Allocate Software
Allocate Software is the leading workforce optimisation software provider for global organisations with large, multi-skilled workforces. With over 18 years’ experience, they ensure customers can match operational demands with workforce supply. Continually developing workforce optimisation software for other industries, they specialise in resource scheduling solutions for healthcare, defence, maritime, offshore engineering and cruise and ferry sectors.
Allocate Software hits Q3 goals with new client wins and international expansion
Allocate Software (AIM: ALL) said it has advanced against all strategic objectives during the third quarter, highlighting its expansion into Australia and New Zealand and stronger presence in the Nordic region following the acquisition of Time Care AB.
The company has been busy winning new contracts, landing its first e-Rostering contract award under LPP and eight NHS contracts for MAPS Healthroster to take the total NHS e-Rostering customer base to 105 trusts, of which 69 acute trusts, 21 mental health trusts and 15 primary care trusts. This included the first Healthcare contract win in New Zealand for MAPS Healthroster and the first Healthcare contract win in Australia for MESaLS as well as a major services contract awarded by NATO to deliver new mission-important system capabilities for Allocate's existing Special Forces MAPS deployment.
Other new client wins for MAPS included Bexley NHS Care Trust Burton Hospitals NHS Foundation Trust, Cornwall Partnership MHT, Homerton University Hospital NHS Foundation Trust, Leeds Teaching Hospitals NHS Trust, South West Yorkshire Mental Health NHS Trust, Worcestershire Acute Hospitals NHS Trust and Worcestershire Primary Care Trust. The wins for e-Rostering included East Cheshire NHS Trust, Mid Yorkshire Hospitals NHS Trust, Shrewsbury and Telford Hospital NHS Trust and Leeds Teaching Hospitals NHS Trust.
The strong performance helped the company win the rank of the No 1 e-Rostering and Temporary Staffing Solutions Provider by the London Procurement Programme on its new Workforce Optimisation Framework, aimed at helping trusts reduce the lengthy procurement process for rostering software.
"This is another strong quarter with solid execution against our strategic objectives across all sectors. We continue to forge strong partnerships with NHS Trusts and our recent selection by the London Procurement Programme further demonstrates our continuing commitment to the NHS in the UK, where our applications are now the most commonly used solutions for e-Rostering and Temporary staff management. Given the response of NHS Trusts to our two most recent modules, I hope that over time the same will be said of e-Rostering for Doctors and e-Expenses,” said chief executive of Allocate Software Ian Bowles.
The Time Care acquisition was closed in December, paying £8.7 million for the company. Allocate expects the deal to help achieve its goal of driving organic growth at over 20% per annum and to move operating margins towards 20%, which broker Edison Investment Research said could drive the group’s value through £50 million, supported by a stock valuation of 100 pence per share.
Time Care AB has landed 17 new contracts during the quarter.
Shares in Allocate have performed very well during the quarter, climbing from 58 pence to the current value or 75 pence per share.
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Other Allocate Software news
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25/08/10 Allocate Software hires General Manager for Australia and New Zealand
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10/08/10 Edison Investment Research forecasts strong profit rise for Allocate Software
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05/08/10 Allocate Software on acquisition path, but nothing imminent
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04/08/10 Allocate Software reports fourth consecutive record FY performance
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18/06/10 Allocate Software: optimising health and other sectors
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10/06/10 Allocate Software wins 14 new contracts in Q4 and anticipates ‘better-than-expected’ FY figures
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06/05/10 Allocate Software expands SaaS offering with UK acquisition
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15/02/10 Edison says Allocate Software in ‘good health’, values stock at 100p
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29/01/10 Allocate Software reveal strong H1 results as Healthcare e-Rostering in the NHS drives growth
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27/01/10 Allocate Software selected by the London Procurement Programme for NHS workforce optimisation
