Brennan IT hits the high spot with managed services

Peter Dinham
Wednesday, 22 February 2012 17:55

Brennan IT has scored a double, with recognition both in Australia and worldwide, by the MSPmentor 100 Global Edition report, as the number one Australian managed services provider and the fourth top provider globally.

Dave Stevens, managing director of Brennan IT - an Australian-based cloud computing provider - said in recognition of its 'outstanding performance and strong growth in recurring revenues' the company had been named the #1 managed services provider in Australia, fourth globally, taking out top honours for the third consecutive year.

According to Stevens, the award has capped off a strong year, with the company experiencing 'record revenue growth for the last four quarters, driven in part by strong demand for its cloud services.'  Stevens said the company's cloud revenues were expected to account for 30 per cent of its business within the next 12 months.

'We are extremely proud to be recognised as the leading managed services provider in Australia - and fifth globally. Awards such as these provide an independent validation of the strength of our strategy which is centred around delivering a complete IT solution as part of a fully managed offering.'

Stevens said the company was commended for its strong growth in annual recurring revenues, with the MSPmentor report highlighting that despite economic uncertainty, this year's global 100 list all lifted annual recurring revenues 28 per cent to $1.04 billion.

'Our revenue base, which is predominately built on long term, annuity based contracts rather than project based work, is more sustainable and puts our business in a solid position to weather economic uncertainty,' Stevens said.

'Recently we have seen major IT services companies report revenue and profit downgrades, however Q2 2012 was our strongest sales quarter on record, up 15 per cent on our previous best quarter. We believe our solutions, which are geared towards helping businesses save money, improve efficiency and competitiveness, make us more relevant to the evolving needs of the market and we expect to see continued growth into 2012.'