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Hot 100 2013 – 74: The Benefit Express

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The basics

Company name: The Benefit Express
What they do: Provider of employee benefit packages
Headquarters: London
The Boss: Michael Whitfield

The financials

Latest turnover (£,000): 27,396
Four-year compound sales growth (%): 31
Latest Ebitda (£,000): 4,876

The details

The Benefit Express, trading as Thomsons Online Benefits, provides employee benefit packages to companies ranging from Cisco to Deutsche Bank and IBM.

Founded by Michael Whitfield and Chris Bruce in 2000, and backed by private equity firm Pi Capital, Thomsons creates online benefits packages that are easy for employers to administer, and allow employees to tailor their own benefits to their needs.

The company’s turnover has increased substantially in the last four years, from £12.2m to £27.4m, and the company now does business in 44 countries. Paul Smolinski, CFO of the company, says: “In 2012, we continued our clear focus on developing Thomsons into a SaaS business, with more visibility over our longer-term bookings, revenue and cash. In 2013, we expect to see further growth in recurring revenue as a result.

“Despite the tough economic environment, there is no decrease in demand for our services, as companies continue to strive for greater control and proven return-on-investment from their reward strategies and benefit spend.”

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