Defenx PLC (LON:DFX) Chief Financial Officer Phillip Prince caught up with DirectorsTalk to discuss the extension of the channel partner network, how the agreements came about, what they mean to the company & how the first half of the year has gone
Q1: Good news today with the extension of the channel partner network, how have these agreements come about?
A1: Well really it’s up to the luck we make for ourselves, clearly we know potential channel partners out there and we can identify people we’d like to be doing business with because we know our products, we’ll work with them and they will then work with us to get them into the market. Equally, it’s through referrals and through the network we identify parties, we then go and present to them and then it’s really down to the sell and the sell, if you recall, is twofold; one we have a very worthwhile revenue sharing model with our B2B customers so it’s worth their while to sell our products and promote our products because they get a good share from it, that in turn drives volumes to us. It only works because we have a really good set of products so the combination of those two means that once we’re through the door we generally sign them up and that’s exactly what we’ve done here.
Q2: So what do these agreements mean for Defenx?
A2: Well in short it’s what we said at the time of the IPO and again reiterated in our annual report so at the IPO we said we’re doing two things, one was broadening out our product portfolio, investing in new software and we launch Windows 10 back in March and then the second was to broaden out our customer relationships, both geographically and in new verticals. So that’s what this does, it broadens out our number of customers who can take our products to end users in markets and it broadens it out across Europe so spreading out if you like from in and around Switzerland and Italy to other Mediterranean, other European countries so it’s just part of that journey of broader customer base.
Q3: How has the first half of the year gone then for Defenx Plc?
A3: Well really picking up on what I’ve just said, our strategy is that twofold aspect of growing products, growing customers and that’s what we’ve be focussing on, we’re running according to plan and we expected to be able to do in the half year. Today is the 30th June, our half year end, so I’m looking forward to reporting results in due course, it’s going to be more of the same, just building the scale of our business and I guess de-risking it and making it a stronger business going forward with further growth.