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Achievements and challenges
Whilst Tamsin has been CFO, the financial health of Ultima has gone from strength to strength
Cash Conversion – Improved cash conversion from sub
+%
Bad Debt write off has been less than
0.03%
of Total Revenue
Annualised recurring revenue has grown by over
%
Revenue has grown by 8% whereas Gross Profit has grown by over
%
EBITDA has grown by over
%
Tamsin describes herself as being embedded in delivering the strategic vision of the business through her effective decision making, analysing business needs and impacting the entire operation of the business. Tamsin’s effectiveness is linked to the financial insight in her teams, working and building a finance function to deliver value and to be proactive in driving change.
Leading the charge for transformation is not without obstacles
One thing’s for sure: Tamsin has learned a lot.
“Before I joined Ultima, I worked at one of the world’s most successful visual effects (VFX) companies, where I was constantly amazed by people’s sheer passion and love for what they did. There was a constant momentum of innovation and creativity, because people felt empowered to make things happen.
I wanted to give people at Ultima that same level of autonomy and ownership, and I was confident this would lead to the same levels of growth we enjoyed at the VFX company.”
Evolution not revolution
Looking back, Tamsin recognises that customer relationships and buying cycles are simply different at Ultima. But the complex process of transforming Ultima’s customer relationships and company culture are both making great progress.
“We've changed our way of working, and we're now a people-led business, built on personal relationships and trust. Those changes affect everyone's roles and make our people and their capabilities pivotal to our business.
We came from a stable, product-focused place, where revenues and profitability were steady. But we wanted to accelerate our growth trajectory, and the only way to do that is through people being autonomous and owning the outcome of what they do. People will only be innovative when they don’t feel controlled.”
Promoting inclusivity
Continuing on the theme of company culture, Tamsin is especially proud of the work she's done to make Ultima a welcoming place for everyone.
“If you are the only woman working on a service desk, or in an environment where no one else looks like you, it's not a nice feeling. Launching our Women in Tech event is a real passion project of mine, and the response has been fantastic. People went into it asking “What is this?” and came out saying “When's the next one?” That was pretty amazing!
Creating a space in Ultima for people to get to know each other, to share their experiences and feel comfortable revealing their vulnerabilities, and then to see so much enthusiasm for what was on offer – that was fantastic."