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Monday 08 December 2014

LBB eTech energetically pursing growth in mortgage valuations

logoHomes across the UK need to be assessed for their energy efficiency whenever they are sold or let and since early 2013 energy suppliers are required to deliver energy efficiency measures to domestic customers. Consequently, there are armies of assessors visiting properties around the country to see what work is required and what grants can be provided. To support these assessors by providing location-aware data on-site and enabling reports to be prepared without additional re-work, Little British Battler eTech, has developed a cloud-based system running on iPads.

Solihull-based, 130-strong eTech’s systems are currently used by c.8000 assessors, and five of the six leading energy suppliers. Customers generally pay on a per assessment basis for the SaaS system and eTech has strictly maintained the standardisation of its core system to leverage scale benefits across its user base. eTech has also built significant expertise in the focused market of energy assessment, where it currently generates around 90% of its revenue.

lbbJim and David Driver, the CEO and CCO of eTech are now taking their disciplined approach into the mortgage valuation and residential surveying sectors, supplementing management with domain experts and building a system to enable chartered surveyors to access additional data and appropriate comparisons to produce more accurate valuations. This market offers substantial potential, particularly as large valuation firms look to renew their infrastructure and improve productivity.

With rapid growth in energy assessment volumes, eTech more than doubled revenue to nearly £6m in the year to March 2014, producing double-digit pre-tax margins. With the opportunity in mortgage valuations the company looks capable of continuing to deliver high rates of growth and profitability. The clear focus on specific opportunities, with domain expertise and a disciplined approach to the service portfolio looks like a winning formula for eTech.

Posted by: Peter Roe

Tags: cloud   mobility   lbb   bigdata  

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