Digital start-up specialist, State of Matter, has signed off on a bumper first 12 months in the Australian market, achieving key milestones during its first calendar year of operation.
The Melbourne-based business has signed 11 new clients in the enterprise, mid-market and government space, generating an annualised income of $9 million, while growing to over 40 staff members, with plans to double the team in 2017.
Founded in 2016, State of Matter is the brainchild of Leigh Parsons - founder of professional services firm, CharterMason - and Dave Stevens - founder of the Australian managed services provider, Brennan IT.
“State of Matter offers a true alternative to the traditional consultancies, bringing new and innovative approaches to business and technology transformation and change management,” State of Matter managing director, Leigh Parsons, said.
This is crucial in a digital world where organisations face complex, demanding, expensive and disruptive tasks.”
Specifically, State of Matter services are organised around core competencies including organisational change, management consulting, project delivery, business analysis, digital and governance.
“Digital disruption can be difficult to navigate effectively, so agility is absolutely critical,” State of Matter executive director, Dave Stevens, added.
“Few businesses can afford to keep spending more and more on their transformation. They need a partner that can keep their projects on track and their costs under control so they can achieve the organisational change they need in less time and at a lower overall cost.”
For Stevens, the early success of State of Matter during the first year of operations highlight the “significant demand” for consulting services in Australia.
“Many of the traditional consulting firms, local and international, are not meeting expectations,” Stevens added.
“Being a mid-sized business, State of Matter takes a different approach to traditional consulting firms, and this is what our clients value.”
Stevens said State of Matter is advising key business leaders in finance, healthcare, energy, gaming and government, working with some of the biggest Australian organisations, as well as mid-market players.
The company plans to continue expanding its customer base in 2017, with the aim of doubling its revenue, especially in the healthcare and government space where it sees strong growth opportunities.
“We see large organisations, including government agencies, widening their bid panels to smaller organisations,” Stevens added.
“This is very exciting and opens up many growth opportunities for State of Matter. 2017 will definitely be a key year for the whole consulting ecosystem.”
Looking ahead, State of Matter will also “maintain a strong focus on the mid-market”, applying business transformation best practices and strategies used for large-scale projects to small- and medium-sized businesses.
“We plan on speeding up our growth in 2017, through both organic growth and acquisitions,” Parsons added.
“We are especially looking into technology acquisitions in order to strengthen our expertise in areas that are set to become hot topics for Australian organisations in the next three years.”