Helping Innovators Succeed
Our second example is of a Software as a Service company that needed to develop new sales channels and find sources of funding for its growth strategy.
SmartSimple · Toronto, Ontario
Based in Toronto with an expanding European office in Dublin, Ireland, SmartSimple provides a Software as a Service solution (SaaS) for organizations needing to replicate business collaborative processes securely over the Internet around the world. The base technology supports the company’s four vertical markets: Insurance/Medical Case Management, Research and Academic Grants Management, Not-For-Profit Funding and Building Management. With a customer base of more than 200 clients, brand value clients include Allstate Insurance, Science Foundation Ireland, Siebel Foundation and Del Properties.
Introduction to the ISCM
SmartSimple had been in business for about six months when company president Mike Reid learned of ISCM through the University of Toronto Innovation Foundation in 2003. In search of both business advice and contacts – and concerned about how to go about identifying and accessing the range of support offered by federal, provincial and regional governments to technology start-ups – Mike turned to ISCM to help expand his networking base and identify sales and funding opportunities. ISCM President and CEO Bob Glandfield and ISCM’s team of mentors met with SmartSimple to determine its business needs and review its growth strategy to ensure the company was going in the right direction.
Scope of Work
ISCM provided invaluable advice to SmartSimple to fine-tune its growth strategy and further develop its market, and introduced the company to a range of government, agency and business contacts. According to Mike, the advice and contacts provided were instrumental in helping SmartSimple to grow, resulting in both support and new business opportunities for the company. A number of the contact organizations themselves eventually became SmartSimple customers as well. With ISCM’s guidance, SmartSimple was able to strategically increase its network and market share, significantly heighten awareness of the company in targeted vertical markets, and successfully realize its growth strategy.
Results
With ongoing support from ISCM, SmartSimple has grown from three employees since its inception to a staff of 22, and continues to add to its team an average of two employees each month. Sales have increased by 50 per cent a year. As the business expands both in size and complexity, Mike explains that ISCM’s expertise and availability as a sounding board will be invaluable to keep the company focused on the next stage of growth. "Our successes wouldn’t have been possible if it wasn’t for ISCM and its network of experts," Mike says.
