The Group’s objective is to become a one stop shop global supplier of governance, risk and compliance products and services, as the Directors believe that the legal, regulatory and commercial standards relating to these areas will become increasingly common across the globe. As a result, organisations will need to put in place procedures and practices that will enable them to demonstrate that they meet the necessary standards and to continuously test their compliance with those standards. The Directors believe that the Group’s customers will want a supplier who is able to supply all of their IT governance needs creating opportunities for the Group to cross sell its services to its existing customers. The Group has a strong track record of organic growth and intends to grow its business in the following ways:
Expand existing services in existing markets
The Group had approximately 4,000 credit billing customers in the three year period ended 31 March 2017. The Directors consider that there is substantial scope to grow its customer base. In addition to winning new customers, the Group also aims to grow by extending the range of services delivered to existing customers.
Expand existing services into new jurisdictions
The Group currently serves customers from its offices in Ely and Drogheda and will be able to service clients from offices in Edinburgh and New York. The Group will seek to extend its international reach to cover new jurisdictions and is considering new offices in Asia and the Middle East. The Group has, in the period 1 April 2017 to 31 December 2017, recruited sales and marketing employees in its EU head office covering France, Germany, Italy, Spain, Belgium and Holland, and sales and marketing contractors in the US, Dubai and Singapore. The Group has an ambition that non UK revenues will ultimately exceed UK revenues.
Adding new services to deliver to existing and new clients
The Group will continue to evaluate market demand for new services, products and propositions to deliver to both existing and new customers in both existing and new jurisdictions. The Group has a successful track record in introducing new products and services. It began as an online seller of books on IT governance in 2005 and over time has now expanded into training, consultancy, technology services and software. The Group is considering expanding its offering from primarily data protection and cyber security training and consultancy into other GRC areas where organisations need to train their staff so that the organisation can meet related compliance obligations such as anti money laundering and anti bribery. The Group believes that these requirements are or will become international and organisations will need to meet and to be able to demonstrate that they meet a common standard, and that their processes for so doing will need to be integrated into seamless internal processes.
Make selective acquisitions
In addition to organic growth, the Group will consider small scale acquisitions of businesses that own complementary technology and intellectual property, offer access to new markets or territories or extend the Group’s existing capabilities and the range of products and services offered to its customers.