According to its latest trading update, workforce and compliance optimisation supplier Allocate Software will meet H1 expectations, with all bar one product line either meeting or exceeding expectations for the period to November 30 2013, resulting in revenue, recurring revenue and pipeline ahead of the H1 period last year.
Healthroster continues to attract new business with four new customers during the period, including three NHS Trusts. It is a testament to the strength of the product and Allocate’s ability to execute that two of the wins were competitor displacements. With a 100% renewal rate too, there is real strength in this business segment. Allocate Cloud is also meeting growth targets to double the number of customers. However, the PatientFlow and Emergency Department business is not growing as expected, with long decision cycles mitigating against high levels of interest.
Full results will be released in January. As the company is undergoing a transition to recurring revenue and the cloud and has been rationalising and relocating offices, the headline numbers may not look stunning (as was the case for the full year – see here) but Allocate is performing solidly (even in the seasonally slower H1) and has the foundations in place for growth.