £4.08m during 2016-17.

This performance followed a 50% increase from £2.04m in the previous year.

Highlights of Opal Wave’s performance during 2016-17 included becoming the world’s first organisation to launch a cloud-based version of the SAP Business Planning and Consolidation (BPC) system – which contains a suite of essential accounting templates – as a service.

New Opal Wave clients recruited during 2016-17 included investment management company Polar Capital; apparel, footwear and fashion accessories expert Global Brands Group; and multinational support services specialist Babcock international Group.

Simon Bell, Opal Wave sales and marketing director, said: “We’re delighted that our blend of outstanding technical expertise, understanding of clients’ business needs and commitment to excellent customer service continues to see our company grow very rapidly.

“Although we’re never complacent, we see no reason why our obviously successful formula shouldn’t continue to attract and retain outstanding clients in the future, particularly as our recent recruitment has brought some further outstanding people into the firm.

“We also feel that factors such as the uncertainties surrounding Brexit will increase our market opportunities. We believe more enterprises will need to review their enterprise performance management capabilities and bring state-of-the-art automation to the processes in which we specialise, as they seek to streamline their operations and have the most accurate possible information on which to base important decisions.

“With the launch of our BPC Cloud service we have positioned ourselves to be able to help more businesses address their challenges enabling them to reduce costs while at the same time improve decision making to deliver higher revenues and profits as well as ensuring compliance in their business and financial reporting processes.”