A Welsh technology firm plans to triple its workforce by 2019 thanks to a six figure investment.
Cwmbran-based Hudman Solutions offers businesses in the manufacturing sector access to affordable, industry-leading business management and accountancy software, and has received £150k from Finance Wales’s Technology Seed Fund to facilitate growth over the next two years.
A further £10k has been invested in the company by directors Paul Driscoll, David James and Ben Stephens.
The new appointments will add to their existing team of software developers and sales consultants, with further additions to the sales and marketing team planned for later in the year.
Paul Driscoll, commercial director, started the company in 2005. He said: “This significant investment from Finance Wales has allowed us to bolster our team and means we can strategically plot our growth over the next two years, as well as adding a further 18 employees by 2019.
“Our immediate priority is to promote our award winning Enterprise Resource Planning software as an affordable alternative to existing software packages that have traditionally cost businesses tens of thousands of pounds every year. We can offer the same levels of service at a fraction of the cost, making our product an ideal alternative for small to medium sized businesses who want to work smarter and more effectively.”
The cloud-based software system offers businesses a range of features, from accounting and payroll to sales, stock and operations management, supply chain management and financial forecasting for a single monthly cost.
The latest version of the software includes a number of ‘editions’ which cater for manufacturing, engineering and construction industries as well as continuing to support the service sector.
The software is also accessible from any internet enabled device and also includes full-time support and ongoing customisation as part of the monthly fee option offered by the company.
Dr Philip Barnes, the Finance Wales investment executive who structured the deal said: “Hudman have developed an impressive client base for their Software-as-a-Service products and we are pleased to offer the investment required to support their continued growth.
Their cloud software and ongoing customer support is revolutionising the way businesses think about their software systems. They are able to offer a cost-effective alternative to systems that may previously have cost hundreds of thousands of pounds up front.”
Hudman Solutions is based at the Springboard Business Innovation Centre in Cwmbran, a joint venture between Torfaen County Borough Council and Welsh Government to support technology companies with high-quality accommodation and access to business support.
Councillor Lewis Jones, the executive member for regeneration at Torfaen council, said: “Hudman has gone from strength to strength since they joined us at Springboard.
“I am delighted that the support they have received here in Torfaen has enabled them to grow, and now we are seeing the long term benefits with much needed quality jobs being created for local people.”