Wetherby software firm Proactis reveals strategic progress and new contract win

The firm's board is also expecting adjusted earnings of £6.2m, up from £5.6m in the first half, against a comparative period unaffected by Covid-19.

Operating margins have improved following restructuring of the group's management team and operating cost base, Proactis said.

New business deal intake for the period was strong with total contract value of £6.7m delivered, despite the persistence of previously announced Covid-19 related headwinds, it added.

Tim Sykes, CEO of Proactis, said: "I am encouraged by the progress the group has made during the period as our strategy becomes embedded within our teams across the group.

"We have met every milestone that we needed to in order to validate our strategy for mid-market business spend management solutions and for bePayd and we can now push forward with confidence to pursue the market opportunity we have."

Proactis has also signed a contract with Denbighshire County Council (DCC) to provide its early payment service bePayd into DCC's supply chain.

The Wetherby-based firm's bePayd service will enable DCC's suppliers to receive an automated notification of approved invoices with the option of accelerating payment before the pre-agreed contractual terms.

Proactis will fund the accelerated payment in exchange for a small discount paid by the supplier.

It is anticipated that bePayd will be offered, within the first year, to approximately 3,000 suppliers that generate over 50,000 invoices per annum with a spend value exceeding £100m.

Mr Sykes said: "DCC is a long-standing and valued customer of Proactis and we are delighted that it has agreed to offer bePayd to its suppliers.

"bePayd is a natural extension to the portfolio of Proactis' existing solutions adopted by DCC and we expect that it can drive liquidity into the supply chain.

"We will now work closely with DCC to design and implement bePayd's roll-out and look forward to updating the market in line with progress."

Councillor Julian Thompson-Hill, Denbighshire County Council's lead member for finance, performance and strategic assets, said: "The council recognises the importance of its valuable supply chain, especially in these difficult times. Proactis has recognised the needs of our suppliers and we are keen to be able to offer bePayd to them."

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