Established by COO Mark Gilmartin and CEO Jonathan Larbey in 2012, T-Pro offers advanced speech technology solutions to the healthcare industry. Boasting a wide variety of speech recognition interfaces, a thoroughly integrated workflow platform, and their latest innovation, T-Pro Copilot, the company has expanded its presence across English-speaking health tech markets. T-Pro Copilot utilises speech recognition and generative AI to automate administrative tasks such as document production, correspondences and diagnostic/procedural coding, freeing up eight to 10 hours per week for medical professionals.
T-Pro’s business model is underpinned by shared value with their clients and partners, offering them the necessary foundation and flexibility to implement their broad range of cutting-edge AI tools. The focus of the company is not only to deliver financial savings but also to improve efficiencies and increase clinician satisfaction and retention.
A notable achievement of T-Pro is its substantial growth, achieved organically without external investment, leading to its dominant position in both Ireland and the UK. In early 2022, it successfully penetrated the Australian market via a self-sourced and self-funded acquisition. An impressive 60% of healthcare institutions in Australia now work with T-Pro, reflecting the robust team and cultural ethos the company has nurtured over the years.
T-Pro faced a significant cash flow setback while trying to expand its software platform and early AI models, incited by winning a few sizeable contracts. The necessary expansion of the team and guarantee of wages strained resources, tipping the company into overtrading. The company was unable to meet its Revenue liabilities, despite the founders going without pay, and resorted to an instalment arrangement. However, they overcame this challenge by staying the course, refusing to seek external capital, and trading their way back into profitability.
As they initiated the business, they received the insightful advice to “move forward – quickly”, advocating that perfect can impede progress. This philosophy has remained at the heart of T-Pro’s operation, underlining their commitment to delivering quality products promptly while staying open to experimentation and modification when necessary.
Ignoring the advice to not invest in refining our own artificial intelligence technology was indeed the poorest guidance we ever received, as the suggestion implicitly argued that we could never compete with the big corporations. Nonetheless, how wide is your global trading scope and what are your upcoming objectives and aspirations? We serve customers in the United Kingdom, Ireland, and Australia where we have established offices. In addition, we function in Germany, Austria, Switzerland, as well as New Zealand, Singapore, Malaysia, and the larger region of Asia-Pacific. Our ambition is to continue to increase our market presence in these primary regions, introduce new products to reach a wider customer base, and penetrate new markets – with the United States being a key focus.
Looking ahead, where do you envision your business standing in the market three years from now? Being a business rooted in AI, we perceive the market eventually evolving to match the advancements we’ve made in our products and messaging over the past ten years. We foresee heightened investment in scalable AI-powered healthcare solutions and believe that such digital transformations will aid in boosting our industry recognition. In three years, we aspire to be leading competitors not only in the new US market but also other strategic global markets.
What substantial shifts could rock your industry? Despite being a longtime disrupter, AI is not the only factor. In the coming five years, it will be increasingly strained healthcare systems, growing populations, aging demographics, and clinical workforce exhaustion that will truly ignite changes. It’s expected that governments and healthcare sponsors will heavily rely on AI for scalable digital transformations, positioning T-Pro ideally to benefit from this trend.
Ballymaloe Foods, currently run by Yasmin Hyde’s daughters Maxine and Rosaleen, was founded by Yasmin Hyde in 1990. They currently operate the business, employing over 45 full-time employees and offering more than 25 different products to customers both in Ireland and overseas. Ballymaloe Foods, committed to sustainability, holds a gold status in Bord Bia’s Origin Green programme.
The company’s philosophy is to use traditional cooking techniques and natural ingredients in creating new products. Despite the broad product range, the company’s heart and soul remain the Ballymaloe Relish, a product that has maintained its original recipe and quality since Myrtle Allen cooked it first over 70 years ago.
What would you consider to be your most substantial professional success so far?
Our crowning achievement lies in our uniquely Irish beetroot products. When we experienced a decline in local raw materials, we decided to use beetroot, a crop that could be grown reliably within Ireland. We collaborated with our local farmers to cultivate the required quantity. As of today, we stand out as the solitary large scale beetroot products manufacturer that solely uses Irish-grown beetroot. This not only certifies the taste and quality of our products but also contributes to supporting local farming.
Could you narrate an incident where you had your back against the wall and how you emerged from it?
In the month of September 2019, a fire broke out in our manufacturing facility due to a fault in the electrical board. It was gearing up to be the festive season and we were warned that it might take us an entire year to resume operations in the damaged building. However, we, along with our dedicated team, didn’t accept this setback. We managed to restart working in four weeks’ time. We shut down the affected part of the building and shifted from a single shift to operate 24 hours a day, seven days a week in the remaining part of the building, in order to fulfill our Christmas orders.
Can you pinpoint an occasion or contract that was a pivotal moment for your company?
There were two monumental occasions for us. The first during the 1990s when Ballymaloe Relish found a spot on the menu of the nationwide chain, O’Brien’s sandwich bars. That a national sandwich chain chose to serve our product was a significant boost for us. In addition, acquiring a listing in Tesco UK made us realise the potential our retail range had to extend beyond the boundaries of Ireland.
Could you mention the best and worst counsel you received when you were just starting?
The worst counsel we received was from a former accountant who, after our inaugural trading year, suggested that we close down our business seeing the discouraging projection.
The most valuable guidance came from Yasmin mirroring her parent’s business ethics. Rather than specific advice, they inspired her to treat their staff respectably, focus on providing high quality products or services, and remain confident in your vision, irrespective of others’ opinions.
What are your views on the future market scenario over the next three years and where do you envision your business?
Our anticipation is that environmentally friendly food products will be sought after more and more by our clientele as they try to opt for meals that have minimal environmental effects. Our aspiration is to become the first preference for our consumers – to assist them in preparing delicious, healthy meals with the least possible impact on the environment.
In an effort to revolutionise and enhance the products or services you provide, what measures have you taken?
To accommodate the lifestyle of dual-working households, which has become commonplace, we strive to alleviate the potential difficulty experienced during midweek meal preparation. We aim to make food preparation simpler by offering minimally processed sauces which gives customers the same taste as making it at home and providing a nutritional meal; as well as providing various options to alleviate the stress of preparing dishes whilst saving time.
Could you elaborate on the ways in which your organisation has been affected by the current inflationary scenario, and what are your projections for the future?
The inflation surge has led to a considerable increase in our costs for ingredients and packaging. While making endeavours to minimise costs through intelligent procurement, we’ve managed to absorb a significant portion to protect our customers from the increased prices, without compromising our product’s quality. Despite the gradual stabilisation of prices which has led to slight margin improvement, it’s unlikely that we’ll witness a full return to the price levels we had prior to inflation.
Profile: Kenneth Fox, Channel Mechanics
With headquarters based in Galway, Channel Mechanics is a platform specialising in automating partner programme procedures. Its core aim is to simplify business procedures for companies intending to penetrate the market via the channel, which contributes to 75% of worldwide sales. The platform allows companies more time to concentrate on relationship-building with partners by taking care of the business aspect. The company, established in 2010, currently employs over a hundred individuals globally.
The platform, constructed following a modular architecture model, presents a variety of functions specifically designed for diverse partner programmes, such as partner training and enablement, partner performance management, partner incentives and rewards, sales promotions and programmes, and inventory operations and compensation.
Could you explain the inspiration behind your entrepreneurial vision or the moment you decided to venture into business?
I noticed the inefficiencies when each company initiated the construction of their own channel automation solution for market penetration amidst my term of service with multinationals. This situation was optimally solved by the application of cloud technology to provide a multi-tenant platform that would be beneficial for all companies.
Could you provide a brief summary of your business model and what differentiates your business?
Our strategy involves identification of potential clientele and establishing trust by addressing their immediate channel requirements, leading to business expansion. A frictionless channel can be established for customers to ensure ease of doing business. This forms the crux of their market penetration model, thereby providing them with a competitive advantage and facilitating them to win partner mindshare.
Could you possibly share the key moment or deal which you regard as a landmark or turning point for your company?
When we first launched our business, it was consultancy services that kept us afloat while we set our groundwork. However, when we took the significant step to shift from consultancy to a product-driven approach, it significantly altered our business for the better. Since making this change, we have observed steady company growth, doubling our size every alternate year since the decision.
When asked about the greatest and worst advice we were given when we first began our journey, I have to say that the most useful advice was to collaborate with Enterprise Ireland. We were lucky enough to be included in their High Potential Start-Up (HPSU) programme, which has been vital to our success, both at home and internationally. I’ve always had confidence in people and have found that most advice is beneficial because people are generally supportive and mean well.
Our future aspirations and global trade activities are fairly ambitious. Channel Mechanics operates on a global scale and is wholly export-led. Our main markets are located in North America and Europe, and we see potential for expansion in these areas. We have currently launched offices in the UK and the US and aim to develop our business to more than $500 million (€462 million) within the next three to four years.
Discussing our funding journey, we started Channel Mechanics as a self-financed start-up and witnessed natural growth. In March of this year, we managed to secure $70 million through a Series A funding round, furthering our ambitious expansion plans to exceed $500 million in the next three to four years. Reaching this benchmark might lead us to seek additional funding to accelerate our growth even further.
In terms of industry disruption, the recent tech sector downturn forced numerous companies to reconsider their market approach. Many turned to channel partners as a cost-effective alternative to increase their scope and revenue growth, causing market disruption and opening opportunities for Channel Mechanics to assist these companies through our platform.
Considering inflation’s impact, as an export-led company, we are not dependent on domestic economy for sales, making its impact minimal. Nevertheless, our cost base witnessed a significant increase due to the majority of our team being located in Ireland. Thankfully, we have seen strong growth in the past two years, and our size has more than doubled during this duration. – Ivor Queally, QK Group
Ivor Queally, the man behind QK Group, a company that spans multiple sectors such as meat processing, cold storage, and warehousing, launched QK Meats in 2004. This was initiated by a contract agreement with a prominent retail firm in South Africa. The company’s beginning operations involved the processing of 2,500 cattle and 7,000 lambs, and they were packaging 400 tonnes for retail every week.
In 2006, QK Group ventured into the cold storage business when it opened its first facility. Its impressive growth resulted in it becoming the prime cold store service provider in the region below the Sahara, boasting a capacity in excess of 200,000 pallets. The company plans to extend its facilities with the opening of an additional space that has a 25,000 pallet capacity in August 2024.
Ivor Queally shares that his business acumen is a product of his upbringing in a family with a strong entrepreneurial streak. His father’s active involvement in creating and nurturing new businesses contributed to his personal vision of managing his own business or working within the family enterprise.
A significant challenge Queally faced was the realization that the pioneer management team lacked the commitment and passion seen in Irish businesses, which resulted in under-delivering services. They promised their main client a service standard of 97%, but initially delivered below 55%. To rectify this, they dedicated weeks to intense work and temporary enlisted key personnel from their Irish operations to occupy crucial posts until a local management team was developed.
Reflecting on his entrepreneurial journey, Queally cited some wise words from his late father. He was advised to believe more in the person in charge (the jockey) rather than the business (the horse), emphasizing the crucial role of people in making a business successful. Another piece of advice was to allow people to learn from their mistakes and experiment with novel ways of operation without jeopardizing the company.
Dealing with the scarcity of fundamental amenities is a significant challenge in South Africa. The country grapples with a lack of electricity for stretches of up to 12 hours in a day. Water rationing, another critical issue, is enforced as the effects of global warming and rainfall shortage have a more pronounced impact on the continent.
In what ways are you overhauling, pioneering, and enhancing the commodities or amenities you provide?
We are purposefully investing in solar power and battery technology as our dependence on the grid and nonrenewable energy sources decreases. Currently, over 32 per cent of our energy demands are met through self-generation, and we hope to increase this to over 62 per cent in the next two years, aligning with our aim to have some of our cold storage facilities fully carbon neutral within five years.
To cut down water usage, we have started to install waterless condensers, reducing our water consumption by a staggering 70 per cent.
What elements make your company an ideal workplace?
Employers in South Africa are faced with more substantial social obligations than those in Ireland, due to more severe socio-economic challenges. A high number of our employees are living with HIV/Aids and have faced hurdles in acquiring antiretroviral [ARV] drugs from government clinics. In response to this, we have set up an on-site clinic manned by our health practitioners, providing easy access to ARVs and proactive health monitoring.
Additionally, we have founded a school, providing a platform for our employees to acquire basic literacy skills, while maintaining their full-time jobs and supporting their families.
What is the most essential piece of advice you could provide to entrepreneurs with less experience?
Establish a connection with a mentor who resonates with you. Choose someone experienced whom you can confide in and share ideas with, someone who comprehends your challenges, possesses valuable connections and can provide guidance when you encounter obstacles or face a situation you cannot handle alone.