Belfast-based IT company Neueda is to grow its workforce by 75 per cent over the next 2½ years with the creation of 165 new jobs.
The privately-owned company, which currently employs 220 people, provides IT consultancy, analytics, training and software development to organisations across the public sector, utilities and capital markets.
Neueda was established by Brendan Monaghan in 2004, and its clients include BT, Bloomberg, Bord Gáis, Citi, Credit Suisse, Ericsson, ESB, Irish Water, the New York Stock Exchange and Northern Ireland Electricity.
“We’ve been growing between 30 and 40 per cent for the last four or five years and have recorded growth in every year since the company was formed,” Mr Monaghan said.
He said Neueda had already begun the hiring process with about 30 people taken on recently and expected to be taking on “three to four people a month over the next couple of years”.
The new roles range from entry-level engineers through to senior engineers and technical and solution architects. The company has also announced a number of jobs in non-technical roles at senior levels in consulting and project delivery.
“This year we turned over just shy of about £16 million. We’ve forecast revenues of about £21 million for the next year, which ends in March. At the present moment we’ve got 80 per cent of that already booked so we’d be very confident of hitting our target,” he added.
Mr Monaghan said the company was seeing particularly strong growth with customers in financial markets.
“We’ll probably see that area of business grow by about 100 per cent this year,” he said.
Digital transformation
Mr Monaghan said the company’s focus was on “digital transformation”, a term he admitted was often misunderstood, despite it being bandied about a lot.
“Essentially, a large part of our role is working with companies that have spent a lot of money on IT systems but are frustrated with the result. Their boards have possibly invested tens of millions of pounds on technology and yet they can’t really see a lot of value. We work with them to figure out a way to bring in new technologies and approaches to solve their problems, usually by building on their existing platforms,” he added.
Mr Monaghan is a finalist in this year's EY Entrepreneur of the Year awards, while Neueda was included on the most recent shortlist for the Deloitte Technology Fast 50 Awards.
“We think we are in a pretty good space because a lot of the main building components needed to deliver proper digital transformation is stuff that we’ve been dealing with for years,” he said.
