CASE STUDY

Turnaround

Company

ESTABLISHED

1999

HQ

Canada

EMPLOYEES

3,800 (from 20,000)

INDUSTRIES

Banking, Government, Education, Legal, Healthcare

CUSTOMERS

1m+ global (SMB, mid-market, large enterprise)

SOLUTIONS

CyberSecurity, Mobility, Critical Event Management (CEM), Unified Endpoint Management (UEM)

ROUTE-TO-MARKET

30% direct sales; 70% channel sales

PUBLIC LISTED

NYSE

Challenge

This NYSE-listed mobile handset business was on the brink of bankruptcy and haemorrhaging cash. The challenge was to stem the revenue decline and turnaround the company to being a profitable, and growing B2B enterprise cyber security software business.

Solution

Return to growth by streamlining systems and processes, transitioning to a software business through acquisition and development. To deliver this, we:

Streamlined the GTM model and product portfolio from eight companies into one, with an integrated enterprise software platform;
Delivered business transformation and sales initiatives: Strategic programs, sales enablement, strategic deal support, customer discoveries, compliance and value selling and sales qualification (BANT, MEDDIC);
Rebuilt and re-enabled the GTM team: replacing 40% of sales reps, hired A-players, expanded field team by 120+ headcount (sales, channel, business development, inside sales, pre-sales, customer success and field marketing);
Built a scalable partner program with 600+ resellers, including distribution, service providers and systems integrators;
Expanded into new markets, including emerging markets (Middle East, Africa and Eastern Europe).

What was achieved

Annual recurring revenue: $169m (+23% YOY)
Annual revenue via channel partners: $123m (73%)
Annual net-new business from partners: $53m (130% YOY)