Dutch software developer sees growth spurt

A EUR 12-million loan extended under the InnovFin MidCap Growth Finance Facility under the EU's Horizon 2020 programme and backed by the European Investment Bank is helping Dutch software firm Planon transfer services to a cloud-based model as part of a major growth initiative.

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Countries
Countries
  Algeria
  Argentina
  Australia
  Austria
  Bangladesh
  Belarus
  Belgium
  Benin
  Bolivia
  Bosnia and Herzegovina
  Brazil
  Bulgaria
  Burkina Faso
  Cambodia
  Cameroon
  Canada
  Cape Verde
  Chile
  China
  Colombia
  Costa Rica
  Croatia
  Cyprus
  Czechia
  Denmark
  Ecuador
  Egypt
  Estonia
  Ethiopia
  Faroe Islands
  Finland
  France
  French Polynesia
  Georgia


  Infocentre

Published: 24 April 2019  
Related theme(s) and subtheme(s)
Information societyInformation technology
Research policyHorizon 2020
Special CollectionsFinancial Instruments (InnovFin)
Countries involved in the project described in the article
Netherlands
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Dutch software developer sees growth spurt

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© nd3000 #141376707, 2019 source: stock.adobe.com

Founded in 1982, Planon creates software to help organisations improve their real estate, facility and service management processes. Although not as big as some of its competitors, it has grown steadily, becoming a market leader.

The company employs more than 600 people in 11 countries, nearly half of whom work at its headquarters at Nijmegen in the Netherlands, many in R&D. Over 2 000 clients use Planon’s solutions worldwide, supported by a global network of offices.

In the past, clients have typically bought licences for Planon software. While keeping its existing licences, the company is now moving an increasing amount of its business to a ‘software as a service’ model in order to meet demand. This means hosting programmes on its cloud and giving clients remote access.

As the shift involves extensive R&D and a move from upfront payments to service contracts, which raises costs and delays revenue, Planon needed a loan. It subsequently became the first Dutch ICT company to get one under the MidCap Growth Finance Facility.

Jos Knops, Planon’s global finance director, says InnovFin was by far the best option compared with more traditional financing solutions.

“The flexibility and set-up of the agreement is perfect for realising our ambition of becoming a world leader in our field and at the same time investing further in innovative world-class software solutions for our customers,” he says. “From day one, the EIB showed a comprehensive understanding of our business needs and the transaction was finalised in a very short time.”

The change is part of a long-term strategy for the development of software and cloud solutions to support smart building management and bring about improvements in areas like energy efficiency. Some of the loan is also being spent on Planon’s highly successful Planon Universe integrated workplace management system.

Project details

  • Project acronym: Planon
  • Participants: Netherlands (Coordinator)
  • EU contribution: € 12 000 000

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