A fast-growing Scottish business software specialist has undergone a dramatic restructure to prepare it for its next phase of expansion.
The internal reconfiguration will see Eureka Solutions focus on distinct product areas which have been identified as likely to yield high growth. The announcement of the new structure comes shortly after the firm revealed it had seen turnover grow by 2% to £4.5m their most recent financial year.
Meanwhile the shake-up also means a new management top team is in place at the East Kilbride firm, with some of its most talented operators promoted internally.
That includes David Lindores, newly appointed as CEO after a successful stint as Technical Director and Gillian Livingstone, who moves from Finance Director to become Chief Operating Officer.
Between them they will now oversee development for the company’s dedicated new business divisions: Lindores leading the delivery of globally-renowned productivity tool, Oracle NetSuite; Livingstone delivering its proprietary tools, including the innovative Cloud Data Exchange, which enables widely different business tools to work together, and delivery of Sage business systems
Mr Lindores said: “The changes we’ve made are radical, but were also essential. We’ve gone from being a small business founded in 2004 to having 65 staff with blue chip clients all over the UK.
“Meanwhile, we believe we are on the brink of realising the global potential of our own, bespoke software integration platform. We want to be ready for the growth and the opportunities that will bring. The changes we have made are part of those preparations.
“These are incredibly exciting times for Eureka Solutions and for the highly-skilled and motivated team who have made this possible and deserve major praise for getting us here.”
Founded in 2004 to support SMEs with their financial systems, Eureka Solutions quickly became a leading software developer in its own right, creating products to enhance the renowned accountancy and book-keeping software, Sage. It has been named “Sage Developer of the Year” five times.
Further diversification followed in 2012, when it added NetSuite to its portfolio. It has since built a UK-wide list of clients, becoming NetSuite’s Partner with “Outstanding Performance of the Year” in the UK and Ireland for 2020, and is now one of just three “Five-Star” NetSuite partners in the UK.
Its expertise in streamlining processes for its customers, means Eureka Solutions has invested heavily in the development of technology that connects disparate business systems, reducing duplication of effort and errors.
Now bosses believe its proprietary tool – Cloud Data Exchange – has the potential to propel the business to global player status, and is a major influence behind the recent restructure.
Mr Lindores added: “Taking a step back, and looking at the way our business was organised in relation to the size and complexity we have reached, was an insightful experience.
“The vast majority of our staff are technical – across technical sales, development, implementation and support. We could see that continuing to have one large team delivering the different products and services we provide could potentially restrict the growth of the business.”
Meanwhile, the restructure also marks a conscious shift in mentality for the firm, from a small business to being a larger company with clearly defined divisions. Leadership hope a laser-like focus on distinct product areas will also bring development rewards for the company’s staff.
Gillian Livingstone, the new COO, said: “Our people are our most valuable resource, and the rate of staff turnover at Eureka Solutions is impressively low because developing and motivating our workforce is always a priority.
“Our team is well-established and includes many people who were originally recruited as graduates. The new divisional structure creates clear career progression opportunities for them. In turn, that can only benefit our customers as we support them through their own growth.”
Eureka Solutions has enjoyed consistent growth in recent years, built on its two guiding principles – being technically excellent in its field and delivering outstanding customer service.
The nature of the products and services also means the company was ideally placed to weather the challenges of the pandemic. Its cloud-based systems enable its customers to work from anywhere, and give real-time financial visibility and the ability to adapt and make fast decisions.
Likewise, by enabling businesses to connect key systems, it helps them to streamline processes and take pressure away from often strained resources – which was vital during lockdown when the majority of employees were working from home.
Existing customers are UK-wide and vary from start-ups looking to save time by integrating systems with Cloud Data Exchange to allow them to focus on their growth, through to complex, multinational businesses consolidating world-wide operations with NetSuite.