FishTech is thinking big with expansion plans across three continents and an attempt to brand the emerging enterprise application integration (EAI) market as its own.
Preferring FishTech to be categorised as an enterprise integration information (EII) business, managing director Nicholas Fish is preparing to conquer the $60 million Australian market by opening an office in the UK. "People in Australia will take more notice of us when we can tell them we are an international company," said Fish.
The UK sales and marketing office will be opened within the year, according to Fish. FishTech is also in discussions with an agency in Japan to host a FishTech operation, to be finalised by June next year.
The US will be similarly targeted but will take a little longer. "I won't be surprised if it takes 12 months to move into the US because we have to get it right," said Fish.
Success for Fish depends on the ability of his company to leverage alliances and global partnerships, a strategy he has followed through his three-year relationship with IBM and more recent alliance with accounting software developer Solution 6.
"We want to connect with global systems integrators and independent software vendors that have global clients. Solution 6 is both of these and it wants to resell our technology internationally," said Fish.
Fish is also looking at aligning FishTech with one of the big five accounting firms. "We have been approached before by one of them but just weren't ready. Now we are so have started discussions," explained Fish.
FishTech will continue to focus on the customer relationship management and e-business solution spaces and Fish expects the globalisation and alliance plans to increase its current revenue and profit significantly. "We are on track to experience triple-digit growth and capture 20 to 30 per cent of the EAI market in Australia," he asserted.
Yet Fish is aware the company's growth strategy can not indefinitely rely on profits it has generated through product sales and is investigating the merits of several capital injection options.
"We are undergoing a due diligence process now to discover the best way forward. There are no plans for floating but in this market in the next three to five years there is a very real likelihood that something will happen," hinted Fish.
In the short term Fish is looking at strategic alliances, joint ventures, acquisitions and venture capital funding. "It is a trade-off between equity in the company and growth."