SUMERIAN Networks, the IT consultancy company set up by entrepreneur David Sibbald, has appointed a chief financial officer as it prepares for a major programme of expansion.
Sibbald, who previously built up Atlantech Technologies and sold it to Cisco Systems for £115 million, says his new business is ready for rapid growth.
He has appointed Joan Saywood, previously chief financial officer at Orbital Software, to put the corporate structures in place to roll out the business.
In an exclusive interview with the Sunday Herald, Sibbald said that he has now proved the Sumerian business model and is ready to move ahead.
Sibbald said: “The business is going from strength to strength. We’re capturing more customers and doing more and more with existing ones. I’m very pleased with the way things are progressing.
“Over the last three years IT spend has been slow and static, but in the last six months there has been a bit of a pick-up.
“A lot of large diverse businesses are looking at how they spend money on mobility.
“Much of the work we have been doing for customers up till now has been looking at cutting back on costs but now companies are looking at how they can get the best return on the new investments they are starting to make.”
Sibbald said that all their client companies have been able to save money on their IT network spend through working with the company.
“They’ve all reduced their annual spend on IT in less than six months,” he said.
Sibbald hopes that Sumerian will be able to prove its worth both in times when companies cut back on spending and when they make major investments.
Sumerian is seeking to win contracts with major IT users such as banks, other financial services players and the Big Four accountants.
Sibbald believes that there is a major market for their services. He said: “Everybody knows how much they are spending, the problem is that they don’t know what they are spending it on.”
Sumerian will seek customers in the UK and Continental Europe but has no plans to roll out its service in the US market. Having built Atlantech with the support of venture capital money, Sibbald and his business partner Martin Velasco have financed Sumerian themselves. Sibbald says he intends to build a long-term sustainable business based in Scotland.
On September 22-23, at Gleneagles Hotel, Sumerian is hosting a major conference for 18 chief information officers (CIOs) of leading companies in the UK and Europe on the future of the IT networks.
The conference will be addressed by Brian Clark, CIO of KPMG and JP Rangaswami, global CIO of investment bank Dresdner Kleinwort Wasserstein. They will speak about their experiences and where they believe the sector is headed.
Sumerian Networks is headquartered in Glasgow city centre and has a European office in Geneva.