GTT, a virtual network operator focused solely on providing business services, is confident it will be able to reach its $1 billion revenue goal in five years.
It appears that the service provider has been on track in meeting that goal. Already, GTT has achieved revenue run rates of $200 million and $400 million.
“Our current next financial objective is to achieve $1 billion in revenue, which we believe we’re on track to achieve,” said Rick Calder, CEO of GTT. “We did give an outside time frame of within five years and we hope to achieve it by then or earlier.”
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To get to its next revenue growth stage, GTT will focus on finding ways to provide and enhance its ever-growing set of cloud based networking services to multinational businesses.
This includes everything from Ethernet, MPLS, VPLS, internet services such as dedicated internet access (DIA) and broadband, as well as security services like DDoS protection.
A particular area of growth will come with managed voice services, one that GTT entered via its acquisition of One Source Networks (OSN) in 2015. This acquisition gained a set of trunking and managed service portfolio to serve more Fortune 1000 business customers.
Calder said that since GTT has such a small share of the voice market the service provider sees potential upside to grow the segment since it’s not protecting a legacy revenue base.
“We were highly intrigued by OSN’s highly complementary client base, particularly in voice,” Calder said. “Adding SIP trunking and hosted PBX onto our portfolio gave us considerable scope and scale and we see growth opportunity there because it represents only 4-5 percent of our revenue today.”
While GTT may pale in size to AT&T and Verizon in the global market, the service provider is confident it can differentiate itself via its network reach and its sole focus is on business services.
“When we talk about simplicity, speed and agility, I say it’s the antithesis of dealing with an incumbent telco monopoly,” Calder said. “We think we’re a good challenger to those legacy firms and we win an unfair share of business as we grow because they seem to be focused on other things like content and mobile, which aren’t the key drivers our business.”