Ireland's Top Partnerships Increase Revenue and Accelerate Growth

On the 9thof November the Irish Software Association held their annual awards ceremony, recognising the finest achievements in the Irish Software sector. One of these categories was Most Successful Partnership; this model has now been recognised as a formidable path to success. It has been said that a compromise is where both parties lose, however a partnership is where both parties win.

The companies nominated utilised their symbiotic relationships  to develop new business, expand into new markets and increase their product offerings. Over the last number of years Ireland,  and particularly Dublin, has positioned  itself as a global leader  in technology development. Whilst some of the world’s largest international  players have taken up residence on our green isle, through forward thinking initiatives like the NDRC (National Digital Research Centre) Launch Pad and the Web Summit, Dublin is becoming synonymous with original tech start-ups. However it is imperative that these new business take advantage of the connections and experience more seasoned international organisations can offer them.

This year’s ISA’s Partnership award went to FeedHenry . A firm hungry for success that took advantage of the opportunities a guiding hand can offer. This company provides a locally developed platform that simplifies the development, integration  and management of secure mobile apps for business.

ISA Awards

Donagh Kiernan of Tenego Partnering presenting the ISA Partnership Award 2012 to Joe Blake, VP of Sales, FeedHenry , with Karl Flannery, Chair of the ISA

“The winner of this year’s Partnering Award presents an outstanding example of how a company can start and build on a partnership to open new international markets and grow revenues.” Donagh Kiernan, on presenting the award.

Partnerships like this don’t land in your lap every day, however through development of a highly innovative product that filled a gap in the market the team at FeedHenry were able to secure a partnership with O2 and subsequently Telefonica. Thanks to this partnership they now receive over 30 percent of their revenues from Telefonica and expect this revenue stream to grow exponentially in years to come.

 

Why has this partnership been so successful?

1. They Need Each Other

Often viewed as a one way withdrawal account, a partnership must in fact be a two way street for sustained longevity. Take the old story of Microsoft and IBM for example, whilst initially mutually beneficial once Microsoft felt exploited by IBM’s contract terms their partnership disintegrated. Telefonica gives FeedHenry access to a huge database of 300 million potential customers (if only they were all developers) and FeedHenry gives Telefonica a new valued service that will in turn increase their own revenue and client base. Ask not what your partner can do for you, but what can you do for your partner !

2. They Occupy the Same Space

They have the same target clients, business partners and development process. This allows both partners to merge their efforts and facilitate accelerated growth by reducing duplicated time and maximising resources. It is also important to have shared values and organisational goals to ensure that whilst merging endeavours your own brand identity and work ethos are not lost.

3. The Partnership was Scalable

Before they went global, they went local. The model was initially tested in Ireland with the likes of Aer Lingus and PWC to examine the validity and possible outcomes of such a partnership. This mitigates any potential risk in expansion.

Feed Henry

The FeedHenry team managed to get their hands on the iPad 15 

It is no coincidence that the other nominated partnerships all adhered to similar criteria. These included:

  • ePubDirect with Randomhouse UK
  • Espion with Symantec Clearwell
  • Nathean with Ocuco
  • Sun Life Waterford with WIT (special mention)
All of these partnerships are shining examples of the accelerated growth your organisation can benefit from by choosing the right partner. The path less travelled is often viewed as more adventurous and perhaps even entrepreneurial, but you can save a lot of time by learning from the accomplishments and even mistakes of other partnerships. Whilst mimicking successful partnerships is not a proven formula it is definitely a worthwhile exercise. These are the type of stories that Tenego are part of everyday!

Whether you want to learn about other partnerships or explore possibilities for your firm contact us at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

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Thursday, 15 November 2018
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