Technology consultancy Krome Technologies announces annual turnover of £11.2m, seeing a 40% growth rate in their third year of trading.
Founded in November 2009, Krome Technologies have continued to build on their strengths year on year; achieving £6.4million turnover in its first year of independent trading, followed by an increase of 24% growth in their second year to £7.9million. The target for the business was to achieve a steady annual growth rate of 25%, but with an exceptional third year of trading their 2012 financial year has delivered a phenomenal growth rate of 40% with figures of £11.2million.
2012 has been a successful year for Krome across the board; seeing the consultancy securing several new notable contracts, with both new and existing clients. With their ever expanding client base, the company has recently signed a lease on larger premises in Manchester; expanding their presence in the north of the country and improving on service levels to their northern client base, this office will be fully operational by the end of the calendar year.
Another contributing factor for the growth in 2012 has been their strong focus on staff advancements, working on improving the company from the inside out; new employees have been added to the well-structured organisation and investment has been made in performance coaching and skill upgrading for both their sales and technical staff, offering employees advanced training and maintaining up-to-date vendor accreditations. Additionally the company has recently embarked on a graduate training programme, employing four new graduates into the business, cementing the message that investment in people is a clear priority across the whole organisation.
Krome’s Managing Director, Rupert Mills comments “This year we have remained very focused on achieving our business targets, whilst continuing to improve upon service levels and performance. Following our success last year we initiated several new internal schemes, rewarding and investing in the people that have helped to grow our business and will further contribute to our growth in the years to come. We are committed to providing our clients the highest level of service and expertise possible, our financial growth this year confirms that we are continuing to achieve this.”
Throughout 2012 Krome have also been building on their vendor relationships, recently seeing them achieve HP Gold Partner status as of November 1st , this advancement in partner status was achieved by exceeding their HP performance targets in 2012, demonstrating 129% growth in HP server sales and 43% in HP storage revenue.
HP’s Enterprise Group Channel Manager, Paul Mclean commends Krome on their recent financial achievements; “As a relatively young organisation, in an increasingly tough and competitive market, Krome’s annual growth achievements are highly commendable. Krome have clearly put a lot of focus on growing their business throughout 2012, investing in training, securing further certifications and impressively increasing their level of business with HP. We are thrilled to have an ambitious, proactive organisation such as Krome aligned to us as a HP Gold Preferred Partner and look forward to working with them throughout 2013, providing any support we can to further cement their future growth and success.”
In addition to the HP Gold partner status recently achieved, Krome were also announced as a Dell Premier Partner back in February of this year, one of only a few companies to achieve this highest level of recognition.
“Dell’s Premier Partner tier honors our fast growing partners. These partners have strong Enterprise (Storage, Servers & Networking) capability and have invested significantly in our PartnerDirect program. We are delighted to have Krome as one of our Premier Partners and we are truly excited to be part of its hugely successful growth over the past 12 months”, said Bill O’Shea, Dell’s UK Commercial Channel Director. “We have a very strong relationship with Krome and we are fully aligned on a joint strategy going forward. Krome has embraced Dell’s Channel strategy in the UK and invested heavily in Dell with fantastic results, delivering triple digit growth in its Dell Server and Storage business over the past 12 months. Added to this, we get fantastic feedback from Krome’s customers in terms of their capability and customer service. We look forward to building on our success with Krome and we are very excited about our journey ahead”.
Channel relationships with distribution partners are equally as important to Krome; working closely with the key distributors financial teams and adhering to payment terms has ensured that credit facilities and financial support is available in order to support continued growth.
Keith Payne, Senior Credit Analyst at Westcoast comments “During the recent period of economic uncertainty, Krome Technologies continues to buck the trend and witness excellent growth. This is the result of their ability to build strong all round relationships of which Westcoast are pleased to be a part of. Krome’s business is not only retained but grown with their attention to detail and quality service levels provided to customers.”
As 2012 draws to a close, the company is keen to continue the momentum into 2013, maintaining their growth plan of 25% year on year; “2012 has been an exciting year for Krome, with two leading vendor accreditations announced, several new client wins and the development to our team all being a contributing factor to our financial growth this year; we aim to grow by at least 25% year on year, so we are now looking to the future and continuing this trend, with confidence that 2013 will be yet another solid year for Krome”, concludes Mills.