NEWLY promoted Axon CEO Scott Green has been set an ambitious target of raising the service company’s revenues to $100 million within three years. The company’s revenue was $76 million in the most recent financial year, which ended in October.
Green, previously general manager marketing and corporate, replaces outgoing CEO and major shareholder Matt Kenealy.
Axon’s board has been restructured with Kenealy remaining as a non-executive director alongside new board members John Quirk, Brian Steel and general manager of sales Craig Stoddart.
The changes are all intended to accelerate the company’s growth.
Green says while the $100 million reve-nue target represents a significant amount, the company’s growth goal is about more than just hitting a nice milestone.
“Our long-term success depends on our short-term success. We’ve identified a number of important opportunities that are still two to three years out. We’re not going to be in a position to take advantage of those opportunities if we’re not getting quality customers now,” he says.
Another reason for growth is to attract talent. There’s a serious skills shortage in the IT services sector and Green believes a fast-growing, dynamic organisation will find it easier to attract the best employees.
He says one of the biggest opportunities for Axon is the perceived vacuum at the high end of the IT services market, now that services rival Gen-i has been absorbed into Telecom and Oxygen is in the process of finding a buyer.
“We’ve found from when we go out to tender that where there were six or seven organisations competing with us, suddenly there are two or three”, he says.
Green argues Axon’s high-growth strategy won’t be at the expense of profits. “We could just flog $100 million worth of hardware, but that way we would only end up with $1 million profit,” he says.
Instead the main focus will be on building what Green describes as Axon’s more lucrative “annuity services and contract business”.