Monday 29 March 2021

*UKHotViewsExtra* Healthy growth for confident Allocate Software

Allocate Software logoHealthcare-focused workforce planning and optimisation software specialist Allocate Software continues to grow strongly, reporting double-digit revenue growth in FY20 (to end May) and increases in bookings, revenue and EBITDA so far in FY21 that are ahead of last year and significantly ahead of plan. 

Indeed, nine months into FY21 key performance indicators are encouraging. According to CEO Nick Wilson, ARR growth is 14%, up from 10% a year ago; recurring revenue is at 92%, with every single UK customer now on cloud versions of its software; and customer churn is very low with net revenue retention north of 110%. With low churn and better than expected bookings this year, Wilson is understandably confident on the outlook.

In part, Allocate is benefiting from underlying trends in the healthcare market as it widens its ‘aperture’ from supporting healthcare organisations, to increasingly being focused around the staff members themselves.  More…

Posted by Tola Sargeant at '16:56' - Tagged: results   software   healthcare   hcm