Successful Nottingham software house 360 Scheduling, is delighted to announce they have secured funding from its bankers NatWest under the Government backed Enterprise Finance Guarantee (EFG) scheme to allow them to develop a new revolutionary ‘cloud-based’ software that entirely removes the need for its customers to buy and operate computer systems of their own, slashing cost of ownership by a factor of 10 or more.
360 Scheduling is a software house based in Nottingham whose 360 Dynamic Scheduling Engine (DSE) enables field service organisations to dramatically increase their efficiency by optimising the scheduling of work to their teams of workers and technicians in real time. It allows them to track parts used and received by engineers, whilst keeping a record of van stock and knowing which parts are required for a job and where and when they can be picked up.
360’s DSE is very much a cutting edge product and its success has enabled the Strelley Hall based business which has contracts with clients in the US, France, Benelux, and Germany as well as the U.K. to achieve a Compound Annual Growth Rate (CAGR) exceeding 50% over the last 4 years.
Laurent Othacéhé, Managing Director of 360 Scheduling, has worked closely with his Business Manager, Simon Staniforth at NatWest, which has banked the business since it was founded in 2002, and has now acquired an additional funding under the Government backed EFG scheme. This new financing deal will enable the business to develop a revolutionary new generation of software that operates “in the cloud” at extremely low cost.
NatWest and RBS to date have led the field in taking applications for the Enterprise Finance Guarantee scheme, with over £220 million worth of loans already agreed or in the pipeline. Recent BIS figures also confirm that of all EFG lending across the industry, NatWest and RBS have provided nearly half of all loans drawn down.
Laurent Othacéhé Managing Director of 360 Scheduling said: “The Government backed EFG Scheme is a wonderful initiative to support small businesses like ours to keep investing in these challenging economic times. This new investment will enable 360 Scheduling to take new products to market much more quickly than would have been possible otherwise and further enhance our reputation in the market place for designing cutting edge web-native software. Most importantly it will ensure a Nottingham based company keeps growing and providing employment whilst developing home and overseas customers.”
Laurent added: “This new initiative is important not only for 360 Scheduling, but for every business, and I want to thank Simon Staniforth, our NatWest Business Manager for his help, advice and support in securing this funding. We have a great working relationship with Simon and have always found him to be very interested and supportive of our plans for the future.”