Major strategic shifts in FiveP business, with current product offering Baret to become standalone business following the acquisition.
Melbourne, 29 February 2024 – FiveP, one of Australia’s most trusted providers of digital products and consulting services to organisations seeking to transform their ways of working, today announced that it has entered into an agreement for its Microsoft Business Applications (MBA) practice to be acquired by privately owned financial advisory, Findex.
With this transaction, all of FiveP’s existing business applications customers and the thirteen staff members from this department will transition across to join Findex’s 3000+ staff and 250,000+ clients.
The acquisition represents a new expanded digital services capability offering for Findex, enhancing its end-to-end digital services offering and value for its existing portfolio of clients.
Upon completion of the transaction, FiveP and Findex will continue to operate in partnership.
“We’re excited to continue our partnership with Findex to deliver our mutual customers Microsoft 365 and Dynamics 365 solutions to link people, data, and processes to unlock innovation for businesses,” said David Dennis, CEO of FiveP.
“We are entering our next stage of growth in the SaaS space led by the impact that our role-based messaging solution, Baret, is delivering for health services across Australia.”
As a current product offering of FiveP, Baret – the targeted role-based messaging solution for healthcare teams – is transitioning to become a standalone business following the acquisition. It will be led by current FiveP CMO Matt Krosch as CEO and CTO Jane Prowse, who will be transitioning to focus solely on Baret’s product development.
Baret has experienced a 619% year-on-year increase in end-user adoption across its client base. Monthly platform interactions have also increased rapidly, exceeding one million in January 2024 alone.
With a fast-growing customer base of health and speciality medical services across several states of Australia, this year Baret is set for expansion into APAC and US markets.
“Moving into new markets and serving new industries provides us with a compelling opportunity for growth,” said FiveP’s CMO, Matt Krosch – now CEO of Baret.
“Our customers believe in our product and its ability to empower frontline workers in hospitals and care services to focus on providing the best care possible.”
With an expanded feature set that now includes external collaboration, Baret’s impressive capabilities are even more powerful.
“External parties, not just Microsoft Teams users, can now benefit from Baret’s role-based messaging capabilities,” said Jane Prowse, now CTO of Baret.
“We’re unlocking even more product innovation at an increased pace for our growing customer base. Continuing to provide unparalleled value and meeting the unique needs of our users is what drives us forward.”
Following the acquisition, FiveP will continue to deliver on its legacy of transformative modern workplace solutions across Microsoft Teams and SharePoint, expanding into Security, Identity, and Copilot AI offerings, led by founder and current CEO, David Dennis.
Medhi Qerim, will also continue in his role as Non-Executive Director for both Baret and FiveP, bringing his US market experience growing AI IVR leader Inference to Five9 acquisition in 2020.
“All of these changes represent an exciting shift in the FiveP and Baret businesses,” said David Dennis.
“We’re grateful for the support of our customers, partners, family, and friends, and we remain as committed as ever to our vision of enabling purpose and possibility for everyone in the modern workforce as we make this transition.”
About Baret:
Baret is a secure, targeted role-based messaging solution for Microsoft Teams, launched by FiveP in October 2021. It enables structured communications and assurance of critical information handover across clinical and frontline workers in hospitals and care settings, leveraging the best-in-class security of Microsoft 365.
About FiveP:
Founded in 2013, FiveP is one of Australia’s leading providers of digital products and services to organisations seeking to transform their ways of working with the Microsoft 365, and Microsoft Dynamics 365 platforms. Our mission is to help organisations discover new paths to success by providing technology solutions that unlock their potential.
About Findex:
As one of the largest privately-owned providers of integrated financial advisory and accounting services in Australia and New Zealand, Findex believes in helping you prepare for the challenges of tomorrow, whilst also solving the problems of today. Leveraging our strengths in people and technology across more than 100 locations throughout regional and metropolitan Australia and New Zealand, we work with our clients using smart solutions, a one best way approach and an integrated delivery method via our Family Office model. For more information on Findex and the Family Office approach to small business finance, visit www.findex.com.au