Estimation for Group Turnover of +50,000,000 EUR in 2021
EPSILON NET Group of Companies, announces that based on the current data, the initial estimation of the Group’s Management that 2021 will be a landmark year in the Group’s business course is fully confirmed, since based on the latest ongoing sales data in the fourth quarter of the current financial year, Group’s estimated Turnover for 2021 will exceed € 50,000,000 with a correspondingly significant impact on the increase in profitability.
At the same time, a remarkable quantitative & qualitative expansion of the customer base is achieved, which is one of the main objectives of the management’s medium-term planning, since it will be the starting point for the Group’s new growth cycle, both in the Greek market and abroad.
More specifically, the new group of products of the Epsilon Smart series of the parent company, which is the Group’s most comprehensive web solution for Electronic Invoicing and interconnection with the A.A.D.E. myDATA platform for small and medium-sized enterprises & freelancers, has already exceeded 50,000 subscriptions in about one year of operation and continues its course on a daily basis, with a corresponding growth rate (www.epsilonsmart.gr).
Epsilon Smart, guarantees the easy fulfillment of e-books obligations, the online interconnection with the accountant and / or the bank, the issuance of documents and the organization of the daily operations of a business, with automatic continuous updates of publications, without requiring additional investments in equipment. It works in a web environment, utilizing the credibility of Microsoft and the technological capabilities of Microsoft Αzure. With an emphasis on ease of use and remote access from any device, the solution is available on all Android &iOS devices, operating on PC, laptop, tablet and smartphone. At the same time, it connects online with all the accounting applications of ΕPSILON NET Group, creating a unified system with the accountant’s applications, without the complex traditional procedures of file sharing through a bridge, which adds significantly to reliability and ease of information management, considering the fact that accounting applications already of EPSILON NET, hold the overwhelmingly largest share in accounting-tax offices.
Moreover, it is worth mentioning that Epsilon Smart, with the combination of the use of Epsilon Digital, certified e-invoicing provider of EPSILON NET, enables the inclusion in the entire framework of the tax incentives established by the A.A.D.E., offering a complete solution, both for wholesale and retail sales, giving the possibility for a complete replacement of the use of a cash register or tax mechanism.
The significant success of this product line defines Group’s leading position in the numerous small businesses that until today the majority of them did not utilize Business Software systems in their daily operation. Due to this success, as well as the overall planning for the digital transformation of businesses, which is expected to be particularly enhanced by the funds of the Development Fund and the NSRF 2021-2027, it is estimated that in the coming years, apart from the significant recurring revenues, a significant increase in revenue per customer will be achieved, through the promotion of new specialized subsystems (modules) and services.
Based on all the above and the successful completion of the strategic acquisitions of 2020 and 2021, the management’s estimation is that the total number of businesses of all sizes served by the Group’s companies will exceed the number of 100,000 customers at the end of the current financial year.
The significant increase of the customer base is the starting point for the achievement of a significant amount of annual recurring revenues and increasing positive operating cash flows, which are the basis for the continuous growth of EPSILON NET Group.