Corum’s high aspirations
August 28, 2015
Corum Health has confirmed
intentions to “reassert itself as
the leading software provider to
the pharmacy sector,” with the
company yesterday saying at the
start of 2015 it had recognised that
its clients were “not being provided
with adequate service levels”.
As well as this, software upgrades
in Corum’s LOTS system had
been “proceeding too slowly,”
and correcting these deficiencies
became the Board’s main mission.
Since then the company has
undergone a restructure, but
“trading conditions in the pharmacy
sector remain challenging, with
reduced margins and increasing
operating costs impacting
customers’ businesses,” according
to the Corum full year results
announcement.
Corum reported $19.3m in
revenue for the year to 30 Jun,
down almost 5%, with an 8.3%
increase in after tax profit to $4.6m.
The company said the flow-on
effect of difficult trading was
caution in terms of software and
hardware upgrades, with some
clients driven to “seek less featured alternatives which are cheaper”.
Despite this Corum “retained its
strong #2 market share position in
the pharmacy software industry”.
Corum confirmed it had also
experienced a reduction in
pharmacy customer numbers.
Major technology initiatives
undertaken this year include
migration of the software from
the previous MS Access platform
to Microsoft SQL server, materially
improving performance.
Dedicated “CORUM-HUB”
mini-drives have been installed
at no charge in each pharmacy to
allow faster processing, improved
reliability and cloud access.
And the new LOTS ONE product
has launched, offering “numerous
enhancements and updates, with
further enhancements planned”.
Going forward Corum aims to
grow its market share in pharmacy
software, both organically and via
“tactical acquisitions”.
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