StoredIQ provided an enterprise-level software platform that enabled companies to automate and manage all of their critical Information Lifecycle Management (ILM) processes proactively, including eDiscovery, information governance, and records management.
- Business Strategy
StoredIQ was at a crossroads. The Company faced a choice: Concentrate on one market, eDiscovery, where it might pick up some short-term wins, or pursue a broader platform strategy targeting the full spectrum of ILM use cases to a bigger exit down the road. Funding was limited, and the software industry as a whole was suffering in the aftermath of the financial meltdown of 2008.
Peter Buchanan of Ten Mile Square served as the outsourced Head of Strategy for over four and a half years. His responsibilities included:
Crafting a durable platform-focused strategy that positioned StoredIQ as the market leader in terms of scalability, performance, and reliability in ILM.
Putting in place a strategic planning process that clearly articulated the company’s short, medium, and long-term goals and operational milestones and that was easy for the company to implement and use.
Maintaining the company’s “transaction grade” business plan and management presentation.
Working with management team members on the quarterly and annual plans for their departments.
Organizing successfully to manage growth and profitability.
Recruiting key management talent.
Working with the CEO and Board of Directors on key issues involving strategy, outside investment, and the potential sale of the company.
Selecting investment bankers in support of the company’s eventual exit.
Peter also served as an executive coach to the CEO and other Management Team members work through daily operating and performance management issues. IBM acquired StoredIQ in 2013. Its platform is now the centerpiece of IBM’s ILM product line.