i-nexus Global plc
Climate Impact & Sustainability Data (2020)
Reporting Period: 2020
Environmental Metrics
Social Achievements
- All staff agreed to take a 15% cut in remuneration for 6 months at the beginning of lockdown.
- Staff pay returned to its correct level as a result of a fundraise.
Governance Achievements
- Appointment of David Firth as a new independent non-executive director.
Climate Goals & Targets
Short-term Goals:
- Achieve repeatable, incremental sales while operating within financial means.
Environmental Challenges
- Restructured go-to-market organisation due to previous sales failures.
- Severe impact on new business generation due to the Covid-19 pandemic.
- Significant cash squeeze due to Covid-19.
- Late payment of invoices.
- High customer churn, some of which was a direct result of Covid-19.
- Ongoing working capital challenge.
Mitigation Strategies
- Significant cost reduction measures implemented, reducing the monthly cost base by £400k.
- Continued expansion within existing customer accounts, adding £40k of MRR.
- Secured a new customer during lockdown (a US-based global food corporation).
- UK Government’s furlough scheme utilized to reduce costs.
- Fundraise of £1.235m (net of expenses) to secure near-term financial future.
- Return of staff pay to full level after fundraise.