PROCURRI: Dreams Boldly in Race to Change Tech World

Procurri CEO, Sean Murphy  (Photo: Company)

An entrepreneurial spirit runs deep in Sean Murphy's blood.

Driven by an innate need to create and build, the IT industry veteran dares to live his dreams, and is passionate about turning possibilities into reality.

"Entrepreneurship is my passion," said the global Chief Executive Officer of Procurri Corp, a Singapore-listed provider of data centre equipment and maintenance services.

"It's about embracing challenges, solving problems and taking risks. And most of all, it shows that no matter where you come from, what your background is, you can achieve tremendous success if you are willing to work for it."

The Economics graduate from Emory University in Atlanta, Georgia, began his career in technology sales in 1988.

Ten years later, together with three partners, he launched Canvas Systems - an independent reseller of pre-owned enterprise computer systems - which was acquired by Avnet Inc in 2012.

His string of successes included co-founding Optimus Solutions in 2001, which was eventually sold to Softchoice Corporation in 2008.

Murphy, 50, had a vision of building a global aggregator of enterprise hardware and services, providing seamless convergence between technology, finance and logistics domains for its clients. This is in sharp contrast to the current fragmented state of the market.

The IT industry has always been dominated by a handful of brand-name manufacturers, including IBM, Dell and HP, each with its own global network of resellers and vendors. So, a large corporation with say, 50 offices worldwide, would have to grapple with a plethora of suppliers - perhaps 20 vendors for hardware, and another 20 or 30 for software and other services, he noted.

The enterprises of today, however, are increasingly brand-agnostic, focusing on cost-effective and quality IT hardware. They prefer to extend the life of their IT infrastructure by using pre-owned equipment, as well as opting for independent maintenance services, to capture up to 60% in cost savings.

"Procurri is not a short-term play - we're here for the long haul. Some of the clients we serve are among the biggest companies in the world, and if we do a good job, we're going to be very large and very profitable."

- Sean Murphy
CEO,Procurri

Procurri means "lead the pack" in Latin. "We're in a race to emerge as leader of the pack - the name is aspirational," Murphy pointed out.

While many competitors have used the terms "computer" or "systems" to name their businesses, Murphy wanted to tell a different story.

"Procurri represents a totally new vision, one that portends disruption to the industry. We're neither a pure hardware nor services company - we're part of the disruptive force that comes with the cloud," he said.

Procurri's warehouses house different types of data equipment, including servers and storage. Its back-end is governed by a bespoke inventory management system.
Above: Warehouse for Europe, Middle East and Africa markets. (Photo: Company)
So what differentiates the company from its rivals? It's all about the customer.

"We're trying to build a business designed around what the customer wants, using leading-edge technologies and 21st century tools, whereas many of our competitors are still saddled with legacy systems and commoditised products," he noted.

Procurri aims to capture as many opportunities as possible within the US$30 billion industry. "We want to be the world leader in the three businesses of hardware, maintenance and lifecycle services, across the continents of North America, Europe and Asia. To do that, we need to embark on an aggressive acquisition strategy over the next one and a half to two years," he added.

While the company has an excellent global sales force, it lacks large engineering capabilities in Europe and North America to deliver maintenance and lifecycle services.

Procurri's first post-IPO acquisition - completed last November - was EAF Supply Chain Holdings, a supplier of IT spare parts.

The purchase, which cost 1.5 million pounds and was fully funded from IPO proceeds, augments cross-selling opportunities within the enlarged group, and aligns with Procurri's plan to boost the higher margin lifecycle services business.

"Procurri is already a sales dynamo, so we're now focused on getting the highest calibre engineering talent. Asia is the only place within the group that is strategy-complete at this time, and rightly so, because in the next 10 years, all the excitement in IT will be in this region," Murphy said.

"This is also why we chose Singapore as our Asian headquarters and listing location."

Once the group is "strategy-complete" across its key geographies, management will focus on organic growth and building scale.

"This is a scalable business, a business where the big boys win. As we get bigger, and the complexity of the jobs increases, our margins will continue to expand," he added.

"We have a very strong core business, we're acquiring some very talented plug-in acquisitions, and our game plan is fairly simple. The difficulty lies in managing our operations around the world."

- Sean Murphy
CEO,Procurri

Values he holds in high regard are encoded in the "Procurri Promise" - the company's core set of ideals.

One is integrity. "That word is used a lot, but it basically means doing the right thing," Murphy said.

Innovation is another. "We don't want to hold the future back - Procurri is part of the disruption of the cloud, and we want to bring that innovation to clients, shareholders and staff."

Excellence and expertise are also qualities he focuses on. "The world does not need more people who are doing an OK job. If we don't have the expertise, we won't take on the job. At the same time, we should always strive to be the best we can be.".

By extension, Murphy finds immense satisfaction in nurturing talent and building strong teams within the organisation. "I want to create a company that people are proud to work for - that's my way of paying it forward."

Procurri's 24/7 global helpdesk provides a single point of contact for all systems-related queries. Its toll-free hotlines are manned by trained, experienced, and multi-lingual personnel who handle customer calls and emails, logging and tracking each case through to its resolution. 
(Photo: Company) And in business, nothing is more critical than your reputation, he added.

"It's taken a lifetime for me to build my reputation, and every day, I face at least one decision, if taken, could ruin it in less than five minutes."

His grandmother's advice remains at the back of his mind: Do things right during the day and you will not have any trouble sleeping at night. "Those are words I live by," he added.

At home, the father of four children - three sons aged 12, 16 and 18, and a daughter, 20 - is an active parent. Family time means mostly outdoor activities, such as fishing and hiking.

"I want to get the kids away from social media, video games and the TV. I want to be able to look them in the eye and have a proper conversation with them - I guess I'm old-fashioned that way," he said with a chuckle.

"I know many business people who have regrets, wishing they had spent more time with their children. I want to make sure that doesn't happen to my kids."

• The Group maintains a cautiously optimistic outlook for its fourth quarter performance, which typically experiences stronger sales demand, in view of the current subdued market sentiment.
• On 7 November 2016, the Group completed its first acquisition post-listing of EAF Supply Chain Holdings Ltd, a provider of information technology spare parts. This acquisition is a strategic fit for the Group's Independent Maintenance Services segment, which corresponds to its strategy to ramp up contribution from the higher-margin Lifecycle Services, especially in the UK. At the same time, the enlarged customer base from this acquisition will also create new cross-selling opportunities for the Group.
• The Group will continue to pursue M&A opportunities to reinforce its recurring revenue streams and achieve income resilience.