Share price has doubled in the past two years.

Ideagen is a supplier of 'Compliance Based Enterprise Information Management Software' with operations in the United Kingdom and the United States serving a number of sectors.

Company website: www.ideagen.com

Posted elsewhere by 'rivaldo' is this abbreviated version of an article on Ideagen:


source article

"The software developer that wants to become Nottingham's next major firm alongside Boots, Experian and Capital One"

"As CEO David Hornsby points out several times, there won’t be many businesses in the county that have rocketed in value on the stock market from £1m to £170m in less than a decade.

But that’s what his Ruddington-based business has done through both organic and acquisition-led growth.

The path is clear for plenty more expansion, too, for a company that counts organisations like Heineken, the NHS and British Airways among its clients.

Operating in a world where governance compliance becomes more prevalent by the minute, there will always be scope for more opportunities for Ideagen, which makes quality, safety, audit, performance and risk management software.

Dave says: “Experian is a giant of the industry but in 20 years’ time, Ideagen will be up there with it.”

"AIM-listed Ideagen, which is currently on the lookout for 50 new staff, has increased revenue at a rapid pace.

Turnover was up 24 percent from £21.9m to £27.1m for the year ending April 2017, while profit also rose by 24 percent from £6.3m to £7.8m. Next year, revenue and profit are expected to hit £34m and £11m respectively.

Exports make up about half the business, with a prestigious list of clients both home and abroad.

David points out that Ideagen supplies its information management programmes to eight of the top 10 accountancy firms in the UK, seven of the top 10 global aerospace and defence companies, 17 of the world’s top 25 pharmaceutical firms, and 80 percent of the UK’s NHS trusts.

BAE Systems uses its software for compliance and risk management on its Eurofighter Typhoon model; Heineken and Shell’s internal audits are controlled by Ideagen programmes; and the Rail Safety and Standards Board (RSSB) uses it for risk management across the entire rail industry, logging 70,000 incidents a year and analysing the data to help prevent recurrences."

"Other elite names among Ideagen’s client list include Airbus, British Airways, Emirates and the European Central Bank.

While the company’s expansion has be largely explained by a series of acquisitions, there has also been organic growth helped by the market it operates in.

Legislation for complex, highly-regulated businesses is always changing, meaning organisations must have the right systems and procedures in place to make sure they are compliant.

Barnaby says: “There’s more and more companies around the world, in pretty much every sector, where risk has a greater emphasis."

"One of the most recent examples of this is the General Data Protection Regulation, which comes into force next year to address the increasingly complex cyber security threat that came to light most prominently in the global cyber-attack that crippled the NHS in May.

Data has already proven to be an invaluable asset in the industry – in what Barnaby calls “evidence based risk management” – in improving flight safety."

"In order to keep up with the changing landscape, Ideagen employs a third of its staff in research and development to bring new software to the market, as well as two ethical hackers whose job is to break into systems so they can identify vulnerabilities and respond.

The company also has one eye on competitors in a bid to stay ahead of the game.

David adds: “About 50 percent of the marketplace doesn’t have specific systems to manage risk management."

"“They have spreadsheets and word documents – manual systems – and these are big companies.

“If you said that 50 percent of the world didn’t have an accounting system, it would be crazy.

“But everyone has to get tooled up and that’s our job to help them.”"

"Turnover was up 24 percent from £21.9m to £27.1m for the year ending April 2017, while profit also rose by 24 percent from £6.3m to £7.8m. Next year, revenue and profit are expected to hit £34m and £11m respectively."

So forecast revenue up 25% and profit up 41% for next year.


(posted elsewhere by 'fizzypop')

I liked the look of company so have made a small investment at £1.43p