Epsilon Net – Turnover will exceed 50 million euros in 2021

The initial estimate of the management of Epsilon Net that 2021 will be a milestone year for the group is confirmed, according to the relevant data, as based on the latest data on sales developments in the 4th quarter of the current year, the estimated turnover of the Group will exceed 50,000,000 euros with a correspondingly significant effect on profitability.

At the same time, a significant quantitative and qualitative expansion of the customer base has been achieved, which is one of the main goals of the management’s medium-term planning , as it will be the starting point for the new development cycle of the group, both in the Greek market and abroad.

More specifically, the announcement notes that the new product group of the Epsilon Smart series of the parent company, which is the most complete web solution of the Group for Electronic Invoicing and the connection with the my DATA platform of the Independent Authority for State Proceeds (AADE) for small and medium enterprises & freelancers, has already exceeded 50,000 subscriptions in about a year of operation and continues its course on a daily basis, with a correspondingly increasing rate (www.epsilonsmart.gr).

Epsilon Smart, guarantees the easy fulfillment of the obligations of Electronic Ledgers, the online connection with the accountant and / or the bank, the issuance of documents and the organization of the daily works of a company, with automatic constant updates of publications, without requiring additional investments in equipment. Works in Web environment, make the most of Microsoft’s reliability and Microsoft Azure technology capabilities. With an emphasis on ease of use and remote access from any device, the solution is available on all Android & iOS devices, working on PC, laptop, tablet and smartphone.

At the same time, it connects online with all the accounting applications of the Epsilon Net group, creating a unified system with the accounting applications, without the complicated traditional file transfer procedures, which adds significantly to the reliability and ease of information management, taking into account the fact that Epsilon Net accounting applications already have an overwhelming share in accounting and tax offices.

In addition, it is worth mentioning that Epsilon Smart, by combining the use of Epsilon Digital, the certified electronic invoicing provider of EPSILON NET, enables the inclusion in the whole framework of the tax incentives that have been established by AADE, offering a complete solution, both for wholesale and retail sales, enabling the complete replacement of the use of a cash register or tax mechanism.

The significant success of this series of products, defines the leading position of the group in the numerous group of small businesses the majority of which did not use Business Software systems in their daily operation, until today. Due to the specific success, but also the overall design for the digital transformation of businesses that is expected to be substantially bolstered by funding from European Structural and Investment Funds 2021-2027 and the Development Fund, it is estimated that in the coming years, in addition to the significant recurring revenues, a significant increase in revenue per customer will be achieved through the promotion of new specialized subsystems (modules) and services.

Based on all the above and the successful completion of the strategic acquisitions of 2020 and 2021, management estimates that the total number of companies of any size, served by the group, will exceed the number of 100,000 customers at the end of the current year.

The significant increase of the customer base, is the starting point for achieving a significant amount of annual recurring income and increasing positive operating cash flows, which are the basis for the continuous growth of the Epsilon Net group.