In Touch Networks has once again solidified its position as a leader in the tech industry, being recognised as the fastest-growing technology business in the North West for the second consecutive year. The accolade comes from Deloitte’s esteemed UK Technology Fast 50 rankings for 2017, reflecting the company’s remarkable growth and industry impact.
This win underscores the company’s technological advancements and its commitment to revolutionising the recruitment sector. In Touch Networks, headquartered in Manchester, has seen a staggering 1,572% growth over the past four years, rising 21 places to secure the 18th spot in the overall UK rankings.
A Remarkable Achievement
In Touch Networks’ recognition as the fastest-growing tech company in the North West for the second year is a testament to its innovative approach and consistent performance. The Deloitte UK Technology Fast 50 awards, which celebrate their twentieth year, evaluate companies based on revenue growth over the past four years, and In Touch Networks has excelled notably.
The company’s significant achievement is highlighted by its impressive 1,572% growth, which is a clear indicator of its robust business model and effective strategies. This upward trajectory has not only earned it a higher rank but has also solidified its reputation within the tech industry.
Key Factors Behind the Growth
One of the pivotal factors contributing to In Touch Networks’ success is its state-of-the-art technology that enhances the recruitment process for non-executive directors, consultants, and finance directors. This technology-driven approach has resulted in a substantial increase in the company’s membership, which now stands at 220,000, a significant rise from 26,000 members a year ago.
CEO Matthew Roberts attributes this success to the company’s ability to seize market opportunities, particularly in the US, where trial marketing efforts have been well-received. The company’s strategy of maintaining simplicity despite growth has also been crucial in its continued success.
Market Expansion and Future Prospects
In Touch Networks has set its sights on further market expansion, particularly in the US, which presents a substantial growth opportunity. The company’s initial trials in this market have yielded promising results, suggesting a bright future ahead.
Despite this international focus, the company remains committed to tapping into the potential within the UK, where it currently operates 17 networks in various stages of development. This dual approach ensures a balanced and comprehensive growth strategy.
Industry Recognition and Impact
Claire Jolly, head of TMT at Deloitte in the North West, has praised the company for its continued market disruption and impressive growth. She noted that even with its rapid expansion, In Touch Networks has managed to maintain a high standard of service and innovation.
The recognition from Deloitte not only highlights In Touch Networks’ achievements but also shines a light on the North West’s burgeoning tech scene. The region continues to prove itself as a significant player in the UK’s technology landscape.
Financial Growth and Employment
Overall, the fastest-growing technology companies in the UK, including In Touch Networks, generated approximately £1 billion in total annual revenues for the year 2016/17. This growth is indicative of the sector’s health and its vital role in the economy.
In addition to impressive revenue figures, these companies, collectively, employ more than 9,000 people, with 1,800 of these roles dedicated to research and development, underscoring the sector’s commitment to innovation and job creation.
Leadership and Strategic Vision
Matthew Roberts, CEO of In Touch Networks, remains optimistic about the company’s future, emphasising the importance of simplicity in business operations. “We’ve got an amazing business, but the secret to successful growth is keeping things as simple as possible,” he stated, highlighting a key tenet of the company’s strategy.
Roberts also pointed out the potential that still lies untapped within the UK market, suggesting that while international expansion is on the horizon, there is still significant room for growth domestically.
A Promising Future in Tech
In Touch Networks’ trajectory over the past few years exemplifies what is possible with a combination of innovation, strategic planning, and market understanding. With its ongoing efforts to disrupt the recruitment sector and expand its market reach, the company is poised for continued success and industry influence.
In Touch Networks’ accolade in Deloitte’s 2017 UK Technology Fast 50 for the second consecutive year signifies not only its current success but also its potential for future growth. The company’s commitment to innovation, strategic market expansion, and maintaining simplicity in its operations underscores its ability to sustain and enhance its growth trajectory.
As In Touch Networks continues to evolve and set new benchmarks within the tech industry, it stands as a beacon of growth and innovation, inspiring other technology firms in the North West and beyond.