QUANTIQ smashes £30m revenue barrier

Microsoft Dynamics specialist adds 50 new heads to staff and opened a new centre in India last year

QUANTIQ has seen its revenues triple to surpass £30m in its latest fiscal year.

The Microsoft Dynamics provider reported a pre-audited total turnover of £31.1m for its year ending 31 December 2020, a 31 per cent increase from its 2019 figure. Operating income was £3.3m.

The company is divided into two units - professional services and the "smaller" managed services - with the latter seeing 42 per cent year-on-year growth.

Its SaaS software grew 76 per cent year on year which offset the decline in perpetual software licencing. The firm grew its workforce by 50 people, now boasting a headcount of 270 and with 25 open positions as of the end of 2020.

"Our strong performance in 2020 is in line with our original plan despite the COVID-19 pandemic," stated CEO Stuart Fenton.

"At the outset of COVID, we took a bold decision that the crisis would lead to greater market investments in cloud technology including business applications and decided to invest across the business in sales, marketing and increase delivery resources.

"Our pipeline of business grew over 30 per cent to well over £100m during the year and the business wins through 2020 will contribute to continued strong growth in 2021."

The firm also opened an engineering centre in Hyderabad in India during the year, to add to the managed services centre it opened in the Philippines in 2019. Fenton added that it intends to set up operations in the US this year.

"Our focus for the next three years is to continue to take market share through a combination of increasing skills, capability and capacity across more industry and geographic segments," he continued.

"We expect that a major focus on managed services, our nascent Azure practice and opening a USA operation in combination with many other tactics that are well executed should drive our revenue towards our next financial and market position goals."