Baronscourt Technologies (Baronscourt) is expanding its software development operation in Londonderry to increase exports to key global markets including the US.
Robert O’Brien, Managing Director of Baronscourt, which is based at Northland Road, has announced plans to invest £163,756 in the growth of the business over the next three years. The expansion was welcomed by Des Gartland, Manager of Invest NI’s North West Regional Office in Derry which is providing assistance of £65,500 towards the costs of the expansion project.
Baronscourt has developed market leading software for clients in the private and public sectors to ensure compliance with risk management requirements. The company’s innovative MetaCompliance Risks Assessment solution was developed with support from Invest NI’s Product and Process Development programme.
Mr O’Brien, commenting on the expansion, said: “This is an important and exciting strategic investment for the company to enable us to build on the business we’ve already won in markets such as Great Britain, ROI and Canada.
“Our extensive work with the Public Sector in England and Wales has demonstrated the overall effectiveness of the MetaCompliance solution.
Our market research shows that the global compliance market could be worth $3 billion by 2011. This means there is a significant opportunity for us to gain a share of this very substantial business.
“What we now want to do is to take the product, which is recognised as the leading solution, into other markets in Europe and the US. As well as enabling us to intensify our marketing activities, the investment will involve work on localising the software for markets such as France, Germany and Spain.
“Invest NI’s assistance will be invaluable to us as we seek to exploit the business opportunities that we’ve pinpointed as quickly as practicable. Our overall objective is to drive sales forward by 200 per cent through this aggressive marketing strategy. This should also result in exports growing to 80 per cent of turnover,” he added.
Mr Gartland, welcoming the company’s strategic focus, said: “Baronscourt has identified a substantial export market opportunity for a highly innovative software solution and has developed a comprehensive action plan.
“This plan will see the business become an export leader and an important technology driver in Derry. It is also establishing Derry as a global centre of excellence in the exacting compliance software solutions.
“Our assistance is in line with our focus on providing practical support to companies which have innovative products targeted at global markets. This has included assistance towards the appointment of an experienced sales and marketing professional to drive growth abroad,” he added.