DUBAI, UAE/PRNewswire/ -- Dubai-headquartered manged IT services specialist iSON Technologies is pleased to announce the results of its recent business transformation plan.
With a presence in 25 countries in Africa, the Middle East and the ASEAN region, the business boasts a client base that includes the likes of IBM and Cisco and is regarded as one of the largest independently-owned operators in its geographic area. With a view to building upon this platform, the firm has recently completed a significant repositioning of the business, providing a strong foundation for the company's ambitious plans for future growth.
The immediate impact from this process can be evidenced by the company's expected results for FY19, a reported EBITDA of c.US$2million, following a loss-making FY18 as the business completed its transitional phase.
By the end of 2021, management expect turnover to reach approximately US$50million, with an EBITDA of $8million around four times the FY19 figure. iSON remains confident of achieving these targets as around 85% of the FY21 forecasted revenue has already been identified from opportunities within the company's existing pipeline and customer base. In addition, around 90% of the company's revenue is already recurring revenue.
The company credits its recent success and anticipated growth to the business transformation plan which management initiated in 2017 and finalised at the end of 2018. iSON's business reforms have broadly fallen into two categories: internal, structure-oriented transformation; and actively-induced alterations to the client base.
For example, iSON strategically took the decision to exit numerous, low-margin, legacy contracts, replacing them over the last 9-12 months with several highly profitable new ones, including its largest ever contract, worth over US$10million. iSON has also been successfully migrating customers to managed service contract models, providing high visibility of future earnings.
The business has also significantly revised its structure and strategy, orientating its service portfolio around five core areas identified as high-value targets: Infrastructure Technology and Transformation Services, Contact Centre Technology, Enablement, Digital Transformation and Service Integration, and Utilities.
Rahul Srivastava, CEO of iSON Technologies, said: "We are very pleased that our transformation plan has had such a rapid and profound effect on our bottom line, further strengthening the service we provide our customers. With a strong pipeline and an openness to strategic partnerships, we are looking to continue to grow and capitalise on new opportunities and markets in the years ahead."
Sapience Communications, global@sapiencecomms.co.uk, +44(0)203-195-3240
SOURCE iSON Technologies
© Press Release 2020Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
