Licensing MSP, Crayon, has reported gross profit growth of 23 per cent in its second-quarter results.
The company saw £110 million in gross profit in the second quarter with its software and cloud its fastest growing business at 30 per cent growth, while its consulting, software and cloud economics businesses followed on at 29 and 28 per cent.
Europe was Crayon’s biggest growing market in the second quarter with 50 per cent gross profit growth, followed by the US at 31 per cent.
Norwegian MSP Crayon has had a gross profit growth of 31 per cent in its first quarter thanks to high demand for software and cloud services.
Crayon CEO Melissa Mulholland said while the global tech market continued to be impacted by the challenging macroeconomic climate, the company’s core business model helped its resiliency.
Adjusted EBITDA increased 50 per cent to £13.5 million, reflecting a margin of 14.7 per cent.
Operating profit increased to £4 million from £3.4m in the same quarter of the previous year.
“We see a strong demand for optimisation and innovation across all our markets, and our customer centricity ensures we can deliver on those demands,” Mulholland said.
Across Europe, YOY gross profit growth increased by 53 per cent, for the Nordics it was 26 per cent, the US was up by 25 per cent and Asia Pacific, the Middle East and Africa was 21 per cent.
The numbers of female CEOs running Fortune 500 tech companies have sharply declined over the last five years.
Cloud talent creation firm Revolent added up some numbers and divided by its shoe size and found that only seven percent of CEOs of tech companies in 2016’s Fortune 500 identified as female. This fell to just 4.41 percent in 2021 – a 14 percent decrease during the five-year time frame.
The research also found that none of the female tech CEOs in either 2016’s or 2021’s Fortune 500 list were founders of their company.
Crayon has taken over the Software Asset Management (SAM) for Henkel’s main software suppliers. Under the terms of the agreement, Crayon will provide both operational and strategic software license management for the Group’s clients and servers on a worldwide basis.
At Henkel, more than 53,000 employees work with a large variety of different application programs from various software manufacturers. The increasing complexity of software licensing also raises the risk of mis-licensing and mis-purchasing. This contradicts the Group’s efforts to ensure licensing compliance and to optimise software procurement and maintenance.
Henkel decided in favour of Crayon as it has a background with license management for major international corporations and many years of experience.
Irmgard Arends-Koch, Head of Service Integration at Henkel said: “”Together with Crayon, we want to ensure that Henkel is properly licensed and able to stand up to the legal review of manufacturers and auditors,” says. “We are pleased to have Crayon at our side as a strong and experienced partner.”
The common interest in achieving efficiency gains is also reflected in the services’ remuneration model, which rewards both actual savings and proven cost prevention.
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