18 Feb 19

Record growth for Sofico

Sofico has finished its 30th anniversary year with a record turnover of €34.7 million. The company ascribes its success to its growth strategy, which focuses on product innovation and presence in local markets.

A Belgium-based global provider of auto finance, leasing and mobility management software, Sofico counts 258 full-time employees, has over 50 system implementations completed and offers its Miles solution for contract management in 24 countries worldwide. Its turnover for 2018 was 16.4% up over the previous year. 

In terms of innovation, Miles.next has expanded Sofico’s product offering with a cloud-native micro-services architecture boasting a decision-support framework and turning the existing Miles Core ERP application into a hybrid solution platform. 

This enables customers worldwide to meet the changing demands of the global automotive market. 

Local offices
In the past three years, local offices have been established in the Netherlands, the UK, Germany and Mexico. Each office works on local implementation projects in addition to providing support to existing local customers.

Sofico Services Netherlands for example, posted a steady annual increase of 15% in turnover since it was founded in 2016. Over that period, staff increased from 5 to 22 and the number of vehicle contracts managed grew by 25%.

The new local offices are in addition to offices established earlier in Australia, Japan and France, increasing the number of those outside Belgium from three to seven. The offices in Mexico, Australia and Japan act as a hub for customers in the Latin America and Asia-Pacific regions respectively.

“Our customers have benefitted greatly from our continuous investment in Miles, while Miles.next has allowed us to widen the scope of our solutions in line with the way the global market is developing towards Mobility-as-a-Service,” says Gémar Hompes (pictured), Sofico Managing Director. 
“As a result, Miles is now a true hybrid contract management system capable of meeting the needs of a global market where the effective management of multiple business lines and different mobility solutions is becoming an absolute necessity.”

Authored by: Frank Jacobs