Converge TS, a specialist in cloud services for law firms, has announced a significant milestone. The company is projected to achieve 45% growth, reaching £5.7 million by the end of 2017, demonstrating robust performance.
This growth reflects an impressive 50% per annum average increase over five years. Positioned strategically, Converge TS aims for a £10 million revenue target by 2019, showcasing its forward-thinking approach in the competitive tech landscape.
Strategic Growth Trajectory
Converge TS is a cloud provider specialising in working with law firms, witnessing an impressive growth trajectory. The company is on track to achieve a 45 per cent growth, reaching £5.7 million by the end of 2017. This achievement marks an average annual growth of 50 per cent over the past five years. Such consistent growth underscores the robustness of its strategic plans.
The firm aims for a £10 million revenue milestone by 2019, reflecting its ambitious long-term growth objectives. Focusing on organic growth, Converge TS has been successful in attracting larger law firm clients across the UK. Among its notable clients are Langleys Solicitors, Stone King, and MW Solicitors, indicating its strong presence in the legal sector.
Client-Centric Approach
Nigel Wright, Managing Director of Converge TS, highlighted the company’s commitment to serving large and mid-tier law firms across the UK and Ireland. “We have a clear strategy focused on delivering hosted services,” he noted, emphasising the importance of understanding the complex data, compliance, and cyber requirements of law firms.
With an 80% recurring revenue rate and a remarkable 95% client retention rate, Converge TS showcases its client-centric approach with a focus on flexibility, security, and productivity. Wright further stated that their laser focus has led to a strong start for the year, confident in meeting the 2017 growth targets.
Expanding Horizons
Converge TS’s footprint is expanding with its recent establishment of an office in central London in 2017. Such strategic expansions support its growth trajectory by increasing accessibility to clients.
The company has also made strides in Northern Ireland, securing contracts with well-recognised firms such as Wilson Nesbitt Solicitors, demonstrating its capacity to cater to diverse regional legal markets.
The company’s expansion aligns with its strategic goal of becoming a major cloud solutions provider within the UK legal industry. Recent recognition in the Ward Hadaway Greater Manchester Fastest 50 list reinforces its status as a rapidly growing enterprise.
Recognition and Awards
Converge TS’s achievements have not gone unnoticed, as evidenced by its inclusion in the prestigious Greater Manchester Fastest 50 list. Achieving second place in its category, the company is recognised for its remarkable growth and strategic prowess.
Such accolades serve as a testament to the company’s dedication and hard-earned success within a competitive digital landscape.
Future Prospects
Looking forward, Converge TS anticipates continued growth driven by its strategic focus on the legal sector. By leveraging its expertise in delivering tailored cloud solutions, the company is poised to achieve its £10 million revenue target by 2019.
With the increasing demand for cloud solutions among law firms, Converge TS is well positioned to meet future challenges and opportunities. The company’s proactive approach to market trends and client needs is setting the stage for sustained growth.
As Converge TS continues on its growth trajectory, it solidifies its position as a leader in cloud solutions for the legal sector. The company’s strategic focus and commitment to client satisfaction promise sustained success.
With ambitious revenue targets and a dedicated approach, Converge TS is well-equipped to navigate future industry challenges and opportunities, staying ahead in the rapidly evolving cloud market.