Proactis seeing success in the pipeline

SOFTWARE firm Proactis said its pipeline is stronger than at any time in its history and increased investment will position the group for further growth.

The Wetherby-based firm said the outlook for the current financial year is good.

The group added that profits for the year to July 31 are expected to be in line with market expectations.

It added that a strong performance in consultancy services has led to growth in revenues, although new licence deals were slower to convert than expected.

Licence upgrade deals from existing clients showed strong growth.

The group had net cash of 3.5m at the end of July.

Proactis licences its software to firms to help them cut the cost of procurement.

The AIM-listed firm now works with more than 350 organisations around the world.

Recent new customers include Yorkshire Dales National Park, law firm Hill Dickinson, South African Express Airways and the Chartered Institute of Management Accountants.

Its software is used by organisations to streamline procurement and reduce budget over-spend, "making sure the right contracts are in place with the right suppliers".