Cora Systems projects huge revenue growth based on ‘revolutionary’ software
Carrick-on-Shannon project management software provider also taking on more staff
Cora Systems founder and chief executive Philip Martin says he expects group revenues to rise from about €4 million to at least €22 million by 2022
Leitrim-based technology company Cora Systems is forecasting a surge in revenues over the next four years on the back of a new project management software product it is launching this week.
The company, whose clients include An Post, Honeywell, Intel, Allergan, the NHS, Boston Scientific and the Health Service Executive, says it expects turnover “to grow four or fivefold” by 2022 based on the back of demand for its Cora PPM platform. Cora has spent €3 million developing the product.
Founded by husband and wife team Philip Martin and AnneMarie Burke in 1999, Cora plans to almost double headcount at the Carrick-on-Shannon headquartered company from 50 to 90 people to deal with anticipated growth in the business.
Mr Martin, the company’s chief executive, says he expects group revenues to rise from about €4 million to at least €22 million by 2022.
Cora’s platform provides organisations with the tools required to plan, prioritise, execute and evaluate project portfolios, thereby reducing issues around decision making, report generation, resource allocation, financial tracking and benefits management.
According to Mr Martin, the new solution gives executives the ability to view thousands of projects in one view, thereby allowing them to make important business decisions quickly. The new system, which can handle €110 billion worth of projects in one go, monitors costs and forecasts in real time and provides visual representations via graphs and charts. It also offers a geo-spatial view of projects using GIS mapping.
“What we’re doing is an absolute game-changer because no-one else is doing anything remotely as sophisticated as we are. We’ve streamlined things to such a degree that what could take organisations weeks or months to do, such as generating reports, can now be done in a couple of days,” Mr Martin added.
The company has bootstrapped up to now, outside of some support from Enterprise Ireland. However, Mr Martin said it may look for external funding to help it expand in the US and Britain.