It’s not just the big businesses such as Microsoft and SAP that are starting to see strong returns by moving to SaaS, Access Technology Group (Access), the mid-market business solutions provider, has today announced a record turnover of £68.9 million – which has more than doubled in four years through their move to SaaS.
The company has seen an increase in SaaS and subscriptions revenue of 175%, as more companies embrace software solutions to meet their business needs, with recurring revenue at Access Group now represents 80%, with more than 50% contracted.
The results represent 29% growth in its turnover from 2014 and a 33% increase in Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) to £15.4 million. These are the first financial results since the TA Associates investment in the company in January 2015.
Chris Bayne, CEO for Access, said, “The significant growth of our SaaS offering demonstrates that businesses today are increasingly turning to cloud-based solutions to improve efficiency. We envisage this part of our business will play a substantial role in our continued growth over the next financial year.
Access customers include Center Parcs, Renault, Cambridge University and Blenheim Palace with integrated business management solutions either delivered through the cloud or installed on premise, depending on customer requirements.