IsoMetrix has grown from strength to strength in FY2017. With a growing solution suite and staff complement, the company is ready for good business in FY2018. Dennis Marketos, Managing Director, discusses the growth and future plans for the company.
Q: IsoMetrix has kicked off 2017 with a bang; do you expect this trend to continue for the rest of the year?
DM: We are thankful that the year has got off to a great start and I believe this demonstrates that our software solutions are addressing our customers’ needs and gaining industry attention. I am particularly pleased that we have been getting significant numbers of referrals from existing customers. We are projecting our growth to accelerate this year as our North American and Australian offices gain traction.
Q: How has IsoMetrix achieved such phenomenal growth despite local and global challenges?
DM: Economic conditions have been quite tough – there are many economic and political headwinds both globally and locally. However, legislative and compliance pressures are not going away, and are in fact increasing. As companies become bigger and more sophisticated they need better ways to address their risk management and risk reporting. The fact that we are successfully delivering great software and solutions that are meeting customer needs and adding value are key factors behind our growth.
Q: How does IsoMetrix’s company culture contribute to its success?
DM: Our strap-line is “Good Business” and one of our key values is Partnerships that Empower. Our project delivery team applies these principles in every project that we are involved in. The project process is not always painless, but we do not put down our tools until we have a happy customer. Our customer retention rate is currently around 96%. That really has to do with who we are as a company that wants to do good business.
We also know that there is great demand for flexible, integrated risk solutions and our software is well suited to this. Standards and legislation are constantly evolving and changing, so agility is essential if our customers to keep up with these changes.
Q: How important are integration and agility in risk management?
DM: We are ahead of the pack when it comes to integrated risk management. Point solutions are limited in scope and fall outside the decision-making criteria for companies interested in an integrated solution. Our agile software allows us to implement solutions quickly. With a more traditional software package, it is harder to go back to the drawing board and elegantly introduce integration that was not there in the original thinking.
Q: Has the staff complement grown in line with revenue growth?
DM: Our staff complement has grown by 20% to support our revenue growth of 35%. This time last year, we were around 73 staff. We are now over 90. We are definitely starting to see economies of scale kicking in and our revenue per head is growing nicely. This shows that we are becoming more efficient and effective as an organization.
Q: How are your regional offices in Perth, Toronto and Atlanta doing?
DM: Our regional offices are doing fantastically! Perth has had a magnificent year and secured a major mining customer. They continue to build both solutions and strong relationships there, and we anticipate that there will be a lot of growth in the region off the back of that.
It is still early days for our offices in North America, but they are off to a great start. Our roll out with a major oil and gas company there is gaining traction and we have won a few strategic deals in South America. We are expecting a significant portion of our future growth to come from North America.
Q: What can your customers look forward to in the next year?
DM: Our customers can look forward to more and more functionality coming through in our solution offerings because there is a lot of research and development going into them.
The big excitement is Version 4, which secures our customers’ investment in integrated risk management solutions for many years to come. It uses the most modern technologies with many efficiency tools to make life easier and more efficient, it has a beautiful design and we cannot wait to bring it to market.