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LONDON (Alliance News) - Dillistone Group PLC Monday said the company's systems division experienced an "exceptionally good month" during May after reporting increases in new system sales and client retention rates but said it will not "materially change" the company's overall full year results.
Dillistone is a global provider of software and services to recruitment firms that assist with client management and within other areas such as training, with Dillistone Systems supplying software to executive search firms and to in-house executive search and sourcing teams.
"May 2016 saw what the directors believe to be the highest level of implementations of licences in the 33 year history of the business with over 800 upgraded and new licences installed on the FileFinder Anywhere platform. This is a testament to how well the new FileFinder Anywhere suite is being received by both new and existing clients," the company said.
FileFinder Anywhere is a browser-based, cloud-hosted web application that can be deployed in a variety of ways and is used by customers to better manage their executive search process.
Dillistone said the systems division has seen a rise in new system sales and higher client retention rates since FileFinder Anywhere was launched back in September 2014. Client retention has increased because many have upgraded from the older versions of FileFinder to the new version.
The company said, however, that the amount of new business sales also accelerated within the division during the first quarter of 2016.
The majority of the licences covering FileFinder Anywhere are sold on a software-as-a-service (SaaS) basis, giving the company better visibility and a more dependable revenue stream, however, that also means short-term revenue has been reduced as revenue is recognised over a longer term.
"We announced a month ago that our Dillistone Systems division had enjoyed an exceptional start to the year, with a 70% increase in our new business order book, as compared to the same period in the previous year," said Chief Executive Jason Starr.
"I'm delighted to say that our implementation teams are working - literally - around the clock to deliver on this growing demand and May 2016 saw us move over 800 users onto the FileFinder Anywhere platform. This is certainly one of the best months in the history of the division," he added.
Unfortunately, the positive trend that the system division is experiencing will not have a significant impact on the group's overall results, but does show positive momentum as the company said more clients are choosing yo upgrade to FileFinder Anywhere rather than its "old fashioned, Windows-based, competitors".
"As a result, whilst this announcement demonstrates a considerable vote of confidence in the new platform it will not materially change the financial out-turn for the current financial year," said Dillistone.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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