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Wednesday 28 October 2020

Have you got your copy of TechMarketView's supplier rankings report?

Have you read TechMarketView's recently published supplier rankings report? suppDon’t miss out on finding out who ranks where in our Top 60 and delving into the supplier profiles of the Top 30 players. The rankings reflect the changes in the market, and in particular how the long-standing suppliers are managing the swing from heritage Software and IT/Business Process Services to new propositions.

Top 20 ranking tables are also provided for key horizontal market areas as defined by TechMarketView’s Digital Evolution Model (DEM): Enterprise Software, Consulting, Solutions, and Operations (across Business Process, Applications and Infrastructure) giving readers unparalleled depth and breadth of analysis.

The much anticipated, and highly comprehensive, Supplier Rankings report is available for our Foundation Service clients here: UK SITS Supplier Rankings 2020.

If you are not a client of the Foundation Service, or indeed of TechMarketView, contact today to find out how to get your copy.

Posted by: HotViews Editor

Tags: rankings   suppliers  

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Tuesday 27 October 2020

*NEW RESEACH* End User Insights: How COVID is Changing Manufacturing

Report cover imageThe initial COVID-19 wave had a profound effect on UK manufacturing at a time when it was already dealing with Brexit uncertainty and the possibility of a ‘no deal’ scenario. As we are all too aware, facilities were suddenly shut down, the fragility of supply chains was exposed, activity in some sectors plummeted virtually overnight and order books and output seized up. 

Inevitably, output will fall across 2020 yet the sector is showing signs of revival and manufacturers have started prioritising long-term recovery over short-term survival. Cash flow is a concern so investment budgets are being cut which will likely hamper efforts to take advantage of recovery phases but the initial COVID crisis was a proof point of the value of technology and the shift to digital and this is accelerating adoption. It is a turbulent landscape for manufacturers and suppliers but as the sector represents a sizable percentage of UK IT investment, developments can have a material impact on supplier performance. 

Informed by an end user panel discussion hosted by industrial software supplier Aveva, the End User Insights: How COVID is Changing Manufacturing report provides valuable insight into how manufacturers used technology to cope with the initial COVID disruption and plans for navigating the next phases.

Subscribers can download “End User Insights: How COVID is Changing Manufacturing” here

If you’d like access to this report but don’t yet have a TechMarketView subscription you can contact Deb Seth for information about our services. 

Posted by: Angela Eager

Tags: software   manufacturing   covid-19  

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Tuesday 27 October 2020

Growth pains ease for Unisys in Q3

uniFollowing on from a very painful COVID-hit Q2, Unisys has seen an improvement in the three months to the end of September.

Revenue for Q3 was down 9.8% (constant-Currency GAAP) over last year, but up 10% on Q2, to $495.2m. The firm saw an improvement in areas of the business hardest hit by the pandemic, namely its Field Services business, Business Process Outsourcing (i.e. volume based contracts) and the Travel & Transportation sector. Two contracts based on its ClearPath Forward environment, which were delayed in Q2, came good in Q3. However, a “lighter” renewal schedule than last year meant year-on-year the numbers were weaker.

Operating profit margin was 5.6%, versus 8.9% in the prior-year period, and up 750bps sequentially.

Services revenue was $426m, up 7.6% on Q2 but down 11% (constant currency) on last year. Volumes were down year-over-year, including in the company’s check-processing business.

In all, it’s a relief that things picked up during July, August and September as national lockdowns eased. However, as the world’s economies try to pick a way forward through the pandemic, tech suppliers that lack resilience will continue to be the hardest hit.

Posted by: Kate Hanaghan

Tags: results  

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Tuesday 27 October 2020

Streaming analytics proves to be resilient for First Derivatives

FD logoNorthern Ireland based analytics specialist First Derivatives continues to demonstrate its resilience during these uncertain times with a reasonable H1 report that shows continued demand for its high performance streaming analytics Kx platform.

Revenue for the six months to 31 August 2020 was up 3% to £119.6m.  However, the bottom line was not so robust showing a 12% PBT decline to £7.4m or a 2% decline to £21.5m on an Adjusted EBITDA basis, although investment in its customer success team and R&D did account for some of the decline. It is investing wisely: we have seen dedicated customer success teams bring significant value to other suppliers who have created them. The software side of the business fared best, delivering a 4% increase in licence sales to £74.4m but managed services and consulting revenue was flat yoy.

Understandably, the rate of revenue growth is lower than the year ago period but stands up well in the current environment. FD has a strong offering in the shape of its in-memory “Kx” database that has increasingly demonstrated its appeal across a variety of industries. In May the company signed an important partnership with TCS, as it looks to further accelerate its global growth (see: First Derivatives and TCS agree global partnership).

Posted by: Angela Eager

Tags: results   software   analytics  

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Tuesday 27 October 2020

Improvements all round at Capgemini

LogoStrengthening demand in all of its businesses and regions helped Capgemini to a better than anticipated Q320 performance. Revenue for the three months ended 30th September rose by 18.4% yoy on a constant currency basis taking the quarterly top line above €4b for the first time. These figures include the impact of the consolidation of recently acquired Altran’s financials. Excluding changes in Group scope, turnover in the second quarter fell by 3.6% yoy (Q220: -7.7%).

Bookings held up well during the third quarter increasing by 17.4% yoy to €3.9b with sales of digital and cloud related services proving particularly resilient. These grew by a further 10% over the same period in the prior year and now account for three fifths of Capgemini’s global revenue.

From a business portfolio perspective, Capgemini France, the Consulting line of business and the Manufacturing and Services verticals remained the worst hit by the continuing fallout from the pandemic. The company’s Asia Pacific and Latin America region continued to expand and Capgemini’s other mainland European operations collectively returned to organic growth in the latest reporting period. Firm-wide Public Sector sales further accelerated in the third quarter and improved demand from Financial Services clients saw this industry segment deliver a yoy top line improvement in Q3.

Capgemini UK & Ireland was reported to have achieved one of the better sequential regional revenue growth performances. This, however, was still not sufficient to reverse a yoy decline in organic sales, which we estimate was on a par with the overall Group figure for the third quarter.

Now equipped with a new purpose (see here), Capgemini reaffirmed its guidance for FY20. Despite the gathering momentum of the COVID-19 second wave in many of its major markets, the Group still anticipates that the yoy increase in turnover at constant exchange rates will be between +12.5% and +14.0%, with the organic revenue decline limited to between -3% and -4.5%. A return to underlying growth is expected in Q221.

Posted by: Duncan Aitchison

Tags: results   systemsintegration  

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Tuesday 27 October 2020

No surprises from Tech Mahindra

LogoTech Mahindra has reported a steady Q221 performance. Revenue for the three months ending 30th September increased sequentially by 2.9% on a constant currency basis to $1.265b. Compared with the same period in the prior financial year, however, turnover decreased by 1.7%. Together, these growth figures place the company mid table amongst the other Tier 1 offshore players (Infosys, HCL,  TCS and Wipro) to have reported so far in the current round of results.

Tech Mahindra also saw a further qoq bottom line improvement. Profit after tax in the second quarter was up 11.5% to $144m with margin gaining 67 bps to 11.35%. Unlike many of its peers, however, the junior member of the offshore services top tier saw its margin fall yoy, slipping by 104 bps against Q220.

No forward guidance was provided beyond an anecdotal observation that the company is “witnessing demand revival across multiple segments”. Another largely unremarkable set of results would seem to be on the cards for Q321.

Posted by: Duncan Aitchison

Tags: results   offshore  

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Tuesday 27 October 2020

Tech Goodness: PDMS releases Northern Employment platform

PDMS logoThe devastation wreaked by COVID-19 is all the more apparent in the Northern part of the country where currently many of the local lockdowns are in place putting jobs, among other things, under severe threat. Software engineering services provider PDMS has joined forces with NP11 (a group of 11 Northern local enterprise partnerships) to launch SignedUpSkills, a free-to-use portal to help individuals who have lost their jobs  find new employment and training opportunities in their local area. 

Accessed via and more than a jobs board, it aims to provide a resource to access real-time vacancies, training courses, and apprenticeships across the region, as well as opportunities throughout the UK. It will also provide individuals with insights into the growing industries within their area, identify the skills and training most in demand in communities, and information and signposting towards industries where there is particular demand and important regional sectors. The local aspect is key so there are 10 implementations of SignedUpSkills covering specific regions in the North. The SignedUpSkills portal is already live in Hertfordshire, Thames Valley Berkshire and Thurrock. 

PDMS acted quickly when the pandemic hit the UK, drawing on its work around the development of platforms to enable data sharing among trusted participants, to create solutions (within hours in some cases) for clients to meet emerging needs. These included early projects to provide local information and job vacancies. The work PDMS is doing is a tangible manifestation of its commitment to deliver practical solutions that meet identifiable needs rather than follow technology fashion.

Posted by: Angela Eager

Tags: software   itservices   covid-19   Techgoodness  

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Tuesday 27 October 2020

CGI drives RAC product innovation

CGICGI has introduced its insurance rating engine software Ratabase into the RAC allowing the firm to offer brokers the ability to insure mixed fleets of private and commercial vehicles for the first time.

This co-innovation project has enabled the RAC to become the first breakdown insurer to offer real time fleet and specialist vehicle breakdown insurance using multiple rating factors allowing RAC Brokers to provide more accurate breakdown products specific to customer requirements.

RAC has been a long-term client for CGI whose Ratabase software now allows the breakdown insurer to provide Brokers with a complete range of vehicle types and cover levels from mopeds to the largest HGV all under one single policy.

Not only does this look like a great example of co-innovation between client and service provider, but the project was delivered under lockdown, proving that innovation is “alive and kicking” in an era of remote working and virtual teams.

Posted by: Marc Hardwick

Tags: software   insurance   innovation  

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Tuesday 27 October 2020

Civica to deliver Education Scotland’s digital transformation

CivicaCivica has expanded its education footprint north of the border, “getting the nod” to be Education Scotland’s digital transformation partner.

Civica has already been helping Education Scotland with the first phase of its transformation all delivered remotely during COVID-19. Civica’s work now moves to embedding a more user centric approach delivering a range of new digital tools and services and “baking in” a service design ethos that will cover school inspections, professional learning for teachers and practitioners, and employability and skills training.

Education Scotland is the Scottish Government’s agency responsible for quality and improvement in Scottish education. Its employs 350 people working alongside teachers and was looking for a partner to provide digital expertise and access to specialist resources under one agreement, alongside advice on service design and architecture.

Given the massive challenges faced by education in light of the current pandemic, digital offerings and support for individual teachers and practitioners, schools and local authorities has never been more important. It’s another good win for Civica which has landed a number of deals since the start of Covid-19 (see here and work back), with yet another client placing their digital futures in its hands. 

The new partnership also includes an innovation fund where Education Scotland will partner with Civica’s NorthStar innovation lab on things such as apps, data, automation and other new technologies.

Posted by: Marc Hardwick

Tags: education   scotland   Civica  

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Tuesday 27 October 2020

Angels sharpen visual acuity of Occuity’s eye scanner

logoBack in June I wrote about Epipole, a Scottish medtech start-up that has developed a portable retina scanner that fits pretty much in the palm of your hand (see Scotland’s visionary start-up Epipole raises £1.5m).

Reading-based Occuity has independently developed a similar device which it hopes can go beyond detecting eye disease to eventually screen for major chronic health conditions such as diabetes and even Alzheimer’s.

picFounded in 2019, Occuity has raised over £1m through the Angel Investment Network. Occuity had previously raised grant funding from Innovate UK. The funding will be used to finalise the production version of its prototype handheld pachymeter (see pic) ahead of clinical trials early next year.

More so now, non-contact medical diagnostic devices – particularly portable ones (and also see Oxford Nanopore’s LamPORE accelerates COVID-19 testing) – will play an increasingly critical role in global healthcare. It’s fantastic to see that UK tech companies are leading the way.

Posted by: Anthony Miller

Tags: funding   startup   medtech   healthtech  

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Tuesday 27 October 2020

SAP shares crash 22%

SAPSAP shares crashed 22% yesterday – according to Bloomberg the biggest one day fall since their IPO in 1988. As our Angela Eager reported yesterday – See Notes of concern in SAP Q3 -  SAP not only reported a 4% reduction in revenues but warned that C-19 was adversely affecting spend at its large enterprise clients. Crucially SAP seemed to infer this applied to its cloud revenues as well as on premise.

This really spooked the market as rivals and Workday had both reported excellent pipelines and seemed to infer that SAP was losing out to the ‘pure play’ cloud providers. See Plenty of ‘first’ in Salesforce’s Q2. Indeed Marc Benioff in a Bloomberg TV interview, rejected any read-across from SAP to his company. ‘They [SAP] have not executed the cloud opportunity well. SAP’s troubles, I think, are unique to them’.  Given that Salesforce recorded a 29% increase in quarterly revenues compared to a 4% decline for SAP, Benioff does have some justification that his ‘market share continues to grow’!

We’ve said many times that C-19 has resulted in ‘Six years digital transformation in six months’. Clearly, ‘transformation’ is AWAY from on-premise TO cloud which just must benefit the pure-play cloud players.

Worth also noting that Salesforce shares fell 3.4%. But this was in part due to a wider sell off which saw European tech shares fall 7%. However NASDAQ ended down just 1.7%.

Posted by: Richard Holway

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Tuesday 27 October 2020

ECSC Group wins MDR contracts

ECSC Group wins MDR contractsTwo new customers for its managed detection and response (MDR) service will contribute around £580k to ECSC Group’s revenue over the next three years.

Both customers were existing clients and indicate ECSC’s prowess in upselling MDR on top of its testing, standards and certification business amidst strong demand for managed security services from UK organisations. One, a national builder’s merchant has been an existing ECSC Assurance customer for the last ten months, while the other – one of the UK’s major rail companies – is a long standing managed security service (MSS) client.

The combined value of the deals currently represent over 20% of the company’s MDR order book and will see ECSC deliver round the clock cyber security monitoring, detection and response from security operations centres (SoCs) based in the UK and Australia.

The contract wins are especially good news after ECSC Group saw its MDR revenue flatline in the first six months of the year. The introduction of the artificial intelligence (AI) powered Nebular Cloud cyber security breach detection service in May appears to have reanimated sales however.

Posted by: Martin Courtney

Tags: contracts   MDR  

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Tuesday 27 October 2020

Remote Services: See what our clients are saying about our offerings during COVID-19....

''We invited Georgina from TMV to present to our UK members via a Webcast to talk about the current market situation for our industry.  We were very pleased with the attendance, interaction through questions asked online and overall feedback we received from across our members.  Definitely an approach we will continue to use in the future and with the added bonus of anyone who missed it can replay the session at a time of their choosing''.


Having the ability to work virtually, or remotely, is quickly becoming the ‘norm’ and we are keen to help support your evolving ways of working as we respond to the environment around us.

TechMarketView’s team of experienced analysts have been helping organisations understand what’s really going on in the UK tech sector for over 20 years and our analysts are continuing to undertake our full range of engagements to support your business at this time.

We can offer the following remote services: 

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Our analysts can bring their expertise and market knowledge to feed into your business planning and strategy sessions via tele- or video-conference.

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Our experienced analyst team bring expertise direct to your boardroom/living room/kitchen/office!

Book one of our analyst team to host, or join, a panel for your company webinars, townhalls and team meetings.

Adding the human element to your virtual business activities will play an important role in driving business success whilst offering valuable and much needed personal interaction.For further information about the different ways to engage with us, please contact our Client Services team who will be happy to help.

Posted by: HotViews Editor

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Monday 26 October 2020

Oracle expands UK private cloud footprint

Oracle expands UK private cloud footprintOracle’s latest dual-region government cloud offers private cloud facilities exclusively for UK government customers while significantly expanding its hosting capacity in the country. It enables public sector organisations to spread cloud services across multiple UK locations to enhance disaster recovery polices and meet data sovereignty rules set by the National Cyber Security Centre (NCSC). Another facility for private sector customers is also planned for Newport in Wales.

The move to pull in more public sector customers builds on the UK government cloud region already used for several years by government bodies including the Home Office, NHS Business Services Authority, Lambeth Borough Council and Croydon Council. Some organisations certainly continue to see dedicated and local private clouds as the best way to address concerns over the security of sensitive data and applications which might otherwise be stored in public cloud environments as they forge ahead with on- to off-premise workload migration strategies.

We think secure private cloud provision could therefore be Oracle’s best chance of competing with larger super scale cloud rivals, including Amazon Web Services (AWS), Microsoft and Google, and help grow Oracle's much smaller infrastructure as a service (IaaS) revenue which flatlined in the first quarter.

The new UK regions are just two of 20 earmarked to become operational in coming months, starting with Switzerland in September and Dubai earlier this month. More are planned for Brazil, Saudi Arabia, Italy, Sweden, France, Chile, Singapore, South Africa and Israel – Oracle plans to have a total of 36 cloud regions in operation by July 2021, two for almost every country where it operates. The majority will be open to commercial contracts but some will be reserved exclusively for regional government and US military intelligence workloads.

While the region numbers still lag behind the likes of its super scale rivals they significantly increase Oracle’s own private cloud hosting capacity – headroom which the company will need if it is to successfully manage increasing demand for cloud infrastructure and services amongst UK organisations like Ocado (see our UK Infrastructure Operations Market Trends and Forecasts report here).

Posted by: Martin Courtney

Tags: iaas   privatecloud   DisasterRecovery   datasovereignty  

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Monday 26 October 2020

Notes of concern in SAP Q3

SAP logoWith an official publication date of Sunday 25 October, SAP quietly released Q320 results around 12 hours earlier than expected. There were some notes of concern as performance reflected deeper than expected C-19 impact and slower recovery. SAP had previously assumed demand would recover during Q3 and Q4 but it hasn’t risen to the levels expected and given rising infections and new lockdowns, the company is now anticipating muted market recovery through H1 2021.

Accordingly, it has reduced FY20 outlook, slimming down revenue and operating profit. It has also reviewed its 2023 ambition and pushed revised goals out to 2025. Tellingly, SAP believes C-19 will delay the achievement of non-IFRS cloud revenue, total revenue and operating profit, by 1 to 2 years but it does still see cloud acceleration and is looking for cloud revenue of €22bn by 2025 on revenue of €36bn.

Given the circumstances, Q3 (to 30 September 2020) was probably as good as could be expected but revenue was down 4% to €6.5bn and operating profit dropped 12% to €1.5bn. 11% growth in cloud revenue to €1.98bn was not spectacular (low transactions from travel-related Concur were partly to blame) and at the same time licence revenue fell 23% to €0.71bn. 

SAP is attracting customers - 45% of the 500 Q3 S/4HANA sign ups were net new - but overall SAP is in the grip of a customer spending freeze. And implementations are dragging – just 8,100 of c.15,100 S/4HANA customers have live implementation. SAP’s challenge is still persuading customers to upgrade and provide sufficient proof points of the business value. Add the effect of C-19 and it has a lot of work ahead. However, it does have a large customer base to appeal to and with the forthcoming Qualtrics IPO and recent CX Emarsys acquisition it is making operational changes to adapt its offerings, something we expect hear more about over the coming months. 

Posted by: Angela Eager

Tags: results   cloud   software  

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Monday 26 October 2020

‘Not Quite Departed’ Hexaware expecting ‘sustained growth’

logoIt seems that Baring Private Equity Asia’s buyout of BSE-listed, Mumbai-based mid-tier offshore services firm Hexaware last month (see Hexaware to join (Indian) ‘Dearly Departed’) left some residual public market investors (just under 8% of the stock) which is I suppose why they are still publishing full financial results.

Like peers LTI, Mindtree, Mphasis and Coforge, Hexaware reversed the prior quarter’s revenue decline (see Revenue decline slows at Hexaware) with headline revenues for FQ3 (to 30th September – one of the very few on a calendar FY) increasing by 1.7% yoy to $214.1m, nearly 3% higher than in FQ2. Operating margins also tweaked up a bit qoq to 13.9% - flat yoy.

Management is even more optimistic than last quarter, now expecting “to hit a sustained phase of high growth.” However, I don’t think this means they expect the company to end the year anywhere near the 15-17% revenue growth they had hoped for at the beginning of 2020.

Posted by: Anthony Miller

Tags: offshore  

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Monday 26 October 2020

Backers passionate about HeySummit’s passion economy events

logoBackers are clearly spreading their bets on ‘virtual’ event management start-ups given the plethora of investments in recent months (eg see Backers keep the faith in event management start-up Iventis and Backers pop in lots more dosh to ‘virtual event’ platform Hopin).

And here’s another one, Edinburgh-based HeySummit, which recently closed a $1m seed funding round led by Techstart Ventures with the participation of Active Capital and Ankur Nagpal (CEO and founder of Teachable).

Founded in 2018, HeySummit’s USP is its focus on what it describes as the ‘passion economy’ (no, not that one; they mean artists, yoga teachers et al).

HeySummit charges from $33 per month (I didn’t know Scotland had adopted the dollar) for 1 active ‘summit’ with up to 2k attendees, rising to $333 p.m. for 10 active ‘summits’ with up to 20k attendees. Custom plans start at $1,000 p.m. HeySummit also charges transaction fees of up to 5% which I assume applies to bookings paid for through the platform.

In my opinion, this all sounds a bit pricy for ‘passion economists’ but I suppose it all comes down to how great your passion really is.

Posted by: Anthony Miller

Tags: funding   startup  

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Monday 26 October 2020

Big week for Big Tech

FANMAGBig Tech’s quarterly results are usually spread out over a month. However, this time it is all in one week – indeed mostly on one day.

Microsoft is due tomorrow/Tuesday with Amazon, Apple, Alphabet/Google and Facebook on Thursday with Twitter and Spotify reporting then too.

NASDAQ is up 28% YTD with Amazon at the top of the leader-board with a 73% gain YTD. However, NASDAQ was off nearly 3% last week. Both Google and Facebook are heavily dependent on advertising revenues. How much has C-19 affected marketing budgets? This week we will find out. How much has that delay in the launch of the iPhone12 affected Apple’s Q4 sales?

One thing seems certain. Amazon continues to be the main beneficiary from the C-19 rush to online sales. With lockdowns back again, this can only be good news for Amazon. The competition between AWS and Microsoft’s Azure will also be closely watched.

Unexpectedly bad results for a few of the Big Tech leaders could really cause mayhem in the markets – rippling far beyond these Big Tech companies.

Looks like a busy week ahead!

Posted by: Richard Holway

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Monday 26 October 2020

ULS gets new CEO

ULSULS Technology, the AIM listed provider of online B2B platforms for the UK conveyancing and financial intermediary markets, confirmed this morning that it will be moving forward under a new CEO, Jesper With-Fogstrup who will take up the reins in early 2021.

Jesper With FogstrupULS remains a business very much in transition and saw revenue decline last year to £28.3m (FY 2019: £30m) with Brexit, a General Election and global pandemic all supressing transactions and dampening confidence in the businesses core markets.

Strategically, the company has been focusing on boosting the number of advisors using its conveyancing comparison platforms as well as investing in its product suite. At the beginning of the year it launched DigitalMove – a product designed to help drag the conveyancing process into the digital age via the use of a secure portal for all consumer and solicitor communication.

With-Fogstrup has clearly been hired for his 20+ years digital experience with the likes of HSBC where he was Global Head of Digital as a Channel and where he was COO.

ULS is heading in the right direction with its DigitalMove offer which could help shake up the conveyancing sector, long overdue some proper digital transformation. However, the fate of the company will be intertwined with the performance of the UK housing market – and how that plays out is anyone’s guess given recent rises in house prices at a time of global pandemic and rising unemployment.

Posted by: Marc Hardwick

Tags: appointment   PropTech  

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