INEA Corporation (now part of the French-owned company, Cartesis) employs 100 staff in Toronto, and has an annual turnover of $10 million. Traditionally focused on the North American market, in 2003 it set itself the goal of breaking into the European market with its performance management solutions for financial services. By using Calleva as its European sales partner, INEA is well on its way to achieving its goals in just 18 months. Not only has this been an impressively rapid process, INEA estimates it has halved its setup costs by leveraging Calleva’s local skills and knowledge.
When INEA won a substantial contract to provide its software to the Royal Bank of Scotland group (RBS) in June 2003, the company was in an ideal position to develop a UK – and then European - business. This began with Calleva developing a local sales presence for INEA in the UK. A combination of the prestigious RBS contract and Calleva’s substantial experience of the UK financial services market led to discussions with other local financial institutions, rapidly building up INEA’s UK sales pipleline. INEA’s relationship with Calleva runs far deeper than sales alone: INEA recognised that staff providing the sales expertise must understand the local culture and business customs. They must also be available locally on an ongoing basis, to provide essential support, and to demonstrate a longterm commitment to the local market.
To date Calleva has:
INEA estimates that it has halved its setup costs in the UK by leveraging Calleva’s local skills and knowledge, instead of trying to go it alone. After 18 months it has established a local presence in the UK, already counts two of the country’s top four financial institutions among its customers, and is in advanced discussions with several other big names in the European banking industry. Says Mark Ruddock, INEA Corporation’s founder, president and CEO: “Buying a full-time presence in a market like this is extremely expensive, and there is latency before a return on investment can be seen. Our principle reason for working with Calleva has been a pragmatic one – they substantially reduced our time to market, while also radically reducing our costs.”