What IQM Software does

IQM Software is a UK-based, founder-led software company established in 1990 that designs and delivers bespoke Software-as-a-Service solutions for highly regulated industries, with UK railway and transport operators as its dominant customer segment. Its product portfolio centres on two purpose-built applications — TEAM, a fault diagnosis and in-service defect management platform developed in close collaboration with railway engineering teams, and Revenue Shield, a revenue protection and prosecutions management system — alongside a customisable SaaS platform that delivers configurable reporting, data management, and customer support modules without requiring client-side installation. Technically, the offering is browser-delivered with automatic updates, integrates with existing client systems, and is built to evolve with each customer's operational requirements rather than as a one-size-fits-all product.

The company operates a consultative, sales-led go-to-market: engagements move through research, product implementation, training, and ongoing support, with quote-based pricing on multi-year subscriptions rather than publicly listed tiers. Its primary customers are Train Operating Companies such as Govia Thameslink Railway, Great Western Railway, First Capital Connect, TransPennine Express, Abellio Greater Anglia, First Great Western, and LOROL, with secondary segments identified in NHS/care, property, security, and freight/logistics. Headcount sits at 1–10 employees, led by Technical Director Stewert Gallington (with the company since the early 1990s) and Head of Strategy Thibaut Decré, and the firm holds ISO 9002 quality certification. Revenue, funding, and partnership data are not disclosed, and there is no evidence of external institutional investment.

Name

IQM Software

Legal name

IQM Software Ltd

Website

https://iqmsoftware.co.uk

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

1–10 employees

Short description

IQM Software is a UK-based, founder-led SaaS provider established in 1990 that designs bespoke software — notably the TEAM fault diagnosis platform and Revenue Shield — primarily for UK railway and transport operators and other regulated industries.

Ownership category

akta.pro rank

Product category

Bespoke Enterprise Software

NAICS

Custom Computer Programming Services (541511), Computer Systems Design and Related Services (54151), Computer Systems Design Services (541512)

SIC

Services-Computer Programming Services (7371), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

IT Incident, Problem & Change Management Platforms (HDAEALAI)

akta.pro secondary industries

iBPMS (Intelligent BPM Suites) & Process Automation Suites (HDAEAHAG), ITIL/ITSM Process Consulting & Implementation (BPAEAJAB)

Keywords

• Bespoke software solutions
• Railway software
• Enterprise SaaS
• Fault diagnosis software
• Revenue protection software

Headquarters

HQ city

Hove

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. SaaS Subscriptions: IQM Software operates as a Software as a Service (SaaS) company, providing made-to-measure software solutions on a subscription basis. Clients access software via the cloud without installation requirements, with automatic updates included. The company has maintained long-standing client relationships spanning over 25 years, indicating recurring revenue from existing customers.
2. Professional Services (Training): Full training services included as part of the software package, with additional bespoke training available for organisations in small groups or one-to-one sessions.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

IQM Software designs and develops made-to-measure (bespoke) software solutions to simplify and streamline key business processes within organisations. Operating as a Software as a Service (SaaS) company since the early 1990s, the company delivers tailored applications with customisable reporting, data management, and incident management capabilities for highly regulated industries, particularly UK railway and transport operators. Their named products include TEAM (fault diagnosis software) and Revenue Shield (revenue protection and prosecutions management).

Product overview

IQM Software is a bespoke software solutions company operating as a SaaS provider since the early 1990s, offering made-to-measure software solutions primarily to highly regulated industries. The product portfolio includes TEAM (fault diagnosis software for railway fleet management and incident management), Revenue Shield (revenue protection and prosecutions management system), and a core customisable software platform. The company positions itself as providing tailored solutions that scale within the UK or internationally, with services encompassing research, product implementation, training, and ongoing customer support.

Differentiator

Problem solved

Functional benefit

Brands

• TEAM: Fault diagnosis software developed for railway operators to manage in-service defects and incident management.
• Revenue Shield

Products and services

• TEAM Fault diagnosis software designed for railway fleet management. Enables in-service defect management, incident management, and fault tree development for performance improvement. Allows integration with existing systems and can be updated as requirements evolve. Used by Train Operating Companies (TOCs) for engineering asset management and reducing delay minutes and cancellations.
• Revenue Shield

Quantifiable outcome

• Reduced delay minutes and cancellations through improved incident management
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• AtkinsRéalis (SNC-Lavalin): AtkinsRéalis provides engineering, digital, and consulting services to UK rail operators including bespoke software and systems integration for asset and operations management. It competes for the same enterprise rail-custom software budget as IQM.
• Cubic Transportation Systems: Cubic Transportation Systems delivers large-scale fare collection, real-time passenger information, and operational software for transit agencies worldwide. It is a broader incumbent operating in the same rail/transit software category as IQM.
• Hitachi Rail: Hitachi Rail provides digital asset management, fleet operations, and signalling software to rail operators globally. It is a broader incumbent with overlapping capabilities to IQM's TEAM-style fault diagnosis and fleet operations products.
• Trapeze Group (Modaxo / Volaris): Trapeze (now part of Modaxo/Volaris) is an established global provider of software for public transport operators, including dispatch, planning, and passenger information. It is a broader incumbent that overlaps with IQM in rail operations and incident-management software.
• Sopra Steria: Sopra Steria is a major European IT services firm with a dedicated UK transport and rail practice delivering custom software, integration, and managed services. It overlaps with IQM on enterprise field-sales bespoke delivery for rail clients.
• Capita plc: Capita delivers IT services and software to UK rail and public-sector clients, including operations support and incident management tooling. It is a broader incumbent that competes with IQM for enterprise rail IT contracts.

Emerging players

• Freshworks (Freshservice): Freshworks Freshservice is a cloud-based ITSM/ESM platform for incident, problem, and change management used by enterprises. It is an emerging SaaS alternative for the incident-management capabilities IQM builds bespoke for railway clients.
• Optibus: Optibus is a cloud-based operations platform for public transit and bus operators, addressing scheduling, rostering, and service reliability. It is an emerging player in adjacent transit operations software that overlaps with IQM's workflow and process-streamlining value proposition.
• SaaS firm: Bizagi: Bizagi is a low-code process automation and iBPMS platform used by enterprises to digitize workflows including incident and case management. It is an emerging player in adjacent BPM/iBPMS tooling that competes with IQM's process-streamlining offering.

Direct peers

• 3Squared: 3Squared is a UK-based software company delivering bespoke and configurable digital solutions to the rail industry, including asset management, incident management, and rail-specific apps. It is the closest direct competitor to IQM Software in UK railway bespoke SaaS.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IQM Software