The National Geospatial Data Authority might not mean much to the person in the street, but Ordnance Survey (OS) is something of an iconic brand. As Britain’s national mapping service, it produces vast volumes of location data and a range of services used by the government, businesses and consumers across the country.

OS captures around 20,000 uploads of rich geospatial data about the changing national landscape every day, flying around 100,000km every year to capture the data that populates the National Geographic Database. Walkers will no doubt be familiar with OS’s trusty paper maps, but it’s the organisation’s B2B and B2G (business to government) revenues that provide most of the revenue in the P&L.

The £200m turnover organisation is in the middle of a 10-year government contract – worth just under £1bn over its term – to make that data available to the public sector, including blue-light services, hospitals, transport agencies and local government authorities, to enable the provision of critical services to the public. A 2018 calculation estimated that the data provided by OS contributed around £8bn of value to the UK economy.

Tight public funds and increased scrutiny

Against a backdrop of tight public funds and increased scrutiny, there’s growing pressure to demonstrate the value that OS is delivering, and not just within its own P&L. The man leading that charge is Steve Showell, OS’s CFO. In particular, the challenge facing Showell is the push to commercialise OS’s products and services and reduce its reliance on government revenues, which currently represent 60% of its turnover. 

“We are a data business, but we’re not always known as a commercial data business. So how can we look to increase the number of destinations that we provide our products and services to?” Showell explains.

One of OS’s big successes of the past five years has been the growth of its consumer business. Boosted during the pandemic as more people took the opportunity to get outside, its OS Maps app currently boasts around half a million subscribers who use it to navigate the great outdoors.

Transformation journey

Showell acknowledges there’s still a long way to go on OS’s transformation journey. He is also candid about some of the bumps in the road it has experienced over the last five years, not least its failed ambition to grow the business internationally.

“We’ve recently reviewed that strategy and decided that’s not the route for us. Our focus is now around how we support the UK government to work internationally.” One example is a project OS is working on with the Foreign and Commonwealth Development Office to understand how location-based services can help some of the Commonwealth countries to evolve their own geospatial capabilities. 

“Trying to take a team based entirely in the UK to do business in countries where we don’t necessarily know the rules and regulations is incredibly challenging. There’s much more opportunity for us to do what we do well in the UK to grow our P&L.” 

Broad CFO remit

Showell has no problem dealing with more intangible metrics to illustrate value. In addition to finance, Showell oversees other central teams including procurement, programme management, risk, audit and planning, in addition to being head of strategy. “They all support the commercial and operational units. It’s quite a broad remit,” he admits.

“I see my job as working with my colleagues, customers and the board to understand the business performance, opportunities and challenges, and then develop, build and deliver against the strategy. It’s about understanding what the numbers tell us and then driving change or action off the back of that.” 

OS is also working with the Geospatial Commission to develop the Network Underground Asset Register (NUAR), a digital map of all of the underground pipes and cables in England, Wales and Northern Ireland. Secure access to the data will be provided to more than 600 gas, water, electric and telecoms companies as well as local authorities. The service is due to be fully operational this year.

The government believes NUAR will deliver more than £400m of benefit to the economy every year through increased efficiency of data sharing and excavations, fewer accidental strikes on underground pipes and cables, and reduced disruption for the public and businesses.

Value of commercial experience

Showell enjoyed a varied career prior to OS, which paved the way for the commercial focus of his current role. After qualifying with PwC, Showell joined Vodafone in 2001, when the business was a far cry from the behemoth it is today. Showell spent 17 years with Vodafone across a variety of roles as the organisation exploded in size following its hostile acquisition of German industrial conglomerate Mannesmann, including a four-year stint heading up the commercial function in Amsterdam. 

“While there are plenty of commercial people who are good with the numbers, I took the view that there are fewer financial accountants who have spent time leading a commercial function. By stepping out of finance, I was actively seeking to increase my business understanding, knowledge and capability so that when I returned to finance, I could bring more to the conversation.”

A stint at British Airways followed, as Head of Commercial Finance, working with the commercial teams that work out the pricing for seats and route planning. “It was pre-COVID, and the industry was seeing record volumes.” When the pandemic hit, Showell joined a private equity-backed start-up to experience the highs of fast growth, fundraising and exit preparation.

Driving change on a larger scale

“I went from BA, which made around £30m a day in revenue and had a team of 50 people, to a company turning over £3m of revenue a year with two bookkeepers. Ultimately, the difference in scale was too vast. I enjoyed my time in the start-up world, and we successfully raised funds to enable a partial exit for the owner. However, it made me realise I wanted to return to a larger business where I could make an impact and drive change on a larger scale.”

Ordnance Survey was already on Showell’s radar as a significant employer in the Southampton area, where he had worked with PwC. “It’s got a reputation locally as a great employer. Someone in my network pinged me about the CFO job, and that little nudge encouraged me to put my hat in the ring.” 

His advice to others is to keep your avenues open so that you always have choices about which way to go. “Don’t be so narrowly focused that you can’t get out of the trajectory you’re following. Say yes to opportunities, try different careers and actively take opportunities to increase your understanding of the business you are in. It will only make you stronger as a finance professional.”