A London technology business is growing its workforce 20 per cent, and has snapped up a British Columbia-based enterprise as part of an aggressive growth strategy.
Public Sector Digest (PSD), bought Corvee out of Victoria, in a move the software and consulting business hopes will see it grow its services to clients.
“It is exciting. We have something that is different than other competitors we run into. We are all in-house and we push hard,” said Matthew Dawe, PSD vice-president.
“There is a demand for this. There is regulation and legislation to do this,” he said of the province demanding communities better track their assets.
The business located downtown on Fullarton Street employs 80 and by year end, it will likely have more than 100 on staff, added Dawe.
“Our system provides them with tools to develop a long-term financial strategy that keeps condition and risk in mind and budget in mind,” he said.
PSD is a consulting and software development firm that helps municipalities assess the value of their assets, as they must to comply with provincial legislation. PSD also helps prioritize what work is needed on what assets in order of priority to help a municipality assess its liability.
That means the heaved sidewalk and pothole-filled road may be ranked by PSD as assets that need upgrade before that hockey rink and playground equipment, and it will also determine the value of those assets.
Perhaps most importantly, it has developed industry-leading software called CityWide that municipalities can use to assess their assets.
“It is a requirement to provide good stewardship of assets, over roads, and sewers, and we provide the framework and best practice to look at standards and put programs in place to manage assets,” said Dawe.
“We take the budget into consideration (to) determine what is the best bang for the buck — best return on investment.”
PSD has more than 500 clients across Canada.
“Our software has grown over the last year to two years. It has really gone through the roof.”
As for the B.C. business, Corvee is an accounting business that also works with municipalities as a consultant and that makes it an ideal fit for PSD, said Dawe.
“It is a complementary expansion of our business services. They are consulting in financial services. It is a great complement to what we are doing.”
PSD has been in business since 2003 and had revenue growth of more than 50 per cent for three consecutive years.
Matthew Hartney, general manager of financial consulting services at PSD, was owner of Corvee and called the buy, “an interesting marriage. I feel very fortunate. There are opportunities to serve municipalities across Canada,” he said.
“It opens us up for doing more work.”