"The investments made in our web presence, sales team and marketing automation in the past year are bearing fruit," said Ron DeSerranno, CEO of B-Scada. "Status Enterprise, which was released in the spring of 2014, now has commercial deployments and is generating revenue." Numerous pilot projects and integrator feedback on the system indicate that revenue from Status Enterprise will accelerate and grow as a percentage of our total revenue in 2015. Customers have indicated a strong preference for our HTML 5 mobile solutions instead of the Java based solutions offered by our competition. Customers also recognize the numerous benefits an information model based system has over traditional style SCADA (Supervisory Control and Data Acquisition) systems. Services for technology licensing was unexpectedly strong in 2014 contributing to our performance growth. Our current engagements extend well into 2015 ensuring that our consulting services revenue will be strong again in 2015.
We are confident in our ability to deliver long-term growth and profitability. In the upcoming year we intend to invest cash resources back into the company to accelerate growth and to ensure we have all of the sales, development and support resources in place to properly look after our customers and address opportunities that may arise. Our staff, including our Spanish office, has almost doubled in the past year to 24 full-time employees, and we expect to add additional staff before the end of the current quarter. Financial resources will also be invested in marketing activities. Our experience indicates that the long lead time in our sales cycle and marketing efforts requires approximately nine months to impact revenues and profits.
Our new Spanish office has already made some Status Enterprise sales with deployments in South America, Africa and additional Status Enterprise licenses sold in Spain. We are very happy with their progress to-date. We expect that our Spanish office will contribute to revenue growth in 2015, but may not reach profitability in its first year. We have set a target of 25% revenue growth for the Company overall for 2014-2015, but we expect a decline in net profitability as we invest cash resources back into the Company, to absorb the setup costs for the Spanish branch, and account for the possibility of some initial losses from the first year of overseas operations.
As always there are wildcards. We believe that our technology licensing partners remain engaged and quite happy with the licensing arrangements they have with B-Scada. Given that some of these agreements are quite substantial, the loss of even one of these partnerships could have an impact on our ability to meet our revenue target for 2014-2015. We also have some exciting opportunities emerging with Status Enterprise. We have hardware vendors that have expressed an initial interest in reselling the system to their customers and possibly entering into OEM licensing arrangements. Such arrangements could generate some unexpected new sources of revenue. We are always on the lookout for new growth opportunities, be it through partnerships, licensing agreements or possibly acquisitions. While we have no near term plans to engage in any additional financing activities, this could change depending on the type of opportunities that emerge in the upcoming year.
Despite steep increases in fees and obligations for being listed as an OTCQB company, B-Scada has satisfied all requirements and is approved to continue trading on this exchange.
Overall it has been an exciting year. We thank our shareholders for their ongoing support and wish everyone Happy Holidays and a prosperous new year.
B-Scada specializes in the compelling visualization of real-time data. Its visualization technology and SCADA products are deployed in manufacturing, power & utilities, transportation, petrochemical, building automation, and other fields of business where visualization of real time data is critical. B-Scada's in-house expertise and experience has provided them the opportunity to partner with companies from various vertical markets, and assist them to develop custom solutions that meet their specific needs. B-Scada's goal is to help clients transfer real-time production and operational data into actionable information through graphically-compelling, functional, and intuitive user interfaces.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like "believe," "expect" and "anticipate" mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: general economic conditions, the results of potential future business in our pipeline, the financial and operational health of our prospects and customers, acceptance of new software and improved versions of our existing software by our customers, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, a sustainable market and many other which have not been stated. Further information on our risk factors is contained in our quarterly and annual reports as filed with the Securities and Exchange Commission.