Can Ignoring Clients Boost Your Sales? A tech company sees gains by turning its attention away from 60 percent of clients.
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Back in 2009, Imprivata was enjoying decent sales of its flagship tech product to banks, financial institutions and healthcare facilities. The Lexington, Mass.-based company's sign-on technology allows professionals to log in and out of multiple-user computer stations with the swipe of a card or fingerprint, without the time-sucking and less-than-secure method of logging in user names and passwords multiple times a day. Sales had increased 8 percent over the previous year, but CEO Omar Hussain thought they could be even better.
After surveying the collapsing financial services industry and seeing projections for healthcare's growth, Hussain took a gamble. He turned his attention away from 60 percent of Imprivata's customers to focus on healthcare--a risky move in the midst of a recession. But doing so allowed Imprivata to shift from adapting a technology that attempted to be all things to all industries, to focusing on the specific security, compliance and productivity needs of doctors, nurses and providers--while also playing a role in streamlining the medical-care process.
Thanks to the push into the healthcare industry, Imprivata saw its healthcare business increase approximately 40 percent in 2012, with sales topping $50 million. The company's single-sign-on technology is now in use in some 1,100 U.S. hospitals, including Kaiser Permanente and Johns Hopkins, as well as in facilities in Europe, the Middle East and Australia.