Earlier this month, we shared an insightful conversation with Vencore’s President and CEO, Mac Curtis, prior to his presentation at the September monthly meeting. During our discussion, Mr. Curtis addressed The SI Organization’s acquisition of QinetiQ, and provided insight into the integration strategy that was currently underway.
Last week, ACG members had the opportunity to hear Mr. Curtis provide additional detail around the company’s recent re-branding, strategic direction, as well as some integration imperatives.
Discussing the company’s focus immediately following the acquisition, Mr. Curtis expressed that, in the near-term, “the focus is on completing the integration of people, processes, and systems,” while also winning re-competes. Following the integration, Vencore would then be able to optimize operational performance and organic growth by “cross-selling capabilities across customers and leveraging GWACs/contract base.”
Differentiation and margin improvement would be achieved through intellectual property, as well as “adding customers and select capabilities through M&A.” According to Mr. Curtis, not only would that cement cultural change for the long term, but it would also sustain operational performance.
In terms of integration imperatives, Mr. Curtis reiterated: “the day we closed the deal, we already had an integration playbook laid out.” In order to create an efficient and effective corporate structure, organization will be performance-based, with rates based on current and future competitive realities.
According to Mr. Curtis, the performance-based organization, “allows us to focus on the organization’s design and what is critical to success, as well as who can lead the company.” There’s also indirect cost reduction, which is “painful, but necessary.”
When discussing the company’s recent rebranding to Vencore, Mr. Curtis shared that it was crucial to remember that “communication is key,” both internal and external. “Everyone always needs to be aware of what is going on.”
Although it’s been a long and arduous process, Mr. Curtis is confident that adhering to his integration strategy will ultimately prove worthwhile: “Culture change, operational excellence, and organic growth over time will be key to cementing initial gains.”
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