E-trading business reports 150% revenue growth and 40% increase in headcount as the UK construction sector booms
Draft: 28th October 2021 – LONDON
Leading e-trading provider, Open ECX has today revealed the business has experienced its strongest growth period to date, with a 150% increase in revenue and a 40% growth in the team since 2020, alongside launching services in Ireland.
Since inception in 2012, Open ECX has become a leader in the field, working with some of the biggest names in construction, such as Sir Robert McAlpine, VINCI Construction UK, Wolseley Construction UK, and Grundfos. 2021 was another great year for Open ECX with new customers such as NG Bailey, Taylor Woodrow, James Donaldson Insulation, HG Construction and Scott Parnell Ltd becoming part of the ECX community. Earlier this year, the business consolidated its position in the Irish market with industry giants John Sisk & Son and BAM Ireland.
Growing from strength to strength alongside the expanding construction sector in the North West, Open ECX’s online portal for supporting the subcontractor application for payment process – WebContractor, is now being used by over 15,000 contractors and subcontractors across the UK and Ireland. The online portal for application management has helped contract over £2.6bn worth of business in the industry this year. What’s more, the next generation EDI solution, eInvoicing, has seen further uptake across the sector as it has revolutionised the previously traditional invoicing method.
This exciting period of growth and new business has resulted in an influx of new hires, with a 40% increase in staff since 2020 across the commercial, development and management teams. Recently making a number of senior hires, new roles filled include a Head of Delivery, Digital Marketing Manager and Head of Support. The team expansion is inline with exciting plans for the new year – as the business looks to have an even more impressive 2022.
Speaking on the success of the business, Founder of Open ECX Matthew Jones, said: “I’m extremely pleased with how far Open ECX has come in the time we’ve been operating, but in particularly these last 12 to 18 months. During a period of uncertainty for many, we continued to deliver our standout services to the industry and we’re proud of that. Our hard work and dedication paid off, allowing us to develop the business even further and bring in some fresh faces.
“Being Manchester-based, it feels like an exciting time as there’s a lot of growth and development going on in the city. We’re thrilled to be part of that and hope we can continue to create jobs for the talent based here and around the North West.” Alongside this, Open ECX has also been nominated as finalists for five industry leading awards, including Construction Software Product of the Year & Innovation of the Year at the Construction Computing Awards.
Alongside WebContractor and eInvoicing, Open ECX also provides its Marketplace and eOrdering solutions. Each platform offers useful business benefits – from saving time to reducing spend, whilst helping companies to become more eco-friendly and sustainable, digitalising ways of working leading to less paper waste.