BIM and construction software supplier, Viewpoint, has laid the groundwork for future growth after reporting record financial results.
Boosted by the British Government’s £500bn infrastructure pipeline and the introduction of new building standards, Viewpoint saw turnover grow by almost a third last year.
The Newcastle-based software company has also benefitted from new rules introduced in April 2016, which means that all centrally procured public projects must be BIM level 2 compliant.
Central government is responsible for around 40% of all commissioned construction work across Britain and making BIM a legal requirement means infrastructure can be delivered more efficiently. The government’s UK Construction Strategy has advocated BIM as a key part of achieving the 20% saving in procurement costs they are seeking to achieve.
Viewpoint saw sales grow 30% year-on-year from £11.5m in 2015 to £15.1m in 2016. Over the same time period, the company recorded £2.5m profit.
Viewpoint provides construction collaboration software which allows clients, designers, consultants, architects, contractors and sub-contractors to share project data so that all project partners are working to the same set of designs and have access to all relevant project information at all times. It has more than 450,000 users in 170 different countries worldwide.
Steve Spark, vice president of business development at Viewpoint, said: “In 2016 Viewpoint reported record results in terms of our sales and new users added, and we are on course to beat those records again in 2017.
“What’s particularly heartening is that not only are we winning new customers and retaining 99% of our existing customers; but our customers are really engaging with and benefitting from our products, which is evidenced by the 229% increase in the amount of data we process.
“Viewpoint has the capacity to transform infrastructure delivery by increasing collaboration between project partners and streamlining reporting and information sharing.”
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement