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Strategies for Growth in a Contracting Economy
Growing business in a contracting economy is a challenge facing many companies.TITAN GS COO Suheb SIddiqui and other executives shared strategies for driving expansion in a challenging economy.
The roundtable participants were asked what they have learned about running a business in what was euphemistically called the ‘new normal’. Siddiqui and other panelists saw opportunity in the trend toward increased reliance on flexible cost models, leveraged by innovative product lines, long term partnerships with customers, and laser sharp focus on core strengths. Siddiqui said “What we have primarily focused on during the last four years is narrowing down the service offerings that we are bringing to the table.”
TITAN GS - http://www.ttpartners.com - also decided to concentrate on long-term contracts rather than shorter and more easily completed engagements. Siddiqui said “The company has transformed as a result of that: 70 to 80 percent of our revenue is now recurring because of that.”
Siddiqui was joined by panelists Mark Jensen, CEO of Charlotte Radiology, Jeff Spalding, COO of Peak 10, Norm Brodsky, senior contributing editor at Inc. and moderator Lewis Schiff, executive director of the Inc. Business Owners Council.
The roundtable discussed the need to be open to innovative ideas presented by employees or clients looking for expanded services. TITAN GS has long pioneered such employee and client led innovation models. TITAN GS’s Global People Solutions and Global Hosted Solutions evolved from a client request for hosting services in addition to implementation and management solutions already provided.
Summing up his experience at the event, Suheb said “It was a gratifying experience to discuss and validate ideas around EBITDA, growth, and innovation in a fiscally disciplined environment. I am thankful to Bank of America Merrill Lynch and Inc magazine for organizing the event.“
About Suheb Siddiqui
Suheb Siddiqui is the COO of global consulting firm TITAN GS. The firm is focused on providing turnkey solutions to midsize clients. He has led strategic and operational initiatives for several Fortune 500 and Global 2000 firms in areas of P/L restructuring, Organizational Models, Complex negotiations, Supply Chain optimization, Information Technology (ERP and Business Intelligence)
About TITAN GS
TITAN GS is a leader in providing turnkey global outsourcing solutions for Finance, HR, and IT built on the Oracle Enterprise Resource Planning (ERP) & Enterprise Performance Management (EPM) software platforms. TITAN is a pioneer in the Business Process-as-a-