Stevinson Discusses the Plan to Get to $1bn by 2030, Original Thinking in the GenAI Era, and Organic Growth

In a rapidly evolving tech landscape, Dave Stevinson, CEO of QBS Software, is steering the company towards ambitious growth targets. With a clear vision to reach $1 billion in revenue by 2030, Stevinson reflects on the transformative journey QBS has embarked upon and the strategies that will underpin its future success.

Project Boolean: A Roadmap for Transformation

At the heart of QBS’s strategy is Project Boolean, a comprehensive transformation initiative designed to prepare the company for significant scaling. Stevinson describes this multi-faceted program as “a huge transformation programme with multiple advisors across multiple functions within the organisation.” The project encompasses refinancing, recruiting, restrategizing, and replatforming efforts aimed at positioning QBS for the anticipated growth trajectory leading into 2025.

Stevinson acknowledges the need for change, stating, “We recognise that what got us here won’t get us there.” This sentiment reflects a broader understanding within the tech industry that past successes do not guarantee future performance. As QBS gears up for a projected 50% growth in 2025, the company plans to expand its workforce by adding 100 new employees, a move that underscores its commitment to scaling operations effectively.

Strategic Acquisitions and Workforce Expansion

In 2024, QBS has already made significant strides in its growth strategy, notably through the acquisition of South African distributor Maxtec and Hungarian software distributor KSKFT. These acquisitions not only enhance QBS’s market presence but also bolster its European influence, positioning the company as a formidable player in the software distribution landscape.

Stevinson emphasizes the importance of building a robust demand generation team and collaborating closely with Tier 2 software publishers. “We are working with those who need help with partner recruitment and enablement,” he explains, highlighting QBS’s focus on driving Annual Recurring Revenue (ARR) rather than merely fulfilling renewal contracts. This strategic pivot towards challenger vendors reflects a keen awareness of market dynamics and the need for agility in a competitive environment.

Navigating Challenges in Hardware Distribution

While QBS is poised for growth, Stevinson does not shy away from addressing the challenges facing hardware-focused distributors. “It will obviously be another year of pain for those distributors with a hardware focus,” he warns. In contrast, he predicts that sectors such as cybersecurity, software, and services will continue to thrive, presenting lucrative opportunities for companies willing to adapt.

To fuel its ambitions, QBS is actively seeking partnerships with companies that align with its growth objectives. Stevinson notes, “We want to find companies who match our ambition and are looking to exit,” indicating a strategic approach that combines organic growth with targeted acquisitions.

The Impact of Generative AI: Hype vs. Reality

As the conversation shifts to emerging trends, Stevinson addresses the growing interest in generative AI (GenAI). “There is no doubt that there is a lot of hype and hope around GenAI,” he states, emphasizing the necessity for businesses to integrate AI tools into their core functions to remain competitive. However, he also raises concerns about data security, cautioning that many organizations may be sharing sensitive information without adequate safeguards.

Stevinson advocates for original thinking in decision-making processes, highlighting the limitations of AI compared to human intelligence. He shares a thought-provoking “malicious theory” about AI content generation, illustrating how repetitive use of AI tools can dilute meaning over time. “This is why we put a great deal of effort into original thought into our recruitment process,” he asserts, underscoring the importance of critical thinking in an age increasingly dominated by automated solutions.

Emphasizing Data Engineering Over Glamour

In a landscape where flashy AI applications often steal the spotlight, Stevinson urges a return to the fundamentals of data engineering. He describes this discipline as “the hyper-critical structure to build the SLM or LLM that is needed for analysis and training.” By focusing on robust data engineering, QBS aims to ensure that its AI systems produce meaningful and accurate outputs, rather than succumbing to the pitfalls of “hallucinations” that can arise from poorly structured data.

Conclusion: A Vision for the Future

As QBS Software navigates the complexities of the tech industry, Stevinson’s leadership and vision are pivotal in steering the company towards its ambitious goal of $1 billion in revenue by 2030. Through strategic transformations, targeted acquisitions, and a commitment to original thinking, QBS is positioning itself not just to survive, but to thrive in an increasingly competitive landscape. As the company prepares for the challenges and opportunities that lie ahead, it remains focused on building a sustainable and innovative future.