Construction industry software specialist Construction Industry Solutions (COINS) has won the Queen’s Award for Enterprise for International Trade in recognition of their substantial growth in overseas earnings and commercial success in the construction sector.
COINS is the first UK construction software company to be given this award, made annually by HM The Queen. Larry Sullivan, founder and group chairman of COINS said: “We are delighted to have won the Queen’s Award, one of the UK’s highest business accolades. The success of our organisation is down to the people in it, who are focused on helping our clients achieve positive business outcomes. COINS draws on over 4,000 person years of construction industry experience, which I believe is unrivalled in our sector. We are very proud of all those employees within COINS who have contributed to this business success.”
Over the past 30 years, COINS has established itself in the UK with a strong customer base, which includes contractors such as Laing O’Rourke, Balfour Beatty, Kier, and Morgan Sindall and home builders Taylor Wimpey, Barratt Developments and Persimmon. In the UK, COINS enjoys a leading market share of the major companies in the construction and house building sectors, with 3 out of 5 of the top construction companies and the top 3 home builders using COINS solutions.
COINS decided to embark on a strategy for international growth in 2008. UK companies who were expanding internationally drove this strategy, and COINS also pursued an acquisition policy that included the purchase of a similar business in the USA. Since then the company has established offices in 10 different countries and has installed COINS systems in over 40 countries worldwide.
COINS provides business systems and consultancy services designed for the construction, contracting and allied industries. Between 2011 and 2013, COINS’ direct overseas turnover increased by 65% and group net profit increased by 144%. During the same period, COINS’ international presence was expanded with offices opening in the United Arab Emirates in Sharjah and Dubai. Rapid growth of business in the Middle East contributed 26% towards total overseas sales (i.e., non-UK) during this period; the United States contributed 60% with the remainder split between, Australia, Far East and Europe.
COINS invested time and resources in making sure their product met the legislative compliances in each of its new markets, in particular with respect to various taxation regimes. COINS has been praised for minimising environmental impact, particularly through the use of technology within the construction sector, such as COINS Electronic Trading Community (ETC) where over one million transactions are carried out a year, eliminating paper delivery notes and invoices.
COINS has demonstrated its responsibility to society with the formation of the COINS Foundation over a decade ago. The COINS Foundation aims to work towards an inclusive global society and has supported many projects worldwide, including rebuilding projects in Haiti, school and community projects in sub-Saharan Africa and a micro-financing network in Uganda. When the office in Dubai was opened, COINS decided to assist with the formation of a local educational centre for children with mild to moderate learning disabilities. COINS also supports The Lighthouse Club global construction charity in the United Arab Emirates, Qatar, Australia and Hong Kong.
