ASX-listed ICT services provider, Data#3 (ASX:DTL), has embarked on plans to restructure its business model.
In its Annual General Meeting presentation to shareholders, the company revealed strategic plans to tackle challenging market conditions that involve restructuring its business from five areas of specialisation to three.
The Brisbane-based integrator previously had five pilars of focus including People Solutions, Licensing Solutions, Integrated Solutions, Product Solutions and Managed Services.
This has now been condensed into three areas; Software Specialisation, Infrastructure Solutions and Managed Solutions.
It has also consolidated its internal services functions, taking some costs out of the business to help deliver a net pre-tax benefit of about $4 million this year.
"We're in a unique confluence of economic and technology disruption. We're very well positioned for improving times with a great team in place, leveraging in our cost structure, market positioning with a track record and experience that will see us as a successful player in our customers' hybrid IT future," managing director, John Grant, said.
"It's times like these that fuel industry consolidation and we see an opportunity to be part of this."
Grant described hybrid IT as a combination of integrated applications and infrastructure on-premise, outsourced and in the cloud.
"We see our positioning as both integrator and provider of hybrid IT as our future," Grant said.
The company has set out a financial objective to at least match the performance of its 2013 financial year, which recorded $771 million in revenue; gross profit of $122.5 million and services revenue of $130.1 million.