Companies on the Move

Scottish Pacific acquires Bibby

SCOTTISH Pacific Business Finance acquired the Australian and New Zealand business of Bibby Financial Services – one of the world’s first cashflow finance businesses – in February, in a move that aims to compete against the major banks.

Scottish Pacific CEO, Peter Langham said small to medium enterprises (SMEs) and start-ups looking to fund business growth now have improved alternatives outside the ‘Big Four’ banks and broader banking sector. 

“With the acquisition, Scottish Pacific clients will be able to access a broader range of funding and business solutions, all without having to mortgage the family home,” Mr Langham said.
“Business owners make it clear to us, via our SME Growth Index, that far too many SMEs still don’t know about funding options beyond the banks, and when the banks won’t fund them they look to their family and friends or the credit card to maintain and grow their business.
“Scottish Pacific’s offering as a working capital lender for SMEs was already strong and is now even more a comprehensive funding alternative for small businesses looking to grow, whether domestically or overseas,” Mr Langham said.
Scottish Pacific is the only non-bank lender approved by the Federal Government’s EFIC agency to help fund SME exporters, Mr Langham said. It has a strong trade finance division as well as a ‘selective invoicing finance offering.
Mr Langham said in recent years, Bibby’s expansion beyond debtor finance has been into credit insurance, asset finance, a collections business as well as progress claim finance.
“Our expanded team looks forward to working with the SME sector to support their growth.”

Established in 1988, Scottish Pacific has operations centres in Sydney, Melbourne, Perth, Brisbane, Auckland, London and China.

www.scottishpacific.com

 

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KPMG uses Markets IT to drive fintech

KPMG Australia’s acquisition of Markets IT is expected to boost the firm’s depth and scale in the burgeoning capital markets technology sector. The terms of the deal were not disclosed.

Markets IT has developed since 2011 into a leading Australian technology consultancy specialising in financial services. The Melbourne-based firm implements integrated trading, risk management, regulatory reform, trader surveillance, processing and post-trade solutions for both buy and sell-side organisations including banks, clearing brokers, central banks, investment managers and hedge funds. 

In 2013 Markets IT became Australia’s first system integration partner for Murex, a global provider of cross-asset trading, risk management and processing technology.

“Financial services organisations face an unprecedented landscape of rapid change – continual regulatory changes, heightened competition, innovation threats and opportunities, and technology changes,” KPMG Australia CEO Gary Wingrove said.

“There has never been a greater need in the market for integrated, business-centric technology services for these clients. And effective implementation will require deep subject matter expertise in both business and technology.

“Markets IT is a very timely and strategic acquisition that also supports our global capital markets strategy, and our growing Murex-related services here in Australia as well as in Asia Pacific, Europe and South Africa,” he said.

Mr Wingrove said capital markets had been grappling with regulation challenges for the past five years, but the intensity had increased as implementation deadlines of associated rules, controls and technology arrived. 

“Significant cost cutting pressures provide further complexity,” he said.

“Globally, system consolidation and replacement of legacy technology remains the biggest driver of anticipated technology spending increases.”

KPMG research showed total capital markets technology spending globally is forecast to exceed US$100 billion by 2018, with forecast spend allocated to risk management-related technology rising to over 18 percent of this by 2018.

Founder of Markets IT, Tim Robinson, has joined KPMG Australia as a partner. Co-founder Craig Snell and fellow director John Rusjan also join KPMG as directors together with their team of specialists in Melbourne and Sydney.

Merging with KPMG’s existing Capital Markets Technology team, this creates a combined team of around 40 experts nationally, supported by the group’s existing regional and global capability.

Markets IT was founded in 2011 and has grown rapidly off the back of successful project delivery and strong working relationships with major financial institutions.

“Our growth was driven initially as a provider of Murex services, but increasingly we’re diversifying through delivery of regulatory related technology services including trader surveillance,” Robinson said.

“Market IT’s offering is directly complementary to KPMG’s business, regulatory and technology enablement services and strategic areas of focus. I believe the combination of business platform enablement services, together with KPMG’s brand and broader risk and transformation expertise positions us strongly to become the local market leader,” he said.

“We anticipate further rapid growth in the Australian market going forward.”

KPMG Technology leader, Richard Marrison, who oversaw the deal, said, “Technology enablement is a priority investment area for KPMG. This is the third acquisition we’ve made in this space recently in Australia.  Technological advances will continue to reshape operating models and service delivery in financial services over the coming years.

“The most successful organisations will utilise technology to ease the regulatory burden, and support growth and innovation.”

The Market IT deal is the 11th acquisition by KPMG Australia in the past two years including social media risk consultancy, SR7; the Melbourne team of Pacific Strategy Partners; an accounting practice in Karratha, WA; mining services consultancy Momentum Partners; SGA Property Consultancy; First Point Global cyber security business; accounting and advisory business Hayes Knight (WA); human rights and social impact consultancy, Banarra; Microsoft implementation partner, Hands-on Systems; and The Performance Clinic.

www.kpmg.com.au

 


About KPMG

KPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 155 countries and have 174,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

 

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Australian business racks up global popularity

THE AUSTRALIAN Rhino is now becoming famous all over the world. Rhinoceros may never have native to Australia, but their hardy namesake, Rhino-Racks, are certainly earning a global reputation.

Knowing how tough roof racks had to be to measure up to the demands of the Australian motor industry set former tractor salesman, Richard Cropley, thinking about how to make these handy vehicle accessories better. 

Mr Cropley set to it 25 years ago and today he has turned the humble roof-rack into a multi-million dollar business.

In 1992 he began production of his first set of Rhino-Rack roof racks for his Sydney based business, Roof Rack City. Now stocked in hundreds of stores around Australia, as well as distributing internationally in the US, Europe, New Zealand and throughout South America, Rhino-Rack is Australia’s leading manufacturer of roof racks.

Mr Cropley’s focus on simplicity, ergonomics and reliability in design have helped make Rhino-Rack one of the world’s most reputable brands, while still retaining their Australian roots. Almost all of the production and manufacturing is completed in Australia with Australian materials.

With sales today approaching $50 million a year, Mr Cropley is striving to continue growing, entering new markets and holding onto the philosophy that “being an entrepreneur is a seven-day-a-week job”.

Born in Sydney and splitting his time between the city and the family farm in Goulburn, Richard Cropley spent most of his early career in the agricultural sector, selling tractors after a three year stint farming in Papua New Guinea. Never one to do anything in half-measures, he became the Queensland marketing manager for Versatile Farm Equipment and within a year established himself as the world’s number one tractor salesman.

His journey to become the king of roof racks began in 1987 when a visit to his brother in Perth put the brand Rola in his sights. Rola was a roof rack brand that was one of the biggest sellers in his brother’s yacht chandlery store, so together they bought the brand using all their savings and a bank loan. Within a year they quadrupled Rola’s turnover to $4 million a year.

After just a year, Richard decided to separate from Rola to open up the first speciality roof rack store in Sydney, Roof Rack City – a store he still owns to this day. Seeing hundreds of models of these racks and installing them himself, he had the thought that goes through every innovator’s head, “I can do better than this.”

Designing his own leg mounts and bar, Rhino-Rack Roof Racks was born in 1992. Within 24 months Rhino had contracts with Toyota and Telstra to provide all their work vehicles with Richard Cropley’s roof racks.

The biggest risk, he said, came with the move into international markets, which was hindered by an unforeseen event. The plan to open a hub in Denver was almost derailed by the Global Financial Crisis, which saw retailers of all levels cut back and avoid stocking new products. But Mr Cropley found new opportunities online, right as the boom of online shopping began. Rhino is now stocked on many online stores and close to 100 physical outlets in North America.

An insatiable drive to solve problems and be the best has made Mr Cropley take Rhino-Rack to where it is today.

“With any product, whether it be roof racks, computers or coffee mugs, there is always going to be a better design out there,” he said. “So always look for ways to innovate and change your product. That’s how we’ve kept our doors open while competitors have closed theirs.”

www.rhinorack.com.au

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Novogen gains Aust. patents on potential cancer treatment drugs

US-AUSTRALIAN drug discovery company, Novogen Limited, which is listed on both the ASX and NASDAQ, has announced a breakthrough, with its patent for the superbenzopyran (SBP) drug family being granted in Australia for the potential treatment of cancerous tumours.

This patent covers Novogen’s lead SBP candidates Cantrixil and Trilexium and it provides full protection for Novogen’s intellectual property (IP) for the SBP family until 2035. 

Novogen’s three lead molecules Cantrixil, Anisina, and Trilexium, are in advanced preclinical development for various cancer types, with the most advanced molecule, Cantrixil, slated to enter clinical trials in the second half of 2016.

In addition, the key patent application covering the first lead anti-tropomyosin (ATM) compound, Anisina, has been examined and accepted by the Australian Patent Office. The application has now entered the standard three-month opposition window prior to being granted.

According to Novogen North America CEO, Dr Andrew Heaton, these milestones help validate the company's discovery platforms and represent critical milestones in IP protection. 

“The SBP patent covers a wide range of new chemical entities, including Cantrixil and Trilexium,” Dr Heaton said. “Critically, the patent covers composition of matter, a new abridged method of manufacture, and treatment for a wide variety of cancer types.

“Our key SBP assets are now fully covered in Australia. Furthermore, passing scrutiny in Australia will aid the ongoing global roll-out of this patent.” 

“The availability of the Global Patent Prosecution Highway will permit accelerated examination in overseas jurisdictions, based on acceptance of an Australian application. This provides an opportunity to expedite examination and subsequent patent grant of SBP and ATM applications in a number of key overseas jurisdictions, such as the United States, Japan and Korea,” he said.

Cantrixil has completed the necessary toxicology studies in readiness for the first human trials.

www.novogen.com

 

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New ownership structure at Videopro as company forecasts profit jump

VIDEOPRO executives Jason Derry and Cameron Douglas have taken a stake in the long-standing Brisbane-based audio-visual business, aiming to drive future growth in cloud and software based technology.

Mr Derry, who is Videopro Business Solutions general manager, and Mr Douglas, who is Videopro Business Solutions sales director, have joined founder and chairman Shane Leaney, chief executive officer Ian Wright and chief financial officer Jason Sing as shareholders. 

The ownership changes come as Videopro prepares for an expected 50 percent jump in profit this financial year, thanks to a renewed focus on services, service levels and operational improvements.

Mr Derry, who has been with Videopro for more than 20 years, said this year would be an exciting one for the company.

“Videopro was set up as a retail business when it opened its doors in 1980 and those foundations are still important to us,” Mr Derry said.

“Today more than 60 percent of our business is B2B (business-to-business) and we see that increasing significantly in the next few years. We see real growth potential with the business and are excited about being part of the next phase.”

Last year Videopro’s revenue hit almost $75 million.

Videopro counts Queensland’s biggest universities, the Department of Justice and Attorney General, the Department of Education and Training and Queensland Health among its client list. The company’s wide scope of work has included some of Queensland’s largest audio-visual projects, including the massive job of fitting out the Supreme and District courts in Brisbane.

“We’ve gone from selling standalone integrated AV systems, to network and cloud hosted software led solutions that can provide all kinds of automation and intelligence in just a few years,” said Mr Douglas, 31, who worked for Videopro for more than a decade before becoming a shareholder.

“It is an exciting time for anyone in our industry who is able to innovate and, more importantly, execute change in their business.”

Mr Douglas said the company and its 130 staff were part of Brisbane’s growing innovation sector.

“We work with a lot of startups here and have a real appetite for change,” Mr Douglas said.

“Right now and into the foreseeable future, that change is rapid. Hardware-based technology is shifting across to cloud and software-based technology. The trick isn’t to survive or adapt to the change but to drive it.”

Videopro is also connected to a national business, named Connected Vision, which delivers technology solutions to multi-national companies around Australia. It is in the process of finalising an international partnership deal that will see the company adopting a worldwide approach.

Videopro is still firmly rooted in the Brisbane suburb of Eagle Farm and the new owners say they plan to keep it that way.

“If anything, we have become more focused on Brisbane in the past 12 months and that is partly because of the new opportunities emerging around innovation here,” Mr Derry said.

“We have a 4000sqm premises, with 2500sqm of warehouse and installation staging space and 1500sqm of office area. It’s an amazing set up and allows us to service our customers in a unique way.”

www.videopro.com.au

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Canon shoots for innovation

THE recent concentration of staff and services into new hubs in Brisbane and Sydney is Canon’s innovative shot across the bows of its competitors.

The new city office heralds a new approach in Brisbane, for example, where staff were integral in not only deciding the form and strategic layout of the building, but also providing their own photographic art to decorate the premises – printed on site, of course, on Canon’s large format printers. 

Canon recently released research showing staff must be aligned with the ethos and direction of the company to be successful in this age of disruption. The way Canon is transforming its presence in Australia, starting with its offices to influence work practices and collaboration, is proof that it believes its role as ‘an imaging company’ includes working with staff on the big picture.

Canon Australia and Oceania managing director Yusuke Mizoguchi said the research showed Australian businesses were recognising that the workplace and its people should be at the top of the business agenda – and Canon was making changes to embrace this. The recent opening of a new Brisbane office in Ann St demonstrated Canon’s commitment to collaborating directly with staff to achieve “high performance” working environments that sought out constant innovation, he said.

“We live in a business environment where disruption is the norm and where the necessity for businesses to fully understand, engage and embrace their employees and their customers has never been greater,” Mr Mizoguchi said. “We have started on this journey of change and would welcome the opportunity to pass on the benefit of our learnings – along with the insights from this research – to others.” 

The new Brisbane office makes a statement about what Canon stands for through its spectacular display of large format wall-sized images – all sourced from staff – and then with such innovations as a fully-equipped central kitchen and café-style meeting area, where all staff are encouraged to gather for breaks. There are quiet areas that can be used for staff and client gatherings and there are areas that encourage ‘water-cooler’ style conversations – where ideas can bubble forth.

There are no fixed desk positions, although there are plenty of places for staff to hook up laptops and mobile devices. In fact, staff are asked not to stay in one spot for more than two hours – so they can both get a break and meet someone else from the organisation.

Another reason staff and management gather at the kitchen regularly is that they must deposit their rubbish into various recycling and waste bins. 

“There are no bins at the desks, you see,” Mr Mizoguchi said. “This is both part of our sustainability program and to encourage more collaboration.”

The new offices and the new ways of working are more than an internal change to promote better working environments, they are a lead to the way Canon works collaboratively with staff in this age of digital disruption.

Much of what has happened in Brisbane is an evolution from Canon’s previous adaptation of its Macquarie Park Australian headquarters in Sydney.

Canon communications manager Kylie Church said after 20 years at Macquarie Park, Canon wanted to go beyond “refreshing the place” and incorporate agents of change that would help the company thrive and realise its promise of being the leader in imaging across all industries.

“Canon has used its experience at Mac. Park to extend high performance working … to improve the brand and show how Canon can help clients in new ways,” Ms Church said. “Plus, we have a deep and growing commitment to the Brisbane market.”

Ms Church said the new office was also designed to accommodate Canon’s recent purchase of OCE, while allowing all South East Queensland staff to operate out of one office – before there were two. It is estimated the consolidation saves Canon about $250,000 a year in office costs.

“Number two, we wanted to improve innovation and collaboration,” she said. A third priority was to demonstrate, with the new premises, that Canon is leading imaging company, so staff were invited to “share their ideas visually”.

The way this was achieved was through what Canon calls its ‘change champions’ who helped to deal with staff challenges such as parking and public transport

“Staff don’t just support it, they want to be involved,” Ms Church said.

Canon practised what it preaches to clients – there is very little paper on the premises. Staff get one locker each, but the rest of the material is all scanned in using Canon document management systems.

Success comes down to  inclusion and culture and communication,” Ms Church said.

“It was a very collaborative approach and a co-design approach,” Ms Church said.

Canon’s specific research into working styles of its staff revealed there were two basic working categories: ‘focused’ and ‘mobile’. 

“Focused is 79 percent concentration, 10 percent contemplation and 11 percent collaboration,” Ms Church said. “Mobile is 77 percent collaboration, 4 percent contemplation ad 19 percent concentration.

“So they simply fitted the environment to the work style: focused versus mobile.”

It was a good case study for Canon’s own systems and now gives staff confidence to pass on what they have learned to clients. The entire workflow process is supported by Canon MDS and Uniflow and make the most of mobile devices, which can be plugged in to a choice of spaces at the office.

The way the layout now works, the collaborative areas are is next to the active areas, and then there are ‘focused’ spaces set aside.

Mr Mizoguchi said Canon sustainability played out at the Ann Street Brisbane site, which is Five Star Green Star. It has low energy consumption, waste streams are all centralised to manage waste  better and there are planter boxes throughout for air quality and visual stimulation.

“We truly belie in high performance working,” Mr Mr Mizoguchi said. “People can perform to their best.”

There are 60 staff in Brisbane and only two are in the focused roles, he said, plus there are 10 sales people who are also mobile. There are four start-up desks

“Canon is measuring the results in Brisbane and Sydney, but the view is that the new office works far better from an efficiency, hygiene, employee well-being and functional perspective,” Mr Mr Mizoguchi said.

Another big advantage was that the single office provided a much broader showcase for Canon products, which range from cameras to printers to document management services to medical imaging systems.

“Product wise, it about the variety that Canon does, such as in laser and inkjet (printers) and cameras … and as you see there are so many big (digital) printers in the range now,” Mr Mizoguchi said. “We are trying to extend more variety – which is not organic business. (The question is) what we have to carry?

“More on the point is that, probably, the organic business is still there – we have to grow – but on top of that we have different needs to grow, maybe, in some other sectors.”

Canon, as a result, is making ground in some surprising sectors.

“Canon Specialised Imaging team, about two years ago, recognised the need for that (broadening),” Ms Church said. “Canon Specialised Imaging looks after things like network video cameras, our Smartboard solutions, projectors, all of these kinds of things, and actually that whole business area was set up for that very reason.

“We knew that technology was going to play such a vital role in connecting people, and that part of the business also looks after things like medical. We do a number of medical devices, such as ophthalmic equipment in your local OPSM store that checks – those sorts of things – radiography is in there.

“As an imaging company it all works on much the same sensors, basically. We have portable radiography equipment that can be used under things such as humidicribs in NiQs (NiQ Health operational systems). In hospitals across the country. You can see that the whole imaging spectrum, right up from your printers, is so much more than that.”

Canon Specialised Imaging was created to integrate technologies and extend knowledge across Canon’s customer base to help improve business performance.

Mr Mizoguchi said, “Certainly Canon Specialised Imaging was created to look at some of those future products, whilst continuing with the others.”

Canon Australia human resources and communications director Effie Fox said, “Craig Manson who is the director of the Canon Business Services area has talked to me a lot about exactly that, where they have customised solutions – not just the hardware but also the software.

“They have software like Uniflow – which is what we use internally – and that they customise solutions depending on issues that certain businesses have got.”

She said Canon’s approach was to enquire about what other business challenges client companies were trying to overcome – then see what expertise and equipment might be applied to assist.

“Often (business leaders) do not want to talk with several vendors,” Mr Mizoguchi  said, “Particularly when just the one company can provide such a management service that we are aiming for. Of course, sometimes we cannot unveil everything (about what Canon is doing in terms of its own operations) but most likely in HR power or in communication power, for example, it is accessible.

“Often that our customers can visit, to see some solutions first hand.” 

www.canon.com.au

Report by Mike Sullivan

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Going for a thong …

AUSTRALIANS have put their best feet forward to support the revolutionary Willi Footwear thongs developed on the Gold Coast.

Thongs with style – and a ‘no blowout’ guarantee – have won major support in a crowdfunding campaign that supported the development through to manufacturing last year. 

They have also become favourites with celebrity beach lovers including lifeguard Trent ‘Maxi’ Maxwell from Bondi Rescue and surf ironwoman champion Courtney Hancock. 

The thongs have also gained attention overseas, with Willi seeking distributors in the United States, Japan, Greece, Spain, Portugal, New Zealand, and South Africa

The chic and highly functional ‘flip flops’ – to foreigners – are now available in selected stores and online after the campaign surpassed the initial $30,000 target to reach nearly $40,000 in sales in less than two months, this allowed production to kick off.

Willi thongs feature boomerang-shaped plugs to minimise the chances of a ‘blowout’ – where the plug snaps off – and also come with interchangeable straps allowing the wearer to customise the base with different coloured straps.

Willi Footwear managing director and founder, Brad Munro, said savvy consumers demanded comfort and quality “but there is also an increasing demand for customisable products”.

“We live in an age where people want to be able to customise their look to suit any occasion and their mood, and this product allows them to change their straps in 30 seconds to match their clothes or accessories,” Mr Munro said.

“It’s affordable fashion that can be updated with minimal cost each season, and offers the wearer the ability to have a large colour range with only a few bases and straps.”

Mr Munro said his company was looking to set up a distribution point in the US to service international demand.

www.willi.com.au

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