The latest UK Economic Review, released today, shows that Britain’s businesses were able to post growth in the run-up to the EU referendum. GDP grew by 0.6 per cent between April and June despite market uncertainty around the vote. A key partner for blue chip brands navigating this British market and its interaction with the rest of the world has been British success story Condeco Software. The leading global provider of office utilisation and workspace scheduling solutions, which recorded a sales revenue increase of more than 300 per cent between 2011 and 2015, attracted investment of $30 million in 2016.
Condeco has built a successful business by addressing the pain points and delivering value to FTSE 100 companies such as Barclays, Anglo American and Unilever. It has maintained a 95 per cent customer retention rate as its solutions remain key for global businesses. Following the $30 million investment from Highland Europe, Condeco is developing its offering for SMEs, due to be released in early 2017. Already reaching 12 geographies, the company will also use the investment to strengthen their international presence through strategic acquisitions.
The company’s characteristic emphasis on R&D has been recognised with the prestigious Queen’s Award for Enterprise in the Innovation category, as their cutting-edge workplace technology continues to unlock value for their varied portfolio of clients. Commitment to improving the quality of their service has seen the company invest in converting their workplace scheduling software to a Software-as-a-Service model. Despite the costs of this investment, Condeco’s overall turnover for 2015-2016 was £19.6 million, a 29 percent increase on the previous year. These figures see the company retain its place on the Sunday Times Tech Track 100, as one of the UK’s fastest-growing tech companies.
Paul Statham, Founder and CEO of Condeco Software, comments: “When we created Condeco back in 2000 we were at the forefront of a trend to create more digitally enabled workplaces. With increasing pressure on real estate costs and a widespread desire to engage employees, we’ve seen the demand for technology, designed to help decision makers manage office spaces and enrich collaboration, grow exponentially.
“We’re seeing that many more employees want to work flexibly, with an increasing number of employers choosing to pursue the so-called ‘start-up’ working culture that has enabled lots of innovative new players to take the market by storm. The opportunities here are immense – but as the nature of work changes, more complexities are handed to the decision makers in charge of managing workplaces. In providing the tools that power change in the workplace, we’ve been able to meet this growing demand.”
Condeco’s capability to meet business needs has been boosted by this year’s strategic acquisition of New York based unified communications firm myVRM. The myVRM platform streamlines the whole process of setting up audio, video, content sharing and virtual meetings, adding value to blue chip customers by providing seamless connectivity with other technologies.
This capability sets Condeco ahead of the trend, with Gartner now reporting that companies who want to secure digital transformation must invest in the workplace to match. To create new business designs by blurring the physical and digital worlds, firms must integrate the online and offline working worlds of their employees.