The Opportunity
Having achieved considerable success in the niche market of document management systems for accounting professionals within North America, our client (code-named DocMan2), is exploring its strategic options to further the company's product expansion and international growth.
Founded in 2000, DocMan2 has continually surpassed expectations of its over 8,000 users within public accounting firms across North America. It has received the highest accolades from industry insiders and top tier ratings from industry analysts.
The DocMan2 suite of software applications is designed to improve an accounting firm’s processes by managing the flow of documents from every source through work-in-progress to archiving and retrieval. DocMan2 provides high measurable returns on investment for accounting firms wishing to implement best practices. Offering a substantial leap forward in the quest to "go paperless", the applications include a secure environment to guarantee document integrity, retention management of document life-cycle, an integrated search engine, check-in & check-out facilities, collaboration tools and a client portal, all within a fully auditable environment. Additionally the systems offer integration to tax, accounting and office productivity software applications.
DocMan2 has achieved consistent revenue growth and has been cash flow positive and profitable over the past 5 years, against the prevailing winds of a recession. Revenue is now at about $3M, of which over 80% is recurring.
The systems are sold direct through a subscription business model. To-date, sales efforts have been aimed exclusively at the Accounting practice market. In 2012, DocMan2 will offer vertical software solutions to new markets under their highly successful subscription model.
DocMan2 is privately held by 3 shareholders. They are looking at their options for succession planning, partnering and selling to a larger strategic organization with the expertise and means to assist its expansion, domestically and globally. Consideration will be given to all serious offers.
Highlights
- 8,000+ users in accounting firms across North America
- >80% Recurring Revenue - Subscription Pricing Model
- 98% customer retention rate
- Consistent Top-line Growth
- Debt-free, Cash Positive, Profitable
- Complete Document Management Solution for Accountants
- New Vertical Market applications being introduced
- Continuous Product Improvement
DocMan2 will be of interest to:
- Software and Service providers to Accountants and Accounting firms
- Software and Service providers to the Legal profession
- Software and Service providers in Financial Services markets,
- BPO or IT Services firms looking for a complementary product in the document management
- and/or the accounting industry.
- Document Management, Digital Content, Workflow and Business Process Management firms
- looking to enter a new market
- Private Equity Groups, Venture Capital and Angel investors with relevant portfolio companies
- seeking to add critical mass, leading technology and a profitable revenue stream.
Should you have any interest in exploring this opportunity, we welcome the chance to speak with you. All
replies will be kept in the strictest confidence.