39. Version 1

Revenue: £107.5m

Version 1 Software UK Ltd continues to make its mark as a leading IT consultancy, delivering digital, data, cloud and Oracle transformation services to both public and private sector organisations. With net assets rising to £37.7m in FY23 (2022: £36.6m), the business maintained financial resilience despite a drop in profit to £1m (2022: £2.7m), reflecting a challenging macroeconomic climate.

The company’s consultancy-led approach is built around its ‘Strength in Balance’ model, which centres on customer success, empowered people, and strong operational governance. That includes regular customer satisfaction and employee engagement surveys across all accounts and teams, and a rolling four-month commercial forecast to stay agile in uncertain times.

Version 1’s services span two major operating groups. Its Digital, Data and Cloud division delivers full-lifecycle digital application services and cloud transformations, underpinned by strong partnerships with the top three hyperscalers. The business continues to be a key digital services partner to central government departments and major private enterprises. On the data side, its analytics capabilities are helping clients drive smarter decisions and unlock the value of their information estates.

Meanwhile, the Oracle Applications practice supports customers across both Oracle Cloud Applications and Oracle Applications Unlimited, offering modernisation, upgrades, and managed services. This dual offering has positioned Version 1 as a key player in future-proofing mission-critical ERP and HCM platforms for enterprise clients.

Risks such as economic downturn, talent retention, and cyber security are actively monitored, while the company’s s172 commitments underscore its focus on long-term decision making, high standards of business conduct, and strong relationships with customers, suppliers and staff.

With a five-year strategic plan in place and a growing portfolio of digital transformation projects across the UK, Version 1 is well-positioned to expand its impact across key sectors in 2024 and beyond.