High profile contracts set to return Atlantic Global to the black

The company, based in Cleckheaton, West Yorkshire, said it has already secured two of the contracts after SpecSavers and Harvey Nash signed up. Atlantic’s managing director Eugene Blaine said another two high profile contracts are “imminent”.

The group designs and sells software which is used by businesses to manage their resources.

Last November, it launched its fully automated self service SaaS product.

Since the launch 300 customers have signed up for a 60-day trial. Of these eight have converted to paying customers.

“We’re happy with that,” said Mr Blaine. “We would hope for a 20 per cent uptake.”

A number of the 300 customers have yet to complete the 60-day trial, but the group is confident of further orders.

“People were very nervous about investing in this type of software in 2009 and 2010,” said Mr Blaine. “There was a lack of confidence, but now people are starting to invest more.”

Atlantic said the introduction of the automated SaaS platform will provide an effective means of targeting small and medium-sized enterprises including individual departments within a larger organisation.

The group has also signed a new partnership deal in the Middle East and a joint marketing initiative with Baker Tilly Revas, the back office outsourcing division of Baker Tilly.

The company said it has already secured nearly 70 per cent of its budgeted 2011 support services revenue. House broker Daniel Stewart has pencilled in pre-tax profits of £500,000 for 2011.

The group said the financial results for 2010 did not reflect its solid underlying commercial progress. In the year to December 31, Atlantic reported a loss of £220,000, after a £130,000 loss the previous year.

Turnover fell from £1.4m to £1.2m.

The group is to triple its marketing budget this year from last year’s modest £56,000 expenditure.

Atlantic won a number of blue-chip customers during 2010 including Merseyside Police, Quadratek Consulting, British Computer Society and Friends Provident.

Atlantic develops cost-effective software applications to manage projects and improve the management of the business and counts GlaxoSmithKline, Pfizer and Aviva among its long-standing clients.