SA based company, REDARC Electronics, has come 35th in the 2004 Deloitte Technology Fast 50 awards, achieving 98 per cent revenue growth over the last three years.
The Deloitte Technology Fast 50 ranks the 50 fastest growing technology companies, public or private, based on percentage revenue growth over three years (2001 to 2003) and includes all related industry sectors: Communications; Software; Semiconductors, Components and Electronics; Life Sciences; Internet; and Computer Peripherals.
REDARC is a privately owned company incorporated in South Australia with 25 years experience in the research, design and manufacture of a range of electronic voltage converters, inverters, power supplies, battery chargers, electric brake products and associated automotive products for the transportation industry.
Its broad and expanding customer base includes major truck companies such as Mercedes Benz, Iveco, Mack, Volvo, DAF and Isuzu.
Managing Director Anthony Kittel said, “Our significant growth is a result of the faith we placed in the original workforce of the ailing company we purchased seven years ago. Mr Kittel said the decision to keep every staff member at REDARC on board and give them an opportunity to prove themselves, ensured the future survival of the company. He said the education process and involvement of staff in decision making was vital in ensuring change was successfully implemented in the workplace.
“Instead of attempting to hide details from staff, new management should attempt to keep an open communication channel with their employees and educate them on the firm’s future strategy,’’ he said.
“This way, staff members are more likely to accept new directions or policies within the workplace because they will understand the reasons behind the decision.
We have also placed a strong emphasis on research and development capabilities and product innovation.
“We took over a company with an attractive niche market but poor marketing and sales support,’’ he said.
“We immediately placed high importance on getting out to meet the customer face-to-face and to understand the market. We now regularly go out and visit our clients for feedback on what they want in their product, then design and build it to their requirements.
“Market intelligence is about realising you don’t have customer problems just customer opportunities.
“You can always turn a negative into a positive. Not only is the problem fixed at that time but generally they’re a loyal customer for many years onwards.”
REDARC now boasts exceptionally high referral rates with its major customer base being auto electricians, who are generally owner operator run businesses.
“We expect to achieve around 25 per cent growth over the next 12 months” Anthony Kittel said.
Deloitte Growth Solutions partner, Ms Julia Bickerstaff, says the growth of REDARC Electronics has been astounding.
“Managing growth is challenging for many organisations, but REDARC Electronics has achieved exceptional growth during a downturn in the technology sector.
“With the Australian and global tech sector showing more prosperous signs than the last three years, the future is looking even brighter for REDARC Electronics.