Mr. Ivan Teh is the driving force behind Fusionex’s success story.
When Ivan first founded Fusionex more than 6 years ago, he did so with the vision, energy and zest to overcome a major industry challenge – to solve the most complex problems faced by many companies and conglomerates through development and innovation of software and technology, yet in a manner more ‘humanised’ – more intuitive compared to that already provided by established mega software vendors, and in doing so, bringing about a more focused, ‘value’ producing solution.
Competing against the largest and most reputable players in the industry (with the majority of them being western mega- vendors) was no easy feat. When one considers that at the beginning, Fusionex possessed no track record, no brand presence whatsoever with zero funding except that of personal savings. Being a man of humble origins coupled with the fact that his father passed away shortly after he started his career, Ivan had no existing (or ‘ready-made’) platform to rely on to propel the company. With his steely determination, Ivan persevered using, almost exhausting, personal savings to fund the start-up, knocking on doors, and by focusing on providing the much needed business value in Fusionex’s products. In doing so, he succeeded in establishing a strong brand for Fusionex in the IT industry.
Since then, Fusionex has grown from strength to strength, as it continues to add as its global clientele the top names of various industries. In a span of merely 6 years, Fusionex (under the leadership of Ivan) was able to get itself listed on the London Stock Exchange in December 2012, succeeded in raising approximately MYR 60 million and was significantly oversubscribed (more than 3 times) with overwhelming interest and support from investors. All in all, Fusionex had MYR 200 million (US$62.8 million) committed to it. Quite amazingly, Ivan chose to take only MYR60 million, which is what Fusionex had set out to raise for its R&D initiatives when it embarked on its IPO exercise.
“I was told that it was quite unheard of,” Mr Teh says. “But to me, taking all that money comes with a sense of responsibility. You have to do something in return. We could have taken the money and spent it differently and on the wrong strategy. That does not help your credibility.”
Ivan continued, “Also, because we were a Malaysian or Asian company that chose to list in London, we had an additional task or self-imposed responsibility, and that was to ensure that the credibility of Asian companies or the perception by UK investors of Asian companies are maintained through our actions.” The result of his decision is echoed by the fact that Fusionex is now frequently referred to by advisors and the London Stock Exchange as the shining example of a successful Asian company IPO in London. Since then, Fusionex has become one of the largest IT companies in the region, where its market cap has more than doubled from its IPO price and currently exceeds MYR 500 million. Fusionex is one of the select few Asian based Microsoft Platinum Solution
Partners – a membership that is reserved for the elite partners of Microsoft. Fusionex also enjoys healthy partnerships with other established companies including HP, IBM, EMC and Dell as well as Global Big Data Players of renown including Hortonworks, Cloudera and Revolution Analytics.
Fusionex has a key expertise and focus in the field of analytics and Big Data. According to Gartner (a world leading information technology research and advisory company), business intelligence is the number one focus area for Chief Information Officer (CIO)s around the world. Last year, Fusionex won the highly coveted Best Application Tools / Platform category at the Asia Pacific ICT Alliance (APICTA) Awards, defying the stiff competition from the region’s top industry players.
In addition to a string of awards and accolades, Fusionex also enjoys global recognition not experienced by many other Asian players – it won the prestigious Microsoft 2012 Global Business Intelligence (BI) Partner of the year award (the IT equivalent of an Olympics gold medal for BI), winning against more than 3000 companies across 142 countries, an award that no other ICT player originating from ASEAN, let alone Malaysia, has ever won.
Led by Ivan, Fusionex recently launched its’ very own Big Data solution – an all-encompassing Big Data Analytics software and being arguably the first of its’ level of comprehensiveness ever to be developed by an Asian company. Based on Wikibon (a technology research company) forecasts, the Big Data market is on the verge of a rapid growth spurt that will see it top the $50 billion mark worldwide within the next 5 years. Ivan is frequently invited to give talks and share his views on the IT landscape and outlook, especially in the field of BI, Analytics and Big Data. He is an active invited member of the prestigious Microsoft Global Advisory Panel in the United States. In addition, Ivan has also recently been invited to be part of Malaysia’ Big Data Analytics Taskforce. The Taskforce’s responsibilities include that of assisting the Malaysian Government in developing its National Big Data Analytics Framework.
“Every morning when I wake up,” he says, “what motivates me and drives me forward is simply the opportunity and desire to do what we do best, to be passionate about what we do and in doing so, make a positive difference in the ecosystem, industry and community.”