E-commerce grew 20% for Costco in fiscal 2015—20 times faster than store sales.
Steven Morris led the company’s recent growth funding round.
Objective Associates Limited, the software and web development firm based in Stirling, Scotland, have strengthened their board ahead of their next phase of growth. Steven Morris joins the board as Executive Chairman having been lead investor in the company’s recent growth funding round.
Steven joins the board as the company accelerates the development of its web based technology to exploit the growing successes of online marketplaces – Seller Dynamics.
“Online marketplaces account for a significant proportion of the £500 Billion e-retail global market”, explained Steven, “but retailers still don’t have the applications and services in place to maximise their return from marketplaces such as Amazon and eBay. It was the opportunity to fill that gap and to help online retailers maximise profits that excited me about the chance to work with Objective.”
Online retail sales growth in the UK is currently reported as growing at around 20% per annum, providing a valuable sales channel for retailers in an otherwise recessionary economy. With consumers hungry for best value and retailers increasingly using multiple online channels, the need for applications which can efficiently manage online stock levels, margins and logistics from a single contact point is at an all time high.
The company will be releasing a new application as well as a range of new services through 2012 which will assist retailers maximise the return from their online sales. Alex Ogilvie, CEO of Objective Associates, said “We’re delighted to get Steven on board – his international expansion experience and unrivalled drive will make a significant difference to the roll out of Seller Dynamics as we take the business forward in 2012.”
About Objective Associates Ltd
Objective Associates Limited are a leading software and web development agency based in Stirling, Scotland. The company works with a range of clients requiring ecommerce solutions as well as multinational organisations requiring internal business systems to assist in the streamlining of sales and business information flow.
Formed in 2002 the company has significant expertise in the design and development of robust and scalable software systems utilising the Microsoft Platform and related technologies.
About Steven Morris
Steven Morris is a successful technology innovator, strategist and business leader having successfully driven innovative ideas from inception to commercialisation on multiple occasions. As a founder of successful high-growth technology development and manufacturing businesses he has delivered technology, raised funds, grown businesses and achieved successful exits for investors.
As an experienced executive he has operated as CEO, CMO & COO, in both early stage and medium sized companies. In these roles he has successfully managed transition, restructuring and divesting following acquisition.
His internationally proven leadership and innovation spans cutting-edge research, development and commercialisation. These leadership qualities are combined with his capabilities to generate, protect and manage IP to maximise retained value within the business.