In most industries it’s almost impossible to topple the dominant player once they’ve become established.
IT however, is not like other sectors of the economy. It’s a sector where the largest and most powerful companies need to innovate constantly, to focus on customer expectations and emerging technologies in order to maintain their pre-eminent position.
Our own trajectory from total outsider to number one in the logistics software sector in the course of six years demonstrates that market dominance is of no particular advantage in an industry where the only way a company can add to its value is to constantly innovate. Even the most powerful companies, which in other industries would have established an unassailable lead in the market, become yesterday’s heroes unless they find a way to not simply do what others are doing but to stay ahead of the current.
Yesterday we announced that our revenues grew 63 percent in the last 12 months, and that our customer base increased by 33 percent. This means there are now more than 90,000 ediEnterprise software licenses live across a customer community of more than 4,500 sites, in over 85 countries. Last month alone we signed on 54 new customers of all sizes, and now 21 out of the top 25 largest global freight forwarding and logistics operators use our software.
In the next 12 months we’ll aim to get this growth over 100 percent annualized, something which others say cannot be done, but we can see a clear path to achieving. We have taken pains to establish our systems, brand, market presence, technology and people to grow even faster.
In most industries a dominant player arises and stays in that position, because market dominance itself is an advantage. But anyone who’s been around for the last couple of decades knows that dominance is not a particular advantage in the IT sector. It doesn’t matter whether it’s IBM, or Microsoft, Apple or Kodak, the company is only successful for as long as it can continue to add value, innovate and change, otherwise it will become yesterday’s hero.
IT is an environment with none of the traditional barriers to entry, and as a result it will continue to create massive wealth and opportunity for anyone who’s willing to challenge conventional wisdom and look for ways to do things differently.
We are succeeding because unlike our competitors we long ago realized that being a global company had nothing to do with where we were located, but with whether or not we could create software which could be sold over the net, and quickly and easily installed by customers all over the world.
We realized that the transition from a national provider of technology to a global company was in fact a design problem not a geographical problem, and that our business would only ever be limited by the speed at which light travels through glass. So what used to require days of travel time, huge cost, pain and jetlag is now reduced to an internet latency of 200 milliseconds between Australia, the US and the EU.
But what’s important to remember is that none of this growth is a mistake or the result of some happy coincidence. We’ve grown to number one because we were able to look at where our competitors were, and choose a much more innovative path. We rejected the conventional business model and the idea of “best practice”, because by its application “best practice” actually trends towards average, and we wanted to be much better than that.
We’ve rebuilt our license model, adopted and offered cloud hosted systems and we’re now rebuilding our training and delivery mechanisms so as to make it even easier for customers of all sizes all over the world to adopt our software.
The bottom line is there is enormous potential for us, and that potential is reflected not only in our current position but in the way we constantly innovate and embrace change.
This industry will be the major catalyst for growth and change across the entire economy, we have embraced that culture of change and innovation and growth, and as a result we will continue to grow, this year, next year, and well into the future.
Richard White is CEO and Founder of CargoWise®
Media Contact: Lisa Tree, firstname.lastname@example.org