Magnetic recently reveled that it has won iProspect and Isobar and has officially been appointed as their management platform of choice. This is a sizeable win for Magnetic as these agencies are two of the global Dentsu Aegis Network’s six brands.
The two agencies have entrusted Magnetic with the management and functionality of their new business development, project & task management, resource allocation, time tracking, billing and other regular daily tasks. The announcement follows a six-month trial stage and an intense two-month pitch against two other companies, which closed in early 2016.
Korak Kuhnert (CTO) first developed Magnetic in 2010. Jan Pickard (CPO) and Dan Marcus (CEO) invested and joined the daily operations in 2012 and 2013 respectively. This all-in-one, intuitive, lightning-fast, project management solution uses only the latest technology. It allows clients to house all their information under one roof, accessible at the click of a button. The company experienced 400% growth in 2014, doubled its revenue in 2015 and today has over two hundred clients (three thousand plus seats) across South Africa.
The Isobar and iProspect wins follow a particularly eventful acquisition period for Magnetic with other recent client wins including: Hero Advertising, Artifact, Titan Digital, Primedia, Leads Machine, Creative Spark and Design Partnership in South Africa. Magnetic has also secured clients in the UK and USA, expanding into both of these areas.
“We needed to find a way to track multiple aspects of our business and operate in an agile way so that tasks could easily be shifted across offices in two different locations. Since we have adopted the Magnetic system, there is transparency across all departments and accounts within our agency. Senior stakeholders are able to get an overview of risks as well as opportunities at a glance. Now that our financial system has been fully integrated, we will be able to monitor and report on financials versus the real-time scenario. This will fundamentally change our business approach from reactive to proactive,” says Tanja Gschliesser, General Manager, Isobar.
To date, Magnetic has serviced only iProspect and Isobar South Africa, but is currently also training the teams at Isobar Nigeria and Kenya and will continue to grow throughout the network as and when required. These are certainly two of Magnetic’s bigger account wins and the company is determined to nurture and develop both partnerships. Magnetic is currently up-staffing and constantly innovating to guarantee them the best possible service delivery as well as the rest of its rapidly growing client base.
“These wins really put us on the map in the agency space. Until now we have only worked with independent agencies, small and large. Closing a large portion of a global network agency gives us huge credibility in the space. It has already opened up massive doors for us into other independent agencies and some of the world’s largest global network agencies, which we are now in the final stages of closing,” concludes Magnetic CEO, Dan Marcus.