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Follow on Google News | Conservative Approach leads to successLouisville, Ky based Oasis Solutions Group has weathered the economic downturn
By: Oasis Solutions Group Her business, Oasis Solutions Group, has relied solely on cash flow throughout its 18 years of operations. That approach has helped the company, which sells and supports Sage business software for accounting, human resource and customer-relationship management, remain strong despite the recession. Manias declined to disclose company revenue, but she said Oasis Solutions Group “didn’t get hit hard” by the downturn. Year-to-date revenue is down about 13 percent from a year earlier. That’s a far cry from the 20 percent jump in revenue Oasis Solutions Group experienced in 2008. But she is pleased that, even with the drop, this year’s performance has outpaced that of 2007. In addition, Oasis Solutions Group has had no layoffs among its 11-person staff, and it plans to grow through an acquisition that is in the works. She declined to identify the company with which she is negotiating, although she said it is a Louisville business. “The advantage today is that, if you’re in a strong position, there are good acquisitions to be made because people are struggling,” Her intent is not to prey on the weak, she said, but the reality is that some companies will go out of business if they are not acquired. NEW NAME,OWNERSHIP Fortunately for Oasis Solutions Group, company officials had made strategic decisions prior to the economic downturn in an effort to strengthen their position in the marketplace. About 18 months ago, the company changed its name from Oasis Computer Solutions and rolled out new marketing materials promoting the company as a provider of business solutions, Manias said. It also expanded its product line to include Sage’s client-relationship management software, which can be integrated with the accounting and human resources software packages that Oasis Solutions Group already offered. And in December 2008, the business restructured its ownership when one of the initial partners, Carl Sievert, retired. Manias, Sievert’s sister, became the majority owner. Six employees gained an minority stake in the business as part of the transaction, and it proved to be a “smart move” to have others who have a vested interest in the company, Manias said. SHIFTING TOWARDS WEB BASED MODEL Now, Oasis Solutions Group is preparing for the next big change on the horizon, which is the conversion from a traditional software model to a Web-based model. Under the new model, referred to as software-as- Software-as- Sage currently does not offer Web-based applications, so Oasis officials are researching other companies and participating in webinars to learn about the new model. “We’re going to do it,” Manias said. “It’s a matter of who (we align with), and I think that will come to light next year.” COMBATING THE DOWNTURN When business slowed because of the recession, Oasis Solutions Group implemented a customer advocate program to communicate with customers and further build a relationship with them. Each client was assigned to an Oasis Solutions Group employee who called the client to introduce themselves, find out how their customers were faring, what projects they were planning and what needs they had. Customers loved it, Manias said, adding that there are plans to make additional calls each six months. “It was really a good experience.” ------------------------------------------------------------ # # # Oasis Solutions Group Description: Location: 200 Whittington Parkway, Suite 100 Louisville, KY 40222 Founded: 1991 Majority owner and president: Annette Manias Employees: 11, including one each in Lexington, Ky., and Charlotte, N.C. Client base: About 750 customers, primarily across Kentucky and Southern Indiana Web site: www.oasisky.com End
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