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iRely Seeks To Build After a Good 2020

Just prior to the holidays, we spoke with George Olney of iRely to get a briefing on activities. iRely in common with many other vendors, actually ended up having a good year and met its targets for growth. “We met and exceeded budget revenues for all markets,” he told us. “In fact, some of the revenue has been pushed out and we start 2021 with about 30% of our numbers already met.”

The interesting thing about iRely is its ownership. As George reminds us there is ‘no exit plan’ and no short-termism on the part of the owner. This means that having invested in i21, its Commodity Management platform, over the last few years, it is now ready to expand and grow by re-investing in enhancing the product wherever it is needed. “2021 is the year that iRely really starts to build on the investment it made in an all new product on an all new technology stack,” he said. This can be seen in how iRely has recruited this last few months where almost all new recruits have been in either programming or product quality. “We will continue to invest in product functionality and quality in this way,” he told us. “The new sales have allowed us to invest in new people.”

George outlined the forward plan to us under NDA, but the company expects to continue its growth in a variety of different markets as well as open up some new fronts in 2021. “With no debt, a stable ownership structure and a new product build, we are ready to be more visible in the market and to more aggressively grow the business,” he said. “iRely is always looking for acquisitions which enhances our value proposition to our existing and future clients,” he added.

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The new platform, i21, is web-based and cloud-enabled. “The solution is of course available in the public cloud, yet we still see some of our customers opting for a more traditional on premises deployment,” he said. “Often, we are asked during the sale process about cloud deployment yet when it comes down to the implementation, it is still often much more traditional.”

 

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