As the CEO of this highly-dynamic and fast-growing company, I’m living the dream. There is probably just one chance in life to build a strong global firm that represents the industry standard for Client Lifecycle Technology solutions – and Fenergo is swiftly becoming the trusted partner of choice for this across every part of the world.
We're well on our way to achieving our goal of an IPO listing in 2020. There are a number of factors that are contributing to this.
Growing Client Community
You’ve probably seen our latest news announcing BNP Paribas as our newest client. In addition to this, we’ve signed a further 12 banks across the USA, Canada, Australia, Singapore, Netherlands, France and the UK.
Also in 2017, 14 of our clients have gone live on our CLM solutions – 6 in EMEA, 6 in North America and 2 in APAC – and we have supported 20+ clients in post go-live events. You can read more on this later.
Now with 60+ banks in our client community with direct input into our regulatory and product roadmaps through our various client forums (monthly regulatory, UI/UX and technology forums), our ability to build the industry standard for CLM technology is hugely accelerated.
One of the biggest highlights of the year for me was when we brought our global client organizations together for the first time in one location for the Global Client Council. For three days, from 21st June to 23rdJune, we hosted 50+ senior level professionals (C-level and MD level) from 28 financial organisations across 7 different countries, as well as senior representatives from partner organizations. We decided to bring that global network of clients together for the very first time, giving all our clients the unique opportunity to meet their counterparts and peers from other financial institutions across the world for three days of learning, sharing and great networking opportunities. We'll share our 2018 dates for our next Global Client Council in the coming weeks.
Internal Transformational Change
Transformative change is not only for banks it seems. Over the last 12 months, Fenergo has undergone a radical internal transformation to position the company to achieve our global ambitions.
To serve a growing, global client base, we have doubled the size of the global Fenergo team, from 300 in March 2017 to over 600 today. R&D and Professional Services received the lion’s share of this headcount as part of our commitment to invest in the innovative and seamless design, development and delivery of Fenergo solutions.
We have also invested €12m in R&D for the Fenergo product specifically, expanding our regulatory rules set to over 70+ countries. We plan to increase this spend to €20m in 2018. You can read more on this under Joe and Niall's articles.
To really scale the organization, we’ve examined how we’re delivering in the market. To expand our implementation capabilities in the global market, we have trained and certified 300+ partner professionals across Europe, Americas and APAC to implement our solutions seamlessly.
We need to continue to mature our own delivery capabilities. To this end, we’ve launched a Strategic Delivery Transformation Program designed to help us scale and improve our implementation processes. The program consists of workstreams delivering incremental and transformational change to drive industry best practice and increase agility and integration across Fenergo’s Delivery experience. There are several streams to this including deploying a standard tools-based configuration and non-script-based configuration/coding. It also involves instilling a high-quality culture within our teams and embracing a continuous improvement approach to creating a predictable and consistent way to deliver quality solutions every time for our clients.
A Dedicated Client Success Division
In the same way we want to help banks deliver a truly positive experience for their customers, we too are striving to deliver an exceptional client experience for you. To this end, we’ve created a new Client Success division.
This will be led in EMEA by Rob Henley, led by Mick Furlong in North Amercia and a new executive, yet to be appointed in APAC, which will support every client from an account management perspective.
The CSM team will be responsible for being the Client Manager for each client, navigating them through the process and various Fenergo teams – from Sales to Professional Services, Customer Support and through to our Community Engagement Programs. The main objective of this team is to ensure clients achieve full ROI from their Fenergo solutions and to ensure Fenergo fully lives up to its reputation of being a trusted partner in CLM.
The New Year already promises to be a busy one. But for now, I’d like to extend a very big thank you to you for your continued trust and support of Fenergo. I wish you and your families happy holidays!