Home Industry Market Consulting Ten years behind, ten years ahead, FinXL powers on

Ten years behind, ten years ahead, FinXL powers on

ICT services firm, FinXL IT Professional Services, has scored an almost perfect 10 with a decade of consistent, year-in-year-out growth and profitability as the Sydney-based firm celebrates its 10th birthday since the initial start-up in 2003.

As FinXL Managing Director, Tracy Thomson, told iTWire, the family-owned and run Australian business was initially set-up, with offices in Sydney and Melbourne, in 2003 “to plug what we perceived as a gap in the market sitting comfortably between the large tier 1 vendors and the contract labour hire market.”

“The timing was right and this strategy paid off, supporting a few large corporate clients initially.

“Market challenges quickly made us realise that we too had to evolve our service offerings, opting to concentrate on our key niche technical specialties, building our bench of permanent technical resources, and taking on more end to end project delivery on an ‘at risk’ basis.”

As Thomson adds: “This again has paid off and FinXL’s internal systems and procedures are also much more robust, and now falling within their externally accredited quality management system.”

“The business is very different today than it was two year’s ago, five year’s ago and 10 years ago.  I suppose we have matured and grown arms and legs in the process.

“Our in-house technical capability has mushroomed and we are a much more experienced business today. Our ever increasing client base is also providing us with more interesting, diverse and challenging work.  I am still often amazed when I learn about some of the great project outcomes the teams have delivered and the excellent client feedback they have received.”

Now, in its 10th year in business, FinXL has spread nationally from the two start-up offices in Sydney and Melbourne to a national service capability including offices in Brisbane, Canberra, Perth and Adelaide.

According to Thomson, not many ICT service companies can claim “ten years of growth and profitability with a loyal, motivated and highly energised team,” but she says that’s what’s been achieved – and much more – in the decade.

Now delivering specialist services to what Thomson claims is a growing national client base comprising of many leading telco’s, banks, corporations and government departments, she attributes much of the success to always focusing on ‘word of mouth’ reputation “and ensuring we have really good technical delivery capability to carry out the work we win.”

And, in one significant win just over two months ago, FinXL was appointed as an approved contractor to New South Wales Local Government, with inclusion in a new panel for the next three years. NSW councils and approved Not-for-Profit organisations can use the panel to request quotations for proposed IT and Communications Professional Services and associated products for contracts up to $500,000 in value.

As Thomson noted when FinXL was appointed to the panel in March: “FinXL has a formidable track record of proven project delivery and consulting expertise within the Government sector and this opportunity will enable it to extend its high value service offering to NSW Local Councils for the first time.

“We are all very excited about this new opportunity, which comes on the back of increased market demand for our services generally, in this our special 10th birthday celebration year!”

And, 10 years on, how does Thomson see the next 10 years unfolding for FinXL?

According to Thomson, who started her ICT career in the UK selling solutions for Norsk Data, “it’s a really exciting time for FinXL, we continue to attract some great new talent into the business as technical leads, key consultants, account managers, who are again transforming our ICT project capability and capacity.”

Thomson says FinXL’s client base is also continuing to expand, reflecting the firm’s current revenue growth of 70% year-on-year “in what is after all a fairly flat market.”

“Our solutions provide our customers with good ‘value for money’ with relatively ‘low risk’ delivery outcomes, which make our services attractive.  We are not planning to change this!”

Looking to the future, Thomson maintains the key factor she sees continuing to drive success for FinXL is the team of professionals employed by the firm.

“It’s this new generation of highly energised professionals that are leading the way and mapping out our next phase of evolution.  As with any ICT services company, we are only as good as the talent that we employ.  

“Thankfully, we have some great people in our business that understand client needs, are capable of driving change and developing our cost-effective, ‘go to market’ solutions for the next chapter in FinXL’s success story.”


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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).