Precept IT ranked 34 in Deloitte Technology Fast 50 2020

Belfast, Co Antrim, 17th December 2020 — Precept IT today announced that it ranked number 34 in the 2020 Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in Ireland. Rankings are based on average percentage revenue growth over four years.

Precept IT’s Managing Director, Clive Jones, commented:

“Precept IT has been in business for more than 18 years and is headquartered in Belfast City Centre, with additional offices in Dublin.

It has been an exceptional year for Precept IT, where we continued to grow and evolve throughout the COVID19 Pandemic.

As businesses and organisations needed to move from their traditional office environment to working from home, we are very proud of how the Precept team stepped up and assisted our customers to transition to Cloud IT and secure remote working.

Precept IT provides cloud computing and IT infrastructure services, including disaster recovery, managed services and connectivity services, to a wide range of organisations in the public and private sectors.

It is a leading partner of Microsoft, Apple and HP throughout Ireland and the UK.”

The Deloitte Technology Fast 50 Awards is one of Ireland’s foremost technology award programmes. It is a ranking of the country’s 50 fastest-growing technology companies based on revenue growth over the last four years, and this year marks 21 years of the programme celebrating innovation and entrepreneurship in Ireland’s indigenous technology sector.

Cumulatively, the 2020 Fast 50 winners generated approximately €3.3 billion in total annual revenues and employed over 4,600 people in 2019. The average revenue of companies featured in the ranking was approximately €90 million, while the average growth rate of the companies over the last four years was over 400%. Compared with last year, there are 13 new companies on the ranking.

Companies from across three provinces are featured in this year’s awards. 32 companies are Leinster-based, with 11 from Ulster and 8 from Munster*. Overall, 10 counties are represented in the 2020 listing.

Announcing the winners at the Deloitte Technology Fast 50 programme, Peter Allen, Partner, Deloitte (NI) Ltd said: “Congratulations to our 2020 Deloitte Technology Fast 50 companies. These awards are a celebration of entrepreneurial tech businesses across Ireland.  The pandemic has presented huge challenges to the way we work and live, and technology has responded to provide innovative solutions.  Although the economy has come under severe pressure, this crisis has presented unprecedented opportunities for NI tech businesses to shine.

“We think it is important to recognise the innovation and entrepreneurship they have shown, and I am delighted to see a strong representation from Northern Ireland on this year’s ranking.”

Cork company Everseen ranked number one this year. Founded in Cork in 2007, the company develops computer vision and artificial intelligence solutions for some of the world’s largest retailers.

This year’s awards programme included an inaugural Alumni Award category in addition to the overall ranking. The Alumni Award recognises a company that has played a major part in the Fast 50 Programme to date, having ranked in the number one spot for three consecutive years from 2015 to 2017. This year’s Alumni Award winner is Tommy Kelly, CEO of eShopWorld, a global commerce partner to many of the world’s most iconic retail brands that was launched in Dublin in 2010.

2020 MNC Patron Awards

Emphasising the importance of the relationship between multinationals and indigenous companies, the MNC patron awards recognised the following companies:

• Innovative New Technology Award in association with Google
  Winner: Everseen
  This award is for the company that has created or introduced a new or innovative product or service to International markets that has helped grow their business over the last four years.
• Impact Award in association with Facebook
  Winner: SilverCloud Health
  This award is for the company that has made the most significant impact within the current year.
• Women in Technology Advocate Award in association with Vodafone
  Winner: Vicki Reynolds, CTO, i3PT certification.
  This award is given to someone who has demonstrated through their actions that they are an advocate for increasing participation by and promotion of women in the technology sector.

Details of the final Technology Fast 50 ranking are available to download at www.fast50.ie.

Notes to Editors:

2020 Deloitte Fast 50

* 51 companies are listed in the 2020 ranking, as Intellicom and TEKenable achieved the same growth rate and are jointly ranked at position 50.

About the Deloitte Technology Fast 50 Programme

To enter the Fast 50 Awards, companies must meet the criteria listed below. Entries must be submitted electronically via the application link at www.fast50.ie, with the necessary supporting documents.

Fast 50 awards criteria:  

1. The company must have accounts covering a minimum of four years (i.e. four full twelve month financial periods).
2. The company must be considered a technology company which, for this purpose, is defined as a company that meets at least one of the following four criteria:
   1. Owns proprietary intellectual property or proprietary technology that contributes to a significant portion of the company’s operating revenues;
   2. Manufactures a technology related product;
   3. Devotes a significant proportion of operating revenues to research and development of technology;
   4. Is technology intensive, or uses its own unique technology to solve problems.

NB: Companies using third party technology or intellectual property in a unique way do not meet this definition. Consulting companies, professional services firms, resellers and others who don’t rely on proprietary technologies to generate their revenue are not eligible.

3. The parent company must be Irish-owned and have its headquarters in Ireland.

NB: Companies headquartered in Northern Ireland can take part in the Irish OR the UK programme, but need to choose one or the other and cannot enter both.

4. The company must not be a subsidiary of a larger group.

NB: If there is more than one trading company in a group of companies, the nomination should reflect consolidated revenue for year 1 and 4 and not the revenue of a particular company within the group.

5. The company must have base-year (year 1) operating revenues of €50,000 (£43,000) or more and a current year (year 4) operating revenue of at least €1,000,000 (£859,900).

Operating revenue figures must be calculated on a consistent basis. Please disclose in your application any change in revenue recognition between the year 1 and year 4 accounts.

NB: the accounts for the base-year must have an accounting period ending between 1 June 2016 and 31 May 2017; and the accounts for the most recent financial year must have an accounting period ending between 1 June 2019 and 31 May 2020.

6. All submissions must be accompanied by signed accounts for the first and last financial year being measured in the competition.

Where accounts are not audited, a cover letter must be provided. This cover letter should be on company headed paper, signed by a director of the company, stating and confirming the revenue figure per the accounts. Where only abbreviated accounts are available (with no profit and loss statement shown), please provide alternative financial information supporting the revenue figure presented, for example, management accounts used by the company, along with the cover letter described above.

The Deloitte Technology Fast 50 Alumni Award

This inaugural award recognises a company that has played a major part in the Fast 50 Programme to date and has made an incredible impact on the international economy.

Deloitte 2019 MNC Patron award categories  

1. 
   Innovative New Technology Award in association with Google
   This award is for the company that has created or introduced a new or innovative product or service to international markets that has helped grow their business over the last four years.
2. Impact Award in association with Facebook
   This award is for the company that has made the most significant impact within the current year.
3. Women in Technology Advocate Award in association with Vodafone
   This award will be given to someone who has demonstrated through their actions that they are an advocate for increasing participation by and promotion of women in the technology sector.

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