Priocept, the internet technology consulting firm that manages internet technology projects and builds internet based products and services for its clients, disclosed today that it has witnessed a 100 per cent growth level in its business since January 2006.
Priocept’s founders say that this significant expansion level is proof that the “internet technology consulting” sector is coming into its own. This “New Media meets IT” arena is growing substantially in terms of business revenues and customers even though there are only a small handful of players in this market.
Major organisations are seeking unique web and internet technology solutions to improve their commercial propositions. Existing web agencies lack technical expertise and IT discipline, while traditional IT services firms lack the creative approach, focus on innovation, and understanding of emerging technologies.
The continual and rapid evolution of internet technologies is significant because consultancies in this field need to focus on helping businesses to understand and manage the business change that is made possible by internet technologies, in addition to helping these same businesses to translate prior IT investment into real world products and services on the web.
In our niche area of IT consulting, where internet technologies become tools to enable both business change and new product development, Priocept has experienced tremendous business interest and growth. The arena in which Priocept works is still poorly defined and classified, but the value, purpose and, most importantly, results of our work in increasingly evident.
Priocept has reported revenues just below £1 million for 2006, only two years after being established. Their financial performance is due to such successes as the re-platforming of the London Stock Exchange’s website to support numerous product development initiatives, an ongoing programme of internet development projects for Lloyd’s of London, and a cutting edge project for Panasonic that will internet-enable a range of in-flight entertainment products, to be rolled out across major airlines later this year.
Defining the Business Arena
Priocept is one of the few “internet technology consultants” of its kind, providing project management, technical consultancy and software development services purely to help clients conceive, design and develop internet-based products and services. Priocept is often asked to plan, manage and execute complex internet and web technology projects for its clients where the expertise that the client demands can neither be met by web agencies or traditional IT services firms.
New internet technology consulting firms have a significant role to play in strengthening the UK’s emerging technology expertise, and reversing the move toward increasingly off-shore based development. Application of emerging, high-risk technologies to business projects is a high-value service where commodity off-shore firms will struggle to be competitive.