Global News
Edinburgh based HotDocs Ltd - the global leader in document generation software - has been named one of the winners of a 2013 Queen's Award for Enterprise, the UK's highest accolade for business success. Going against the norm of a large, US company purchasing and absorbing a UK business, a Scottish SME has acquired a larger company in the States from a major corporation and is enjoying significant success in this new market as well as continuing to grow at home.
The company received the award for achievement in International Trade, formally recognising HotDocs success in doubling group revenues since the 2009 acquisition of the HotDocs business from LexisNexis. For HotDocs, the North America market now represents more than 70% of worldwide business, with group revenues expected to grow a further 30% in 2013. In total, the company has seen an increase of 255% in the past two years in terms of overseas sales.
Russell Shepherd, the UK entrepreneur who now resides at the helm of this global market leader, said: “It is with great delight that we today announce our success in winning a Queen's Award for International Trade, particularly in recognition of how quickly we have increased our overseas business in North America and Australia. We have a fantastic team at HotDocs on both sides of the Atlantic and not many businesses have headquarters in both Edinburgh and Utah, but we have shown that this combination can work extremely well.”
HotDocs aims to build on recent successes and has in place ambitious growth plans across both domestic and international markets. Success to date stems from the fact that HotDocs, by the very nature of the product, bucks the current economic trend by growing in a recession and offers customers business efficiencies that ultimately lead to cost savings, risk reduction and eliminate duplication of effort. HotDocs customer base includes the legal profession, banking, insurance and financial institutions, corporate organisations and the public sector, with over 1,000,000 users globally in forty two countries.
Shepherd concluded: “The achievement of the Queen's Award for Enterprise in International Trade is a fantastic endorsement of the success of our team in increasing our sales in overseas markets. However, there will be no 'laurel-resting' and HotDocs will push ahead with our ambitious growth plans over the coming months and years. We have just opened our New York office to better serve our East Coast customers. We will continue to develop and enhance our product range and have several innovative and disruptive technologies due for release this year, which will further cement our position as the global market leader in document generation software. “
The Queen's Awards for Enterprise have announced approximately 150 awards for outstanding business achievement in the fields of International Trade, Innovation and Sustainable Development in 2013. The awards are made annually by HM The Queen and are only given for the highest levels of excellence demonstrated in each category.
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