Repeat after me. Unicorns are NOT real. Unicorns are mythical creatures.
When Replicon announced its expansion into the EMEA market, we knew that we were in for some rapid growth. But even we were pleasantly surprised by how quickly our solutions are being snapped up by companies in the UK and other EMEA countries.
Since July 2013, our customer base has grown substantially in the region. We gained over 100 customers in the UK since then, taking us to over 610 customers in the UK today. In the EMEA, we added nearly 190 customers to reach a combined strength of nearly 1320 customers.
Revenue wise, our 2014 figures of ~$6.1 million in EMEA (~$3.7 million in the UK) represent healthy growth over 2013 revenues of ~$4.3 million in EMEA (~$2.5 million in the UK).
There are several reasons for our growing momentum:
We had our foot in the door: Considering we already had over 300 customers in EMEA by 2013, it’s not too shocking that British and European companies know who we are. In other words, we had mind share before we even tackled the challenge. Opening our UK office and focusing its efforts on meeting the needs of the EMEA marketplace helped persuade many companies to hop onto our bandwagon.
We have mobile covered: Companies seeking mobile and cloud-based technologies are attracted to Replicon due to the development of our latest platform. Mobile adoption among European companies has increased substantially in recent years. According to eMarketer, the tablet user base in the EU-5 (Germany, France, Spain, UK and Italy) will surpass 100 million by the end of 2014. IDC reports that the mobile workforce in the EMEA region will see a healthy compound annual growth rate (CAGR) of 5.6 percent, expanding to 244.6 million in 2015. Just like in the US, a fast growing number of Europeans are using their smartphones and tablets in the workplace—a trend we anticipated with our cloud and mobile apps.
We fit in well. One of the key industries that can benefit from Replicon’s mobile, cloud-based solutions is the Oil and Gas industry, which represents a large market in the UK. Consultants and engineering firms working in this industry rely on Replicon for time and attendance tracking and reporting, project costing, client billing, scheduling and other capabilities. Additionally, joint ventures with existing Replicon clients are resulting in additional deals.
We speak the language. With our latest platform, we’ve focused on localizing messaging and providing case studies to illustrate our penetration in EMEA. Consider our successes with companies such as Aon, Paul Smith, James Hay Partnership, Artifex Mundi, and British Gas to name a few. Even without translation, the value of our products is well understood by EMEA companies. Firms in the BPO, as well as joint ventures in the construction and engineering industry are choosing to use Replicon rather than using their existing systems, due to the ease and speed of rollout. Some of the largest construction firms in the EMEA region are adopting Replicon to manage their large and widely dispersed pool of blue collar workers.
Unlike some of our competitors who are new the region, Replicon has always been a global company. For example, Replicon offers support for pre-configured pay rules that cover most countries in Europe—making compliance easier. With customers all over Europe—Belgium, France, Germany, the Netherlands, Poland and others—we have had a good presence in the market before we even opened our UK office. Although it’s ramping up, this territory is certainly not unchartered.
Do we anticipate world domination? Not really. Improving employee productivity and eliminating inefficiencies across EMEA—and being the premier time tracking solution provider in the region—is a great start for us.