Hello, everyone! This big news from Prophix gives me an opportunity to offer my perspective - and to introduce myself to the Red Carpet members.
I have worked with Prophix in various Services, Sales, and Marketing roles for nearly a decade. I happily accepted the newly-created role of Chief Customer Innovation Officer in November of 2020. Simply put, I have responsibility for ensuring our customers maximize the value from their investment in Prophix. I look forward to getting to know you!
Now on to the Hg investment. These are exciting times for Prophix and 2021 will be a transformative year for the business. Through the economic challenges of 2020, the demand for Corporate Performance Management (CPM) software increased and Prophix, as a leading provider in this space, saw strong growth. We were fortunate to be in a position of organizational strength and stability while evaluating potential investor partners. It is especially exciting that Prophix employees and management will be participating in this investment!
Hg’s investment in Prophix will help accelerate and scale our growth and fund further development of our product capabilities. There is tremendous market and growth opportunity for Prophix. We will continue to target the mid-market, which is a unique approach in the CPM space.
As we explained in a letter that went out to all of our customers, Hg is keen to have the existing Prophix management team continue to run the business. Hg’s majority ownership stake in Prophix will have no impact on how we work with our customers and partners. Prophix is now supported by an investor with a broad network of resources and capabilities that will allow us to provide an even better customer experience.
If you have a comment or question for me or anyone on the team, please let us know here.
I see the potential benefits of a capital infusion. I’m a bit concerned about how the new majority stakeholder’s financial goals will affect the previously proven and reliable win/win balance between customer value and company benefit.
If all works well, this infusion of capital will enable greater speed to achieve enhancements that would otherwise be a long ways off. Time will tell.
Congratulations on this achievement- here in the UK we are hoping that having a London based investor means more UK customers to connect with soon. best wishes to all.
Thanks for sharing your perspective Bob. I’m sure others may share your thinking, and as you said, time will tell. We are extremely excited about the partnership with Hg and the fact that the management team and employees will be working together to drive success and value for our customers, and therefore for us as well. Our goals - financial, cultural, etc. - appear to be extremely well aligned. 2021 will be an exciting year for all in the Prophix family!
This was a bit of a surprise as my organization is just starting implementation. But we’re looking forward to deploying Prophix and hope that Hg’s investment makes a great product even better!
I just want to make sure that Prophix keeps it’s amazing friendly and supportive culture. I feel like a real person when talking to anyone at Prophix and not just a client or #.
Great new! Congrats Susan on the new role. It great to see other investments flowing into a awesomely run CPM provider, but hopefully this culture of having a great product with amazing customer service &interaction stays intact.
