Today Thames Valley....... tomorrow the world

Whilst the national press are reporting daily on the recession, many small businesses in the Thames Valley are continuing to thrive with the help of the tailored package of support available through Oxford Innovation.

One such company is FISCAL Technologies Ltd, which is fast becoming one of the world’s leading experts in duplicate payment technology. It provides software solutions and applications to finance departments in medium to large organisations around the world to help reduce costs, detect fraud and optimise working capital.

FISCAL Technologies was founded in 2002 and is run by husband and wife team David and Lesley Griffiths. They now have 14 people working for them around the country and over 75 customers across the UK and US. Their customers include Virgin, Rentokil, Norfolkline, Leapfrog, Next and 25 public sector authorities.

FISCAL Technologies is based in the Crowthorne Enterprise Centre, which is one of 15 Centres managed by Oxford Innovation.  Crowthorne Enterprise Centre provides start-up companies with a professional environment to grow, along with a range of business support services likely to be needed during the first vital years of operation.

In the past 6 months, with the help of the Crowthorne Enterprise Centre, FISCAL Technologies has grown significantly, and as a result has needed to increase the size of their office to accommodate more people and facilities. Due to the
extremely flexible terms the Centre offers, they were able to increase their office size quickly and cost-effectively.

The business has doubled its turnover in the last year and is expanding overseas. They have a small office just outside Washington DC to help focus on US prospects, winning 15 new customers so far. They are also investing in the development of new products and online managed services to help support companies of all sizes to help reduce financial processing costs and improve payment processes.

David Griffiths, FISCAL’s Managing Director says “We are very pleased with our profitable growth and are looking forward to another year of expansion”.

Crowthorne Enterprise Centre is one of a network of Innovation Centres managed by Oxford Innovation in the Thames Valley. These Centres offer their clients access to one of the UK’s largest and most active business angel networks, and a range of other support services and professionals that are vital to the success of many businesses.