The firm renewed existing contracts with Liverpool Victoria Friendly Society and National Express Group and has won new business from power supplier Energy Networks, retailer Topps Tiles, financial services firm Certegy and recruitment company Hayes Personnel Services.

Chief executive Colin Davies said the contract renewals had been as hard fought as the new business. The contracts are for two to three years due to the initial investment by etrinsic in winning them.

Theres a lot of planning and due diligence involved with each one. We examine how we can save them money by re-engineering their products, also how they can use our Docugraphics system to save, said Davies.

The 100-staff company has also invested 600,000 on a refurbishment of its 1,400m2 premises in Solihull including a new office faade, completely refurbished offices and a new computer system.

Etrinsic expects to record a 20m turnover for the year to 30 June this year. However, this is expected to be higher next year.

Our target market is companies with a spend of between 500,000 and 3m, although if someone comes along with a 5m spend we would plan and prepare to take them on, said Davies.

Davies will be in Las Vegas later this month to collect an award from the Document Management Industries Association, of which he is the longest-serving international member.