Ted Broman is known, in part, for his optimistic and steady demeanor. He never worries too much when a client defaults on payment or when one of his more than 400 employees makes a mistake.
After all, he's seen worse. Much, much worse.
Broman joined IntegraCore in 2004. At the time, he was president of his own successful software company — so taking a position at a software manufacturing firm as a sales rep seemed counter-intuitive. However, Broman had a sense "there was something there."
That turned out to be more true than he knew, and one of the "somethings" was a mountain of debt and a teaspoon of cash. Several years previously, Broman soon found out, the company had lost its top corporate client. Since then, it had been operating on revenues that were just 5 percent of former levels.
The company's owner sat down with Broman and handed him responsibility for the company's finances and sales.
Broman realized the company would run out of cash in a matter of months. He improved the company's cash management, expanded IntegraCore's capabilities into shipping and logistics and invested heavily in new software to make this strategy feasible. As the company gained strength, Broman decided to purchase it outright, a transaction completed in 2006.
Since Broman assumed leadership, IntegraCore's revenues have grown 70 percent per year, with a particularly good year coming in 2009, in the midst of the recession. That year, the company grew 300 percent in revenues and 500 percent in profits.
Broman recently moved IntegraCore to a company-owned, 400,000-square-foot headquarters in West Jordan and is leading the company's expansion into government and infomercial markets.