This, Gore continued, stemmed from the provider’s focus on getting more involved with security, as well as the vendor’s breadth of scope matching up with Calibre One’s own offerings.
Despite all the success that has come from Calibre One’s merger, it didn’t exactly start out that way. During the process, the decision was made to change approximately 90 per cent of its systems — including accounting, customer relationship management, enterprise resource planning, customer satisfaction and ticketing systems.
“We just didn't have anything on either side of the companies that was really perfect for the new ideal company," Gore said.
The merger also brought to light some significant financial stress for the newer Calibre One. Following the end of the merger, around October to November, the provider was starting to come together, which included its finances.
What the newer Calibre One found was a million-dollar debt sitting unfunded on its balance sheet.
“We had to do something about it because we couldn’t really technically classify ourselves as solvent and we had to sign off on that,” Gore said.
“We were forced to very quickly come together and basically review and draft a plan and say, 'Right. Well, this is where we're currently at today. These are the changes that we're going to need to bring our monthly deficit that we're making in terms of losses into a profit, and we need to do that really quickly.’
“We needed to work out how we can cut costs, how we can increase revenues and how we can plug this gap on our balance sheet within literally a couple of months so that we can claim we're solvent and start building it from there.”
Over a few days, a plan to address the debt was drafted. Fast-forward nine months and not only did the provider manage to flip its debt into positive territory but it also had one of its best financial years on record.
“That got us ready for this next journey of COVID and having to think big, make the right decisions, get them in place and ride through the pain," Gore said.
The path ahead
Wherever that next journey is headed, Calibre One has come to come to a fork in the road, as its two year strategic planning cycle is set to conclude by the end of its current financial year.
The two options available for the provider revolve around where it should invest next — should it stay the course and bolster its existing markets, or branch out into new markets that have only shown up due to the coronavirus pandemic?
“I can't give you an answer to either of those because in all honesty, we're still deciding,” Gore said.
“Do we take the safe route, and just continue to reinvest into the existing areas, or do we take the new bold route, because maybe now's the right time to take that opportunity to do it when the market is so mixed up?
“Maybe there's opportunities available now that weren't available earlier and take that leap of faith, and extend our market footprint and further.”
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