Sydney-based e-commerce integration company Balanced IT Services has come in on target and doubled its profit for the 2000 financial year.
The company's managing director, John Perkins, told ARN the steady growth of the integrated e-commerce company can be attributed to a decision to increase the services element of its sales.
"About three years ago, we decided to move away from the box moving model and offer a more complete service designed to provide all the necessary infrastructure to get a company online," Perkins said. "Since then, we have doubled our staff on a yearly basis."
For 2000, Balanced IT Services reported a revenue of $25 million, up from $18.5 million in 1999, and a profit of $1.8 million, up from $900,000 in 1999. The company currently employs 58 people.
According to Perkins, the e-commerce direction did not pay off immediately. Rather, it was a gradual process which saw the company fulfill an educative roll initially.
While growth is good, it brings with it new complications, as the company grows from small to mid size.
However, according to Perkins, planning for the growth has been in place for sometime.
"We basically divided the growth preparations into three phases. First, we took care of the physical infrastructure so that we could actually service the growth. So we spent some time on practical issues like re-equipping our offices."
Perkins said the second phase was more difficult, because it required a change in management practices which saw him hand the reins partially over to others.
"It is quite difficult to hand even a small part of the business over when you are used to being in control," Perkins said.
The final stage of the shift will involve what Perkins refers to as "processes and procedures". Now we have to actually implement the changes and begin to function as a mid size company," he said.
Balanced IT Services currently services a mixture of mid-range companies and government contracts including NSW Police, Rail Access, The Ready Group, Freight Corp and Rothschilds.