Cybertill’s Revenues Grow by 63%
Cybertill, the UK’s leading cloud based retail software provider, has grown its revenues by 63% for the year ending in March 2012, up from £4.06m to £6.6m. Whilst the retail sector has experienced a turbulent year, as have many suppliers to the sector, Cybertill has increased revenues, profits and customer numbers dramatically in the last twelve months.
Cybertill, founded in 2001, supplies multi-channel software, specifically electronic point of sale (EPoS), e-commerce and mail order software and systems to non-food retailers. Over the last financial year it has grown customer numbers as it signed over 120 new retail customers. The strong and eclectic customer base covers many different sizes and sectors of retail (from independent to high street chains, including fashion, footwear, cycle, charity, home ware and many more). Such strong growth in customer numbers and new business indicates that many different retailers are turning to cloud based retail software for the real benefits it brings, such as being able to seamlessly manage multiple sales channels in real time.
“Cybertill has performed strongly in all areas of the business,” commented founder and CEO Ian Tomlinson. “Being able to increase revenues and customer numbers in such a testing environment is testament to that. Profits also increased and we have invested a further £150,000 on future products and development, and created ten new full time jobs increasing the workforce to 58. What’s more the liquidity of the business increased by over £250,000, which will help to sustain and grow the business in the future. I believe our figures bear out the fact that cloud computing is now a mainstream technology within retail. In addition to that retailers understand the benefits that web based software delivers, such as reducing total cost of ownership, managing multiple sales channels in real time. Such widespread adoption of cloud technology within retail, underpins Cybertill’s strong performance and its position moving forwards.”
Cybertill’s cloud based multi-channel software was a world first, introduced in late 2001. Whilst there are more cloud based retail sofwtare systems available today, Cybertill has the largest market penetration by some way and is continually evolving its offering to help it stay ahead of its competition.