Thoughtworks Inc

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This analysis of Thoughtworks Inc is part of our coverage of the world’s 10,000 largest companies.

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Company Description

Thoughtworks Inc is a global technology consulting firm headquartered in Chicago, Illinois. Founded in 1993, Thoughtworks helps companies innovate and transform through the use of technology. The company's main products and services include software development, cloud and infrastructure services, data analytics, and product and design consulting. Thoughtworks serves markets around the world, including enterprises, start-ups, and governments.

Industry Overview

Thoughtworks Inc is a primary player in the software development and information technology services industry, which is worth an estimated $541 billion USD in 2020 and employs over 12 million people worldwide. The majority of these people are based in the United States, India and China, with the majority of the remaining employees located in countries across Europe, South America, and South East Asia. Thoughtworks Inc is a leader in software development and information technology services, providing products and services for clients in over 40 countries.

Industry Classification

In terms of formal classification, Platform Executive has tagged Thoughtworks Inc as a business operating within the Software industry.

Major Products & Services

The main products and/or services commercialised by this business include:

  • Software Development and Delivery
  • Cloud Computing and Infrastructure
  • Agile Transformation
  • Product Design and Innovation
  • Data and Analytics
  • Quality Engineering
  • DevOps and Automation
  • Mobile and Web Applications
  • Security and Compliance
  • Enterprise Architecture

Table of Contents

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Competitive Landscape

Thoughtworks Inc operates in a highly competitive environment within the software development industry. They face fierce competition from other global consulting businesses and technology companies that offer similar services and products. These competitors constantly strive to innovate and stay ahead of the curve, making it challenging for Thoughtworks Inc to differentiate themselves and maintain their market share. The industry is also characterised by rapidly changing technology and evolving customer demands, further intensifying the competition. Additionally, the presence of emerging start-ups and smaller businesses adds to the competitive landscape. In this environment, Thoughtworks Inc must continuously adapt, innovate and deliver top-quality solutions to stay ahead of the game.

Key Competitors

We have identified the following organisations as being key competitors:

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Key Stakeholders

Stakeholders are individuals or groups affected by a business's actions. Understanding their needs helps a business make decisions that benefit all parties.

Internal and external stakeholders include the following:

1. Clients: Clients are the end users of Thoughtworks Inc’s services, products and solutions. They are the ones who purchase the products and services andutilise their expertise.

2. Employees: Employees are the backbone of Thoughtworks Inc. They are the ones who design, develop and deliver the products and services.

3. Investors: Investors are those who provide the capital for the business. They have a vested interest in the success of the business and thus take an active role in decision making.

4. Partners: Partners are the other external organisations that Thoughtworks Inc partners with to build and deliver its products and services.

5. Environment: Thoughtworks Inc takes a proactive role in preserving and protecting the environment. Therefore, the environment is a key stakeholder in the company's operations.

Customers and Cohorts

The main customers of the organisation include:

  • Enterprise customers
  • Government customers
  • Small and medium businesses
  • Non-profits
  • Educational institutions
  • Startups

Competitive Advantages

Competitive advantages are unique attributes, strategies, resources, or capabilities that allow an organisation to outperform its competitors and achieve superior market position and profitability.

Competitive advantages for the business include the following:

ThoughtWorks' Agile Approach: ThoughtWorks applies agile principles and practices to all projects, which enables it to quickly iterate and adapt, while improving the customer experience.

Expertise and Experience: ThoughtWorks has an international team of experienced professionals who bring a wealth of knowledge and experience to any project.

Global Reach: ThoughtWorks operates in over 40 countries and is one of the largest independent software consultancies in the world.

Proven Track Record: ThoughtWorks has a long and successful track record of working with global organisations, from start-ups to Fortune 500s.

Pioneering Technology Solutions: ThoughtWorks has a track record of pioneering and delivering innovative solutions for its clients.

Open Source Technologies: ThoughtWorks uses a wide range of open source technologies to provide customers with robust, cost-effective solutions.

Open Culture: ThoughtWorks has a culture of openness and collaboration, which helps to ensure the success of customer projects.

Market Trends

Market trends can significantly impact an organisation by influencing consumer behavior, altering supply and demand dynamics, and ultimately affecting the organisation’s ability to remain competitive in the market. Staying ahead of these trends enables businesses to proactively adapt their strategies, mitigate risks, and capitalise on emerging opportunities.

As part of this study, we have identified a number of potential trends that could impact the organisation. These include the following:

Market Trends

Key Performance Indicators

Key Performance Indicators
KPIs (Key Performance Indicators) are important to a business such as Thoughtworks Inc as they help measure progress towards achieving organisational goals and objectives. They provide a useful insight into the performance of different areas of the Thoughtworks Inc business and therefore enable informed decision-making.

KPIs also help to motivate employees towards achieving targets.

Below is a list of Key Performance Indicators we deem relevant to this company:

Brand Strength

Brand strength is more than a logo or name. It reflects a company’s reputation and how it is perceived by customers, investors, and employees. It is built on core values, mission, and a unique selling proposition (USP) that differentiates the business.

Brand strength goes beyond superficial elements and taps into core values, the defined mission, and unique selling proposition (USP) of a company.

Below are key reasons why brand strength matters:

Trust and Credibility: In a market flooded with choices, customers gravitate toward brands they trust. A strong brand signals reliability and quality, fostering customer loyalty. Loyal customers not only make repeat purchases but also advocate for the brand, driving word-of-mouth growth.

Brand Strength Analysis

Differentiation: A strong brand helps a company stand out in competitive markets by clearly communicating its value proposition. It creates a unique identity, establishes a competitive edge, and positions the company as a leader in its industry. For example, Google is synonymous with internet search.

Customer Loyalty: A positive brand experience builds emotional connections, making customers less price-sensitive and willing to pay a premium. Loyal customers generate repeat business and act as brand ambassadors, reducing customer acquisition costs and boosting long-term profitability.

Talent Acquisition and Retention: A strong brand not only attracts top talent but also enhances employee morale and engagement. Employees who identify with a reputable brand are more motivated, productive, and committed, driving better business outcomes.

Benchmarking Brand Strength

Below is a guide as to the scoring mechanism used to gauge the brand strength of this company:

A

The company enjoys an excellent level of brand strength.

  • This score signifies that the company has developed a highly regarded and well-recognised brand.
  • Customers and the wider community perceive the company as trustworthy, reliable, and superior to competitors.
  • The company enjoys a strong connection with customers, who actively engage with and advocate for the brand.
  • The company's brand effectively communicates its unique value proposition.
  • The corporate attracts and retains top talent, and its reputation extends beyond its target market.
B

The company has a good brand strength, indicating that it has a solid and respectable brand presence.

  • Customers generally have positive perceptions of the company.
  • While the company may not be as distinctive or well-known as the top brands, it still differentiates itself from competitors and enjoys a loyal customer base.
  • The brand inspires some level of customer engagement and advocacy.
  • The company attracts top quality employees and maintains a good reputation. People want to work there.
C

The business has an average brand strength, meaning it is neither strong nor weak in the marketplace.

  • Customers perceive the company as ordinary or run-of-the-mill, lacking an emotional connection or distinctiveness.
  • The company faces challenges in standing out among competitors and needs to better communicate its proposition.
  • Decent level of customer satisfaction, but significant there is room for improvement in terms of brand loyalty.
  • The company's reputation is neither a huge positive, or negative.
D

The company's brand is quite weak. Work required to increase its potential.

  • Customers have mixed or negative perception of the company, associating it with average or below-average quality.
  • The business struggles to differentiate itself from its competitors and lacks a compelling value proposition.
  • Customer engagement and brand loyalty may be minimal, requiring some effort to improve the brand experience.
  • The company's reputation may have encountered challenges, poor press, or may not be well-known in the market.
E

The company's brand is weak and fails to resonate with customers and audiences. This needs to be addressed.

  • Customers perceive the company as being too unreliable, lacking in quality, or irrelevant.
  • The company struggles to differentiate itself from competitors, and there is a lack of customer engagement, or loyalty.
  • The company's reputation may be tarnished or negatively perceived, hindering growth efforts.
  • Significant efforts are required to rebuild the corporate brand and establish a more positive image in the market.
F

The company has a severe lack of brand strength. It is a problem that needs addressing with urgency.

  • The company is poorly recognised, and customers have negative perceptions or zero awareness of its offerings.
  • The company fails to communicate its unique value proposition or inspire customer loyalty.
  • The company's reputation may be highly unfavourable, and attracting customers or top talent is challenging.
  • Immediate and extensive actions are likely necessary to revitalise the brand.

Brand Strength Score

Scoring brand strength is subjective because it relies on individual perceptions and interpretations of various factors, such as customer sentiment, market dynamics, and the competitive landscape, which can vary.

Using our scoring methodology, the average score of a business is calculated as being C (average). This differs from the average score of the top 10,000 businesses featured in our coverage. Weighted to that cohort, the average brand strength score increases to a B (good).

The analysis team have noted the following factors impacting its brand strength:

  • Thoughtworks Inc is a global technology consultancy that focuses on delivering software solutions, often for Fortune 500 companies.
  • It has been in business since 1993 and has grown to a team of over 6,000 professionals located across 50 offices around the world.
  • Thoughtworks Inc has a strong reputation for quality work, with clients such as Google, Microsoft, and Barclays.
  • Thoughtworks Inc is well-known in the technology and software development industries for its modern, cutting-edge approach.
  • It is also well-known for its commitment to social and environmental responsibility, with initiatives such as its 'Code4Change' program.
  • Thoughtworks Inc has a strong presence on social media and regularly engages with its customers and potential customers.
  • Brand Strength Score: A

7Ps Marketing Analysis

The 7Ps of marketing are crucial components of strategic decision making for any organisation in any industry vertical.

Using the 7Ps in competitive analysis provides a holistic view of the marketplace, allowing businesses to refine their strategies, capitalise on competitors' weaknesses, and better meet consumer needs. The 7P's are defined as:

  • Product/Service
  • Price/Fee
  • Place/Access
  • Promotion
  • People
  • Physical Evidence
  • Processes

All these elements together frame an organisation's marketing mix, crucial for creating effective marketing strategies.

This 7P analysis is designed to provide a valuable insight into the business strategies of the company. It can be used to reveal strengths and weaknesses in their marketing mix, offering opportunities to compare and enhance a business.

1. Product/Services: Thoughtworks Inc offers a range of software development and consulting services to businesses. Their main product is their custom software development, which includes web and mobile app development, cloud computing, and data analytics. They also offer consulting services for businesses looking to improve their technology strategy and implementation.

2. Price/Fees: Thoughtworks Inc follows a value-based pricing strategy, where they price their services based on the value they provide to their clients. They offer flexible pricing options, including project-based pricing and hourly rates, to suit the needs of their clients.

3. Place/Access: Thoughtworks Inc operates globally, with offices in major cities around the world. They also have a strong online presence, making it easy for clients to access their services and information about the company.

4. Promotion: Thoughtworks Inc uses a multi-channel approach to promotion, including digital marketing, events, and partnerships. They also rely heavily on word-of-mouth marketing, as their reputation for delivering high-quality services has led to a strong referral network.

5. Physical Evidence: The physical evidence of Thoughtworks Inc's services is primarily seen through their portfolio of successful projects and satisfied clients. They also have a strong online presence, including a user-friendly website and social media accounts, which serve as evidence of their expertise and credibility.

6. Processes: Thoughtworks Inc follows an agile and iterative development process, which allows them to deliver high-quality products and services efficiently. They also have a well-defined project management process, ensuring clear communication and transparency with clients.

7. People: The success of Thoughtworks Inc is largely attributed to their team of experienced and skilled professionals. They have a diverse and inclusive workforce, with a strong focus on continuous learning and development to ensure their people are equipped to deliver the best services to their clients.

Potential Products

As part of this study, we have carefully examined and prognosticated a range of new products, services, or innovations that this organisation could potentially develop and introduce to strengthen its market position and respond to emerging industry trends.

Software consulting services: Offering consulting services for software development projects, such as design, architecture, and implementation.

Cloud infrastructure services: Offering cloud-based services for companies to manage their infrastructure more effectively and efficiently.

DevOps solutions: Providing DevOps solutions that help companies automate their development, testing, and deployment processes.

Security services: Offering security services that ensure the safety of customer data and applications.

Data integration services: Helping companies integrate disparate data sources into a single platform.

AI-driven solutions: Developing AI-driven solutions to improve customer experiences.

IoT solutions: Developing IoT solutions that help companies gather insights from connected devices.

Mobile application development: Developing mobile applications for clients to help them reach more customers.

AR/VR solutions: Developing AR/VR solutions to provide immersive experiences to users.

Blockchain solutions: Developing blockchain solutions to help companies build secure and efficient networks.

Potential Synergies

Our proprietary product and portfolio-matching algorithm has identified the following organisations as having strong potential synergies with the company, based on strategic alignment, complementary capabilities, and opportunities for collaboration across markets or domains.

1. IBM
2. Microsoft
3. Amazon Web Services
4. Google
5. Salesforce
6. Oracle
7. SAP
8. Adobe
9. VMware
10. HCL Technologies

Porter's Five Forces

Developed by Michael Porter in 1979, Porter’s Five Forces is a model used to analyse industry attractiveness and evaluate competitive environments. It considers five forces:

  • Competitive rivalry
  • Supplier power
  • Buyer power
  • Threat of substitution
  • Threat of new entries

We include this framework because it supports strategic planning, investment decision-making, and long-term competitive positioning across industries by highlighting structural pressures, market threats, and potential profit constraints.

Thoughtworks Inc scores HIGH in relation to the five forces.

The company has a strong bargaining power with its clients, as they are seen as a valuable resource. It also has a strong threat of new entrants, as the industry is difficult to enter. There is a LOW threat of substitutes, as there are few alternatives to Thoughtworks Inc's services. The company faces a MODERATE bargaining power from its suppliers, and a LOW bargaining power from its buyers.

PESTLE Analysis

A PESTLE analysis is used to evaluate external factors affecting an organisation. It examines (1) Political; (2) Economic; (3) Social; (4) Technological; (5) Legal; and (6) Environmental influences. This framework helps businesses identify potential risks and opportunities in the macro-environment, supporting informed decision-making, strategic planning, and long-term sustainability in dynamic markets.

Reasons to use a PESTLE include:

  • Environmental Scanning: PESTLE helps assess external factors, keeping executives aware of key forces
  • Strategic Planning: It identifies opportunities and threats, aiding market alignment and goal-setting
  • Risk Assessment: PESTLE highlights risks, helping businesses develop mitigation strategies
  • Market Insights: It provides insights into trends, behavior, and regulations for better strategy development
  • Business Adaptation: Regular analysis allows businesses to stay competitive by adapting to changes

Below is the PESTLE analysis for this company:

PESTLE Analysis: political, economic, social, technological, legal, environmental

CATWOE Analysis

CATWOE

The CATWOE analysis helps businesses understand stakeholders' perspectives for informed decision-making, covering six elements:

  • Customers: Beneficiaries of the system’s outputs
  • Actors: Those who influence the system’s functionality
  • Transformation: Converting inputs into value-creating outputs
  • World View: The broader context behind the system’s existence
  • Owner: Decision-makers with authority over the system
  • Environment: External factors impacting the system

The CATWOE analysis is most effective when used alongside a SWOT analysis.

SWOT Analysis

This SWOT analysis is a strategic planning tool used to assess the strengths, weaknesses, opportunities and threats of the Thoughtworks Inc business.

When creating this SWOT the team at Platform Executive have taken into consideration the corporate strategy; brand; key financials; the competitive landscape; along with the products and/or services offered.

To offer increased context for future innovation and product development we also consider the historical context for the business and industry; and perceived direction of travel.

Upon researching the company, we have uncovered a number of strategic and operational strengths, weaknesses, opportunities and threats.

SWOT Analysis: strengths, weaknesses, opportunities, threats

Strengths

The strengths of a company refer to its internal attributes or capabilities that provide it with a competitive advantage.

Below is a list of the key strengths we have identified for the business:

1. Thoughtworks has a strong focus on technical excellence and innovation. This has allowed the company to attract and retain some of the best technical talent in the industry.

2. Thoughtworks has a very strong culture of collaboration and knowledge sharing. This helps to ensure that all employees are constantly learning and growing.

3. Thoughtworks has a very flat organisational structure which allows for quick decision making and nimble execution.

4. Thoughtworks has a very strong commitment to social and environmental responsibility. The company has been a leader in promoting sustainable development and using technology for social good.

Opportunities

Opportunities refer to factors that present potential avenues for growth, advantage, or improvement for an organisation.

Below is a list of opportunities we have identified for the business:

1. Expand into new markets: Thoughtworks Inc should consider expanding into new markets geographically and by customer segment. This could include targeting new countries and regions, as well as new sectors of the economy.

2. Enhance customer-facing technologies: Thoughtworks Inc should improve its customer-facing technologies, such as its website and mobile app. This would enable the company to better connect with its customers, improve customer service, and facilitate more efficient operations.

3. Leverage data and analytics: Thoughtworks Inc should leverage data and analytics to make more informed business decisions. This will allow the company to identify new opportunities and make more informed strategic decisions.

4. Increase operational efficiency: Thoughtworks Inc should focus on improving operational efficiency by streamlining processes and investing in new technology. This could include investing in automation and AI-powered solutions to reduce manual labour and increase operational efficiency.

Weaknesses

The weaknesses refer to factors that hinder a company's performance or competitive advantage.

Below is a list of the weaknesses we have identified for the business:

1. Lack of focus on core strengths: Thoughtworks Inc has been trying to be all things to all people, and as a result, has spread itself too thin. This has led to a lack of focus on its core strengths, and has resulted in the company losing market share to more focused competitors.

2. Over-reliance on a few key clients: Thoughtworks Inc has become too reliant on a few key clients, and this has made it vulnerable to client attrition. If one or two of these clients were to leave, it could have a serious impact on the company’s bottom line.

3. Lack of diversification: Thoughtworks Inc has failed to diversify its income streams, and as a result, is heavily reliant on a handful of services. This makes the company vulnerable to changes in the market, and leaves it exposed to competitors who may be able to offer a more comprehensive range of services.

4. High staff turnover: Thoughtworks Inc has a high staff turnover, which has led to a loss of institutional knowledge and expertise. This has made it difficult for the company to retain and attract top talent, and has put it at a competitive disadvantage.

Threats

The threats to an organisation refer to factors that pose challenges or risks to a company's success.

Below is a list of the threats we have identified for the business:

1. Increasing competition in the IT services sector: Thoughtworks Inc is facing increased competition from other IT services providers in the market. This can lead to a decrease in their market share and revenue, as well as a decrease in customer loyalty.

2. Cybersecurity threats: With the widespread of digital technologies, the risk of cyberattacks and security breaches has also increased. Thoughtworks Inc needs to ensure that their systems are secure from data theft and malicious activities to protect their customer's data and assets.

3. Declining customer loyalty: With increasing competition in the IT services sector, customers have more options available to them. Thoughtworks Inc needs to implement strategies to ensure that their customers are satisfied and remain loyal to their services.

4. Emergence of disruptive technologies: Thoughtworks Inc needs to stay abreast of the emerging technologies and ensure that they areutilising the latest technologies to provide the best services to their customers. They need to invest in research and development to keep up with the changing trends and better serve their customers.

5C Analysis

The 5C Analysis is a marketing framework that can be used to provide insight into the key drivers of success, as well as the risk exposure to various environmental factors.

This (concise) 5C analysis examines the external and internal environment for Thoughtworks Inc. It includes analysing the company's customers, competitors, collaborators, context, and capabilities. We have produced this short analysis to identify potential opportunities and threats to Thoughtworks Inc, as well as areas where the company needs to improve its operations or strategy.
Company: Thoughtworks Inc is an IT consulting and software development company that uses technology to bring ideas to life. It provides technology solutions to help businesses create innovative solutions, build digital products, and create customer experiences. It works with organisations around the world to develop software, applications, and platforms that are tailored to meet the unique needs of its clients.

Collaborators: Thoughtworks Inc. works with clients, partners, and vendors to develop technology solutions that meet their unique needs. It also works with other consulting businesses, technology providers, and industry leaders to ensure its solutions are up-to-date and tailored to the needs of its clients.

Customers: Thoughtworks Inc. provides technology solutions to organisations across a range of industries, from healthcare to financial services. It works with clients to develop software, applications, and platforms that are tailored to the needs of its customers.

Competitors: Thoughtworks Inc. competes with other IT consulting and software development companies for clients. It must keep up with changes in technology and provide solutions that are tailored to the needs of its clients in order to remain competitive.

Content: Thoughtworks Inc. develops content that is tailored to its customers’ needs. This includes solutions for software development, application development, platform development, and customer experience design. It also provides resources such as tutorials, videos, and white papers to help customers understand and use its solutions.
5C Analysis: company, customers, competition, collaboration, climate

MOST Analysis

MOST Analysis: mission, objectives, strategy, tactics

The MOST analysis framework is used to identify an organisation's strategic goals, assess its strengths and weaknesses, and develop a plan to achieve its objectives. The MOST analysis helps executives focus on what they want to achieve and how to achieve it, while also identifying potential roadblocks or obstacles.

  • Mission defines the organisations purpose and core values, providing a clear direction and inspiration for stakeholders
  • Objectives are specific, measurable targets that support the mission; they indicate what the organisation aims to achieve within a defined timeframe
  • Strategy outlines the high-level approach the organisation will undertake to reach its objectives, detailing how resources will be allocated and initiatives prioritised
  • Tactics are the actionable steps and specific plans that implement the strategy, ensuring that all team members understand their roles in achieving objectives

We have created this analysis from a 3rd person perspective.

Innovation Scorecard

The team at Platform Executive assesses and then benchmarks businesses and the industry verticals in which they operate using a proprietary scoring mechanism designed to benchmark innovation.

First, we allocate a score of A-E for the industry, based on the key organisations operating within the space; and then score the individual organisation using a 1-5 score.

A score of D-E within an industry means that it is potentially ripe to be disrupted by a new entrant; and/or vulnerable to technological change.

Likewise, a high score of 4-5 for the company in question indicates that it lags behind notable businesses in terms of innovation and product pipeline.

Below is a guide to each score:

Innovation Scorecard

Industry Score:

A The industry is amongst the most innovative; with the leading players all driving the sector forward.
Example industry: PaaS
B The industry and its leading players have a good track record of innovation; and can quickly react to change.
Example industry: Pharmaceutical
C Companies operating within the sector have adequate levels of innovation; and engage in R&D activities when appropriate.
Example industry: FMCG
DBusinesses operating in the industry do not invest enough time and resource into innovation. The sector is stagnant and a good candidate for disruption.
Example industry: Retail Banking
E The major players in the sector seem to lack suitable product development roadmaps; and as a result the sector is highly vulnerable to industry change.
Example industry: Publishing

 

Company Score:

1 The business is amongst the leading players in terms innovation and product pipeline. This will fulfil and reinforce the operations of the business in the medium to long-term.
2 The business has a good track record of innovation, in terms of its products and/or its business model. It is therefore more likely to be able to react and adapt to any changes to the industry.
3 The business is deemed to have an adequate innovation plan, build on research and development and sustainability where appropriate. The business has a product development strategy.
4The business needs to invest more resource and/or intellectual capital in product development, pipelines and/or its business model. The business is at risk of stagnation.
5 The business seems to lack a suitable product development roadmap; and as a result is vulnerable to any notable industry change and/or new entrants in the marketplace.
The team at Platform Executive has judged Thoughtworks Inc as having an innovation score of B2.

Appendices

The appendices section of this report contains supplementary information that we deem helpful in providing a more comprehensive understanding of the report.

Methodology

This study on Thoughtworks Inc forms part of our series of competitive intelligence reports, which focuses on 10,000 of the largest corporates.

The report is based on information and learning from the following sources:

  • Corporate websites
  • Proprietary research databases
  • SEC Filings
  • Corporate press releases
  • News articles
  • Financial data API's
  • Product-matching algorithm

Further Reading

More Information

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Disclaimer

All Rights Reserved.

Reproduction of the content produced in this report is prohibited without the prior permission of the publisher, Platform Executive Pty Ltd.

The facts of this report have been gathered in good faith from both primary and secondary sources. It is believed to be correct at the time of publication, but cannot be guaranteed. As such Platform Executive can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect.

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