Tikit Share Discussion Threads

[interceptor2] 23/4/2009 07:51

See todays AGM statement below.

Mike McGoun, the Chairman of Tikit, will make the following comments about current trading at the AGM to be held at 12 Gough Square, London later today:

'At the time of announcement of our preliminary results in March, I stated that we had entered 2009 with a substantial recurring revenue stream and a good order pipeline of consultancy projects. I am pleased to report that software sales have held up well in the first quarter and are performing in line with our expectations. Our clients' budgets are being prepared in an uncertain economic environment and this continues to cause some deferral to the implementation of projects. This has put pressure on our consulting and training revenues. However, the strength of our recurring revenues should support the first half performance to 30 June 2009.

The focus for 2009 is to improve margins through our emphasis on higher sales of Tikit-developed software and to increase recurring revenues. Additionally, we continue to manage our cost base to mitigate our exposure to the risk of further project deferrals and enable us to produce profit growth in the second half.

I have been involved with the business since its incorporation in 1994 having held the position of Executive Chairman since 1998. Over the last 12 months, the executive team has been strengthened and now has sufficient depth of skill and experience to allow the Group to move to a more conventional board structure. Consequently, the Board have agreed that I will move to the position of Non-executive Chairman with effect from today.

I look forward to updating shareholders on the Group's progress prior to entering our close period early in July'.

[wjccghcc] 22/4/2009 00:19

Agreed. Bought a bunch in March at 110p. Well run outfit.

[cockneyrebel] 21/4/2009 11:25

Long a few yesterday - trading statement due any day - Chairman buying 85K a month or two back and increasing his holding by 70% or so is sort of interesting and a definite positive.

A well run software co with a great niche - never seen it trading on a PE this low.

CR

[beaufort1] 12/3/2009 09:34

This does look like a good prospect and now ridiculously undervalued. Almost inclined to buy some as I can't see it going lower now

[sbs] 12/3/2009 09:18

This looks to me like one of those AIM companies whose old owners sell from time to time but lack of exposure has limited new buyers. The buys going through today should mop up some of the trickle sells of the last few weeks.

[sbs] 12/3/2009 09:00

Yes - for now at least. Earnings per share of 18p beat interest on my bank account.

They have also survived a previous downturn and are even better positioned this time.

[cambium] 12/3/2009 08:28

is that the bottom then?

[orange1] 23/1/2009 18:51

More on the benefits to Tikit of the Interwoven acquisition by Autonomy:

Gordon Simpson, Technical Director at Tikit has commented: 'This news will greatly benefit our WorkSite clients due to Autonomy's size and reputation for innovative technology and will provide the foundation for further enhancing the WorkSite family of products. This will allow Tikit to deliver a greater range of solutions and functionality to our clients who have already, and are about to, invest in the WorkSite product range.'

Tikit is a key partner of Interwoven's and has been awarded the Worldwide WorkSite Partner of the Year award for the 3rd year running. Tikit installed firm wide DM systems at some of the world's largest law firms. With over 100 DM clients worldwide, Tikit has been one of the key drivers in moving law firms towards the paperless office, a key strategy in cost and environmental impact.

[orange1] 22/1/2009 13:05

Autonomy announced the acquisition of Interwoven today highlighting the following:
* A combined customer base of in excess of 20,000 will provide additional scale and significant cross-selling opportunities
* The opportunity to provide broader and more comprehensive offerings to customers
* Combining the two companies will accelerate the delivery of the next generation unstructured information management software

Specifically:

* The combination of Autonomy's Meaning Based Computing technologies (IDOL) with its ability to understand content) with Interwoven's suite of products (focussed on managing the interactions of people and content) will create a new set of technologies, updating and enhancing Interwoven's products by significantly reducing the levels of manual effort now required. These technologies are ready to address the new need for manage-in-place and extend Autonomy's reach into a new customer base.Interwoven's products know what the customer interactions are, and Autonomy's IDOL will allow them to know what they mean.Examples of this in action will include:

* Combination will extend Autonomy's legal and regulatory usage by top-end
customers and regulators and the ediscovery marketplace into the practices of
the world's leading law firms, creating a larger combined market and a
continuous chain through the entire litigation and risk management process. The market need for this solution for law firms has been driven by regulatory
changes such as the U.S. Federal Rules of Civil Procedure, which means much
larger volumes of content have to be processed between the chain of the client
and the law firm. The Acquisition also allows us to extend Autonomy's value
chain of discovery, review, processing, early case assessment, linking those to the operations within the law firms. The combination creates the largest
company dedicated to the legal information management industry with over 20,000 customers including 1,200 top law firms.

* The intelligence of Autonomy's IDOL technology can be used to extend
Interwoven's web content capabilities across 100,000 corporate websites,
intranets and extranets already powered by Interwoven. Through the combination of Interwoven's Optimost software and IDOL, Interwoven's customers will be able to optimize multiple forms of customer interactions, including email, chat sessions and the telephone. Interwoven's web solutions, when combined with Autonomy etalk's industry leading customer interaction software, will marry the call center and web for comprehensive and coherent customer interaction management.

All good news for Tikit who is Tikit is an Interwoven partner and one of the principle distributors of WorkSite, to the UK legal and accountancy markets. Tikit's Document Management group includes over forty consultants who are dedicated to the Interwoven WorkSite product. This figure is split across implementation consultants, training, support, development and project management.

[tole] 15/8/2008 17:52

Been on the rise the last couple of weeks.

[orange1] 19/6/2008 22:11

Penningtons rolls out firm-wide CRM strategy with Tikit

InterAction and eMarketing Solution purchases backed up with data cleansing and training implementation

Commercial and private-client firm Penningtons Solicitors LLP (www.penningtons.co.uk) has embarked on an ambitious, firm-wide CRM strategy with the adoption of a suite of market-leading technologies through legal IT specialist Tikit (www.tikit.com).

As part of a firm-wide initiative to drive business development, enhance client relationships and service and to institutionalise contact data, the company has selected Tikit to implement the InterAction CRM system from LexisNexis. In addition, the firm has also purchased Tikit's own eMarketing Solution - an InterAction plug-in campaign management tool. To support the roll out of these products, Penningtons has retained Tikit's data-cleansing subsidiary Shamrock Marketing to ensure the quality of data being fed into the system.

As well as a broad technical approach to the roll-out, Penningtons is also ensuring integration firm-wide through a comprehensive training programme. This aims to educate fee-earners, partners and business development on the set up and use of the system to ensure take-up and effective use of the technology. Early in the project Penningtons identified that they needed to develop an effective communications package that caused minimum disruption to the business. This requirement dovetailed with Tikit's innovative approach to its training that blends online and face to face learning. Working with the Pennington's team Tikit developed a tailored communications and training solution combining, 24/7 availability, multi media staff communications, online help and focused training. Using the latest learning technologies, Pennington's will be achieving a consistent and flexible approach to their training requirements - a key deliverable from Tikit's blended learning methodology.

Claire Wood, CRM Manager at Penningtons, said: "We recognise that CRM is about more than just a technology implementation, it's a firm-wide strategy that can impact on a broad range of business areas. With this in mind we didn't just want to plug in a piece of technology and leave it, we wanted to select the best-of-breed technologies from across the market and to integrate them effectively to create the best return on investment.

"Tikit's portfolio of products and services under the CRM banner have given us the option of a one-stop shop for all of our strategic client relationship management needs. It was this, combined with their unarguable experience in the legal sector, that made them the obvious choice for the project."

David Raine, partner, said: "CRM is an important tool for any major law firm. We recognised early on that it's not just about throwing money at technology – the way to get real value is to ensure that any CRM approach is as closely integrated into the human resource of a firm as it is into the technical infrastructure."

Simon Elven, Head of Information Management, Tikit, said: "Penningtons' approach to CRM demonstrates a real understanding of the holistic nature of the strategy. They've taken a considered and well planned approach to this implementation and we're confident that they'll see the benefit of this in the years to come."

[cockneyrebel] 18/6/2008 11:36

Trading statement was on July 5th last year.

Should be interesting with the Chairman having been a big buyer just prior to the AGM and the company saying they were ahead at the AGM too.

Lawyers would be one sector that isn't likely to be affected by any recession imo.

CR

[orange1] 17/6/2008 20:32

Taylor Wessing chooses Tikit for Enterprise Relationship Management roll out

Contact Networks' technology to be used to develop CRM project

Full service European law firm Taylor Wessing is tapping into the new world of Enterprise Relationship Management (ERM) with the appointment of legal IT specialist, Tikit, to implement software from Contact Networks. Tikit and Taylor Wessing rolled out the ContactNet software in early 2008 as part of an implementation of the industry standard InterAction CRM software.

ContactNet is a technology that works to identify the hidden relationships in a law firm by analysis of core data such as Outlook contacts, email traffic, CRM databases and billing systems. Whilst tools such as InterAction already capture data from Outlook address books, ContactNet's more in-depth analysis can not only identify individual relationships that might not be listed in Outlook, but also make assumptions about the strength of a relationship based on the frequency and intensity of contact. A 2007 study by Contact Networks of a dozen large law firms revealed up to 80% of relationships are never entered in to address books and thus aren't available in applications other than ContactNet.

With such systems there can be a perceived risk that private contacts could be accidentally picked up. In fact, the system is set up to block non-professional contacts. To completely overcome any objections to the issue, Taylor Wessing took great care to ensure that fee earners and partners understood what the implementation entailed and also how to categorise data as personal if necessary. By marking contacts in Outlook as 'private', a user can make sure that the system will ignore any confidential data, such as personal contacts or doctors' details.

Using ERM, Taylor Wessing is now able to take a more nuanced and scientific approach to its client relationship marketing activity. The ability to identify who in the firm knows a contact best can be hugely powerful for new business or cross selling. The technology also has additional benefits through enabling easy collaboration by helping users identify colleagues with particular contacts or areas of expertise.

Simon Elven, Head of Information Management at Tikit, said: "ContactNet takes a firm's understanding of its network of relationships to a new level. Whilst collating the company's contacts from Outlook address books can institutionalise basic corporate knowledge, through ContactNet this information becomes a live map of relationships that can give a real competitive advantage when it comes to reaching out to clients and new business leads."

Penny Sargent, CRM Project Manager at Taylor Wessing, comments: "We were initially looking at just rolling out InterAction but, when we saw the capabilities that ContactNet could offer, it was clear that there was a real opportunity to be had. Whilst InterAction delivers a lot of value by capturing contact data, using ContactNet you can add real extra depth and value to this information, making it an even more powerful business development resource."

Tim Hyman, IT Director at Taylor Wessing, adds: "The hidden relationships that are implicit in things like email and billing systems can deliver real value – the challenge has always been to identify and encapsulate them in a meaningful way. Using ContactNet we've been able to automate this process and have begun to generate a new type of company 'map', clearly detailing who knows who. Taylor Wessing really has moved its CRM project onto the next level."

[beaufort1] 07/5/2008 16:33

massive volumes going through today - something up?

[beaufort1] 07/5/2008 16:28

Fascinating that this is performing so strongly and yet this thread is as quiet as can be. Anyone out there????

[beaufort1] 07/5/2008 16:28

Fascinating that this is performing so strongly and yet this thread is as quiet as can be. Anyone out there????

[beaufort1] 01/5/2008 17:24

Ticking up strongly on very low volumes..

[orange1] 24/4/2008 09:13

Everything continuing to go very smoothly at Tikit as the AGM statement today confirms. And you know you have hit the sweet spot when you announce an acquisition on 3 April and can announce on 25 April that it is performing well and ahead of the expectations set during the acquisition process.

Here is that AGM statement in full:

ENCOURAGING START CONTINUES INTO SECOND QUARTER

Mike McGoun, Chairman of Tikit, a leading provider of consultancy, services and
software solutions to major UK and European law firms and accountancy practices,
will make the following comments about current trading at the AGM to be held in
London later today:

"At the time of the announcement of our preliminary results in March, I
indicated that we had experienced an encouraging start to the year and I can
confirm that this has continued into April.

Tikit continues to be involved in the implementation of a number of large-scale
projects at legal and accounting firms. Business activity levels remain high and
we are engaged with a number of clients in the specification, sizing and pricing
of further projects due to commence in the second half of 2008.

Our recent acquisition of TfB, a leading provider of practice management
solutions to law firms, has been well received by clients of both organisations.
I am pleased to report that TfB is performing well and ahead of the expectations
set during the acquisition process.

I look forward to updating shareholders on the Group's progress prior to
entering our close period early in July."

[beaufort1] 22/4/2008 16:31

Share price now ticking up again

[orange1] 04/4/2008 16:16

Last November Mike McGoun Executive chairman of Tikit acquired 20000 shares at 223p. Today he has added another 40000 at 236p.
He has also transferred 480000 to his son Miles thereby making Miles in one stroke a paper millionaire. Mike clearly loves Miles very much.

[orange1] 03/4/2008 09:39

Tikit had recently signalled that they were on the acquisition trail and their announcement this morning exhibits the fruits of their endeavours:



An eminently sensible acquisition in my view which ticks all the right boxes:
Tikit have "stuck to the knitting", are increasing market share and are avoiding client overlap. The two companies already knew each othe. The leading lights behind TFB are staying put and will become substantial shareholders in Tikit thereby aligning their interests with those of Tikit. TFB will be run independently but Tikit will of course have access to their clients for the supply of their own products.

In addition to this morning's announcement from Tikit, TFB have made the following announcement:

"TFB are delighted to be able to announce that they have become part of Tikit Group PLC to create the largest Independent supplier of quality IT solutions and services to the legal profession in the UK, with clients ranging from regional firms to the magic circle. An important part of the acquisition, which is for cash and shares, will see TFB continue to trade as an independent company with Simon Hill (Managing Director) and Mark Garnish (Business Development Director) remaining on the TFB Group Board in the same roles as before. Both have signed long term contracts to remain with the company and have become significant shareholders in Tikit Group PLC.

Simon Hill commented "We have always enjoyed a very good relationship with Tikit and whilst we serve the same profession we have very few shared clients. As a result of this deal the Tikit Group will be able to offer solutions to all law firms in the UK and beyond, irrespective of size. Like Tikit, TFB has always valued our independence and I am delighted that TFB will remain as an independent organisation inside one of the largest and most significant suppliers to professional organisations."

Mark Garnish added "We are particularly excited about the opportunities for knowledge and product sharing between the two companies in the Group. Tikit's expertise in the largest firms in the UK is second to none and we are looking forward to gaining a greater understanding of these areas of our market which can only have a positive impact for our clients with the challenges the profession will face over the coming years."

[orange1] 12/3/2008 22:45

Edison investments have gone for EPS of 23.7 in 2008 and 26.6 in 2009.

[davidwilkin] 12/3/2008 21:45

Cheers orange - forward pe of around 10 thats cheap historically, but there are any number of companys on pe's around this level at the moment and cheaper.i'm not rushing to buy any more but hold a 1000 shares in my sipp, that will do for now and happy to collect the £50 div. Happy trading !