DocuWare Revenue Increases14 Sep, 2004
DocuWare Revenue Increases
Integrated Document Management (IDM) specialist DocuWare has been able to increase business in the second quarter, based on a trend towards larger installations. Turnover in Germany increased by 22 percent for the first half of this year compared to the same period in 2003.
DocuWare Group has been on the road to success for five years now. Backed by an enormous market potential – a representative industry survey in 2003 showed that 13 percent of German enterprises are planning on introducing a document management system to prepare their companies for the future. IDM specialist DocuWare has fortified its investment in Research & Development, and the Sales and Marketing departments have been amplified since the beginning of this year.
With € 3.2 million, the overall turnover exceeded results from the first half year 2003 by four percent, after adjusting for currency fluctuations this number is 7.3 percent. The German territory saw a turnover of € 1.7 million, an increase of 22 percent, while the U.S. market could enhance this by 3.4 percent with a turnover of € 1.5 million. In global terms, the software company generated a project turnover of approximately € 15 million.
A total of 337 new customers were acquired (previous year: 365) during the first half of the year. The growth in turnover combined with the decrease in new installations by 8 per cent reflects a trend towards large-scale installations. The list of well-known companies that decided in favor of a DocuWare solution in the first half of the year includes the Bahamas Court of Appeal (Bahamas), Cherry (Germany), Illinois Senate (U.S.), Kapsch (Austria), Stanniol (Austria), Suzuki Motors (Spain), Unilever (U.S.) and Volkswagen de México (Mexico).
DocuWare 4.6a, an enhanced version of the current program with extended records management functionalities, will be distributed in the third quarter of 2004. And furthermore, the IDM pioneer is already propelling the development of the next DocuWare generation.