Nuix Notes: Monthly updates from the CEO - Feb24

February 2024

What happened to January??  

It’s hard to believe that we are already a full month into 2024. It's also hard to believe that I’ve been in the role as CEO of Nuix for just 2 years. It feels more like 2 lifetimes, because so much has happened!

We’ve been on a journey of transformation at Nuix. Investing in the best of what we do, and innovating and improving where we needed to do better. Business transformations are my bread and butter, but the journey at Nuix has been like no other. There was always incredible potential at Nuix, but there was also opportunity for radical simplification. And in just 2 years, we have done so much to simplify and focus on what matters, which is solving for our customers’ problems and helping them be in command of their data intelligence. So much has changed, and I’ve centred the transformation on 3 priorities, in service of our customers.

• People
• Products
• Purpose
   

People

People are at the heart of all businesses, and I’ve put the cultural transformation at the heart of our business transformation.  I’ve built a new leadership team, and they in turn have attracted new talent. We have been able to punch above our weight with hires we’ve made. The new hires join a crew of incredibly talented and committed tenured team and together are working well to drive the change, at pace.  What binds us is our unique passion for our technology and the important work that it enables our customers to do. As I reflect on what they have achieved, I am in awe of how deep they dig to compress time and bring about big changes quickly.

Of course, the other people at the centre of the business are our customers, and our partners. Time has been invested to listen deeply, to understand their issues intimately, and to innovate to solve for these issues. Some feedback has been hard to hear, but all of it – without exception – truly insightful. Our clients are some of the most impressive organisations in the world, who have some of the most complex data challenges, and they all share a common need to plough through vast volumes of structured and unstructured data, racing against the clock. We’ve delved to understand why most customers and partners choose to do business with Nuix for more than 5 years – many for more than 10 – and those insights have helped us innovate, attracting new customers and partners.

Products

Software companies are only as strong as their products, and we are fortunate to have the most powerful processing engine of its kind. What we have done in Nuix Neo is synchronise all our technology around our patented Nuix Engine, to make the process of data collection, processing, enrichment, analysis and review faster, easier and smarter.  Customers told us that whilst they loved our products, there was friction in between them, and we’ve smoothed that out, to make the process of understanding your data and taking actions on it as fast and easy as possible.

We have also systematised the most common use cases for our software, and created end-to-end solutions. Insights that we’ve gathered from thousands of customers have been poured into our Data Privacy, Investigations and soon-to-launch Legal solution. So they are powered with common workflows and language models that are specific and intelligent, meaning the solutions are turnkey and reduce time to answers. The acquisition of Rampiva last year means that the automation and orchestration of enterprise data is taken up a level again.

All this, in less than 12 months from inception…

Purpose

The people and the products are truly world class. But if I am honest – and I am brutally so! – they were not the real reasons I joined the company. I joined the company because I believed in the company’s purpose.  

At this stage in my career, I wanted to do more than just help the business make more money. Sure, that’s my responsibility as CEO, and the doubling of the share price in 12 months reflects that we’re doing ok. But the real reason I am here – the real reason many of us are here - is because we truly believe that our technology can be used to be a Force for Good. Nuix’s technology serves the people who do some of the most important work in the world. Who protect our security, our safety and our justice systems. The human stories of how we stop acts of terrorism, save children from trafficking, and bring justice to innocent people are humbling…and plentiful.   

Our purpose to make our tech a Force for Good in the world is our fuel, our secret sauce. So we plan to do something bold with that, and commit to a cause beyond commercial. Watch this space and be a part of that journey too.

So, it truly has been a busy period for Nuix, and there is a lot of new, at Nuix.

• New people
• New product
• New sales process
• New support and services
• New ways of engaging with customers
• New brand
• New customers

And yet, there is much more to come, and still a lot to do. A lot of this change has happened behind the scenes, but it’s a journey that I want to share openly and transparently. So I will commit to jumping on here every month, and telling it like it is.

So I will commit to jumping on here every month, and telling it like it is. I love hearing from our customers and partners – so please reach out – my door/inbox is always open.
 

Best,

Jonathan Rubinsztein
Chief Executive Officer