A YORK business software provider has received a six-figure funding package to support its biggest acquisition yet.

Onesys Group supplies timesheet, project and billing systems across the UK, Ireland and throughout the world.

With the backing of HSBC UK, the Group has bought Sage Coretime, a leading timesheet and project management software used by the professional services industry.

The deal will see Onesys grow its customer base by 25 per cent, helping it to consolidate its position in the marketplace. The purchase also enables the business to make significant savings in the long term as the business was previously licensing the software from giant Sage. Going forward the products will be known as Coretime.

As a result of the acquisition, Onesys expects to recruit four additional staff at its York HQ and increase turnover of this division by 40 per cent in the next 12 months.

Richard Knowles, managing director of Onesys Group, said: “Our growth strategy is centred on making acquisitions that broaden our customer base, as well as our technical skills and expertise. This is the fourth acquisition we have made with HSBC UK’s backing, and it represents a major leap forward for Onesys, as over 800 businesses worldwide use this leading software, with our latest sale today being in Kazakhstan.”

Stephen Smith, of North & West Yorkshire, HSBC UK, added: “It’s fantastic to see Onesys continue to meet its ambitious acquisition-focused growth strategy. HSBC UK has worked with Onesys 10 years and throughout this period we have seen the business grow into a major player in its industry.”

Onesys Group supplies software solutions, including enterprise resource planning (ERP), accounts, payroll and forecasting, to new, small and growing business; as well as more advanced accounting, customer resource management (CRM) and ERP solutions to medium to large businesses.

The Group, which dates back to 1972, supplies businesses across a range of sectors, but specialises in manufacturers and distributors, as well as the professional services sector.

The Group is headquartered in Little Ouseburn, York, and has six offices throughout the UK, employing 47 people.

HSBC UK is working with the Government and UK Finance to identify emerging issues and ensure customers and businesses have the advice and support they need.