Sofico reports record results on back of growth strategy

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Sofico has ended its 30th anniversary year with record results, driven by its growth strategy and product innovations.

Sofico managing director Gémar Hompes

Sofico managing director Gémar Hompes

The global automotive finance, leasing, fleet and mobility management software provider – whose Miles solution manages contracts in 24 different countries across the world – saw record turnover of €34.7m in 2018, up 16.4% on the €29.8m recorded in 2017.

The results come on the back of the company’s growth strategy, focused on product innovation and local presence to better service the needs of customers.

In the past three years, local offices have been established in the Netherlands, the UK, Germany and Mexico. Each office works on local implementation projects in addition to providing support to existing local customers. The new local offices are operated alongside the offices established earlier in Australia, Japan and France, increasing the number of those outside Belgium from three to seven. The offices in Mexico, Australia and Japan act as a hub for customers in the Latin America and Asia Pacific regions respectively.

Sofico has also recently expanded its product offering with the new generation Miles.next software system, which brings a cloud-native micro-services architecture that turns the existing Miles Core ERP application into a hybrid solution platform to help customers meet evolving mobility needs.

Gémar Hompes, Sofico managing director, said: “We are delighted with our growth figures as they are a true indicator of our success in meeting the changing needs of our customers around the world.

“Our customers have benefited greatly from our continuous investment in Miles, while Miles.next has allowed us to widen the scope of our solutions in line with the way the global market is developing towards Mobility-as-a-Service.

“As a result, Miles is now a true hybrid contract management system capable of meeting the needs of a global market where the effective management of multiple business lines and different mobility solutions is becoming an absolute necessity,” he said.

“Meanwhile, our local office strategy has allowed us to adapt our solutions to more readily meet the needs of local market conditions and has been instrumental in attracting local staff with knowledge of the local market and languages,” he added.

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Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.