Software firm looks to new initiatives to raise sales

STAFFORDSHIRE software firm, eg solutions, is to press ahead with a series of new initiatives as its looks to maintain the progress achieved during the past year.

Latest full year results show the firm achieving a break-even position on sales of £7.6m, however, it said it remained optimistic for the current year because of interest in its range of back office software packages.

The company exploited market interest by developing new clients in the telecoms, local government and retail banking sectors.

Chief executive Elizabeth Gooch said the plan now was increase recurring revenues by continuing to target these sectors rather than diversify too far.

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However, she said the firm would look to leverage its position by further exporting its products into markets in the United States, South Africa and Asia.

“It has been a year of progress and we want to build on that this year,” she said.

“We have made our investment and seen a small amount of growth so we are now planning for the medium term.

“Interest in our products is strong and our existing customers have all been very positive. What we must do now is to convert that interest into new sales.”

She said the situation surrounding the firm’s US partner, Aspect, was also being contained and would not impact the eg solutions business.

Aspect has filed for Chapter 11 bankruptcy protection in the US while it looks to restructure its debt.

The company has a 9.5% equity interest in eg as well as a representative on its board

“There is no risk for us because of what has happened in the US,” said Mrs Gooch.

“It is the UK arm of the business that is a stakeholder with us and they are not affected by what’s happening to the US company.”