In January 2018, Total Specific Solution (TSS) – a Dutch company that purchases software companies in vertical markets, acquired FDC. Today, TSS owns approx. 50 companies within approx. 15 different verticals, where “Finance” (including FDC) is one of the verticals.
TSS is owned by Constellation Software Inc. (CSI), a Canadian company listed on the Toronto Stock Exchange. Globally, CSI owns 250 companies in different verticals. CSI also has companies in the insurance and pension industry, which FDC can use as sparring partners.
Best Practices and long-term ownership
By being part of TSS, FDC has access to a wide range of Best Practices related to business development in software development: from operational Best Practices to new market insights from other TSS business units, also serving the financial market.
TSS’s knowledge developing large, complex IT solutions for modern platforms will contribute with the expertise to improve the FDC’s value proposition.
Both TSS’ and CSI’s philosophy is to buy and develop companies – ‘ Software Forever’ – which means they do not sell their businesses again but keep them. This gives FDC a long-term owner dedicated to developing FDC.
TSS acquired companies continue as independent legal entities with their own management and identity. Representatives from TSS are represented in the FDC Board and contribute to a professional board with increased sparring and governance.
Increased sparring and education
TSS ownership means several things for FDC – there are great opportunities to develop knowledge and experience in software development and maintenance across CSI’s verticals. This means that FDC as an organization can share experiences across companies through an international network and with good opportunities for a structured development process.
Through TSS, we can offer education at TSS Academy, which includes training of senior executives and middle managers and helps to strengthen the areas of leadership and management. This year, our Managing Directors, who are at the forefront of each of their business areas, will participate in the education program. The program contains a wide range of development tools, coaching for personal development and presentations by reputable speakers with topics as for example, “What keeps you from being a good leader?”.
A stronger customer focus and focus on R&D
On September 1, 2018, FDC was reorganized, and three new Business Units (BU) were established. The main reason for establishing the new BUs was a desire to get closer to the customers. In addition to the responsibility of the individual customers, the three Managing Directors also have the primary responsibility of setting the direction and budget for their BU. Each BU will thus function as an independent business area in FDC. However, we continue to have a number of common areas, including operations, operating as a Shared Service Center, to ensure economies of scale.
Our customers will experience an increased dialogue and that we thereby gain a better understanding of their particular business. In addition to strengthening customer dialogue, we are also focusing on enhancing research and development efforts so that customers can gain even more benefit from new products and services that can boost their business.
Technology or delivery partnership with less risk and acquisition of new companies
Finally, yet importantly, ownership entails an introduction to a number of affiliates, where FDC can benefit from a technology or delivery partnership with significantly lower risk.
FDC’s customers will gradually be introduced to new practices that contribute to increased professionalism and new products/services with the changed focus. As part of TSS’s growth strategy, FDC is looking at acquisitions of new companies that can contribute to increased service for FDC’s customers.
TSS’s ownership of FDC means an increased focus on creating a professional company that can offer customers a closer dialogue and understanding of their particular business.