Eagle's hopes soar with overseas deal

By RICHARD WOOD

Auckland's Eagle Technology expects to double its $35 million turnover in five years on the back of a new international focus.

The growth will be driven by sales of professional services software sourced from Florida-based BST, whose product is aimed at consulting engineering firms.

The first bite of the cherry for Eagle is a $5 million global roll-out for United Kingdom-based Environmental Resources Management (ERM), starting next Monday.

ERM, which helps firms manage their environmental and related risk, has 2300 employees in 35 countries. The BST Enterprise software will replace ERM's 30 financial systems. It will handle the range of accounting and services activity from time-sheet entry and project management through to invoicing and global consolidation.

BST has appointed Eagle its Asia/Pacific and UK agent. Eagle became the Australasian reseller for BST three years ago with a sale to local firm Beca Carter Hollings and Ferner. A sale to Meritec and to the commercial arm of Lincoln University followed.

Eagle general manager Rob Waters said the company got the opportunity to sell BST in the UK 15 months ago.

ERM had had to satisfy itself with the BST/Eagle combination.

"They were certainly [concerned] and had some reservations and it took us about seven months to convince them," he said. ERM confirmed the Eagle/BST deal. Asia-Pacific finance director David MacArthur said the solution would be a major improvement for its global project management.

Waters said Eagle's turnover was $35 million last year - similar to the year before.

The firm had realised it needed to shift focus to grow revenues and mitigate the risk of relying on local business.

"There is limited growth in New Zealand in the IT business. We're hearing rumours of layoffs and contractions, particularly in applications software sales. We're looking at the UK. The potential for growth is enormous."

Eagle has more than 20 installations of its own software in the food services sector in Australia and has a customer in Hong Kong. Export revenues have been about 5 per cent.

Last year Eagle built up its first international office in the UK and, in November, appointed Duane Eagle sales executive for the now five-person sales and service operation.

Eagle held a similar role handling large accounts in New Zealand and has been with the firm 10 years.

Duane's brother, Craig Eagle, was the managing director of Eagle Technology after the death of his father, Trevor, two years ago. He left the company last November.

Waters expects UK deals to add $5 million, on top of the ERM deal, to Eagle's revenues this year. Hong Kong and Singapore are also in Eagle's sights.