"We remain convinced that our success will be dependent on effectively managing our technology assets, our data assets and our people."
The 2017-18 year was another big year for our Firm. Having just completed our ten year anniversary last year, we recognised that the next decade of the Firm would require us to think and act differently to be successful in the marketplace. In short, the things that got us here for the first decade were not going to be the things that allowed us to be successful in the next. With that in mind, we set off on a year of building infrastructure, systems, processes and people to run the Firm for the next decade. While this was more inward-focused than I would have normally liked, it was necessary to pause and grow our Firm for it to be successful. We needed to invest and enhance our financial systems, our customer engagement systems and our backend reporting systems.
We needed to invest more in business analytics, a common technology stack (Microsoft Dynamics 365), and systems that would allow us to service our customers way into the next ten years. These developments are well underway and being implemented across the Firm and are part of our strategy to build our business platform horizontally across regions, vertically through our customers and laterally though additional content areas.
The year has seen lots of success in developing our customer base and most importantly developing our product set. The investments that we made in the last few years in new products including our training product (Compliance Interactive®), supplier management (Supplier Integrity®) and hotlines (IntegraCall®) started to get into the market. The significant challenge to get things into the market should not be underestimated; however, we were pleased to start selling some new products and expand our customer base in new markets. We remain convinced that our success will be dependent on effectively managing our technology assets, our data assets and our people. All three divisions of our business need to work together to add incremental business value to our customers.
Going forward into 2018 and 2019, our focus remains on our customers. How can the firm provide them with better experiences, better products, and a more compelling vision on how we can help them manage their business? Our focus is, and remains, to make Compliance a Competitive Advantage through accelerating their business performance through managing risk effectively.
This is an extract from The Red Flag Group Annual Report 2017/18. To read the full report please click here.