A data analytics firm based in Rugby is hoping its new platform aimed at helping SMEs interpret their data more easily will enable it to double its turnover within 12 months.
Metryx, founded in 2018 by Mike Khan, has already developed complex data analytics software for large corporate clients, including the likes of Mercedes-Benz, to gain better insights into data such as sales and forecasting, and allow them to make more informed decisions.
Building on this expertise, Metryx has now developed ‘Autometryx’, a simple-to-use software platform, specifically designed for the SME client.
Autometryx is customisable, so that businesses can tailor it to their needs. It allows the user to combine data from sources that may have been separated in spreadsheets and documents into one interface, with the specific intent of driving business profitability and value.
Metryx plans to double its turnover within a year based on market feedback and the forecast demand for their new software.
Mike has worked with Fiona Molloy, Growth Adviser at University of Warwick Science Park’s fully funded business support service Business Ready, which is funded through the UK Shared Prosperity Fund and by Warwickshire County Council, to develop a marketing strategy for its new software and to allow Mike more time to focus on business growth.
Mike said: “While creating bespoke software worked well for us, and meant we were able to develop incredibly useful products for large corporate clients, it was difficult to take that next step to really grow our business at the rate we wanted to.
“We came up with Autometryx as a way of giving smaller businesses a simple-to-use and affordable tool to better analyse their data without needing to commission a custom-made system, which are typically expensive and time-consuming to implement.
“While a lot of our work was originally with automotive clients, our software can be used by clients in almost any sector. Our issue was how to best market what we offer.
“Fiona showed us that we ought to be carefully reviewing which sectors would benefit most from the platform, while balancing the ROI from our side. We found that sectors that are data rich, but perhaps lacking in insight, were mainly SMEs in automotive, aerospace, manufacturing and engineering.
“This insight is shaping our strategy which we are continuing to develop with Business Ready, and we’re confident it will help us on our way to doubling our turnover over the next 12 months.”
Fiona Molloy, Business Ready Growth Advisor with an extensive background in marketing strategy and implementation, said: “Mike’s goal of doubling Metryx’s turnover in a year is an ambitious one, and while Autometryx is clearly a great product, it needed to be marketed correctly to get businesses to realise the benefits.
“Through working with Metryx, it was clear Mike was not only running the business like a CEO, but doing a lot of the work too. We came up with a strategy to help him step back and really look at where Autometryx could be marketed most effectively.
“Now that we’ve helped Metryx develop this plan, we’re confident it will result in them winning further clients and achieving their growth goals.”
Councillor Martin Watson, portfolio holder for Economy at Warwickshire County Council, said: “Supporting local businesses to be successful is a key priority for Warwickshire County Council and we’re proud to support Business Ready.
“The programme delivers bespoke advice to local businesses, supporting them to grow by developing their knowledge and skills.
“It’s great to see the impact this has had on Metryx, helping them to focus their business growth by creating a targeted marketing strategy to expand into new markets through the development of their new software platform aimed at SMEs.”
Cllr Louise Robinson, Rugby Borough Council portfolio holder for growth, investment, digital and communications, said: “Mike’s expertise and ambition has made Metryx a successful business, but every business can still benefit from independent, expert advice.
“With the development of the new Autometryx software platform, it was the perfect time for Metryx to work with Business Ready to develop a marketing strategy and identify new customers who can benefit from the company’s latest product.
“It’s another example of the Business Growth Warwickshire programme delivering effective, targeted support to help businesses move to the next level and, in turn, support the borough’s economy.”
Business Ready forms part of the Business Growth Warwickshire programme. It is delivered by University of Warwick Science Park on behalf of Warwickshire County Council and Warwickshire’s five District and Borough Councils. The support is part funded by the UK Government through the UK Shared Prosperity Fund (via the District and Borough Councils), and Warwickshire County Council.
Find out what other support is available to your business by calling Coventry and Warwickshire Growth Hub on 0300 060 3747 or visit the Coventry and Warwickshire Growth Hub website.
