PMV focuses on "results-based solutions" for SMBs, notes Goemmel. The 37-person company strives to find customers that want to "transfer the full accountability for the IT function" off-site.
In 2009, PMV has focused on two specific areas: Hosting and compliance services. On the hosting front, PMV has moved a majority of managed service clients "from on-premises servers to our hosting solution," leading to a "substantial increase in the overall monthly recurring revenue" for 2009, says Goemmel.
Looking at compliance services, PMV's clients are often in regulated industries like banking and health-care. Because of that, they've bumped up security and security incident management processes. Goemmel says:
Emphasis grows in the audit of our services at such clients by external auditors and regulatory agencies such as the FDIC. In addition to a variety of technology additions, we have expanded our roles in clients from a process, policy, and compliance perspective. These are all bundled into add-on recurring revenue services.When asked about how the recession has impacted PVM, Goemmel had an interesting answer:
We expect that our recurring revenue will increase at about 1/2 the rate of 2008 but with a flatter overall project and product sales. The overall revenue will be similar to 2008, but at an increased overall profitability.
Driving Into New MarketsPMV Technologies' success certainly wasn't guaranteed. The company competes near the Detroit area, which is locked in the worst recession in recent memory. Notes Goemmel:
With the overall strategic and structural changes to the automotive industry, we have found markets in which the true value-add of the managed services business model is significant and focused our efforts on those markets....we expect our company will double our managed services client base in the next few years.Instead of flashy marketing, PVM is sticking to facts, figures and case studies that show overall cost savings and the quality they can provide to their clients. Since the growth rate of clients this year has slowed, PMV has focused on delivering new services to existing customers -- and doing what they already do, even better.
Looking ahead to 2010, Goemmel is striving to incorporate cloud computing applications into PMV's business model. We'll be watching.
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