22. Vuzion
Revenues: £53.7m (+22%)
UK&I staff: 95 (across Vuzion and Cobweb)
Specialism: SaaS
Key vendors: Microsoft, Mimecast, Acronis, DocuSign, Global Relay
HQ: Fareham, Hampshire
This Microsoft cloud distributor - together with direct-selling parent Cobweb - broke the £50m revenue barrier in its year to 31 March 2022, according to numbers it shared with us.
Holding Microsoft CSP status, the Vuzion brand was launched in 2016 and according to market sources generates around four fifths of the group total. It is counting on 30 per cent growth in its current fiscal 2023, according to its MD (see below).
Q&A with Vuzion MD Michael Frisby
Michael Frisby
What's been your biggest business highlight of 2022 so far?
Passing £50m in billed revenue for FY22 (ended April'22) and passing the £60m run-rate mark. And also delivering a comprehensive wellbeing programme that looks at all elements of employee wellbeing culture from physical and mental health through to charitable activities and learning initiatives
Do you expect to grow in 2022?
Absolutely, we're expecting 30 per cent growth in our current FY
Have you made any significant vendor signings in the last 12 months?
No major signings, small incremental only.
My biggest business mistake? Not moving people "off the bus" quickly enough when I know they are not the right fit
Which emerging vendor/technology are you tipping for take-off in 2022?
As the skills shortage and employment costs continue to rise we expect to see even more demand for managed services as SMBs and corporates struggle to hire talent to run IT and security solutions internally
Distributor share prices have cooled over the last 12 months. Is that a concern?
No, but I believe it will help fuel further M&A activity. Enterprise value will ultimately hold up where distributors are adding value for their vendors and resellers.
How is the chip shortage impacting you, and when will it end?
As a pure-play cloud services provider we have minimal direct impact. The occasional Azure capacity limitation and Teams hardware, but nothing of note.
What, if any, role does distribution have to play when it comes to sustainability?
As a key component of the supply chain for vendors, resellers and customers of IT services, distributors have significant ability to help the entire ecosystem drive towards net-zero by delivering value-add services for resellers that help them achieve their sustainability goals
What's been your biggest business mistake?
Not moving people "off the bus" quickly enough when I know they are not the right fit.
The MD of the next VAD on our list wishes he'd come to the UK sooner. Discover their identity on the following page...
