Absoft celebrates 20th anniversary with major turnover, profit and staffing boost
Leading independent SAP consultancy Absoft has boosted its turnover and pool of expert staff by more than 20% on the back of significant growth across its key markets as it marks its 20th anniversary.
The Aberdeen-headquartered business software specialist's oil and gas team, founded three years ago, recorded growth of 21% to more than £4.25million as it attracted seven new clients.
Absoft, which was founded in 1991, has recently increased its office space at Aberdeen Innovation Park as it builds on its team of 78 staff to service increasing demand.
The company is now targeting further growth with a strategic move into Norway and increased work in the Americas for clients including major operators and oilfield service providers.
Don Valentine, operations director and division head, says: "Despite the challenging economic conditions of the last two years, we have seen significant success as we have expanded our work extensively across the North Sea, Scandinavia and South America.
"We have completed a number of projects in the past 12 months, helping operators and service companies to get the most from their investment in SAP software.
"And we have witnessed an upsurge in interest from companies looking to implement integrated business systems as pressures on margins and profitability lead them to look for new ways to improve operational efficiency and reduce costs.
"We now aim to significantly grow our business by ramping up our work in Norway, where there is a natural synergy with operations and standards in the UKCS."
Absoft is continuing to invest in its specialist consultancy pool following the addition to its senior management team of head of professional services Eric McAdam, along with five graduate consultants in 2010-11.
"We are actively seeking further new talent to support our future growth plans and have added two consultants and five further graduates to our team already this year," adds Valentine.
The company's oil and gas team also engages directly with the industry through a series of quarterly forums designed to give senior managers using SAP in supply chain and maintenance operations the opportunity to discuss best practice, and investigate solutions to challenges they face in their daily work.
Overall turnover at Absoft rose by 23% in the last financial year, from £4.9million to £6.1million, supported by a 25% increase in staff and investment in its own systems as it expands its client base. Pre-tax profits jumped by more than 70% to £275,000.