|By PR Newswire||
|February 11, 2014 05:00 AM EST||
LONDON, February 11, 2014 /PRNewswire/ --
- Colin Gallick leaves Invu PLC having successfully completed turnaround -
Tech industry veteran, Colin Gallick, has stood down as Chief Executive of AIM-listed Invu PLC. After a five-year tenure at the electronic document management (eDM) vendor, Colin Gallick, has left the business having completed a turnaround and successfully de-listed from the stock market.
Having taken Invu into private ownership as a profitable vendor of eDM solutions to the corporate marketplace, both directly and through a specialist Value-Added Reseller (VAR) channel, Gallick leaves the company in sound financial shape with profitable and growing revenues, a strong balance sheet and a very healthy cash balance. It is also significant that this was all achieved without the need for any additional development capital from the shareholders.
In five years with the business, Gallick has built a strong management team, which stays with the company, and has changed the reputation & positioning of the business. Over the last five years the average value of new customer orders has increased 10-fold, with most customers doubling their spend in the first twelve months. Customer churn has also significantly reduced and is now less than 1% for all direct customers.
The reseller channel has been significantly remodelled during this time and comprises a small number of quality organisations in the document management market, rather than being focused on photo-copier dealers as was the case.
In addition, the development of a sophisticated OEM-channel was a key achievement for the business during Gallick's direction. Invu's key OEM partner and Accountancy software vendor is Iris, the leading supplier of business systems to the accountancy sector.
Prior to joining Invu, Gallick was an Executive Director for three high-growth US-based Enterprise Software Companies, the last as CEO. During that time two of these companies achieved a trade sale and the other a highly successful NASDAQ listing. In all, they raised in excess of $50m of venture funding and created over $1bn of shareholder value.
Gallick comments: "Having achieved what I committed to for the board and shareholders, it is now time to move on to new opportunities. I am proud to have worked with the Invu employees, customers and channel partners and I know I leave Invu in very capable hands."
Speaking of his future plans Gallick concludes: "I am now focused on building a portfolio of clients as I embark upon a full-time career as a specialist Non-Executive Director and Corporate Advisor."
For further information:
Please contact Colin Gallick through LinkedIn: http://www.linkedin.com/profile/view?id=480049&locale=en_US&trk=tyah&trkInfo=tas%3Acolin gallick,idx%3A1-1-1