Technology businesses are not for the faint of heart. Platforms change. Protocols change. Consumer behavior changes. And keeping pace with those changes is what makes good companies great.
Sometimes keeping pace means the need to make fundamental changes to a company. Such was the case of Avanquest. Over the past several years Avanquest has undergone a very comprehensive—and very successful—transition to a new online business model with a more streamlined approach and a focus on fewer business units and fewer business initiatives.
In fact, so much has changed at Avanquest that the new company we have built does not resemble the original in many respects. And it’s at times like these when a new company name is in order—a name that befits the strategy in place and the staggering successes we have already seen since beginning to execute our ambitious plan.
Claranova speaks to our unfolding initiative because it embodies our two strategic objectives, clarity (“clara”) and newness (“nova”).
Newness: Claranova is a brand new company in all important respects. We practice renewed focus and discipline. And the results speak for themselves: We have returned to strong revenue growth. We have turned a corner to improved year-over-year profitability. We have seen significant improvement in cash flows. All three of our business units are strategically driven and leaders in their spaces—and one of our business units, is now profitable, the largest share of the group’s revenues and providing a handsome return on the group’s investment.
Clarity: For many years Avanquest was difficult to understand. The company was a patchwork of often unrelated businesses in disparate verticals and geographies. The Claranova strategy brings clarity to the group. We do only three things—and we do them spectacularly well. We share key metrics for each of those business units, and our stakeholders now have a firm and detailed understanding of exactly what we do.
Claranova remains focused on:
We have solid competitive advantages with which we are undertaking the writing of a brand new chapter in our history. Many opportunities exist in our industry; with this new strategy Claranova has returned to its role as a pioneer of innovation.