Client profile: Comtec
Comtec is a market leading provider of technology solutions to the travel industry. It is unique in providing systems and services to both tour operators and travel agents.
Comtec’s proprietary software is focussed on the leisure market. Their solutions enable leisure travel suppliers and intermediaries to increase their revenues whilst also enhancing their business efficiency and profitability.
The software covers all functions employed by a leisure travel company including front, mid and back office capabilities. Its leading edge connectivity enables travel businesses to access potentially thousands of airline, hotel, car rental and other ancillary travel industry supplier offerings from around the globe.
Comtec already held a market leading position in the UK and recently embarked on its next stage of growth by capturing its first major North American customer, vacation.com. This resulted in an opportunity to achieve market penetration in the huge North American travel market. However, this would require the development of a new product and the recruitment of a large, specialist team of people to deliver both the initial project and the rollout.
We supported them by:
Reviewing the existing business plan and financial projection documents to consider the funding options;
Drafting tailored documents based on the existing resources to meet funder requirements;
Project managing the funding process including arranging and attending meetings, preparing documents for submission, answering queries and providing a contact point for both the client and funder; and
Supporting through to offer letter negotiation and draw down processes.
What the client said about us
“The project represents a major step change for the company in terms of activity levels, but the opportunity arose at a time when the funding landscape was difficult. MHA Broomfield Alexander were able to analyse our position, suggest routes and then navigate them with us, fully project managing the process. This enabled us to get on with running the company and ensuring that the project opportunity was not missed.”
Matthew Wakerley, Finance Director, Comtec Europe Limited