Figures for end of financial year 2006-07 show marked progress for Coroni, and its Reflex software in particular.
Coroni Technology looks forward to a record-breaking 2008 as the final figures for financial year 2006-07 show marked progress for the company, and its Reflex software in particular. Success is evidenced in both financial figures and sales growth.
Turnover for the previous year ending October 2006 doubled from 2005 and continued with a further doubling in 2007. The value of contracts signed for implementation in 2008 to date exceeds the total for the last two years.
When Coroni was established in 2004, the development of software products was paid for by consultancy revenues from short-term contracts.
Licence revenue targets have been achieved well ahead of schedule.
The number of clients rose during the year by 35% with a consequential 45% increase in licence fees.
The majority of clients are small to medium enterprises (SMEs) typically having between 500 and 2000 employees and are won through partners. However the company has proven itself capable of supporting corporate clients, winning the largest flex deal of the year with its partner Ceridian.