Build­ing on tech­nol­ogy: the Ele­cosoft story

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Head­quar­tered in Lon­don, with op­er­a­tions in the UK, Swe­den, Ger­many, Benelux and the USA, Ele­cosoft’s (ELCO:AIM) soft­ware so­lu­tions cover the build­ing life­cy­cle from plan­ning and project man­age­ment, to es­ti­mat­ing and tim­ber en­gi­neer­ing on to 3D de­sign, prop­erty main­te­nance man­age­ment and dig­i­tal mar­ket­ing so­lu­tions.

Orig­i­nally listed on the Lon­don Stock Ex­change in 1939, the Com­pany’s long his­tory has seen the busi­ness pivot from be­ing a con­struc­tion ma­te­ri­als man­u­fac­turer to be­ing to­tally dig­i­tal.

Ele­cosoft started ac­quir­ing soft­ware busi­nesses in the 1990s and 2000s, pro­vid­ing soft­ware such as plan­ning, com­puter aided de­sign (CAD) and vi­su­al­i­sa­tion soft­ware.

When the global fi­nan­cial cri­sis hit in 2008 and there was an overnight fall in con­struc­tion ac­tiv­ity Eleco had to divest a large part of its core con­struc­tion com­po­nents man­u­fac­tur­ing busi­nesses and fo­cus on its cash gen­er­a­tive soft­ware busi­nesses, a sur­vival strat­egy planned and ex­e­cuted un­der the di­rec­tion of long-time ex­ec­u­tive chair­man John Ket­te­ley.

Now Ele­cosoft has been trans­formed into a grow­ing, highly cash gen­er­a­tive and well fi­nanced in­ter­na­tional con­struc­tion soft­ware spe­cial­ist with 49 per cent of its rev­enues re­ceived from main­te­nance, sup­port and soft­ware train­ing.

The Ele­cosoft share price in­creased from 6p in 2013 to 72p at the time of writ­ing and it would seem that the tran­si­tion­ing strat­egy has paid off.

Ele­cosoft counts amongst its cus­tomers 90% of the top 100 UK con­trac­tors, 40 of the top 50 con­struc­tion com­pa­nies in Swe­den and seven of the UK’s top 10 re­tail­ers. Its soft­ware has been used on pres­ti­gious in­ter­na­tional projects such as The Shard in Lon­don, the Re­ich­stag Dome in Berlin, Hong Kong In­ter­na­tional Air­port and the third Bospho­rus Bridge in Tur­key.

AC­QUI­SI­TIONS

Ele­cosoft con­tin­ues to build on its suc­cess with strate­gi­cally placed ac­qui­si­tions that en­hance its soft­ware of­fer­ing and ex­pand its pres­ti­gious cus­tomer base.

In July 2018, it strength­ened its port­fo­lio with the ac­qui­si­tion of Shire Sys­tems Ltd, a wellestab­lished UK provider of Com­puter Main­te­nance Man­age­ment Soft­ware, (CMMS) with a 30 plus year his­tory and over 800 ac­tive cus­tomers. In 2016 Ele­cosoft also ac­quired ICON, a lead­ing Soft­ware as a Ser­vice

IN­TRO­DUC­ING… ELE­COSOFT An AIM-quoted spe­cial­ist in­ter­na­tional provider of con­struc­tion soft­ware and re­lated ser­vices to the global ar­chi­tec­tural, en­gi­neer­ing, con­struc­tion and owner/op­er­a­tor in­dus­tries.

(SaaS) provider of Build­ing In­for­ma­tion Man­age­ment data to the UK re­tail sec­tor, with cus­tomers in­clud­ing Asda, Next and Sains­bury’s.

GROWTH

The board of Ele­cosoft con­tin­ues to see sig­nif­i­cant growth op­por­tu­ni­ties for its soft­ware to en­hance the per­for­mance of busi­nesses in con­struc­tion but also in other sec­tors, by im­prov­ing the time­li­ness, cost-ef­fi­ciency and risk pro­files of cus­tomers’ projects.

Ele­cosoft is also par­tic­u­larly well placed to max­imise op­por­tu­ni­ties from Build­ing In­for­ma­tion Mod­el­ling (BIM). BIM is a dig­i­tal frame­work that en­ables col­lab­o­ra­tion on a build­ing project pre­con­struc­tion, dur­ing the build and then post con­struc­tion when op­er­at­ing the build­ing. It cre­ates a com­mon data en­vi­ron­ment (CDE), which en­sures that ev­ery­one work­ing on a con­struc­tion project knows what’s been done, when and by whom.

This al­lows for eas­ier col­lab­o­ra­tion, record keep­ing and im­proved ef­fi­cien­cies. The UK govern­ment made use of BIM manda­tory in 2016 and this has pro­vided Ele­cosoft with a com­pet­i­tive ad­van­tage as BIM is in­creas­ingly be­ing im­ple­mented in other coun­tries. Ac­cord­ingly, as Ele­cosoft has ex­pe­ri­enced the move to BIM along­side its UK cus­tomers, it is able to pro­vide sup­port, in­sight and guid­ance about the adop­tion of BIM in other mar­kets.

ELE­COSOFT ADDS VALUE

The flex­i­bil­ity of an in-house Prod­uct Devel­op­ment team means Ele­cosoft works closely with its cus­tomers and part­ners in de­vel­op­ing its in­dus­try-tai­lored so­lu­tions. Ele­cosoft’s prod­ucts and ser­vices are recog­nised for their align­ment to the spe­cific needs of AECO cus­tomers in its core mar­kets. Since re­brand­ing the group in 2015, its im­proved mar­ket pres­ence has en­sured it is de­liv­er­ing a co­he­sive mes­sage whilst ex­pand­ing the in­te­grated port­fo­lio.

ELE­COSOFT PRO­TECTS VALUE

Ele­cosoft is a truly ‘peo­ple’ busi­ness, with a geo­graph­i­cal foot­print in seven coun­tries and a 200 plus strong em­ployee team, of which 50 are soft­ware de­vel­op­ers and 59 are client fo­cused. Its strong cus­tomer re­la­tion­ships mean that it works closely with cus­tomers and part­ners in gen­er­at­ing re­cur­ring busi­ness and meet­ing their strate­gic re­quire­ments. In 2017, Ele­cosoft in­vested 14% of rev­enue in in­no­va­tive soft­ware so­lu­tions and in 2016 15%.

ELE­COSOFT’S STRATE­GIC OB­JEC­TIVES

Ele­cosoft’s strate­gic ob­jec­tive is to con­tinue to drive in­no­va­tion and growth, by de­vel­op­ing its cur­rent port­fo­lio of in­te­grated soft­ware so­lu­tions and mak­ing them avail­able across mul­ti­ple plat­forms and de­vices, whilst ex­pand­ing Ele­cosoft’s sales and mar­ket­ing ca­pa­bil­i­ties, chan­nel ca­pac­ity and op­er­a­tional ter­ri­to­ries.

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