POOLE-based firm iplicit has been saluted for ‘flying the flag for innovation’ by winning two trophies at a ceremony honouring the best technology businesses in the south west. 

iplicit’s cloud accounting software earned the FinTech prize at the South West Tech Awards while the iplicit team was given a second trophy after the company was given the Dorset Cluster Award. 

The latter award recognises the firm as being the standout entry from the county where its support and marketing teams are based. 

The awards come at the end of another successful year of expansion at the firm, which has delivered more than 100 per cent growth annually since its launch in 2019. 

Now employing 91 staff across the country, it has just over 1,100 organisations using the platform, with more than 10,000 daily users logging in from 72 countries.  

Joe Bevan of Tech South West said: “iplicit impressed the judges with a very clear understanding of the market opportunity and its phenomenal growth.  

“We are excited to follow their journey as they continue to fly the flag globally for innovation in the south west.” 

Lyndon Stickley, chief executive of iplicit, said: “We are on a mission to displace Sage and become the most utilised finance software for mid-sized organisations.  

“Although our software has been 10 years in the making, and we’ve been implementing systems for the last five, we really are at the start of an inconceivably large opportunity. 

“Our mission is to rescue hundreds of thousands of organisations globally, that are currently held hostage to outdated, legacy, on-premise finance solutions without an affordable path to the cloud. 

“It’s great to receive an award that recognises both the quality of our product and the incredible growth journey that we've experienced so far. 

“2024 will see another 100 per cent-plus growth and take us to the launch point for our office in north America; we expect the expansion to continue aggressively and are targeting over £60m ARR (annually recurring revenue) in the next five years.” 

Collecting the award, Matt Lewns, partner manager at iplicit, added: “iplicit is disrupting the mid-market in the same way that Xero disrupted the entry level space.  

“Our technology is the most advanced in its field, designed specifically for the tens of thousands of Sage 50 and Sage 200 customers that don’t feel they have an affordable cloud path with their existing vendor.”