Member Article

Record financial year for Middlesbrough-based engineering software firm Datum360

Middlesbrough-based Datum360, a UK provider of Software as a Service (SaaS) to the oil and gas sector, has announced a 25% turnover increase on last year.

Founded by Steve Wilson and Dave Mitchell in 2009, the duo have successfully turned the company into a £1.8m turnover business.

Now providing information management software to oil and gas clients across the globe, including destinations such as Houston and Kuala Lumpur, the company has increased sales by 70% in the last 6 months alone, a far cry from the firm’s initial days as a local engineering information consultancy.

Moreover, the company has secured new contract wins with four of the six ‘Super Major’ oil companies; meaning that in terms of its compound annual growth rate (CAGR) for SaaS subscriptions, the company has made a 190% increase in the last three years.

Steve Wilson said: “We are delighted to have posted such a strong set of year-end figures which we firmly believe highlights the hard work and commitment of our team driving major contract wins.

“We have no doubt that this is down to the reputation we have carved within our sector for delivering leading information management solutions that can be deployed rapidly and work first time in an industry where it is not uncommon for them to never get off the ground.”

And what of future plans at Datsum360? Steve explained: “Our plan is to continue to grow the company even further, building on our reputation in the industry as a trusted and high performing partner. Having collectively worked in the industry for 50 years, Dave and I realised there was no company delivering engineering information as it should be.

“Owner operators requiring such a service often attached a stigma to it – and rightly so - that they were paying a lot of money for engineering information systems that were frequently delivering poor results, or worse still, not even getting off the ground.

“We wanted to develop Software as a Service that was the exact opposite, ensuring we delivered a cost effective, robust solution that provided exceptional and accurate information and was deployed effectively from the offset.

“The software that Datum360 deliver has seen our client’s increase their functionality on major projects through obtaining precise engineering information that can be accessed easily and securely at any required time. In the long run, by implementing robust information and data management systems at the beginning of projects, our software has helped save clients millions of pounds.

“With price being a real driving factor in the marketplace, our intelligent solutions provide companies across the world with a real opportunity to significantly increase operational efficiency and decrease overall costs.

“Failure to implement a robust information management system, combined with poor handover can lead to unnecessary costs.

“Our software is invaluable to companies in the oil and gas service playing an integral role in simplifying the management of a project whilst making significant financial savings.”