FSE support helps propel UK SME Formscan with business transformation to Engeneum
The FSE Group (http://www.thefsegroup.com) manages funds on behalf of the Thames Valley Berkshire Local Enterprise Partnership (http://thamesvalleyberkshire.co.uk) for businesses trading within the Thames Valley area. Many businesses compete for these schemes annually, but only a top few percent are able to successfully obtain one of these prestigious funding initiatives after undergoing a rigorous due diligence process. Earlier this year Formscan Limited was awarded funding of £200,000 as part of the Thames Valley Berkshire Expansion Scheme.
Since receiving the first instalment a mere 6 months ago, Formscan has achieved unparalleled success with its business transformation – switching from a traditional document capture, and archival business to a SaaS platform transforming all types of business processes to seamlessly connect data. Within this transition, Formscan has also been going through a product and business rebrand, employment restructure with additions in the business development and IT departments, as well as an increase in regular monthly revenue by over 10%.
Chris Haden, CEO of Engeneum (http://www.engeneum.com - trading entity of Formscan Limited) says “Having received this funding through The FSE Group, our business has been able to make radical and necessary moves into launching our business solely as a digital product moving forward. We’ve been able to maintain the great historic attributes and integrate numerous upgraded, value-added and bespoke features core to the Engeneum product. With our soon-to-launch product tiers for business departments, we aim to offer more tailored solutions for businesses needing to focus on internal processes and efficiencies.”
Engeneum is a powerful, scalable, hosted solution that operates centrally, or across multiple departments for quality and auditable collaboration both internally and externally. Engeneum facilitates human resource departments to securely validate their candidate’s credentials to comply with immigration laws; finance teams to share information with specific audiences – individuals, groups, and other businesses; compliance managers to audit workflows for quality assurance; and many other practical applications.