Frogparking’s Chief Operating Officer, Shareena Sandbrook, says being recognised as one of the New Zealand’s fastest growing exporters in this year’s Deloitte Fast 50 programme is yet another vote of confidence in the company and acknowledgement of the rapid growth seen over the last few years.
The Palmerston North-based global parking technology company took away the Lower North Island Region’s Fastest Growing Exporter at an event in Wellington on Wednesday night.
“The calibre of our competition for this award was incredibly strong; to come out on top shows how Frogparking has gone from strength to strength since we founded the company in 2010. It is great recognition of how hard everyone in the company is pushing to reach our long-term growth targets,” says Shareena.
Growth in sales, delivering a premium product, aggressive expansion into key markets, and a pivot in sales and marketing strategy is being attributed as the main reasons for the continued growth.
“The company is truly global now. Over 75% of our sales last year were exports to the USA or Australia,” says Shareena.
“For us, it was about capitalising and building on early successes. Frogparking already had a strong foothold with lots of happy customers and reference sites in our key overseas markets, the United States and Australia.
“After we raised capital and brought a new group of investors on board last year, we decided to get aggressive and go direct to our key markets with our own team of sales and support people.
“We setup a headquarters in the United States, and are about to do the same in Australia, meaning we have been able to offer the best deal and service to new and existing customers.
“Our customers know that our solution is the only truly premium product in the parking guidance space, with product quality assured by sourcing only the latest and highest quality componentry and by designing and assembling all products in-house.
“We are also the only provider in the market that is offering premium, cloud-based software, which is changing the way our customers see their parking lots. Frogparking’s software is helping our customers understand parking trends & behaviours and influencing future property development decisions,” says Shareena.
For Frogparking, this success is only the beginning.
“Success for Frogparking over the next 1-3 years will involve building on the gains we have experienced in the last 12 months to stay on the same growth trend over this period.
“We will continue to roll out our premium product at sites in the USA, Australia, and New Zealand, increasing sales, and developing more new products to stay at the cutting edge of our industry,’ says Shareena.
A full list of the Lower North Island Region winners, including Frogparking, can be found here: click here. The full Deloitte Fast 50 Index and national category winners will be selected following the Deloitte Festival of Growth in November.