In a bold move, The Technology Group sets its sights on doubling its revenue, projecting to reach £5 million by the end of 2018.
Building on its remarkable growth since inception in 2011, the Leeds-based company has laid out strategic plans focusing on acquisitions and customer growth to achieve this ambitious goal.
Company Background and Recent Performance
Founded in 2011 by Jonathan, Richard, and David Marsden, The Technology Group has become a prominent provider of business telephony, internet, and mobile solutions, notably offering cloud-based VoIP services. In 2017, the company reported a revenue of £2.6 million and aims to double it by the end of 2018. This goal is projected to be achieved through strategic expansions, including acquisitions like Exchange Comms in October 2017, enhancing their service portfolio.
Strategic Growth Plans
The managing director, Jonathan Marsden, has outlined a clear strategy for growth focusing on customer acquisition and expanding through further acquisitions. “Having achieved phenomenal growth over the past 12 months, and indeed since the business was formed in 2011, our next plans for the future are expansion through acquisitions and continued increase of customers via an effective sales target,” said Marsden. With a strong emphasis on sales and strategic partnerships, they are well-positioned for significant advancement.
Key Partnerships and Expertise
The Technology Group has bolstered its business capabilities by engaging Garbutt + Elliott as their accountancy firm for business planning and financial management. Jeremy Oliver, a partner at Garbutt + Elliott, expressed enthusiasm for the collaboration, noting, “This is a very exciting time for The Technology Group as it looks to continue the excellent growth it has seen since 2011.” Such partnerships provide crucial expertise and insights that facilitate sustainable growth.
Market Reach and Employment
Operating from offices in Leeds, London, and Welwyn Garden City, the company employs 28 people and serves a diverse client base. These include prominent sectors such as the NHS, education, and recruitment. Their comprehensive service offerings cater to the specific needs of these sectors, ensuring effective communication solutions with an emphasis on reliability and innovation.
By catering to the specific communication needs of diverse industries, The Technology Group provides tailored solutions that significantly enhance operational efficiency. This focus on reliability and innovation has helped them secure a strong foothold in these key sectors.
Future Outlook and Industry Impact
As The Technology Group continues to expand, the impact on the telecom industry is notable. The company’s forward-thinking approach and dedication to quality service have set a benchmark for others. Their strategic investments in technology and human resources aim to meet growing demands, promising a significant influence on industry standards moving forward.
Through continuous improvement and strategic expansion, The Technology Group is poised to play a leading role in shaping the future of telecom services in the UK.
Challenges and Opportunities
In pursuing aggressive growth targets, challenges such as market competition and technological advancements present ongoing obstacles. However, these challenges also present opportunities for innovation. By staying ahead of market trends and consumer needs, The Technology Group can potentially leverage its strengths to overcome these challenges and continue on its growth trajectory.
Conclusion
The Technology Group’s ambitious plans embody a bold vision for growth and innovation within the telecom sector. With strong leadership, strategic partnerships, and a commitment to quality, the company is well-prepared to not only reach its financial goals but also to establish itself as a leader in the industry.
The ambitious targets set by The Technology Group reflect a strong commitment to growth and a strategic approach to seizing market opportunities.
The company’s focus on innovation and quality service delivery positions it well to achieve its objectives and solidify its industry standing in the coming year.