Tuesday, January 22, 2019

News: New jobs hope at Parseq

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Another Rotherham company looks to have secured grant funding via the Sheffield City Region (SCR) to unlock investment and create new jobs in the borough.

Rotherham-headquartered business process and technology specialist, Parseq is planning a £3m project at its Hellaby base having secured a major new contract.

Parseq specialises in mobile and online banking software and technology-led outsourcing services. Every year, it digitises 25 million customer correspondence documents and processes £15 billion of electronic payments. In August, the firm completed the sale of its contact centre division to focus on its Rotherham-based finance and administration division.

The firm has received approval for a £178,296 grant from the Sheffield City Region Business Investment Fund (BIF) to support the investment.

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The £52m BIF invests in businesses that demonstrate growth or the potential to grow. It helps businesses unlock investment in activity that helps their business to grow, become more productive and recruit new employees.

The fund includes a contribution from the Government's Local Growth Fund resources for the city region.

Documents show that the firm has secured new business in recent years and has recently won a major new contract. Fulfilling the contract will require additional premises.

Parseq works with leading blue-chip clients across the banking, utilities, telecoms and local authority sectors.

The company has requested BIF grant support to enable it to invest £3.1m in the construction and fitting out of premises. Two options have been under consideration - the construction and fit out of a facility at Hellaby as well as a cheaper option of leasing premises outside the region.

The BIF grant investment is to support the more costly investment in Rotherham and will generate 38 new jobs by March 2021 as well as a significant number of temporary roles during 2021.

Parseq website

Images: Parseq

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