Masternaut is celebrating a third year of rapid growth with sales forecast to top 4.5million, up from 2.9million last year. From the start up team of just five in 2002, Masternaut has grown ten fold with profits expected to more than double this year. The company's healthy balance sheet is underpinned with growing subscription income, currently as a 4million stream of recurring revenue and there is also a current new order book of 1.5million.
The Leeds-based company has revolutionised the UK telematics industry with an innovative service that delivers live satellite vehicle tracking over the web. Sales have been boosted with the development of series of mobile resource management systems that are all easily accessed via the Masternaut web service. These include the use of a modular in-cab PDA solution for job despatch, routing and navigation, as well as special applications for working time, safety and security monitoring.
The company has also broken into the larger fleet market and has attracted a number of well known names such as TNT, Help the Aged, Homebuy, NTL main contractor, Kingsferry, Business Post, WH Smiths and local councils. Masternaut appeals to big and small fleets alike, providing easy accessibility and integration through the latest web technology.
Masternaut customers pay an all-in-one monthly fee covering everything from vehicle installations, maintenance, software on the web and all mobile communications costs. The first of 3-year renewals are also set to further boost future revenues. Masternaut adopters are operating with much greater efficiency with vehicle and staff use optimisation with day-to-day cost savings of 20%.
Masternaut, who moved to new purpose built premises in Aberford near Leeds last year, is also seeing growth driven by strategic partnerships that include Microsoft, Iveco, M6 Toll and many industry IT suppliers such as Paragon.
"It has been a fantastic three years and we have surpassed all of our forecasts. We feel Masternaut is now firmly established as a key supplier of mobile technology and certainly the fastest growing. The innovation that made Masternaut so well received at the start has continued abound. A key focus is to make technology really accessible and very easy to use with customer service that surpasses expectations - we like to think that we humanise technology" says Martin Port, Managing Director of Masternaut.