Following a change in their ownership and board they have accelerated the R&D for their product and, last year, turned their focus to the sales of their services. Their initial low level success was a constant headache to their CEO and so they asked Magnatec to perform a review for all the elements of the business.
Subsequently, we were installed as a Consultant Commercial Director tasked with making IT cost savings and increasing sales and presence within the market.
It is fair to say that this is an ongoing engagement but the initial points tackled were :
The primary focus was around lowering costs – this was achieved by looking at all costs, where the CEO could not see the wood for the trees, as to where the money was going every month. Simple analysis of legacy and redundant services allowed an initial cost reduction on various services, this was followed up by contract re-negotiation on the services that were still required. In some instances gaining 35% lifetime discounts.
The next obstacle was to increase sales and presence within the market – this is not a simple exercise but we started making changes to the way Infomatrix were approaching certain aspects of their business. As an example we set up a monthly business development meeting to start brainstorming the approach to market and creating a sales pipeline. It took a few months to get the format, agenda & personnel right for the meeting but now it is an invaluable insight for all areas of the business.
The creation of company social media and an investment in staff training for the likes of LinkedIn etc. were done to help create presence.
This is a great success story of operational consultancy that isn’t complete – (as of May 2019) we are still working with infomatrix moving them forward on various sales and now starting to look at the organisation structure of the business, there will be more for this story ……..