Solution provider shifted course away from integration toward the fast-growth track in security and storage.Plan B Technologies opened for business two weeks before the Sept. 11 terrorist attacks in 2001. Following the attacks, the company found few opportunities for systems integration work as customers instead poured money into network security and data storage.
That's when the Bowie, Md., company's tagline, "Because every successful business has one," became more than a tagline. The solution provider soon realized it needed a plan B and fast. So security and storage became its new focus, said Steve Taylor, the company's chief technology officer and co-founder.
Since then, this engineering-driven company has carved a fast-growth track by providing business and government clients with their own backup plans, and by specializing in access and networking, security and compliance, and storage. It's a formula that has yielded stellar results and media recognition.
Plan B's annual revenue has grown rapidly during the last five years, from $3 million in 2002 to $12 million in 2005 to $20 million in 2006. This year, the company is on track to reach $25 million in revenue, said Taylor.
Plan B now has 52 employees, twice as many as three years ago.
Last year, the company was named one of the Future 50 independent and fast-growing companies in Greater Washington by Washington SmartCEO magazine as well as one of the Future 50 companies in Greater Baltimore by Baltimore SmartCEO magazine.
Plan B has regional offices in Atlanta, and Bristol, Conn., and a roster of almost 600 clients, mostly in the banking, legal and health care sectors. Clients include USA Today, John Hopkins Hospital and Mercantile Bank & Trust.
The solution provider's largest chunk of business—about 40 percent—comes from storage-related services, Taylor said. "Our storage business helps us pull in a lot of security and business continuity work, most of which comes from existing clients through pretty aggressive marketing," he said.
To keep its technology and business edge over competitors, Plan B maintains a high level of technical certifications, forging close ties with vendors such as Citrix Systems, EMC, Microsoft and VMware. At the same time, the company sharpens its edge by seeking out and partnering with smaller vendors such as eEye Digital Security, of Aliso Viejo, Calif.
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As an eEye MSP (managed services provider) partner, Plan B uses the vendor's Digital Security portfolio of services to make up to 30 percent per sale, charging up to $4,500 per month for the services, Taylor said. eEye's integrated suite of vulnerability management solutions enable organizations to manage the entire life cycle of security threats before, during and after attacks.
"eEye's services are helping us to grow substantially in the security space, which accounts for about 20 percent of our business right now," said Taylor. "eEye's services required very little training—about three weeks for a few engineers."
Taylor said eEye's services have been a great way for Plan B to tie itself closer to customers by offering solutions that enable companies to approach security issues proactively and reactively.
"Plan B has been a strong partner for about six years," said Jeremy Annese, regional director of eEye. "It has made a significant investment in the security space over those years—an investment that has enabled both of us to grow." eEye supports Plan B with leads and marketing assistance.
Looking forward, Taylor said he is confident Plan B will continue growing in the storage and security and compliance sectors. "We market aggressively in those areas, gain a lot of recurring business from existing clients, and see the most opportunities for growth in areas we know well," he said.
