EXECUTIVES TAKE A SLICE OF VIDEOPRO
Written on the 25 February 2016
TWO Videopro executives have secured a stake in the Brisbane business as it moves to grow its cloud and software-based technology offering.
Backed by more than 30 years of combined experience, business solutions general manager Jason Derry (pictured right) and business solutions sales director Cameron Douglas (pictured left) decided to invest ahead of a bumper year for Videopro.
The Eagle Farm-based business has forecast a 50 per cent lift in profit this financial year, on the back of almost $70 million in revenue last year.
Videopro provides audio visual industry solutions for personal and business use, including cameras, computers, wireless audio, projectors and TVs.
A team of 130 employees manage its product range, which is available online and across its network of stores in Fortitude Valley, Carindale, Helensvale and DFO Brisbane.
Derry says the company's growth is attributable to a renewed focus on services and a number of operational improvements.
"Videopro was set up as a retail business when it opened its doors in 1980 and those foundations are still important to us," Derry says.
"Today more than 60 per cent of our business is B2B and we see that increasing significantly in the next few years.
"We see real growth potential with the business and are excited about being part of the next phase."
The transition into B2B technology has attracted a wide range of clients, including several Queensland universities, Department of Justice and Attorney General, Department of Education and Training and Queensland Health.
Douglas, who started in the consumer audio visual division, says it's an exciting time for Videopro as businesses look to innovate.
"We've gone from selling standalone integrated AV systems, to network and cloud hosted software led solutions that can provide all kinds of automation and intelligence in just a few years," Douglas says.
"It is an exciting time for anyone in our industry who is able to innovate and, more importantly, execute change in their business.
"That change is rapid. Hardware-based technology is shifting across to cloud and software-based technology. The trick isn't to survive or adapt to the change, but to drive it."
Derry and Douglas join founder and chairman Shane Leaney, CEO Ian Wright and CFO Jason Sing as shareholders in Videopro.