Real experiences: Becoming part of the Harris family
Check out our new blog post, Real experiences: Becoming part of the Harris family, where we share the acquisition story of Iatric Systems.
Former VPs detail the journey that brought Iatric to consider its options and what made Harris the best choice for the business.
Our focus is to acquire businesses with growth potential, manage them well and then build them for the future.
We believe that our long term success will be driven not only by serving our customers but more importantly by ensuring that we create a culture where our employees engage with our customers and each other under a set of common and shared values.LEARN MORE
Our focus is to acquire businesses with growth potential.
While we are open to discussing any opportunity - our preferred businesses have the following characteristics:
- Diversified Customer Base
- Mission Critical Enterprise Software Solutions
- Low Customer Attrition
- Leading or Increasing Market Share
- Fragmented Competition
- Potential to grow through Geographic Expansion, Product Expansion, & Acquisition
We combine dedicated and knowledgeable professionals with our existing business executives to engage with those interested in joining the Harris family. Our experience and focus allows us to provide valuations and discuss fit quickly and efficiently.
How do we do this? First we coach.
We start by benchmarking the performance of the acquired business and sharing our experience with management and all employees – including introducing them to our best performing businesses. We use a set of operating ratios and metrics in order to benchmark each of our VMS businesses with the goal of understanding and identifying areas to improve. These operating ratios and metrics help us to appropriately match costs, including sales and marketing, research and development, and general and administration, to revenues.
Our ownership philosophy is also premised on a decentralized structure with a focus on autonomy and control at the business level.
Our decentralized management structure is key to our continued revenue growth. It allows us to have management teams with strong customer relationships and deep market knowledge that are more focused and responsive than would be the case under a centralized management model.
We leverage the value of decentralization and VMS intimacy with infrastructure and expertise at the Harris level – providing all of our businesses with financial and strategic expertise as well as support for capital allocation, acquisitions, finance, tax, and compensation policy, and the sharing of best practices.
We encourage each of our businesses to pursue key success factors including market share leadership and industry leading customer retention.
Once an acquired business is operating efficiently, we focus on building the business through both organic and acquired growth.
Organic "Initiatives": One way that we accomplish our goals of building high market share and growing our share of our customers’ information technology (“IT”) spending is through a series of investments in the development of new add-on modules to existing software solutions and marketing these enhanced solutions to both existing and new clients. We refer to these investments as ‘‘initiatives’’. Each initiative is championed by an employee who is primarily responsible for writing that initiative’s business plan, gathering and sharing market and competitive information and coordinating the resources invested in the initiative.
We believe that at times it can be more economical to acquire market share, additional products or technology and/or a complementary business rather than build them. We regularly monitor acquisition targets in vertical markets in which we currently operate. Acquisitions may enable us to offer a more comprehensive suite of products to our customers or may allow us to address a sub-segment of the vertical with a differentiated product that is a better fit for our customers.
We care deeply about our reputation as acquisitions are a key part of what we do. Because of this we believe in being open and transparent about what we believe needs to be done to the businesses we acquire. We believe in letting the selling entrepreneur know exactly what we are going to do and when – we don’t believe in surprises.
Top 4 Reasons an Entrepreneur Sells to Harris
We will always be committed to...
Top 4 Reasons an Investor Sells to Harris
Staying with us
If you sell – can you stay – Yes.
Many of Harris’ senior leaders joined when they sold their businesses to us. The decision to stay and join Harris is one we make together. Once you are part of the Harris family we work collaboratively with you to map out what you want from your career.
Maybe you have become disillusioned by the administration required to run your company and want to return to a development or sales focused role – we can make this happen – you can spend more time with customers and your solutions.
Perhaps you no longer want the financial risk and burden associated with being the major shareholder and associated requirements and conditions of dealing with lenders.
Maybe you are looking to significantly enhance your career opportunities with the backing of a financially strong, international, vertical market software focused company. Running multiple businesses, expanding internationally, pursuing organic growth initiatives and acquiring other companies are all opportunities available to the right individual.
Don’t believe us – just ask and we’ll put you in touch with someone who is living it today.
Learn about the acquisition journey from those who have experienced it directly.