Industry: IT Consulting Services & Software product development
Location: Toronto, ON Canada
Year of Incorporation: 2014
Investment Entry: 2018
Appficiency Inc. is an Oracle Netsuite Alliance Partner specializing in ERP consulting services on the Oracle Netsuite Platform. In addition to professional services, Appficiency also has a suite of propriety software products that provide enhanced functionality to the native Netsuite Platform.
Capficiency was attracted to appficiency's depth of technical capabilities, reputation for outstanding service quality, reoccurring revenue characteristics, and experienced management team. The business also presented many opportunities for growth, including:
Leading market position in high growth, recession-resistant industry.
Expansion into complementary service lines and release of additional software products.
Increasing global demand for digital transformation services.
Realization of operational efficiencies.
An attractive platform for bolt-on acquisitions in a highly fragmented market.
Capficiency in partnership with management aims to create value by enhancing the company's operational capabilities to take advantage of unmet demand from their existing channels and customers and facilitate the launch of new products and services to unaddressed markets.
Capficiency executed strategic initiatives that has elevated the appficiency management team to overcome many unique business challenges and achieve accelerated growth.
Actions taken include:
Led the global expansion of appficiency’s products and service offerings to new global markets.
Recruited talented senior professionals into leadership positions to lead new regional verticals.
Instituted a suite of operating metrics and KPI’s to optimize operational efficiencies and monitor company performance.
Developed a robust talent recruitment program, leading to increased target acquisition, and lower turnover.
Since its investment in 2018, Appficiency has grown revenue by 6X and increased its consulting base by over 10X. Other achievements include being awarded Partner of Year - North America by Oracle Netsuite.