Quantix grows as firms outsource IT20 February 2009 A NOTTS IT firm is set for further expansion as more businesses decide to save money by outsourcing their technical services.
Quantix saw turnover break the £2m barrier in the last three months of 2008 alone, with quarterly profits up 46% on the same period in the previous year
Quantix maintains software and systems for a client base which takes in a range of private sector and public sector clients.
They include the likes of the General Teaching Council in Birmingham, transport giants National Express and First Group and the London-based financial services firm RAB Capital.
Quantix employs 48 people, with its headquarters at Chetwynd Business Park in Chilwell and another office in London.
Mr Salmon says he expects to take on up to another ten people in the coming year.
Quantix was originally part of the larger Lynx group but was bought out by its management in a deal backed by the venture capital firm Isis and Lloyds bank.
"We've achieved a great deal with their backing," said Mr Salmon.
"The buy-out took place in 2007 and in that year our turnover was £5m and our profit £1m. In the last financial year our turnover was £8.25m and our profit £1.5m.
"That's because we've invested in the company; we've grown the numbers of people and we are continuing to grow the business."
Quantix is picking up business in the recession from companies trying to save money on functions like IT, so they can protect core activities.
Said Mr Salmon: "I don't think we're necessarily growing above trend during recession, because in good times companies tend to invest in new projects which need new software and the associated support.
"But companies whose systems have, until now, been looked after by their own people are now coming to us to see whether we can do it."
Quantix looks after large-scale "enterprise" systems based on Oracle and Microsoft software.
Mr Salmon said: "The beauty of a business like ours is that you don't need to load it with costs as it expands. We have used technology to automate a lot of the things that we did in the past - the quarterly health checks we do on clients' systems are all automated.
He added: "Our pipeline for new business is full.
"We've had a great January and it's looking like we'll have a great February too.
"It will be quieter during the summer because it always is in this business, but I see things carrying on.
"We have doubled our sales force over the last 12 months and the benefits of that are starting to kick in."