Innovative software firm Cascade faces 2010 with optimism after increasing turnover levels in 2009 despite the recession.
The Leeds-based company, which develops and supplies award-winning HR and Payroll solutions, reports turnover of £3.3m in the 12 months to December, against £3.2m in 2008.
And, after winning 42 new pieces of business this year including Morgan Est, Cascade is forecasting further growth next year to between £3.5 and £4m
Software development director Dan Edwards said: “The impact of the tough economic climate has curbed our previously steep growth trajectory, which saw turnover double in both 2007 and 2008, placing us in the top 1% of Britain’s fastest growing businesses.
“Our strong start position, fortified by the pre-emptive introduction of a new team structure at the start of the downturn, has however enabled us to maintain momentum and our forecasts for next year, though conservative, are very healthy.”
Cascade has grown its staff from 12 to 54 in the last three years, and its clients worldwide to 207, without any borrowing or outside investment.
Its ‘intelligent’ software, which can be tailored to ‘push’ other processes rather than existing solely as a data bank, has won the support of charities, manufacturers, retailers, telecommunications firms, housing associations, and the legal sector. “It’s been an organic growth as our reputation has spread by word of mouth,” said Edwards.
Significant contract wins for 2009 include specialist small business lender Bank of Cyprus UK (recent overall winners at the Personnel Today Awards 2009), international banking consultancy SOFGEN, and the aforementioned Morgan Est, one of the UK’s leading suppliers of public and private infrastructure services.
In October, Cascade was named Best Enterprise HR Solution Provider in the Software Satisfaction Awards which, significantly, are voted for independently by clients. The company’s combination of flexible solutions and excellent after sales support combined to win it 82% of the overall vote.
Edwards said: “We have become the market leader in integrated . NET HR and HMRC Accredited Payroll software. We have also guarded against going down the easy route of using add-on software and partner systems in favour of achieving higher levels of quality by developing our own client-focused solutions.
“Sustained investment has seen the release of version 4.0 of the Cascade solution. The new version introduces yet more innovations and ensures our clients remain in line with HR and Payroll developments. Functionality that allows HR teams to post vacancies online and also receive applicants seamlessly, has been particularly popular as organisations reinvest in people as the economic outlook improves.”
“We are continuing to thrive in a challenging climate because we excel by design, by desire and by sheer determination!”
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