2015 Asia-Pacific Gold Winner - RXP Services Limited
Company: RXP Services Limited, Melbourne, VIC, Australia
Category: Company of the Year – Computer Software and Computer Services
Entry Title: RXP Services Limited
RXP is a client focused, Practice Led organization comprising 9 Practices:
• Strategic Advisory Services
• Project Services
• Change and Communications
• Cloud, Security and Identity Management
• Enterprise Service Management
• Process and Content Management
• Business Intelligence and Information Management
• Applications Development
• Integrate and work as “one RXP”
• Group specialist capabilities in a way that optimises engagement with clients
• Are structured to support optimal delivery while providing our staff with career progression and learning opportunities
• Focus on a core area of specialisation, making them capable of delivering stand-alone services and solutions through to enterprise scale, multiphase projects that leverage cross-practice capability and domain expertise
RXP was founded in 2010 by the Fielding brothers, Ross and Paul, and floated on the ASX in November 2011. Since 2011 RXP has:
• Grown from a team of 2 to 500+
• Acquired and integrated 13 businesses into 9 Practices
• Offices in Melbourne, Sydney, Canberra, Brisbane, Hobart and Hong Kong
• Raised over 46 million in funding by end of Financial Year (FY) 2014
ACCOMPLISHMENTS FY 2014
RXP continued to experience significant growth and expansion across the 2014 FY by successfully executing the companies 7 strategic priorities:
1. Grow our people and capabilities
2. Grow RXP brand awareness
3. Grow our client base
4. Increase Practice penetration
5. Develop & expand our Practices
6. Develop & expand our partnerships
7. Develop & expand our geographies
Financial highlights from FY 2014 include:
• Total revenue increased 85% to $56M (up from $30.2M FY13)
• PBT increased 90% to $9.3M (up from $4.9M FY13)
• PBT margin improved to 16.6% (up from 16.3% in the prior year)
• At the close of the financial year, RXP had $18.4M in cash with zero debt and net cash assets (current assets less payables) of $25M
• RXP’s staggering growth was achieved in an environment where its peers listed on the ASX achieved less than double digit growth or negative growth (ASX: SMX, UXC, DWS, OKN, ASG)
Growth highlights from FY 2014 include:
• Total staff numbers grew by 98% to 420 (up from 212 at end of FY13)
• 46% of staff growth was organic
• Staff retention of greater than 95%
Strategic Priority 1
RXP continued to invest in the development of its people in terms of their skills and capabilities. Two notable programs were launched during FY 2014.
The ‘7 Habits of Highly Effective Consultants’ program adopts and blends best practices from the existing body of knowledge with proven and tried methods developed by RXP. The program assists staff to break down professional and personal barriers to achieve increased levels of success, health, wellbeing and personal happiness and aligns RXP values with all RXP staff actions.
The ‘RXP Lean Agile Methodology’ training educates consultants how to improve engagement, collaboration, transparency and acceleration across portfolios and projects.
Strategic Priority 2
RXP introduced a dedicated Marketing Team to plan, execute, evaluate and report the performance of marketing initiatives against strategic priorities, resulting in increased communication activities and raising RXP brands awareness.
Strategic Priority 5
RXP successfully acquired and integrated another 6 businesses; businesses that have brought to RXP very specific and targeted capabilities, all of which have strengthened the overall value proposition of RXP.
Strategic Priority 6
RXP continued to develop meaningful and enduring partnerships with technology companies (across the spectrum from “challenger” technologies to mainstream) which has taken RXP to a new level and is delivering results for RXP and its clients.
Strategic Priority 7
The Acquisition of Insight4 in Hobart Tasmania, introduced a new office and access to a diverse range of Private and Government clients and allowed RXP to launch its “Near Shore” applications capability; a capability that has provided RXP with an increased level of workforce flexibility and efficiency that has proved to be highly beneficial to RXP and its clients.