6th Sep 2013 08:56
LONDON (Alliance News) - Synety Group PLC said Friday it had begun to see market demand and potential for its phone call recording and tracking product CloudCall, as it increased its customer base and recurring revenue over the past two months.
In the two months ended August 31 it had increased its customer base by 18% to 200, and users by 27% to 1,691. Synety said that it had increased its annualised recurring revenue to GBP490,324 from GBP376,000 an increase of 30%.
There has been little competition from companies offering a similar product set, Synety said, and it expected to see customer relationship management companies continuing to integrate its CloudCall service. It said that expects to see continued increases in sales activity as its existing partner relationships mature and new partners integrate.
"There is every indication, as I have reported before, that we have a product offering that is capable of extensive rollout," said Chief Executive Simon Cleaver in a statement released ahead of Synety's general meeting Friday, "consequently we have considerable confidence in both the short and longer term prospects of the company."
The cloud-based telephony company's shares were trading up 6.2% at 152.45 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllN
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