VAR Inoapps is escalating its global reach after launching in Singapore in the last few months, accelerating its US expansion as it aims for 200 per cent growth in the US in 12 months.
Aberdeen-based Inoapps partners exclusively with Oracle, focusing mainly on the vendor's cloud applications. It also sells Oracle's on-premise solutions, managed services and licence resell audits, across engineering, oil and gas and professional services verticals.
In the financial year ending 31 July 2015 the VAR saw net profit fall from £1.2m to £900,000, on revenues which rose 30.7 per cent to £22m. It saw a £10m investment from the Business Growth Fund (BGF) in September 2013.
Inoapp's CEO Andy Bird said the hope is that the growing prevalance of cloud in the UK will propel the growth of the company through the next two years. He hopes this will grow its UK business by 50 per cent in the next two years, but there are no immediate plans to expand in the UK as it focuses on its recent launch in the US.
"Cloud platforms are becoming more proven in the marketplace. We feel the move is already accelerating really fast from on-premise to cloud. We think that is going to accelerate significantly over the coming 12 to 18 months in the UK [and] we are very much at the forefront of that," he said.
"We have the best transformation skills in delivering the products. We should be able to capitalise on that and make quite significant growth with our experience and reference-ability."
Bird said that the VAR has been in the US for just over a year and is still in the early investment stage. He added that with the cloud boom in the US as well he hopes to have revenues of $20m (£15.4m) across the US in the next two to three years.
"We have started in central US," he explained. "We will be focusing on our offices there this year. Then we will start pushing out to the coasts next year, creating more offices as we go."
The VAR currently has its US headquarters in Houston, with offices in Dallas, Denver, Chicago, Atlanta and Austin.
Simon Hill, head of UK and Ireland alliances and channels at Oracle, said that Inoapps has been a partner with the vendor for over 10 years.
"Inoapps are a 100 per cent pure Oracle partner. They are at the highest grade you can achieve in our partner programme. They have just won the global award for Oracle excellence for SaaS, which is a phenomenal achievement," he said.
"They truly are expanding out globally. They have demonstrated a very successful and strong repeatable model in the UK market and they are looking to replicate that out to the US market and the Far East market. Based on the verticals they are targeting, that is certainly a repeatable target that they can take across borders."
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