Just 12 months after being bought out by its management team, Leamington Spa-based internet services provider Networks newmedia is forging ahead in the market for specialised association management software.
A series of new account wins, including Birmingham Forward, British Dressage, Coventry & Warwickshire Chamber, The National Association of Estate Agents, Brunel University and the Universities of Loughborough, Middlesex and Reading, is taking the business forward.
Now firmly established as a specialist in the membership organisation sector, the company, which is broadening its services, expects to exceed its business plan targets for its second year of operation.
Managing director Pete Waters and production director Cameron Buxton bought the business from C& C Communications Group with private equity funding from Midven and from a private investor, Keith Smith.
Mr Smith, now nonexecutive chairman, says that the business has been restructured under the current management and has focused on its core strengths to achieve its current position in the market.
As a result, he says, profitability has increased by 30 per cent and is predicted to increase by a further 45 per cent over the next two years as the business brings its specialist expertise to a wider market.
He said: "Networks has put its target market under the spotlight and examined ways in which it can add real value to its clients' service offer.
"Its ability to develop user-friendly, interactive websites that enable members to communicate easily with the organisation and with one another quickly pays dividends in terms of cost savings and improved communications.
"This is the way forward, not just for membership organisations but for many businesses that want to develop closer relationships with their customers. Networks has established its leadership in the field and can apply its expertise to a wide variety of market sectors in the future."
Mr Waters added: "We have developed our service to a level where we can enable clients to create an online community, and operate secure online joining and renewal systems, as well as conduct surveys in real time.
"As specialists in data management we understand association-specific issues such as retention and communication, and the tension between having to cope with high levels of administration, whilst striving to offer members appropriate benefits.
"Our service has been designed to deliver enhanced member involvement and a reduction in costs, whilst still providing a distinctive site for each individual client."
Currently employing 11 staff, Networks newmedia expects to take on more early next year.