Letter from our CEO – First Quarter 2016
The new year is a time when many of us resolve to change our ways. Get back in the gym. Cut back on the snacks. Stop hitting the snooze alarm. For one reason or another, some resolutions stick while others don’t.
Success is directly related to a willingness and readiness to change. Committing to change is one thing. Planning how to make a change and maintaining it over time is something else altogether. You should always prepare for change and you should never stop changing. This is something we’re pretty familiar with at OSV. Ever since the company was founded, we’ve been in a constant state of deliberate change and strategic growth.
Last year, we focused on the launches of our Finance and Accounting Outsourcing (FAO), UK Payroll and Prescriptive Solutions service offerings. We expanded into new territories. We made substantial enhancements to our existing technologies. And we recruited incredible talent to traverse these exciting new changes and challenges.
By year’s end, we reached a company headcount of 750 employees. As an organization, OSV experienced over 50 percent growth in 2015 and is on track to achieve over 45 percent growth in 2016. We need to grow at this rate in order to predict the needs of our customers, deliver on planned initiatives and prepare for changes yet to come.
As I mentioned in last quarter’s letter, our 2015 hiring initiatives were aided by an investment from Technology Crossover Ventures, allowing us to bolster resources at our Dallas and Mesa offices, and hire staff for our new European service center in Derry, Northern Ireland as part of OSV’s expansion into the European market.
Last month, we announced the construction of our new company headquarters at Cypress Waters in Dallas, TX. By this time next year, our Texas office will occupy a brand new facility built from the ground up in a booming mixed-use development. We’ll be among neighboring head offices for companies such as 7-Eleven, CoreLogic, Nationstar Mortgage, British Telecom and Toyota. By establishing our headquarters alongside other industry leaders, we’ve given ourselves the opportunity to infuse our culture in a flourishing business community where OSV’s innovative nature will flourish.
We experienced a lot of change in 2015. The year ahead will be no different, but the focus has shifted. We will improve upon our already successful business model. We will continue to acquire and cultivate new talent. We will innovate on the technologies we have and use these innovations to improve the ways we serve established OSV customers and attract new large enterprise customers.
The new 217,000-square-foot OSV HQ will do more than simply house our employees. In fact, it is designed to be conducive to collaboration and change. It will serve as an incubator of innovation and provide state-of-the-art accommodations for an OSV workforce targeted to exceed 1,050 employees by year’s end. This strengthened service team will be able to better support our existing customers. More importantly, they will do so with a focus on reevaluating our customers’ current solutions and exploring new ways to help them optimize Workday functionality, be it through enhanced technology or new consulting services.
Our growth also enables us to continue expanding our offerings and partnerships with large consulting firms to serve Fortune 1000 companies with employees in excess of 50,000. We will extend our reach to attract and support large enterprise customers in the Workday ecosystem with more complex, sophisticated requirements, and provide them with the same level of exemplary service and expertise OSV customers have benefited from since 2008.
If you’re not changing, you’re not growing. And if you’re not growing, you’re dying on the vine. We’re able to sustain these patterns of growth, constantly improve our technology and consistently offer world-class service by always evolving as an organization and continuing to push the envelope on innovation to make sure we're staying ahead of the needs of our customers. We’re able to grow because we’re always changing, always prepared and never satisfied with simply being satisfactory.