Role No: 978 

A Non-Executive Director (Non Exec, NED) is required with software, IT business development capabilities to join an IP rich “Software as a Service” (SaaS) company, based in Hampshire and Southern California.

Our client enables efficiency technologies for business software licensing. With the help of government funding the company has developed a fully functional cloud based software metering and efficiency analysis technology which identifies where organisations are wasting money on unused software and services. The company is starting to see considerable demand for their new technology from medium and larger organizations in both public and private sectors where they are striving to gain cost efficiencies in their purchasing of IT. The company is active in the UK and has growing sales through partnership deals in USA where there is considerable interest in the company’s technology.

With a strong sales pipeline and existing customers established the company expects over £700k of revenues in 2015/6. The company is trading profitably and seeks to prioritise revenue growth over the next few years.

Our client is looking for a Non Exec to assist in scaling the business & we are looking for candidates with business development experience and specific expertise in:

  • with IT/software companies who have clients in government/corporate organisations;
  • developing operational processes for supporting business growth through partners in both Europe and USA;
  • a proven record of successful growing & exiting from a software/IT business.

The Non-Executive Director will be encouraged to become a shareholder in the Company to align the incoming Non Exec’s interest with that of the existing Directors who are all shareholders.

Business Concept:

  • The company developed a software usage metering technology 18 months ago from a legacy application. This concept has now been fully productised moved into larger public and private sector organisation.  Our client now has two main offerings:
    • A cloud based software usage meter which identifies who uses what software for how long. Customers can compare usage to licensed software and identify potential areas for cost savings or compliance risk
    • A managed service which provides improved usage of software assets and cost efficiencies as an outcome for customers. The service can be provided on a risk and reward basis with considerable opportunities for cost savings.
    • The company has been accepted by the Government G-cloud purchasing framework.
    • The company currently has four Directors including the MD and they anticipate revenues of £700,000 in 2015/16, growing to £5 million in 2018; the latest month’s sales are the best ever for the company.
    • The founders are looking to ‘exit’ the company within five years.
    • The company has recently opened a USA sales office and has already signed a number of value added partnerships and end user sales.

The Market:

  • The Software Efficiency Report by Opinion Matters in 2011 claims the overspend on unused software in the UK to be £1.7bn per year, amounting to £330 wasted per year on average for every PC in the UK.
  • A study by Gartner in 2008 (“Cost Cutting by Effectively Using Existing Software” by Patricia Adams Feb 7th 2008) suggested that enterprises that meter application usage can achieve license savings of up to 25% in the first year. This benefit is qualified by the requirement to use software metering technology that is quick to implement and holistic
  • The North American market is 50% of the world market while UK is 5%

Non-Exec Director Role/Requirements:

  • Software/IT sector business development experience and specific expertise in working with clients in government/corporate organisations and or developing overseas markets through distributors or sales partners.
  • Proven track record of developing operational processes for supporting business growth through partners;
  • Proven track record of establishing and then successfully growing & exiting from a software business.
  • It is expected that the role will require approximately 2 days per month.
  • The Non Exec will be encouraged to become a shareholder in the Company to align the incoming Non Exec’s interest with that of the existing Directors who are all shareholders. The company is still small enough to be registered for the EIS scheme which provides 30% tax relief and up to 100% capital gains relief subject to status.

The Non Exec will receive a remuneration package which includes share options (based on achieving set revenue and profit milestones) plus commission payments on any introduced sales.

Applying for the role:

If you feel that you meet the criteria outlined above, please apply for this role by clicking on the above link if you are already registered with us or by registering your CV via the link on our home page and then clicking on the 'click here to apply for role' on role 978

N.B. This memorandum should not be considered as a recommendation by the Shareholders, the Company or any of their respective subsidiaries, affiliates, representatives, partners, directors, officers, employees, advisers or agents to acquire the shares in the Company, and recipients interested in buying shares in the Company are recommended to seek their own independent financial, legal and other advice.

This role will close on 15th October 2015

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