EDIStech becoming an Award Winning Company – Part 10
So, what was the impact on our Business Performance?
Recap of previous blog
In our previous blog we discussed EDIStech’s decision to include all staff in part of the strategic planning process. I also wrote about adopting an Open Book Management approach and the benefits this had on our team.
Proof of the Pudding!
Over the past nine blogs, we have revealed some of the management strategies we implemented at EDIStech that shifted our company from a ‘Run of the Mill’ IT company to an Award Winning Business (Westpac Business Awards 2018). The award we won, “Excellence in Customer Service Delivery” was particularly pleasing as generally speaking, IT companies are not great at Customer Service.
But what has been the impact on other parts of the business? After all, to many business owners, the ‘Proof of the Pudding’.
Fluffy Initiatives or Concrete Building Blocks?
We've heard a few business leaders scoff at what they call “Fluffy” initiatives. They view things like Vision and Values as nice to haves rather than MUST HAVES. They say; “You just have to get more customers and build revenue.”
That was our owner’s original mantra. But first we had to build a platform from which that growth was possible. We had a few discussions over the first 18 months of starting this process, but we had to convince him to trust the long term plan for the business transformation, which he eventually did.
So how did EDIStech perform from 2014/15 to the year we won the Westpac Business Awards (2018)?
KPI | % Growth |
Revenue | 20% NB: WE lost a client in 2017 that represented 35% of that years income. So our new business revenue growth was actually 55% |
PBIT | 137% |
Gross Margin | 18% |
Staff Turnover | Reduction from 100% to 7% |
New Clients | 40% growth - 22 new clients in 18 months |
Thanks to all who have followed this Blog series. You will find the entire series on our website - If you have any questions or want to know more about what we have discussed, please get in touch with us!
We would be more than happy to discuss any issues raised in our Blogs and how that may apply to your business.
Best of luck with your own business transformation.
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