Wealth & Finance April 2017

Wealth & Finance International 26 Entering New Markets he ITC Partnership operates on two levels; with contractual mandates from individual businesses wanting access to our platform for growth and ‘strategic’ relationships with corporate partners wanting to use the ITC Partnership as an additional distribution channel. The ITC Partnership is incorporated in the UK but with an additional country office in Dublin. The organisation is under the direction of a managing partner, based in the UK, who has two UK country directors and one Republic of Ireland country director reporting directly to him. Each country director then has a number of partners that he is responsible for in ensuring that the necessary resources are available for each partner to complete his business to the satisfaction of the clients. The ITC Partnership’s strength is more than merely the sum of the ac- cumulated years of each partner’s skills and qualifications because we work as a team across a range of operational functions and industries, enabling us to bridge gaps that a more discrete consultancy might en- counter. The ITC Partnership is pledged to be sympathetic to the way in which our services are remunerated because we are collectively mindful of the pressures placed on the resources of businesses particularly when entering new markets. This is the most basic and fundamental difference with consulting practices in general – flexibility is our key. The ITC Partnership, per se, has been in existence for two years although the partners have known each other for much longer. Our working meth- odology is borne out of our combined experiences of the most appropri- ate way to encourage companies seeking growth in new markets. Generally, when working with overseas clients wanting to introduce products and services to the UK and Ireland, the ITC Partnership will commit to providing a significant amount of analysis of the prospect and opportunity including recommendations on the most appropriate routes to market as well as marketing and logistical advice. Similarly, with UK businesses seeking expansion abroad. With a net- work of entrepreneurial contacts in Europe, Africa and the US the ITC Partnership is well placed to provide knowledge and experience for the benefit of our clients across many geographical borders. The ITC Partnership is also closely aligned with important ‘strategic’ partners chosen to achieve definite and observable advantages for our clients. The longest established strategic relationship is with the UK’s most successful independent card processing business called CPRAS. Having initially cooperated in recommending CPRAS to a host of businesses that might profit from lower merchant acquirer charges, we are now deeply embedded in a huge EU Framework initiative to extend CPRAS’ unique service to 460 or so local & District Councils in the UK and Ireland. This has radical implications for cash-strapped authorities. CPRAS is at the forefront of developing product as an alternative to the sometimes-usurious rates charged by existing card providers. Moreover, this work has led to some startling revelations about the levels of compliance with data protection legislation in the ‘plastic card’ industry throughout the UK and Ireland. Clearly, this has ramifications in many other areas of the world and this we are investigating. The ITC Partnership has similar agreements in place to recommend and promote the services of WorldWide Currencies and BBX, the Bank of Spare Capacity. These strategic partnerships are as much to do with being able to improve margins by reducing the operating costs of our cli- ents as they are to do with providing an additional distribution channel. The ITC Partnership works with a broad range of clients across a variety of industries. Currently, we are contracted to working with three established Italian companies; one in the skin care sector and the other two include an Italian ‘champagne’ and a blousy red-wine. The ‘cham- pagne’ was recently identified by Gino D’Acampo on television. These three companies are wanting to introduce their products into the UK, one of the world’s most discerning consumer markets and success will set them up for other markets where the ITC Partnership will provide additional consultation. Furthermore, we are advising an African skin-care enterprise that uses wholly natural indigenously sourced African Baobab oil, to manufacture wonderful creams for darker skins. In each instance, the ITC Partner- ship has allocated a suitably qualified Partner to manage the analysis of opportunity and describe the advised routes to market. With the plans agreed by all parties, the ITC Partnership then arranges the formal meetings with the chief buyers of the product categories at the desired department store group, national retail chain, regional group or whichever route is preferred. For those having never attempted a product introduction to these retail outlets the prospect can be very daunting and extremely tedious and protracted – it can take more than a year. The ITC Partnership uses its extensive experience to make this a less onerous task for the client, significantly reducing the time it takes to get such important appointments. This is a major component of our success – knowing how the system works. The ITC Partnership is also working with a UK based text-messaging business that wants a greater exposure to Africa, a UK Building com- ponents business wanting access to the UAE, several Irish businesses looking to gain greater traction in Europe and an accounting software & ERP platform. The ITC Partnership is a corporation of partners from a variety of professional backgrounds and nationalities that provide a multitude of commercial services to their clients as this article from the firm’s Alan Carvell explores. T 1704WF18