Ideagen expanding overseas

Ideagen’s (IDEA) recurring revenues constituted 67 per cent of the top line for the year to April 2019, up from 62 per cent. Meanwhile, software-as-a-service (SaaS) revenues increased by almost two-thirds to £13.7m, in line with the group’s transition towards a SaaS-based model. This shift should bring greater visibility, although it contributed to a dip in the organic growth rate from 11 per cent to 8 per cent.