growth spotlight


David Griffiths, MD of Reading- based FISCAL Technologies


FISCAL Technologies award-winning forensic accounts payable software has been safeguarding organisational business- spend for more than 14 years.


Turnover £4m; Previous Year £2.6m; Growth 53.8%


FISCAL’s rapid growth is a culmination of leading-edge technology that delivers rapid return on investment, dedicated management, and engaged employees focused on driving growth throughout the business, explained Griffiths.


“Austerity has sharpened the resolve of many organisations to protect spend and reduce risk. This has provided a compelling opportunity to demonstrate the potential savings and risk management benefits of FISCAL’s products, especially in previously


of the magnitude of losses that can occur when invoice processing and supplier management are not closely monitored. Even organisations with robust internal controls and procedures can benefit from continuous forensic monitoring, as our ROI track record attests.


“FISCAL Technologies is very proud of the cohesive and dedicated team that underpins our continued rapid growth. We encourage staff participation and engagement, which enables our driven, agile employees to continuously develop the best technology and provide the best service.


untapped business sectors like healthcare, education and local government.


“So far FISCAL Technologies has reinvested for growth, avoiding the need for external funding, but the key challenge has always been education. Not within the company, but among organisations that are unaware


“Our core strength lies in unmatched forensic technology and the proven cost savings and risk management benefits this technology affords. We are expanding our reach through new partnerships and into new geographies such as Europe to build on the strong growth we have achieved so far.”


Penningtons Manches’ view:


Growth can begin a journey of fresh business experiences, even for proven competent management teams.


And, like any venture into the unknown, it’s wise to take advice from those who have already travelled that journey, overcome the pitfalls and discovered the safest routes to desired destinations – professional ‘trip advisors’ who know the lie of the land.


As Justin Starling, partner in the Reading office of leading law firm Penningtons Manches, highlighted: “Business clients can be expected to be highly skilled in their own fields of expertise, but rapid growth – bringing new challenges such as funding and M&A activities, employee incentives, or international expansion into new jurisdictions, for example – can put pressure on management teams, processes and ultimately the entire business.”


He went on to add that the knowledge, business awareness and capabilities of professional disciplines – in particular law, finance, and accountancy– can help remove those pressures, resolve issues and ultimately save a client management time which they can then direct to their core commercial priorities. Impartial


professional advice also provides confidence and certainty, underpinning key growth decision-making.


Commenting on the strength of technology businesses in the region his colleague Nicola McConville, a partner based in the firm’s Oxford office, said: “The Thames Valley is an incredibly fertile ground for tech companies and I feel privileged to have been able to work with


so many innovators in the sector. From start-ups to well-established groups, local tech firms continue to blaze a trail both in the UK and globally. A lot has been achieved and there is a great deal to be proud of, but it’s rare to find a business that’s become complacent about its success – the drive to continually improve and reach the next level is a common factor.”


penningtons.co.uk The Thames Valley GROWTH SPOTLIGHT


THE BUSINESS MAGAZINE – NOVEMBER 2017


businessmag.co.uk


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