A Torfaen technology firm has launched a new product designed to give small-to-medium sized businesses in the manufacturing sector affordable access to industry-leading financial management software.
Hudman Solutions, which is based at the Springboard Business Innovation Centre in Cwmbran, launched its latest product, Central ERP®, in January.
The cloud-based software system offers businesses a range of services, from accounting and payroll to sales, stock and production control, supply chain management and financial forecasting.
Businesses pay a monthly fee for the service, which includes all upgrades and support, and the products are already being used by companies in a wide range of industries from across the UK.
Paul Driscoll, commercial director, started the company in 2009. He said: “I have been a chartered accountant for more than 35 years and it always frustrated me that the sort of high-end financial software that can really help smaller businesses to work smarter and more effectively is almost always out of their price range.
“I decided to build my own products from scratch and worked with my clients to develop them, ensuring that they are fit to meet the challenges of small-to-medium businesses while remaining affordable.”
Hudman Solutions was granted £50,000 from the Welsh Government’s Digital Development Fund to help develop its products and, in 2013 while the software was still in the development stage, it won the South Wales Chamber of Commerce’s Technology Innovation Award. The company now plans to build its client base and has ambitious plans to triple its workforce by the end of 2016, taking on 22 new employees by the end of 2017.
David James, managing director at Hudman Solutions, said: “The manufacturing industry is facing an uncertain future. Our products will help businesses to manage all aspects of their business more effectively, by offering a full range of powerful features which are not available currently at anywhere near the affordable pricing we offer. Once a business has purchased a product we can tailor it to their needs and there are no hidden costs for on-going support.”
The four man team is based at the Springboard Business Innovation Centre in Cwmbran, a joint venture between Torfaen County Borough Council and Welsh Government to support technology companies with high-quality accommodation and access to business support.
Mr James said: “Springboard is an ideal location for us. It’s filled with technology companies working across a variety of sectors, and we have already started to build important business partnerships with other tenants. It also offers us easy access to the rest of south Wales and the M4 corridor, which is perfect to help us grow and expand. We already have around 40 clients on board and are in discussion with a number of businesses both locally, and overseas. We hope to be able to announce some big new contracts very soon.”
Councillor Lewis Jones, the executive member for regeneration at Torfaen council, said: “Hudman Solutions is a great example of a small team of entrepreneurs, who are all experts in their own areas, coming together to create a fantastic product. I am delighted that the support they have received at Springboard has helped them launch these products that will ultimately allow them to grow, creating local jobs as a result.”