We worked with an rapidly growing business to grow and succeed in a transformative market.
It is not unusual for young rapidly growing businesses to focus on the top line to gain profitability. While this can be very effective, it often comes with building a cost base that is not optimal for best profitability. This creates a business transformation opportunity to reduce costs.
The expansion of Easynet, one of Britain’s first internet service providers, followed this rapid growth trajectory. Over a few years the company moved from selling dial-up packages into broadband provision, and then into a full range of business communications services: virtual private networks, data centres, and virtual meeting room video-conferencing. The business grew from zero to employ 1000 staff, mostly around Europe, with offices too in the US and China.
While profitable on its £250m turnover, there was scope to boost profitability considerably further with an A-to-Z cost management programme.
While managing the UK business, Phil led the company's global cost management programme. Over five years, £27m of annualised non-headcount spending was saved to benefit the bottom line.
Complementing these cost savings, Phil was at the helm in setting up an expanded 150 person Customer Services Centre in Somerset in 2013, relocating all functions from the previous network operations centre in much more expensive central London.
Easynet Global Services was later bought, achieving a higher sales price for its shareholders as a result of these cost reductions.