This funding round has closed
Precursive solves the multi-billion dollar problem of resource management for professional services.
100% of minimum goal raised
Lead investor: Dwayne D'Souza |
Minimum Target £ 250,000 |
Minimum investment amount £ 2,951 |
Maximum Target £ 250,000 |
Maximum investment amount £ 250,000 |
Precursive solves the multi-billion pound issue of resource planning for Professional Service teams and counts WPP, Omnicom and BT as customers. The business was founded by a former Deloitte consultant, who understands the challenges well. Precursive provides a simple cloud solution which provides visibility of up-coming chargeable staff, replacing home-grown spreadsheets which are often used. Precursive has strong traction: the business is cash-flow breakeven, sales increased 300% last year and the business is soon to hit £500k of sales. The team is solid and experienced: key roles have been in place for several years.
Precursive is a Software-as-a-Service product available as a web application, and a mobile app on iOS and Android. The product is based on the Salesforce.com platform, which provides an ecosystem of thousands of customers to sell into.
Precursive's product helps customers to schedule, plan and forecast all their people who are working on client chargeable work. A timesheet and expenses app allows the tracking of budgets.
Precursive solves the utilisation issue for customers by providing a simple way to manage availability and capacity in a collaborative and real-time environment.
Precursive also offers implementation services for their product.
The business model of their target market - professional services firms - is based on 3 simple things: selling, delivering and invoicing client work. Most firms have sales and finance systems in place however the delivery phase is often left to spreadsheets, which is where project margin is lost and where over-work happens. Loss of margins happen when resources are not accurately planned and costs are not monitored.
Precursive is an easy-to-use tool that manages the delivery component and allows for margin tracking and project reporting which helps them to reduce costly over-run and increase their project profit margins.
Precursive has two revenue streams: recurring subscription software and one-off implementation services.
Precursive sells its software via a recurring subscription software-as-a-service model. This is a 12 month subscription basis - paid upfront and in advance by customers. Most customer contracts are multi-year which provides revenue certainty.
In addition Precursive offers implementation services for the initial year which is charged 50% at the start of a project and the remaining balance at the end.
Precursive is a Software-as-a-Service product available as a web application, and a mobile app on iOS and Android. The product is based on the Salesforce.com platform, which provides an ecosystem of thousands of customers to sell into.
Precursive's product helps customers to schedule, plan and forecast all their people who are working on client chargeable work. A timesheet and expenses app allows the tracking of budgets.
Precursive solves the utilisation issue for customers by providing a simple way to manage availability and capacity in a collaborative and real-time environment.
Precursive also offers implementation services for their product.
The business model of their target market - professional services firms - is based on 3 simple things: selling, delivering and invoicing client work. Most firms have sales and finance systems in place however the delivery phase is often left to spreadsheets, which is where project margin is lost and where over-work happens. Loss of margins happen when resources are not accurately planned and costs are not monitored.
Precursive is an easy-to-use tool that manages the delivery component and allows for margin tracking and project reporting which helps them to reduce costly over-run and increase their project profit margins.
Precursive has two revenue streams: recurring subscription software and one-off implementation services.
Precursive sells its software via a recurring subscription software-as-a-service model. This is a 12 month subscription basis - paid upfront and in advance by customers. Most customer contracts are multi-year which provides revenue certainty.
In addition Precursive offers implementation services for the initial year which is charged 50% at the start of a project and the remaining balance at the end.
Location
LONDON