Cloud has silver lining for tech firm

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NORTHERN technology firm TSG saw double-digit growth in sales last year as demand rises for cloud-based computing services.

The Newcastle-based company reported revenues of £42m during the 12 months ending March 2012, up from £37m the previous year. Core earnings rose to £1.2m, from £490,000 in 2011.

TSG, which is privately owned, has offices across the UK, including Leeds and Scunthorpe.

It is moving towards a subscription model for business software as customers change the way they consume technology.

Industry analysis from Gartner found that nearly half of 46 per cent of all bought software ends up as “shelfware”.

TSG said the opportunity to pay on a monthly per-user basis offers real advantages for users.

“We’re very much on the front foot while others may struggle with the transition to a subscription-based model,” added TSG.