Symatrix continues impressive growth trajectory

Record growth follows 42% increase in revenues in FY23 as Oracle partner bolsters expansion in UK and India.

  • Thursday, 9th May 2024 Posted 1 week ago in by Phil Alsop

Symatrix, a Manchester-based Oracle HCM, Payroll, ERP, SCM and OCI partner, has achieved an 80% growth in revenues for the financial year ending February 2024, surpassing its targets and delivering record growth for the company.

Symatrix’ rapid expansion follows a 42% revenue growth in FY23 and is underpinned by its continuous investment in talent. Over the past year, Symatrix recorded a 60% increase in headcount. The number of new hires is also expected to grow further over the next 12 months as the company remains focused on meeting the evolving needs of its expanding client base, which has grown by 20% during the past financial year.

Chris Brooks, Managing Director of Symatrix, commented on the company's growth trajectory, stating, "Our continued success is a result of our unwavering dedication to delivering excellence and nurturing talent. We've seen exceptional growth in both revenues, profits and team size, driven by significant wins and ongoing expansion in existing contracts. Our Net Promoter Score (NPS) of 56 places us in the top 10% of all companies in the UK and reflects the high level of satisfaction among our clients. Alongside this, our outstanding employee NPS score of 74 is testament to the investment we have made in building a supportive workplace where our staff feel engaged and motivated.

“Our ability to win both multi-year managed services contracts and implementations has also been key to our growth,” added Brooks, “meaning that we have solidity and a long-term pipeline taking us into next year and beyond.“

Moving forward, Symatrix remains committed to enhancing its service offerings and expanding its reach across multiple vertical sectors. The company's core focus areas, including central government, finance, higher education and retail, have been pivotal in driving its growth. Additionally, Symatrix is venturing into new markets, such as communications, media & utilities (CMU) and local government, where it can leverage expertise and experience gleaned from adjacent industry sectors.

In line with its strategic objectives, Symatrix continues to expand its team, especially in ERP (Enterprise Resource Planning) services, with plans to grow financials and procurement revenues to over 30% of its total revenues this year. This emphasis on ERP, alongside investments in Oracle Cloud Infrastructure (OCI) and other key pillars of the Oracle ecosystem such as Oracle HCM Now, positions Symatrix as a comprehensive Oracle solutions provider, catering to diverse client needs.

Added to all this, Symatrix is actively exploring growth opportunities internationally, with a focus on expanding its presence in India and other new markets. The company has achieved substantial growth in its Indian operations, with a 50% increase in headcount over the past year and projected continued growth across the region in the coming year, highlighting its commitment to global opportunities.

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