Falanx Group Ltd (LON:FLX) Chief Operating Officer John Blamire caught up with DirectorsTalk for an exclusive interview to discuss their latest contract win, overseas opportunities, the recent managed cyber security service contract and the outlook for MidGARD for the rest of the year
Q1: First off, congratulations on securing this latest contract for MidGARD. How significant is this award for you?
A1: This is a real step forward for us, it’s a fantastic client, they’re highly sophisticated and therefore it’s a very strong validation on the service, the technology and the people we have in the business.
With having multiple locations around the world, partly through their own organic growth and partly through acquisition, they had a very complex requirement to be able to monitor across lots of different estates, lots of different technologies in a very distributed manner. Therefore, they needed something that was advanced and flexible enough to be able to deal with this level of complexity, so we’re delighted to be in an awful lot of competition to win their business.
Q2: So, do you see further overseas opportunities for Falanx?
A2: Yes, we do. However, at the moment we’re focussing very much on UK business, the UK is the world’s second largest digital economy so there’s a huge amount of business to be done here in the UK. As this contract also shows, we have the ability to look after and support UK businesses who have overseas offices and distributed networks. So, yes, we will be doing more and more business overseas and in time we may even look to locate some of our own sales capabilities overseas, but we can service clients globally from our own operation sense here in the United Kingdom.
Q3: You’ve also announced a 3-year managed cyber security service contract, when does that start?
A3: It started immediately. It’s a client that we’ve known for some time and we’ve given them small parts of our service portfolio and they took the decision that they wanted to outsource everything that they required to us and also expand that part of their business across a greater part of their estate and so just continues to grow.
We’re finding this is happening more and more with clients that we start with one part of our service portfolio and then, over time, when they understand what we do and how well we do it, they then basically hand everything over to us.
Q4: What do you think the outlook for MidGARD for Falanx Group is for the rest of the year?
A4: We have a very strong pipeline, a lot of the businesses in this pipeline are very similar to the £700,000 contract we just announced, these are multi-year deals with recurring monthly revenue which of course gives us fantastic visibility over our future earnings and revenue.
We’re now looking at other ways of being able to offer our technology which will also appeal all the way up to large, very large, enterprise businesses and so, as far as we’re concerned, the future is very very bright.