PrecisionPoint gears up for accelerated growth with finalisation of secondary funding and appointment of David Eldridge as a new Non-Executive Director
As part of a dynamic growth programme to take advantage of market opportunities, PrecisionPoint Business Intelligence (BI) Software has finalised secondary funding financed by shareholders and appointed David Eldridge as a Non-Executive Director.
Founded in 2002, PrecisionPoint provides ‘out-of-the-box sophisticated decision critical Business Intelligence for users of Microsoft Dynamics NAV and AX. The company has tripled its customer base in the last two years and traction of a new subscription licensing model launched in Quarter 4 2011, has resulted in a series of major order wins in the first half of 2012.
David Eldridge brings a breadth of experience in software, analytics and marketing to the PrecisionPoint board. He is the joint founder and former Chief Executive Officer of Alterian and has invested personally in PrecisionPoint.
David commented: “PrecisionPoint has a clear and well defined target market with a specific need. Dynamics users need to be able to access business intelligence in their NAV and AX systems so they can make better decisions. At present, the vast majority does not have that capability which presents a tremendous opportunity.
“PrecisionPoint has a unique offering in this market place with a key differentiator: the software is easy to buy and to implement. They are in a perfect position to now storm ahead.”
Michael Evans, CEO PrecisionPoint added: “PrecisionPoint is in a strong position to take advantage of the market’ need for business intelligence software that provides analysis across the whole organization and that validates and reconciles the numbers with complete integrity.
“The secondary injection of funds and the appointment of David to the board represents a significant landmark in our development. The shareholders are encouraged by our growth to-date and by the traction of the new subscription business model that delivers a full managed on premise service for a monthly fee.”
PrecisionPoint is used by organisations in fourteen different countries.
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