Regus, the company that specialises in providing office space and meeting rooms, has revealed that it achieved cost savings of £23.5 million in the first half of 2009 through an aggressive strategy of technology investment.

Revenues for the company rose by 9.8 per cent to £557.4m for the period ending 30 June 2009. For the same period in 2008 Regus reported revenues of £507.5m.

Regus, which offers telepresence services,  has invested in its online reservation system so that clients can view, book and purchase meeting rooms in real time. An automated credit card payment processing system for invoicing has also been integrated in the US and UK.

Regus claim this has reduced costs in administration. A new point of sale software has also been introduced across the global company for its Businessworld customers.

The number of workstations available to customers has increased by 7.9 per cent Regus said, up to 160, 835 from 149,087 for the same period last year. Regus has also opened 23 new centres in the first six months of 2009.

"Although we have seen an increased level of customer churn, we have also seen a large number of new customers entering Regus as they seek a cost effective solution for their business needs," said Mark Dixon, Regus chief executive.

Regus is also pushing its offering away from the business park and into the high street with its service dubbed "office-in-a-box" being incorporated into WH Smith stores. A trail period with the CIO 100 listed retailer has led to a series of selected stores gaining a Regus office.