Listed below are details of progress and our plan for 2016 against our strategic objectives.

2015 Update
Product releases
• Significant new release of Aron Evo® the next generation of Elecosoft’s CAD product release in Germany and the UK.
• New release of Asta Powerproject®.
• New release of Bidcon® which was a multi-year project to consolidate numerous legacy products into a single solution strengthening our position in the Scandinavian market and opening opportunities in international markets.
• Advances in BIM with three update releases in 2015.

Advancement
• Received for the second consecutive year, the Project Management/Planning Product Award 2015 at the UK Construction Computing Awards.
• Maintained our investment levels in research and development to continue to meet industry needs.
• Established an internal developer community to share ideas and collaborate on development projects.

2016 Strategic Priorities
Product releases
• Create a demonstrably integrated product portfolio.
• Develop bridging solutions that assist with integration by linking our core solutions using a common technology platform, principally based on collaboration and visualisation. For example: Asta Powerproject® BIM includes 3D viewing engine from Elecosoft’s existing portfolio.
• Share our technology between products and integrate products to maintain a competitive advantage.
• Commence Sitecon upgrade project.

Advancement
• Deliver best practice and standardisation amongst development teams.
• Continue to develop with industry standards in mind, for example BIM, cloud and cross device usage.
• Seek opportunities to integrate with third party technology to broaden our potential audience.

2015 Update 

Territories

• Opened a US operation to support the US reseller channel.
• Continued to focus the Staircon® product in markets outside of Sweden, winning our first order in France.
• Won a significant order to supply a US Government department.
• Secured first ESIGN® order in China.

Cross-selling

• Showcased the complete software portfolio at Bau Munich, Europe’s largest construction trade fair.
• Introduced Bidcon®, our leading Swedish estimating software, in the UK.
• Experienced more demand in Sweden for our portfolio of products to a single customer.

Strengthen market position

• Changed the name of the Group to Elecosoft. Changed the branding of UK operations to Elecosoft.
• ESIGN® continued its relationship with US customers and can now offer floor scanning services in California through a service partner.

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2015 Update 

Financial stability

• Successful completion of capital reduction.
• Significantly reduced level of bank borrowings.
• Completed disposal of non-core architectural consultancy business in Sweden.
• Delivered strong free cash flow.
• Maintained tight control on overhead expenditure.

Strengthening the team

• Board appointment including new Finance Director.
• Appointment of sales managers in the US, UK, Germany and Sweden.
• Group lead developer community created.

Reorganisation

• Completed the reorganisation of Swedish businesses to align them more closely with the requirements of their customers.
• Elecosoft Sweden relocated into a new head office in Skelleftea and celebrated their 40th anniversary.
• Divested in Swedish services business to focus on the more scalable software operations.

Systems and procedures

• Simplified the company message through rebranding.
• Implemented a single internal communication systems.
• Standardised company naming to simplify messaging.

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