Ansarada (ASX:AND): Developing software for companies to protect and realise their potential in their most critical activities

Ansarada CEO Sam Riley in Executive America

A global B2B SaaS company, ASX-listed Ansarada (ASX:AND) develops technology to solve the problems and frustrations caused by legacy tools, processes, and ways of thinking, enabling businesses to know, raise, and realize their potential.

Ansarada CEO Sam Riley’s vision is to help millions of businesses raise and protect their potential so they can grow sustainably and have a positive impact. Ansarada was established with just $30k in capital and now is publicly listed (ASX: AND). With more than 500,000 professionals using Ansarada’s platform, the company has been a winner of Great Place to Work Awards for 11 consecutive years. Mr Riley is passionate about leadership, simplicity, challenging the status quo, and serving those less fortunate. We spoke with him recently about the formation of the company, the unique products it offers to help customers realize their potential, and the sustained success it has seen since becoming publicly listed.

M&A deal

Starting off the back of a Mergers & Acquisitions deal, Ansarada is a growing company with a unique name, devised as a formation of the first names of the company’s four founders – CTO Andrew Slavin, CEO Sam Riley, CFO Rachel Riley, and COO Daphne Chang.

“In 2005, Rachel, my sister, was working for KPMG preparing a company to be sold,” Mr Riley explains. “Andrew was the Chief Information Officer of that company, and Daphne was the financial controller. During that process they had to get due diligence information ready, which was very stressful and they discovered all these issues in the business.”

When it came time to take the company live, all this information was disclosed to potential buyers. Back then, buyers would do due diligence in person, flying in to the location and physically looking through stacks of paper documents for the information needed.

“The advisors at the time said they should get a virtual data room, because it’s going to be quicker and cheaper, and you get a bit more control. So Andrew ended up building one on his own for that particular deal, and as the deal completed they thought there must be a business in this.”

It was at this point that Mr Riley became involved. With Andrew taking care of software engineering, and Rachel and Daphne being accountants, the group needed somebody with sales and marketing skills to round out the company.

“There was a lot of time and stress involved in these deals. There’s a lot of risk, there’s a lot on the line. So the four of us got together, and our original goal was just to make life easier for those people, save them some time, reduce some stress, give them some analytics to make a confident decision.”

The company is dedicated to getting to know clients well enough to be able to adapt to their problems and therefore help them as well as possible. After many years of doing deals it has been able to identify the gaps in the business that due diligence can illuminate.

Ansarada CEO Sam Riley in Executive America
With over $1 trillion in deal value transacted on its platform since 2005, Ansarada has accumulated over fifteen years of experience on 24,000+ critical deals, helping raise and protect every company's potential

“It’s often too late to fix them in a few weeks or a month, and we see a lot of businesses fail or really get an adverse outcome. To be honest there are some investors and advisors out there that would take advantage of those gaps in the company to serve their own needs.”

Mr Riley admits this never sat well with him, and this was a driving force behind the company’s offering – to help companies become more aware and prepared to fill some of these gaps and improve day-to-day operations.

“That would make a huge difference to their potential, and that would protect them from adverse things and help them grow sustainably. So that’s where we started diving in, to governance, and risk, and compliance, because usually it’s those things that are neglected in a company’s day-to-day operations, but they’re so important.”

In addition, industry trends dictate that deals involve more risk and compliance activity, with businesses getting more complex. It’s no longer sustainable to manage this kind of information manually on spreadsheets, and that’s where Ansarada comes in.

“It’s almost like a hidden tax – if they don’t fix it today then they’re going to have to pay it later anyway. So that’s where we started building products for people to do governance, risk, and compliance, and we made a couple of acquisitions.”

Another area Ansarada’s products are used in is to help major infrastructure delivery, such as the building of airports or public rail systems, where there’s a big tender process, a lot of due diligence and questions asked, and it has to be a fair and equitable process.

“All the functionality we built for people to do that in M&A, we extended that into tendering and procurement, particularly in high-value, high-risk projects. Trillions of dollars of major infrastructure delivery runs on our platforms, which is a very fast growth area of the economy.”

Ansarada CEO Sam Riley in Executive America
The company has now been ASX-listed for just over a year (ASX:AND), and has reported six times to the market

The company has a number of products in addition to the impressive Tender Platform, with the major offerings being Deal Preparation, Board Management, and a specific product to help with Risk & Compliance and ESG Management and Reporting.

“The deals product can be used to do targeted acquisitions, and the integration work. Post-merger there’s a lot of integration of companies, so we’ve got an excellent workflow tool that helps companies do the integration. If you’re raising capital, like debt-based, equity, you’re doing an IPO, you’re going to sell an asset – our deals product runs all of that.”

The board governance product is useful for keeping things organized during board meetings, as well as committees such as Audit & Risk and Renumeration, all of which can be managed through that product.

“We are very unique, there’s no one company that does all of these things on one platform. There are individual solutions within each of those categories, but what makes us unique is we’ve looked at the problem holistically.”

The company’s core market is the lower-middle market companies that are growing, but the CFO has all of these Risk & Compliance issues on their plate in addition to running all of the finance needs.

“Those companies are our overall target market, because we give them the software capability and automation that can often help them when they need it, instead of having to hire ten people to do all that work.”

The company has now been ASX-listed for just over a year (ASX:AND), and has reported six times to the market. Each time it has reported improvement in revenue, customer growth, and profitability, with the company trading at 50% revenue growth YOY.

Ansarada CEO Sam Riley in Executive America
Ansarada CEO Sam Riley’s vision is to help millions of businesses raise and protect their potential so they can grow sustainably and have a positive impact

“We’re in a great shape. The milestones that led to it were solving customer problems, which they see as valuable, and expanding our customers into all those solutions that I spoke about. The major strategy we have is to offer everything in bitesize chunks, and we make that use initially free. So there’s no risk for the customer to use any part of our product.”

This ‘freemium’ strategy allows customers to assess the value in a product, being able to convert it into a paid customer if and when they identify value in it. This also means that every deal it is involved in, the company is exposed to a number of other organizations, making it an excellent expansion channel.

“The long term goal is we want millions of businesses operating with a high degree of confidence, and growing sustainably and having a massive impact, and we want to do that by helping them with all their governance, risk and compliance needs. We also want to bring a great ESG solution to the market.”

Being able to express Environmental Social Governance capability to the market is increasingly important for companies, and there aren’t many solutions in the space, all of which are incredibly complex. Ansarada wants to make that easy for companies.

“I really recommend everyone dive on our website,” Mr Riley concludes. “We have ansarada.com/tv, and we’ve got 2-3 minute films around our customers who tell their story in their own language. So if a lot of this work that we do is foreign to you, just check out some of those videos and you’ll hear various people’s experiences and the value we bring to them.”

With over $1 trillion in deal value transacted on its platform since 2005, Ansarada has accumulated over fifteen years of experience on 24,000+ critical deals, helping raise and protect every company’s potential. Find out more about Ansarada by visiting www.ansarada.com.

SHP: Strengthening communities

SHP President Lauren Della Bella in Executive America

With origins dating back over 120 years, SHP is a diverse architecture, design and engineering practice with two offices in Ohio and one in Kentucky, executing projects and sustaining relationships with clients throughout the United States.

Throughout her 34 years with the company, SHP President Lauren Della Bella is a strong, visionary leader who has spearheaded the Community Engagement, Comprehensive Planning, Sustainable Design Advocacy and Leadership in Energy and Environmental Design services for which the firm is known. She is also the co-author of 9 Billion Schools – Why the World Needs Personalized Learning for All, inspired by the movement of the same name, with which she holds the title Chief Inspiration Officer. Ms. Della Bella spoke with us recently to discuss SHP’s long history, some of the impressive projects and awards it has to its name, and the focus on building and maintaining relationships that differentiates SHP from its competitors.

Education, workplace and community

“SHP is an architecture, design and engineering firm,” Ms. Della Bella explains, “and we have been in business since 1901. We’re now entering our 121st year in business. The firm originally started as a sole proprietor.”

For around 80-85 years of its life, SHP was operating as a small business, but in recent years it has grown by architectural firm standards and now employs around 110 people, including architects, interior designers, engineers, landscape architects, people who specialize in administering construction, and many different types of support services.

“Our firm largely specializes in public institutional work, but our work really falls into three categories: education, workplace and community – places that people gather, places that people experience.”

It is very unusual for an organization of any type to have been around for as long as SHP, which is one of the oldest architectural firms in the United States. Over its 120+ years, there are several points that stand out as significant in the firm’s growth.

“I think that SHP’s culture and our underpinning as a firm, and also our business model, are really built on creating relationships. We help people solve their problems, we help people maximize their resources, we help people plan for the future, and we build trust. In doing that we’re able to become a partner to the different kind of businesses we work with.”

This philosophy is both external and internal, with the firm’s approach to its staff based upon the same principles of building and maintaining relationships. One of the key reasons for the firm’s success and longevity is the treatment of staff like family.

SHP President Lauren Della Bella in Executive America
SHP celebrated its 120th anniversary in 2021

“Another thing is that every generation of leadership has had the foresight to look forward, and you don’t survive in this industry for 120 years without planning for the future. It’s important to be focused on the day-to-day, and the quality of the work that’s being delivered, but you also have to have an eye on what’s coming.”

The firm has always strived to anticipate the ever-changing needs of the sectors it works within, and to make sure it is well-prepared enough to deliver on those needs, a task that is always approached with creativity and fun.

“There’s a couple of things that we do differently [to other firms],” Ms. Della Bella explains. “One is that we really think differently. We don’t think like a traditional architecture firm, or a traditional engineering firm. We offer a lot of non-traditional services, they’re not things that somebody would think that we’d typically provide.”

The main difference is the offering of upfront services – often before a project has even begun – that address a client’s biggest challenges. As a service-focused firm, many of the solutions SHP provides reach well beyond architecture.

“We do a variety of things that we’re well-known for. We’re very well-known for our use of technology; we’re very well-known for our commitment to sustainability and resilience in the work that we design.”

Unique and varied projects

Over the years the firm has undertaken thousands of projects, of many different sizes. Much of this has been done in education, with projects ranging from very small studies, to $100-200m programs creating entirely new school communities.

“Recently we were awarded a grand prize from Learning By Design for a high school that we did in a small town in Dover, Ohio. It’s a great project on a number of levels. It was a very difficult site to work on during construction, because the existing building had to be maintained and it was very close to the new construction.”

This created the additional pressures of keeping children and staff safe while construction was in progress, while also meeting the important challenge of delivering a unique solution that was so important for the community.

SHP President Lauren Della Bella in Executive America
SHP's project diversity includes Cedar Point's Steel Vengeance roller coaster in Sandusky, Ohio

The firm also undertakes one-off projects. One which people may be familiar with is the Orion giga coaster – a type of roller coaster with a height or drop of at least 300 feet – located at the King’s Island Amusement Park in Mason, Ohio.

“It’s one of just a few giga coasters in the world, so it was really exciting for [our engineers] to get a chance to work on that. They worked on it from the standpoint of hydraulics, and some of the other engineering aspects that would go into designing a rollercoaster.”

SHP also does a wide variety of other work, including libraries, corporate offices and headquarters, and a number of projects around the country for American broadcasting giant Cumulus Radio.

“Interestingly enough, more recently with the rise of the craft beer culture and some of the craft alcohol cultures, we’ve been finding ourselves doing distilleries and beer tasting rooms in restaurants, so there’s just a wide range of different kinds of things that we do where people can work and learn and be entertained.”

SHP President Lauren Della Bella in Executive America
Dover High School features a state-of-the-art performance auditorium

The firm has also received a number of national design awards over the years, both from the American Institute of Architects (AIA), the Cincinnati Design Awards, and national awards from its education work.

“The Dover project is a National Education Award, and it’s not an easy award to achieve,” Ms. Della Bella adds. “We were one of two High Schools that were awarded a grand prize nationally, so that was exciting.”

Though it doesn’t actively seek out awards, SHP is always proud to receive them. In addition to the national design awards received over the years, it has been presented awards on a variety of different fronts, from Best Places to Work and Top Workplaces in Cincinnati and Columbus, to awards for marketing strategy and materials, and financial practices.

Industry issues

With two offices in Ohio and one in Kentucky, and projects taking place across a number of other states in the US, SHP is well placed to recognize and adapt to the ever-changing concerns in the construction industry in general, and in the individual sectors within which it works.

SHP President Lauren Della Bella in Executive America
SHP was appointed Tire Discounters multi-million dollar renovation of a six-story historic building in downtown Cincinnati, Ohio

“The things that are concerning us are not a whole lot different than most businesses are grappling with today. Clearly, we’re all still trying to navigate the pandemic, and the impact of that on our businesses and our employees. The lack of available workforce is a huge problem.”

SHP itself has any number of positions it has been trying to fill that it just cannot find people for, with some being more difficult than others, but this being a pervasive issue across the entire firm.

“With our industry in particular, there’s growing construction inflation, clearly the lack of supply that has plagued everything from the grocery stores to the furniture industry is hitting the construction industry as well.”

The struggle with availability of materials is setting project timelines back, and some of the cost inflation makes it difficult to work within budgets established a year or two ago and are no longer close to what they need to be.

SHP President Lauren Della Bella in Executive America
SHP's Winton Woods South School project provides consistent spaces delivering collaboration and shared learning spaces

“I have been with SHP for 34 years,” Ms. Della Bella concludes. “I am really proud of the organization that we are. I think we have amazing talent, just an incredible group of people. This is an organization that has thrived because we really believe strongly in raising people up. The values in this organization are really strong, and they’ve held strong throughout the 120 years of the firm’s history.”

After so many years as a business, achieving localized and national success, SHP continues to strengthen communities by forming and nurturing strong business relationships. Find out more about SHP by visiting www.shp.com.

LaPlante Real Estate: The business of relationships

LaPlante Real Estate CEO Joshua Bowen in Executive America

A full service Real Estate brokerage and Property Management company located in Toledo, Ohio, LaPlante Real Estate’s departmentalized team is focused on assisting renters and helping property investors meet their goals.

Principal Broker and co-owner Joshua J. Bowen’s varied career has spanned over 20 years, providing him with a deep knowledge of business operations, from restaurants, hotels, and resorts to banking and construction, and a passion for service. His full-time career in Real Estate transitioned in 2014 to assisting domestic and international investors develop long-term plans to build wealth and identify investment opportunities that deliver on those goals in the Toledo and Northwest Ohio Region. We spoke to Mr Bowen recently about the origins of the business, the success behind LaPlante’s departmentalized approach to service, and the significant investment opportunities offered by the Buckeye State.

The Buckeye State

“LaPlante in French means ‘the plant’,” Mr Bowen explains, “but the company is actually named after a street just south of Toledo. We started our business on that particular street, and we were trying to come up with a name and it just stuck.”

The company began as a collection of Real Estate investors, but soon transitioned when Mr Bowen’s business partner Andrew R. Fidler began investing in properties in 2009. By 2014, the two men were working together.

“[We were] operating two separate businesses – he had a renovation company, and I had a Real Estate brokerage. Fast forward to the end of 2018, we decided that it was not only in our best interests, but in the best interests of our clients, to take those two operating businesses and serve our clients in the area of Property Management, renovation and rentals.”

This process of merging the businesses, though not completely straightforward, was a big success, helping grow LaPlante Real Estate from a small entity to a much larger operation, with a diverse portfolio of properties in the Toledo area.

“Ohio is really the quintessential midwestern state,” Mr Bowen explains. “We have a really low cost of living, but we have really great amenities – our art, architecture, culture, food, from dining to entertainment, our Metroparks and our green spaces, to our zoos and outdoor venues like baseball and football.”

The Buckeye State is also home to a number of Fortune 500 companies, and Toledo specifically hosts Libbey Glass, Daimler-Chrysler, and Jeep. Toledo was recently ranked the top city in the state for livability, and in the top ten for investment opportunities.

After meeting at a Real Estate Investment meetup, Mr Bowen and Mr Fidler were used to hearing complaints about property managers being difficult – sometimes even impossible – to reach in order to begin proceedings.

LaPlante Real Estate CEO Joshua Bowen in Executive America
LaPlante Real Estate began when business partner Andrew R. Fidler began investing in properties in 2009

“People just didn’t answer the phone, and when they did answer the phone, they didn’t give clear responses, they weren’t direct. That’s something that we looked at. We’ve got people coming to us looking to spend a lot of money, and if they can’t get someone to answer their phone call or respond to their email, this is not going to be a fruitful endeavor.”

In response, the two men made it clear that this access to clear, concise information was essential. Mr Fidler’s renovation business was already thriving, renovating around 20 properties a month for himself and investors.

“I had the part down where I knew how to run a Real Estate brokerage, and I knew how to teach people about Real Estate. That was really the component of getting together, and we really focused on helping people. We focus on helping an investor turn whatever asset that they purchase into a cash positive asset that meets their goals.” This consideration is paramount during the onboarding process for new clients. The majority of conversations start with defining the client’s goals in Real Estate, and working out how best they can be realized.

“Real Estate is a product – we don’t sell Real Estate. We sell a service that supports Real Estate. Ultimately, I’m in the business of building relationships. We are providing services that allow an individual to meet their goals; that’s really our business, and that’s going to sustain us well into the future.”

Mr Bowen has no desire to run a transactional business where he can sell one house, gain commission from it, and move onto the next one. The idea is to create a business that will continue into the future, and a business that transcends the local area.

“The clients that we have in our area, I can count on one hand. We have over 200 clients, and the majority are abroad – Australia, Singapore, the UK, Dubai – and then within the United States, it’s primarily east coast – New York down to Florida – and west coast – California, Washington, Arizona, Texas.”

Departmentalized business

From its modest beginnings, LaPlante Real Estate has continued to grow significantly as a business, now employing 38 full-time staff and agents who help manage 700 rental units and assist 200 property owners.

LaPlante Real Estate CEO Joshua Bowen in Executive America
LaPlante Real Estate has grown from small entity to large operation, including a diverse portfolio of properties in the Toledo area

“We started off with literally just three people sitting in our office,” Mr Bowen says. “We decided that the best way to manage residential Real Estate was to sort of use the assembly line approach.”

The standard approach for many Real Estate brokers is to have a central property manager for a group of properties through which everything runs, doing everything from communicating with tenants, collecting rent, reporting and dealing with maintenance issues.

“Overall, that really bogs you down. You can’t grow past a certain point. If you have one person leave, that throws a wrench in the whole thing. If your property manager leaves, then all that information, all that communication, has to be re-learned by someone else.”

LaPlante’s antidote to this issue was to departmentalize the business, setting up separate groups for operations, accounting, and property management, which is comprised of field services and renovations.

“Field services is our maintenance division, so when someone calls into our office with a maintenance issue, that goes to the maintenance coordinator, then that information is catalogued and disseminated out to our maintenance team, and they’re the ones that are going out to our resident’s home and offering that support.”

In addition to the separate divisions, the company employs a relationship manager through which all necessary communication to and from the owner is funneled, someone who keeps track of day-to-day activities, providing updates and addressing questions.

“We found it easier to provide the owners with the communication they needed, as well as provide the service to the residents that they needed, by having departmentalized service within our company.”

LaPlante Real Estate CEO Joshua Bowen in Executive America
LaPlante Real Estate has continued to grow significantly as a business, now employing 38 full-time staff and agents interacting with both tenants and owners

This means that there are support specialists in operations talking to residents, dealing with ledgers and answering questions; there is an accounting group processing payment, and countless other members of staff interacting with both tenants and owners.

“We all live here in a 26,000sqft facility. We’ve got a warehouse, where all our maintenance people get their supplies. About 80% of our managed portfolio sits within a 3-mile radius of our building. It really helps us to quickly service [our buildings].”

The company’s primary focus is on residential properties, both single family homes and apartment complexes, but it also deals with commercial properties – such as retail areas, office spaces and warehouses – and land services.

“If you’ve got a piece of land and you’re looking to have a developer come in and develop single family homes, we also are in that segment with another sister company. We’ve got currently a housing development that’s in the process right now of building 72 family homes, within a short distance from here.”

The company has been set up to cater for all kinds of Real Estate investors, whether it’s someone with a passion for residential single-family homes, someone looking to be a funding partner for spec homes, or an investor who only buys strip malls. LaPlante has the ability to serve and support all different types of investors.

“I’m in this business because of relationships, and I have seen exponential growth over the last ten years – not just in Real Estate, but in all of the components that make up a really great community. We’ve had so much investment that has come into our town and our city.”

Within the Northwest Ohio Region alone, there is $4bn worth of development scheduled over the next four years. Recent developments have seen two Amazon facilities built in the region to keep up with the demand for the company’s service. The area is thriving.

LaPlante Real Estate CEO Joshua Bowen in Executive America
The company’s primary focus is on residential properties, both single family homes and apartment complexes, but it also deals with commercial properties

“From my perspective, this is really such a good time to be here, and to be part of everything that is going on. All that we’re seeing is opportunity, reinvestment in our streets and our infrastructure and new investment, not just in manufacturing, but in the cultural components of what makes our community great.”

As a seasoned member of the Real Estate industry, Mr Bowen cannot resist ending our conversation by providing some important advice to people who may be considering investing in Real Estate.

“Make sure that you go into it with eyes wide open and understand that there is risk involved in any investment. Partner with somebody that is responsive and someone who has your goals in mind. Ultimately, any investment that you do, has to be able to meet your goals, otherwise it’s not worthwhile.”

With a departmentalized business model and a firm focus on helping investors meet their goals, LaPlante is a company reaching far beyond its local market. Find out more about LaPlante Real Estate by visiting www.laplanterealestate.com

Digital transformations on the wrong end of the stick

scio-asset-management-inc-founder-and-managing-director-paul-daoust-in-the-EA

There’s a growing body of evidence demonstrating technology-led digital transformations are overpromising and under-delivering returns on investment for owners in asset-intensive organizations.

According to McKinsey & Co., 70% of digital transformations are failing to meet stated business goals. For industrial sectors like manufacturing, utilities, energy and mining the reports are worse, the rate can soar to 80%. That doesn’t mean these major projects aren’t providing any value, just that the ROI can and should be questioned as a good business decision.

Certainly, asset owners are spending millions or tens of millions of dollars on technology investments to revamp their enterprise solutions architecture. By no coincidence management consultants, systems integrators and solution providers are making millions or tens of millions from these improvement initiatives. 

What value are the asset owners realizing? The exact returns on these investments are often unclear, obfuscated and rarely published in investor presentations and annual reports. Despite research to the contrary, most companies believe what they’ve done is good enough, thank you very much. Nothing to see here. This is fine.

This, of course, impacts Canadian business competitiveness both domestically and globally. It adversely impacts productivity which lowers profitability in private sectors and increases the cost of service in public sectors.

It’s not all bad news. The technology-first approach to organizational transformation in the pursuit of operational excellence has provided infrastructure with tremendous potential. Access to data stored and managed in the cloud has grown exponentially. Analytics tools and platforms offer limitless analysis capability. Now, anything is possible!

Unfortunately, potential doesn’t pay the suppliers. Potential doesn’t pay the shareholders. Potential doesn’t deliver value to other stakeholders like customers, regulators, communities, etc. “Potential is like a summer crop. If it don’t rain, it don’t grow.” – Charles Oakley.

This is a classic case of Field of Dreams – build it and they will come. “Data informs decisions!” we shout. This is precisely where one should question – which decisions exactly? And how? Because that’s where the conversation usually ends.

Our digital transformations haven’t been working because it’s been technology first, people and decisions second. Few initiatives have included an appropriate organizational redesign and new competencies for its people. Fewer changes have been accompanied by revised operating and governance models that complement the new technology. There’s lots of talk about Industry 4.0 but technology isn’t enough when people and decision-making are not adequately supported. We’ve missed the boat on Industry 4.0.

Douglas Hubbard, a risk and decision expert and author at Hubbard Decision Research has asserted, “The most important decision you will make is how you will make your decisions.” This statement is profound in the pursuit of operational excellence as a business outcome. Excellence is an incredibly high bar without room for compromise.

One root cause in underperforming digital transformations is that in the face of massive investment, organizations collectively are still no better at decision-making than they were before the change took place. This is the battleground where operational excellence is won and lost.

Our technology investments have revealed an immediate bottleneck – our people’s capability to ask and answer the right questions resulting in more, better decisions. Data scientists can do almost any manipulation of the data but require capable subject matter expertise to ask and answer the right technical questions with the data and analytical tools. 

It isn’t just the practitioners; leaders are also at fault. What are the key management questions operations leadership is asking of its organization and to what quality are those questions being answered by its practitioners? How are these questions and answers leading to decisions?

What is a decision exactly? It is a choice made under conditions of complexity and uncertainty to meet business objectives.

A decision’s level of structure and rigour applied must be consistent with its degree of complexity and consequence potential. Some decisions are a simple yes/no choice where it is appropriate to use experience and intuition. Other decisions are very complex involving multiple solution options for multiple objectives requiring considerable data and analytical evidence. Good decisions must incorporate not only the best available knowledge but the uncertainty around that knowledge. This is why many decisions should be made with simple quantitative two-pass model frameworks. The first pass gets us into the ballpark while a refined second pass reduces uncertainties associated with the inputs.

There are many questions that should be considered in proper decision-making: What are the important decisions to be made? Who makes them and who is included to provide support? When should they best be made? What knowledge is required? Does knowledge come from experience, data evidence or both? What options, alternatives and scenarios should we consider? What business objectives do we value? How will we balance financial (production revenue, cost) with non-financial (safety, environmental, customer service and quality, social governance and sustainability) drivers? Is this a satisfying decision or an optimization decision? If optimizing, for what and over what period? What if we’re wrong? What are the constraints and can they be tested? What biases exist and can they be minimized? What if we’re wrong? Is the decision reversible? Can we live with the decision if the result turns out poorly?

This structured decision-making technique is rarely utilized.

What’s at stake? A lot. By definition, performance benchmarking allows only 10% of operating companies in the top decile and 25% in the top quartile. These organizations already have good management practices to get them there and believe in continuous improvement to raise the bar even higher. That means the remaining 75% of companies either stuck in the mediocrity of second or third-quartile (or worse) have a lot of work to do to keep up and catch up. The good news is it can be done. McKinsey & Co. say that 10% of companies can actually make the leap to displace an incumbent in the top quartile.

According to Solomon Associates, the difference between average and top-quartile performers can be a 6% increase in production and a 45% reduction in spending. That difference is massive in any organization and is largely due to the organization’s decision-making capacity. Decision management is the key to operational excellence results.

How good is the organization’s current decision-making? Hubbard says it is reflected in the organization’s decision track record. Unfortunately, most organizations are not very good at tracking their decisions, actions, and results. Sadly, many managers would prefer their decisions not to be tracked as the transparency can be uncomfortable. Ultimately, however, decision quality is reflected in operational performance. In the words of W. Edwards Deming, “Your system is perfectly designed to give you the results that you get.

Often the important decisions are obscured in our policies, standards and business processes. Or there is some expectation of some nameless decision to be made with data once analyzed. “Data informs decisions!” we repeat.

There is a principle, an acronym called DIKDAR adapted from data quality management that tells a story. Data > Information > Knowledge > Decision > Action > Result is a progression more than a process. Data by itself is not useful until the technical context is added. This may be done through analysis to synthesize data into information. Information is still not yet actionable until the business context is added to form knowledge. With knowledge, a decision may be made. The decision guides what action will be taken in the form of plans and tasks that deliver a result.

Everyone wants great results. Most people are predisposed to action so once the decision is made, execution is assured to follow so the ‘A’ and the ‘R’ are not the problem here. The key is to make the right decision. Many people will concentrate on the data and information with some notional idea of a decision. This discovery method yields mediocre results. A better way is to centre on the decisions to be made and work backwards. Start with a decision and determine the knowledge required to make the best decision possible at every opportunity. Then determine the information and analytics required to support that knowledge, and finally, determine what data is useful to support the required information. This more deliberate method provides superior results. Some data is more important than other data. The deliberate approach allows the distinction of valuable data to support the decision while the discovery approach does not.

What are the important decisions to be made in operational management? The ISO 5500x Asset Management family of standards provides guidance on how asset owners should coordinate the organization’s activities to create value from its assets to meet the strategic organizational objectives for its stakeholders. These expectations are communicated more practically in the Asset Management Landscape document by the Global Forum for Maintenance and Asset Management (GFMAM.org). This reference clearly and simply outlines the fundamentals of asset management and the 39 subjects of asset management in six subject areas. This set of practices cover the entire asset lifecycle from cradle to grave.

Formal asset management should be foundational for all asset owners but the adoption of this relatively new disciple and emerging profession has been slow globally, particularly in North America. The reason in part for the slow uptake is because of how asset management practitioners have tried to offer and deliver asset management as a heavy-handed standalone documented asset management system that does not integrate well with the asset owners existing operational management.

A more beneficial approach is to cut to the chase, go directly to the important decisions throughout the asset life cycle. Fortunately, there are a finite number of important decision types within those 39 subjects of asset management. A more effective management system framework would codify those decision types and offer a decision model for each enabling the best decision possible at every opportunity. Decision models can be standardized by decision type using simple and proven problem-solving and decision-making methods like the A3 PSDM. Now the knowledge, information and data required to make the best decision are revealed and made obvious. 

An interesting phenomenon happens when the perspective changes from managing the “tasks to be done” to the “what and how decisions are made”. Suddenly the overwrought business process becomes simplified. We no longer need volumes of policy, standards, processes and procedure documents that no one reads (TL;DR – too long didn’t read). Better decision-making can be accomplished with only a modest investment in our people’s competencies and simple tools to consistently make more, better decisions.

Data is the wrong end of the stick. Digital transformations laser focus on data and data management in its technology-led solutions has obfuscated the forest for the trees. Decision management is the right end of the stick. Leaders would do well to center themselves and their organization on more, better decision-making.

Decision-making doesn’t need to be perfect for perfection is not a reasonable expectation. In all decisions made by either commission or omission, there will always be good decisions with good outcomes, bad decisions with good outcomes, bad decisions with bad outcomes and good decisions with bad outcomes. Decision-making simply needs to be better than it was before and hopefully better than peers or competitors to realize more value through continuous improvement.

Digital transformations to date have left operational leaders greatly underserved for the job-to-be-done: to direct the organization’s activities to deliver more value from the same assets with fewer resources. There is a solution. An Enterprise Operational Management System (EOMS) as a simple and effective framework gives leaders the tools to manage, lead and govern the organization.

The EOMS is the lens through which leader see their organization. It is the space where they think about operational performance. It is the canvas upon which they decide where to disproportionately apply its vast and scarce resources. It is how they instruct the organization to act to achieve the desired business outcomes. See. Think. Decide. Act.

Intelligent EOMS design starts with first-principles decision management and also includes systems thinking, human-centred design, modern leadership attributes, choice architecture as well as asset management fundamentals and select operational excellence practices all wrapped in a low administrative burden framework.

The EOMS reframes the wicked problem of value leakage from suboptimal decision-making. It provides the right balance of structure and discipline with flexibility and innovation. It integrates all the activities of the organization to deliver more value than would the sum of its parts. It is built for leaders and first-principles decision-making. As a framework, EOMS fits any organization regardless of maturity or complexity.

An enterprise operational management system is the keystone apex solution that courageous operational leaders in progressive organizations need to manage, lead and govern their organizations. The EOMS is the technology missing from digital transformation projects and the enterprise solution architecture in the odyssey operational leaders are undertaking. Maybe we will get it right in Industry 4.1.

After the digital transformation, operational leaders now need a transmutation of their organization’s decision-making capability. Let it rain to nurture our crops. Step out of the cornfield onto the field of dreams. 

Paul Daoust is the Founder & Managing Director of Scio Asset Management Inc., www.scioam.com.

Bellator MMA President Scott Coker: Transforming the American sports landscape

Founded in 2008, Bellator MMA has been a staple of the combat sport world for over a decade, and is the second largest combat sport promotion in the United States. In 2014, Mr Rebney was replaced by the founder of MMA and Kickboxing organization Strikeforce, Scott Coker, who was bought in to make the promotion less tournament focused. Born in Seoul, Korea, Mr Coker relocated to the US as a child, settling in San Jose, CA. Executive America spoke with Mr Coker to discuss his love for martial arts and the future of Bellator.

Martial arts

“It’s been an interesting journey,” Mr Coker says of his career so far. “It really goes back to martial arts. I was a student of [American martial artist] Ernie Reyes Sr., and I just fell in love with martial arts. I had a school, I used to teach children, teach adults. I dedicated my whole life to helping grow martial arts and helping educate people about martial arts.”

For Mr Coker, the eventual move into the growing sport of MMA was a natural extension of this love for the discipline. Since MMA has become more accessible, with shows airing on prime-time television, its reputation and appeal has grown rapidly. Mr Coker has certainly been a driving force behind that growth.

“Mixed Martial Arts is an eclectic style of different disciplines, combined into one discipline, which is becoming its own discipline. That’s what the future of martial arts is. It’s proven in the cage every Friday and Saturday night somewhere on the planet.”

As a taekwondo student in the San Jose region, Mr Coker began his journey into promoting by starting to organize kickboxing events. The first show he promoted was at the San Jose Civic Auditorium, the largest venue in San Jose at the time despite holding just 3,200 people.

“[It was] in 1985, at the Civic Auditorium. No TV, no sponsorship, just a live event where you sell tickets. We had a big support group in the martial arts community in the Bay Area, which at that time had probably about 80-100 [martial arts] schools, just in the San Francisco Bay Area. We would go out and get the community to support us.”

This first fight attracted around 2,800 spectators, nearly 80% of which came from local martial arts schools. Mr Coker made around $5k that night, and immediately realized the potential of promoting fights again in the future.

“That was my start, and within a year I started doing fights for an organization called PKA [Professional Karate Association], which had fighters like Ray McCallum and Dan Anderson. It was on ESPN, and the ratings did very well.”

After the collapse of PKA, one of Mr Coker’s team contacted ESPN to see if the network was still interested in kickboxing. The answer was ‘yes’, and the result was a new show called Strikeforce, which began in 1993. This was the beginning of the brand that Mr Coker would go on to establish several years later.

“It was strictly kickboxing,” he says. “We did Muay Thai, we did fights all over the world. It was 22 shows a year, all kickboxing. Then I got an opportunity from that to meet [karate master Kazuyoshi] Ishii from K-1. The greatest fighters in the heavyweight division at that time were fighting in Japan, and they asked me to run their North American operations.”

After considering his options, Mr Coker agreed to work for K-1 for a while, gaining huge experience from his time there. In 2006, MMA was made legal in California and he wasted no time founding Strikeforce MMA, which opened with a fight between Frank Shamrock and Cesar Gracie at the SAP Arena in San Jose.

“Working for Mr Ishii in Japan was like going to get your Graduate Degree. I felt like I had a Master’s Degree already. What he taught me was the international side of the business. Coming from martial arts, we just spoke the same language, and he took me under his wing and showed me the ropes, which I’m forever grateful for. He was a great mentor.”

Free form fighting

The evolution of MMA as a discipline over the last few decades has introduced many martial arts fans to newer, more free form fighting. For Mr Coker, the evolution was no surprise, as he had grown up with an eclectic Filipino master as an instructor, gaining experience in styles other than just traditional taekwondo. 

For the fighters, the evolution was slower. After different styles of fighter joined the discipline over the years, they had to adapt their styles to the demands of the sport, and this meant learning techniques from multiple disciplines.

“It took about fifteen years until people understood – I’ve got to do jujitsu, I’ve got to do wrestling, I have to do striking, boxing and Thai boxing. Georges St-Pierre I believe was one of the first fighters who put it all together. Now what you see is a complete fighter.”

It soon became clear that if a fighter wasn’t able to learn all these different styles and successfully combine them, they would be at a disadvantage when facing others that were able to do so. The modern MMA fighter was born out of this need to compete across styles.

After Strikeforce was sold off to Ultimate Fighting Championship owner Zuffa LLC in early 2011, Mr Coker briefly became an employee of the UFC, needing to wait out a non-compete clause before he could invest his time into his next venture.

“I didn’t really know what I was going to do when the non-compete ended,” he admits. “Probably about 3 or 4 months before the non-compete ended, I started getting offers from different people to meet.”

One of his first meetings was with Kevin Kay from Spike TV, which is owned by Viacom, to discuss taking over Bellator MMA. At this point, Mr Coker wasn’t sure that he wanted to build something for someone else, and was determined to branch out on his own.

“I felt like Bellator was not doing that well at that time, it did not have the roster that it has today. Today it has one of the greatest rosters that I’ve ever been associated with; the best roster in the history of this company, that’s for sure.”

The problem was that Kevin Kay came across as a genuinely good guy, with the power of persuasion on his side. Mr Coker pretty quickly liked his vibe, and bought in to the ideas he had about the future of Bellator.

“I thought, I wish I didn’t like this guy this much as far as wanting to work with him. I think I could learn a lot from this guy. I woke up one day and I said: ‘alright, let’s just do it.’ That was probably about five and a half years ago.”

Bellator MMA

By the time Mr Coker had agreed to take over Bellator, previous CEO and Chairman Bjorn Rebney had already been let go. On arrival at the company’s offices, Mr Coker reassured staff that their jobs were safe, and that there was a lot of work to do to get up to speed.

“The very first Bellator fight I went to after taking over, it made me realize that we had a lot of work to do, and a lot of growth to do. It’s taken five years to get there. These fighters, it takes about 4 or 5 years to build them, to get them competitive to where they can fight anybody in the world. It’s not going to happen overnight.”

When Mr Coker came in, the biggest change needed was to invest in talent, to start signing fighters and building them. In addition, Bellator had so many overlapping tournaments running that fans would struggle to follow everything that was going on.

“So I said, we’re going to take a step back. We’re not going to do the tournaments, we’re going to do single fights, start building from the ground up, buying free agents from the top down. We did what we needed to do to survive the first couple of years with the talent base that we had, which was moderate at best.”

Today, Bellator’s strength is in building a roster from the bottom up. Mr Coker has helped to make the company good star identifiers and builders, with a real solid background in finding and recognizing talent.

“We have access to every gym in the country, every manager in the world. When you pluck somebody from a boxing or jujitsu tournament, it’s not going to be a very quick process. Now people are able to see the fruits of our labor for the last five and a half years. It’s the exact same formula I used in Strikeforce, and I think we’re going to have great results.”

Bellator now has 250 athletes signed under contract, having built the best roster it has ever seen. The whole model is relationship-based, and Mr Coker has made it his mission to gain trust in the players and managers in order to recruit the best talent. 

“It’s been quite a ride,” Mr Coker concludes. “Thirty-six years. When I sold Strikeforce, I remember saying to somebody – it only took 24 years to become an overnight success. Now, thirty-six years into it, it’s been a rollercoaster ride, but so many great high points and I just love it. It’s been a lot of fun.”

To find out more about Bellator MMA, visit https://www.bellator.com.

Acerus Pharmaceuticals (TSX:ASP | OTCQB:ASPCF): Building a sustainable, value-driven company

acerus-pharmaceuticals-tsx-asp-otcqb-aspcf-president-ceo-ed-gudaitisin-executive-america

A TSX-listed commercial-stage pharmaceutical company, Acerus Pharmaceuticals has a vision to become a leading specialty pharmaceutical company focused on urology and Men’s Health with its nasal testosterone treatment, Natesto.

Founded in 2009 and listed on the TSX (ASP) and the OTCQB (ASPCF), Acerus Pharmaceuticals is a micro-cap with a market cap of $50m CAD as of August 25th 2020. Company President and CEO Ed Gudaitis has held numerous senior positions in multi-national pharmaceutical companies, working in both Canada and the United States, and has been responsible throughout his career for launching and building billion-dollar pharmaceutical product franchises and country operations. Mr Gudaitis discusses Natesto, the firm’s disruptive technology that can potentially secure significant share in a more than $1 billion USD global market, the unique opportunity available to potential investors in the company, and Acerus’ vision to become a leading specialty pharmaceutical company in urology and Men’s Health.

Nasal testosterone

“Acerus is a commercial-stage specialty pharmaceutical company,” Mr Gudaitis explains. “We have an approved product on the market that we are commercializing, and our focus of effort is on specialists, not primary care physicians.”

Although the company is based in Ontario, Canada, its business is global. The company manufacturers and commercializes its core product, Natesto, in a number of global markets, including the US, Canada, South Korea, and Taiwan, with plans to move into Europe in the next eighteen months.

“In the US and Canada we commercialize the product directly through our own sales and marketing efforts, while in South Korea and Taiwan, and eventually in Europe, we commercialize through partnerships with local operating companies.”

Unlike some other companies in the specialty pharma space, Acerus is not built on licensing in other people’s assets. Acerus’ focus is on manufacturing and commercializing its core product in-house, making it a unique proposition as a company.

“We’ve been around for a while. Formed in 2009, the company has gone through a couple of iterations of strategy. It was previously called the Trimel Pharmaceuticals company, and it was structured to capitalize on a core technology, our nasal gel technology, which enables us to deliver products in a unique, patient-friendly manner.”

The problem that the company looks to solve is a very unique. Our primary market opportunity is the treatment of low testosterone, otherwise known as male hypogonadism. Around 14 million US males potentially have low testosterone, making a sizeable possible market.

“It’s about a $1bn USD prescription product market opportunity in the United States, with about 7 million prescriptions written per year. There are products that exist today, however there is no truly ideal product in the market place. There are a number of products with challenges in terms of how they’re delivered.”

The main options in the market for low testosterone currently are testosterone injections, deep and painful injections with a large needle, presenting challenges with self-injection. There are also topical gels, which act like a skin lotion that you rub in each day.

“With the topical gels, you have to worry about potentially transferring the product to your spouse or your children,” Mr Gudaitis explains. “After you apply the product to your body, you have to let it dry for twenty minutes, it can absorb differentially and not evenly all the time. As a result, there are several challenges with existing products in this market.”

It is estimated that up to 70% of patients on prescription treatments for low testosterone will switch therapy at least once to look for better options, as patients and their physicians are unsatisfied with the current treatments available.

“Prescription treatment of low testosterone is a very large market that has been well established. Physicians know how to diagnose, treat and prescribe low testosterone treatments. However, there is no single ideal product in the market. We think we can solve a number of problems within this large market, providing a patient-friendly, safer, effective alternative in a very large and growing market opportunity.”

Acerus’ unique technology creates a different product than any other in the market for testosterone treatment, an intra-nasal gel application of testosterone applied with a small dispenser three times a day on the inside of your nostril.

“It’s a little bit like a topical hand lotion that you would put on your hand. It’s a gel, not a spray, applied with our dispenser on the inside of your nasal cavity. The product is rapidly absorbed, highly effective, with low side effects.”

acerus-pharmaceuticals-tsx-asp-otcqb-aspcf-president-ceo-ed-gudaitis-in-executive-america
“With the topical gels, you have to worry about potentially transferring the product to your spouse or your children” - Mr Gudaitis

Unsatisfied market

The uniqueness of this nasal testosterone technology offers investors an exciting opportunity to invest in a company with a highly differentiated, unique product offering.  The technology is an Acerus propriety technology, which was licensed in by Acerus, protected by a strong patent strategy.

“The Intellectual Property in the US, Canada and Europe is very long-ranging. We have a current suite of patents that would take us into the mid-2020s. We have new patent filings and strategies that we’re actively working that would take patent protection into the early and potentially the late-2030s. We have a unique technology and a solid IP platform to work from.”

This means the company has a ten or twelve year run in front of it with a very large, unsatisfied market opportunity to be capitalized on. This opportunity is primarily in the United States, but there is also significant market opportunity in the Canadian and European markets.

“If investors are looking for an opportunity,” Mr Gudaitis says, “we’ve got all the pieces in place, we now need to execute and deliver on the opportunity that’s there. We’ve got a better product, in a large market that’s unsatisfied – let’s go and make it happen.”

The company’s management team is made up of Mr Gudaitis, who has been in the pharmaceutical business for over 25 years, and new additions who bring relevant expertise within the US pharmaceutical market – Chief Medical Officer Dr Chris Sorli and US Commercial Leader Kevin Hickey.

“I spent about eleven years with Gilead Sciences as part of my career journey, some of that here in Canada building the Canadian operation from scratch to about a $1.2bn CAD business, but also in the US, where I was Senior Director for HIV marketing for a number of years, launching several large HIV products in the US.”

Dr Sorli is a board certified US-based endocrinologist and is responsible for the company’s medical affairs and R&D activities. His background is in diabetes, metabolism and Men’s Health.  He has previously organized and set-up a large men’s and women’s health practice in his home state of Montana. 

“[Dr Sorli] has direct clinical experience treating the type of patients we would be treating with Natesto, but he’s also very much been on the forefront of metabolic disease and diabetes, which is an area that we’re interested in looking at with respect to Natesto, and he’ll be actively driving the strategic development of the clinical profile of Natesto.”

Based out of Philadelphia, Mr Hickey brings fifteen years of direct commercial experience in the US and will be responsible for leading the Natesto business in the US as the company moves forward.

“From a management perspective, we’ve got people with direct experience in the U.S. marketplace, and relevant experience to our business, to our therapeutic area and to what we’re trying to achieve onboard at Acerus.”

The company’s board has also seen some recent additions, complimenting a number of long-standing members, including Chairman Ian Ihnatowycz, who has served as a Director since September 2013.

“[Ian] is our leading shareholder; he owns about 84% of the company, and he’s been a long-time board member. He’s a long-time investor and has been a core visionary for the company over that period of time.”

Other long-time board members include entrepreneur Stephen Gregory, and Borys Chabursky who is the founder and Chairman of Shift Health, a healthcare consultancy in Toronto, plugging him in to the start-up, Venture Capital and healthcare consulting spaces.

“We’ve added two new board members recently – a fellow by the name of Scott Leckie, who’s our Audit Committee Chair, he’s a CFA and has significant investment experience. He used to run a private investment company, so he brings that capital markets/investment side to the table.”

“We also recently added Geoff Cotton, a US-based commercial and medical affairs pharmaceutical expert. He is an MD by training, has worked in medical affairs, and he’s also launched products in the US and has run various US businesses, at one point for Gilead, that range up to about $8-9bn USD in sales.”

acerus-pharmaceuticals-tsx-asp-otcqb-aspcf-president-ceo-ed-gudaitis-in-executive-america
Acerus’ patent strategy presents a unique opportunity for success for the company and potential investors

Block and tackle

With this mix of long-standing team members and new faces, Mr Gudaitis is confident that the team has the relevant experience and skills to make the business a success with Natesto, which he identifies as the company’s short-term goal.

“I usually describe our strategy in three phases – phase one is the here and now phase, and really the goal is to get Natesto moving and get it commercialized successfully in the US. That’s the core platform for the company, that’s the foundation for the business, and we will build the company around that success, and that’s really what we’re focused on right now.”

The second phase is to leverage the commercial infrastructure the company has built in the US by adding more products to its portfolio through business development opportunities that will complement and leverage the investment already made.

“The third phase of the growth strategy for us would be to circle back to our pipeline and bring in some additional products, whether they are something that we can build into the nasal gel technology, or even something that complements our focus on urology and endocrinology from an R&D perspective.”

The end goal is to have a growing and maturing business with Natesto that becomes the engine of the company, with a couple of complimentary assets added around the product in order to leverage the commercial infrastructure and investment, and then something in the pipeline to give the company continuity into the future.

“So that we have a late-stage mature product, we have a growth product, and we have some new products,” Mr Gudaitis says. “That would be the ultimate goal in what we’re trying to achieve in terms of the short, medium and long-term to build a sustainable, value-driving company for investors.”

Over his 25 years in the business, Mr Gudaitis believes he has learned some important lessons, many of which came during his time working at Gilead Sciences, a company that was run on the premise of being lean, hands-on and focused on outcomes.

“For a small company like Acerus, I look through that lens every day. We have undergone some significant reorganization and streamlining of the operations. The biggest lessons for me have been – focus on what you can control, keep the business lean, and keep focused on the result and the outcome. That’s one of my key takeaways from my Gilead experience.”

Another key lesson learned has been to embrace good old fashioned blocking and tackling, a strategy that the management and board are well set-up to execute in the case of Natesto to make the business a success.

“If you go in and do the basic executional elements well – build good key opinion leader support, make people aware of the product, have reimbursement in place, have the support systems for physicians and practices to get product to people when they need it, and have patients activated to ask for the product – you will be successful in this category.”

With a full product life cycle in front of it, Acerus’ patent strategy presents a unique opportunity for success for the company and potential investors. Find out more about Acerus Pharmaceuticals Corporation by visiting www.aceruspharma.com.

Openspace Architecture: A window to nature

openspace-architecture-owner-don-gurney-a-window-to-nature-in-The-Executive-America

Based on Vancouver’s North Shore, Openspace Architecture is a boutique architectural and interior design practice specializing in single family and resort residential projects, with a broad range of experience in master planning and infrastructure projects.

A visionary who truly cares for others and deeply respects the land, Openspace Owner Don Gurney produces work that is contemporary in expression, with a deep understanding of the long tradition of architecture and design. Mr Gurney’s hands-on methodology is driven by his great reverence for the relationships between people, nature, and the built environment. The Openspace team strives to elevate the field of Architecture, creating a legacy through design excellence. Mr Gurney speaks to us about his experience of open space planning, the company’s focus on introducing its building system to countries around the world, and the commitment to creating buildings that provide a window to nature.

Open space planning

The practice began life in 1998 as Don Gurney Architects, founded by Mr Gurney alongside current Associate and Senior Technologist Eric Pettit. In 2008 the name of the company was changed to Openspace Architecture.

“That name comes from my planning experience,” Mr Gurney says. “I was with an international planning firm for many years, where we worked on projects internationally, but primarily in the downtown waterfront area [of Vancouver].”

Open space planning became a large component of those mega developments, during which Mr Gurney gained experience working for clients such as Marathon, Concord Pacific and Vancouver Port Authority. Realizing and working with open space planning became very important to him, and that’s how the name originated.

In his current work, Mr Gurney aims to find balance in the relationship between objects and spaces to create an effortless sense of harmony. He approaches projects with both restraint and an eye for detail, using natural materials to harness minimalist expression.

openspace-architecture-owner-don-gurney-in-executive-america
Based on Vancouver’s North Shore, Openspace Architecture is a boutique architectural and interior design practice specializing in single family and resort residential projects, with a broad range of experience in master planning and infrastructure projects

“My whole background has been in the construction industry. I started out very early, from my early teens, working construction. That led to a technical diploma in architectural design and drawing. From that I was a technician for five years with an architectural firm, then in 1983 I decided to go back to university and study architecture at Carleton University.”

Mr Gurney brings a humanist approach to his comprehensive understanding of planning requirements, honoring site context and working hard to enhance the way buildings are experienced, with the ultimate aim of creating harmony between indoors and outdoors.

Local and international projects

The projects Openspace has been involved in over the years have spread across Vancouver, from West Van to North Van and the Olympic training facility. Locally, the practice’s most notable work is in West Vancouver and the Whistler area.

openspace-architecture-owner-don-gurney-in-executive-america
With a commitment to creating buildings that provide a window to nature, and the capabilities to introduce its successful building system around the globe, Openspace Architecture has navigated the coronavirus pandemic successfully

Known across the globe as a world class ski resort, Whistler has seen a lot of work over the last ten years, and it has become established as an all-seasons resort, bringing many more people to the area over the course of a year.

“It’s now for mountain bikers, and everything else from fly fishing to hiking, and everything else that goes along with that resort. As far as our clients are concerned [at Whistler], I would say that probably 95% of them are international clients, from all over the place – the UK, Australia, South Africa and Malaysia.”

In terms of its work in British Columbia, the practice’s footprint is far reaching, having done work on the interior of BC, as well as on Vancouver Island, in Tofino, Saanich Peninsula and Cowichan Lake. 

“Most of the projects we do,” Mr Gurney explains, “with the exception of West Vancouver, are secondary projects or second residential resort type homes. So this has been our primary focus for the last fifteen years.”

openspace-architecture-owner-don-gurney-in-executive-america
Open space planning became a large component of those mega developments, during which Mr Gurney gained experience working for clients such as Marathon, Concord Pacific and Vancouver Port Authority

The company’s history has seen much of its work done in this space, making impressive second homes for high net worth individuals. Recently it has been moving into other architectural areas, such as hotels and restoration.

“We’re doing some restorative work that has been happening in California, most particularly in Sonoma County, where the fires have had a devastating effect on the wineries. We’re rebuilding a winery and a number of support buildings that were devastated by the Kincade fire in 2019.”

In addition to its work in California, the company has been involved in several other projects in the United States, including four successful resort homes at Noi’Ulu Estates, Hualalai, on the Big Island of Hawaii, and ongoing work at another resort in Hawaii building family homes for private clients.

The practice is also beginning a large and an exciting off-the-grid planning and architectural design project for residential homes, which will be located midway between Carmel and Monterey on the California coast.

In addition to local success, the passion for architecture in the company has led to projects in a number of countries, with a focus on taking local experience and adapting to the work and design styles of different cultures. 

“We started out doing simple timber frame homes, and evolved that over the years into doing these lovely projects which are a mix of timber frame and hybrid steel buildings. We’ve developed a nice system, and we want to introduce other countries – such as India, Japan, Mongolia – to these systems, to bring them a new type of housing.”

openspace-architecture-owner-don-gurney-in-executive-america
The company’s history has seen much of its work done in this space, making impressive second homes for high net worth individuals

Creative outlook

Architecture has always been a competitive sector, but in recent years it has seen the rise of new technologies, particularly in terms of highly integrated 3D modelling known as building information modelling (BIM), which have changed the face of the industry.

“[BIM] is taking over much of the industry, but where it hasn’t really reached is the residential market. These homes are every bit as expensive as some of the smaller hospitals and schools, but for some reason the digital information modelling has not got into the market. Given the level of sophistication of these homes, it certainly should be.”

This is an area that Mr Gurney feels Openspace Architecture has an advantage over competitors. With BIM, the company is able to resolve the buildings, relative to the site, in 3D computer modelling with integrated structural, mechanical, electrical and smart home systems, before even beginning construction.

With its focus on a highly creative process, Openspace offers a playful yet rigorous approach to design, bringing projects to life through the pollination of key ideas and a strongly integrated design process.

Openspace offers a playful yet rigorous approach to design, bringing projects to life through the pollination of key ideas and a strongly integrated design process

The open space nature of its designs is integral to the company’s ethos. Buildings with lots of glass, and the large spans created by timber and steel, offer its inhabitants a huge window on nature, like a lens through which to view the natural world.

“It’s quite an experience to live in these homes. When you look at a particular site, whether it’s a mountain site, or a desert site, or a lakefront site, you find the best part of the site, and then put the building on the worst part of the site, so that you can view onto the best part. This is essentially what we mean by open space planning.”

Teamwork is integral to the company’s ongoing success. Clients and consultants are made to feel welcome and appreciated in Openspace’s creative studio, which provides the space for an invaluable exchange of cutting edge ideas and constructive critiques.

The company’s current focus is on taking the technologies it has developed to other countries, sharing with the rest of the world Canada’s excellence in the space. So far the reception in these countries has been very positive.

“Something that we think is important in the work that we do, whether it’s commercial work or residential work, is just keeping people in contact with real materials. We’re using materials like stone, timber, some metals, that once you walk in the building you don’t need a period of adjustment, your body is settled and at one with it.”

Coupled with the need for low energy consumption and sustainable design, the mixture of real materials and a feeling of communion with nature is the nexus of Openspace’s business, creating a blend of mind and spirit that remains critical to its success.

With a commitment to creating buildings that provide a window to nature, and the capabilities to introduce its successful building system around the globe, Openspace Architecture has navigated the coronavirus pandemic successfully. Find out more about Openspace Architecture by visiting www.openspacearchitecture.com.

Kidoodle.TV: Safe streaming for kids

Featured image -kidoodle-tv-cofounder-neil-gruninger-in-executive-america

A family-focused kid’s streaming company, Kidoodle.TV is committed to encouraging safe streaming and viewing habits, hand-picking every show to ensure content is age-appropriate and represents the best in educational, entertaining, and inspiring stories.

Co-founder, President and Chief Product Officer Neil Gruninger co-created Alberta-based streaming service Kidoodle.TV from the ground up. For the past decade, Mr Gruninger has focused on web development, online user experience, and e-marketing, and is keenly passionate about creating better digital experiences for young people. The parental presence, along with the ability to control the experience through monitoring systems and time limitations, have allowed Kidoodle.TV to make a significant impact in 140 countries around the world. Mr Gruninger discusses the inspiration behind Kidoodle.TV’s inception, the global mindset that has aided the company’s growth, and the continuing commitment to providing kids and families with a safe streaming platform.

Safe Streaming™

“Kidoodle.TV was really built upon the thesis of families and video distribution being connected through the internet,” Mr Gruninger says. “I started getting into video distribution as part of a technology corporation that basically built out an algorithm for video distribution. [Kidoodle.TV] co-founder Mike Lowe and I actually met through that process.”

The two co-founders came up with the product after Mr Lowe discovered his youngest son had accessed inappropriate content through other popular streaming services. They realized that there was both a business opportunity and a problem that needed solving.

“Immediately, he and I just decided that this was something that we were going to move forward with, took some employees with us, and ultimately created Kidoodle.TV in 2012, so it’s been almost nine years.”

The process since that moment has been interesting, involving plenty of problem solving in working out the different ways in which families and children can access Kidoodle.TV online, with mobile apps, connected TVs and smart TVs all becoming popular choices.

“The media landscape has shifted at an exponential rate,” Mr Gruninger explains. “We wake up and we have to keep up, every day, and really it’s paved the way for what we’re trying to do to make sure that kids are safe online. We trademarked Safe Streaming™, and it’s our core of what we’ve built and what our mission is online.”

The rise of content services such as YouTube has meant that there is now a proliferation of online content for kids, and this in turn has increased demand, with the internet now becoming the dominant method of content consumption.

“We own all of our technology, we’ve built it in-house. That was one of our main objectives from day one, to own and not lease, because at the end of the day it didn’t give us the agile momentum to shift and be a part of this forever-shifting video space.”

By joining the wave of internet video distribution, Kidoodle.TV has seen some real growth over its almost nine years of existence. The recent COVID-19 pandemic has created even more demand for such content to be readily available.

“Families are home, they need safe entertainment and educational content, so it’s been great to have built this for the last 8-9 years and finally really understand that families and the industry have caught up to what our vision was.”

There are a lot of kids streaming services out there, giving Kidoodle.TV plenty of competition, but Mr Gruninger feels it is differentiated from that competition by the company’s image and core family-focused values.

“Ultimately we built the service from a product of our own needs, and that’s key. You have Amazon, Netflix, YouTube, Disney. These are companies that are paying billions of dollars for content – we don’t have those costs. It allows us to have a wider audience.”

kidoodle-tv-cofounder-neil-gruninger-in-executive-america
“Kidoodle.TV was really built upon the thesis of families and video distribution being connected through the internet”

The variation of content across these bigger names has become key for kids and families. By getting access to top content, focusing on families and championing Safe Streaming™, Kidoodle.TV is able to positively differentiate from other platforms. The rise in gaming content has definitely been a factor in getting top content.

“Gaming content is this crazy new-age, modern day entertainment,” Mr Gruninger says. “It’s become the majority of what kids today are looking for. It’s been great to be a part of that process and understanding that.”

The connectivity of the internet has revolutionized gaming and built upon the industry. Having safe streaming gaming content integrated into Kidoodle.TV has been a huge value add for the company’s customers.

“A lot of times parents are expecting some older, recognizable, traditional content that they may have grown up on, and we have that as well. We have such good industry credibility when it comes to all the content providers who want Kidoodle.TV, because we have millions of families that are currently using our service every day.”

In terms of producing content, the company has started to make its own originals, which has been an extremely fun and creative undertaking, with a focus on what new things it can do in the kids streaming space.

“We’ve been working with YouTube stars that have created an incredible amount of usership and now they can’t monetize their kids content on YouTube. They’re looking for a place to house their content to actually be able to make money with, and we’re that alternative to a lot of these content providers today.”

Built for today

Based in Alberta, Kidoodle.TV has had to adjust to some particular measures to fit into the technology sector in the province, and Mr Gruninger admits that it hasn’t always been the easiest of adjustments.

“It’s been challenging in Alberta over the years,” he explains. “I would say now more than ever we’re seeing some recognition, we’re getting some street cred. That comes from just sticking to our guns and moving forward and building upon the vision of keeping kids safe online. But we had to go outside of Canada to really build the momentum.”

Both co-founders grew up in Alberta, and still have family in the province, but a lot of the financing they needed to make the company viable had to come from elsewhere. It has been a slow process feeling a part of the tech community in the area.

“We’re proud Albertans, and we get what we offer as a whole, and what the community can do for us. We’ve hired now 40 people during COVID, all very passionate about what we’re doing and excited to work with us.”

Ultimately, the tech sector in Alberta is young and growing, and Mr Gruninger admits that the company is more than happy to do what it can to help with that growth and to build upon the technology and media industry to help Alberta as a whole grow and diversify.

kidoodle-tv-cofounder-neil-gruninger-in-executive-america
Having safe streaming gaming content integrated into Kidoodle.TV has been a huge value add for the company’s customers

Although the company is Canadian, it operates in 140 countries across the world, meaning it always has a global mindset. It’s partnership with mass media and entertainment conglomerate Corus Entertainment has helped it reach this point.

“We’re an ad supported video service, so AVOD is the acronym there. Corus is the one that represents our specific inventory here, and they go out and sell our ads. But, the majority of all our usage is in the United States.”

The company has excellent representation in Canada, as its core distribution partners like Roku, Samsung and LG have supported the platform in the country. However, Canada itself is only a small part of the company’s market.

The company’s current focus is on making Kidoodle.TV feature-rich and enhancing the user experience. The technology is really the core focus, making sure that it can offer the very best streaming service.

“We’ve hired a bunch of grandparents to go through all of our content before it gets on the service. A real key focus of ours is growing that employment base and really getting them involved, because they are so key to keeping kids safe online. They watch every single frame of that content before it goes out. So that’s been great.”

The service has been built for today, so in that respect the future is now. There is so much still ahead of the company, including launching on the huge US telecommunications company, Comcast, in the near future.

“Comcast is a big company, and they want Kidoodle.TV, and it’s pretty cool. This has taken years and years, but we’re finally hitting these benchmarks of distribution platforms that just recognize us as one of the top services out there, and they can’t deny the growth and what families are looking for. That’s been very exciting for us.”

The truth is that where the company used to be calling the big distributors, asking to be put onto a platform, the big distributors are now calling Kidoodle.TV because of its reputation and previous success.

“We’ve got Paw Patrol. It’s a big, big brand. We’re one of only a small amount of streaming services that even work with Spin Master, which owns the IP for Paw Patrol. We’re getting some other big brands – in two weeks from now, we have a major launch campaign with the top brand in the world, and that’s what families are looking for.”

The journey has been fun and exciting, and has it has come to the point where the company is outperforming itself every day, with a great trajectory for success, and growing impressively from an employment standpoint.

“Our future is just continuing on and keeping kids safe,” Mr Gruninger concludes, “and making sure that families have an alternative outside of YouTube, because that’s really where they’re finding their content today.”

Operating in a rapidly growing market, and differentiating itself from the competition with a commitment to offering a safe streaming space for kids, it certainly appears that the future for Kidoodle.TV will be glowing. Find out more about Kidoodle.TV by visiting kidoodle.tv.

Envirosuite (ASX:EVS): A market leader in environmental intelligence

envirosuite-asx-evs-ceo-jason-cooper-in-executive-america

An innovative tech company with roots in science, engineering, and consulting, Envirosuite is a global leader in environmental intelligence, utilising proprietary technology and real-time localised data to help industries grow and communities thrive.

Envirosuite is an ASX-listed company (ASX:EVS) with its origins starting as far back as 1990. The company uses science and technology to deliver software as a service (SaaS) solutions relating to air quality, water quality, noise, and vibration, with a varied list of clients including airports, water, mining and industrial, waste and wastewater. Jason Cooper has 20 years’ experience in the technology sector, and recently took on the role of CEO, replacing Peter White. Mr Cooper speaks to us about the value of environmental intelligence, the market-leading outlook he brings to his role, and the huge avenues of growth that offer a significant return on investments now and into the future.

Helping businesses thrive

“Environmental intelligence first started to make the scene a couple of years ago,” Mr Cooper explains. “It’s how you derive insights from environmental parameters that exist. There has been a considerable emphasis put on how businesses and society interact with the environment.”

This has moved beyond a stage of simple data collection and into the realm of analysis and insights, with many companies now turning that information into goals that can be acted upon for the good of the environment, the communities that surround them and their own operations.

“We look at environmental parameters such as noise, vibration, water quality, dust and air quality, and we take those parameters and then we start to understand how that impacts the society or the asset in which the company is operating.”

For example, a mine site needs to operate within vicinity of a community, and by doing that it understands that there are certain environmental parameters that affect how that community lives and how the site can be safely operated.

“As you can imagine, excess dust coming out of a mine site would have a negative impact on communities. Certain conditions in that environmental intelligence will contribute to how that mine site operates. It’s about giving our customers actionable insights based on those parameters.”

Envirosuite’s SaaS solutions assesses factors such as weather, the existing location, and trajectories, in order to provide the mine operator with predictive insights to ascertain when the company should time certain operations and at which part of the mine.

“We have a fairly large spectrum of customers that we are focusing on. Whilst mining is certainly a strong focus for us – we have some of the largest organisations in the world as our customers – we also have a very strong footing within the waste and wastewater communities. These are companies like Veolia and Suez, who are both our customers.”

Within the wastewater industry, Envirosuite generally helps solve odour problems. Odours at treatment plants originate from the receival of waste and as a by-product of the treatment process. Local weather conditions can intensify the impacts of odours and how far they travel, which impacts the community. The company helps those customers detect the specific type of odour and how it is affecting the community.

“We’re also number one globally within commercial airports, doing noise monitoring. When a plane comes into land, certain planes you don’t really hear, but others may come in too fast, too much of a pitch, so there’s excessive noise created. Our customers are from Los Angeles to Beijing to Heathrow, and certainly very strong in Australia.”

The global shift in corporate mindset around environmental issues means companies around the world are now recognising the importance not only of being seen to be doing good, but also actually doing it. Envirosuite’s vision is to allow businesses to thrive in parallel with growing communities.

“For most companies around the world now, it’s about how they can build a growing and profitable business without having a negative impact on the environment that they live in. There are simple, basic fundamentals for our customers. They know and they recognise that there is a long-term engagement.”

envirosuite-asx-evs-ceo-jason-cooper-in-executive-america
Envirosuite (ASX:EVS) offers three products including 1). noise monitoring in commercial airports, 2). dust, water quality, and odour monitoring, and 3). water and wastewater treatment infrastructure

The mine sites Envirosuite works with are situated in mineral-rich locations, where communities are also built. Similarly, some of the company’s customers are ports, which know that the city’s viability depends on ships coming in, to unload containers, and to leave. It’s a part of the city’s economic growth.

The result has been a shift in how these issues are approached. Businesses now come to Envirosuite proactively, with prior knowledge of a problem, and the desire to be able to keep growing and engage with the community. Envirosuite’s solutions help industries to optimise operations, while strengthening their social licence to operate by building trust with communities and satisfying regulators.

“A big part of our solution here is how our technology enables a business to recognise how it’s performing, how they then communicate that to the community, and how the community then feels engaged in jointly solving this problem.”

There have already been several new executive orders signed by US President Joe Biden around these issues, one of which is designed to secure environmental justice and spur economic growth. This is to encourage businesses working in a particular area not to have a negative impact on lower economic societies.

“If you look at the water situation globally, we know that it is a very scarce resource. By 2025, two-thirds of the world’s population will reside in water-stressed areas. There are certain reports that estimate by 2030, around $1.9 trillion needs to be spent to address global water infrastructure. What we’re doing is playing a pivotal role in enabling this transition.”

Market-leading outlook

Having recently taken over as CEO of Envirosuite, Mr Cooper is looking to make positive change. He reminds us that he is first and foremost an engineer, having spent many years working for Siemens. He calls Siemens one of the world’s greatest engineering firms, and says this experience taught him to take pride in market leadership.

“Siemens had a perspective that they wanted to be number one or two in any of the markets they operated in,” he says. “I really am taking that same approach here, which has helped us narrow our focus into the markets that we want to pursue. We want to be one or two in any of the markets we play in.”

Mr Cooper has recently returned from three years immersing himself in the machinations of California’s Silicon Valley, where he worked in high growth companies and gained an understanding of what corporate greatness really looks like.

“We operate now in very much a globalised world, and competition comes from every corner of the planet. You have to have the right strategy; you have to have the right product-market fit; you have to have the right team around you to achieve that. I think it’s having that big global picture about what does breed success – invest into those parts.”

A big part of his focus recently has been on product strategy. The company already has a strong product-market fit, but the aim is to invest further into building world-class software platforms based on scientific fundamentals, which the company has been built on.

envirosuite-asx-evs-ceo-jason-cooper-in-executive-america
An innovative tech company with roots in science, engineering, and consulting, Envirosuite (ASX:EVS) is a global leader in environmental intelligence

“A key part of our challenge is to take incredibly complex scientific models and to distil that into easy-to-understand information. [The key is] to simplify that message into something you can translate, and take meaningful action.”

Customer engagement is a fundamentally important area in building out the company, and Mr Cooper is putting a renewed focus on that. The company already has a strong global reach, but the aim is to build a truly world-class customer acquisition team, as well as closer relationships with customers.

The company currently offers three products; first is noise monitoring in commercial airports; second, the industrial platform focusing on dust and water quality monitoring, as well as odour monitoring; and its new product, EVS Water, helps design, optimise and improve biological, industrial, water and wastewater treatment infrastructure. 

“With our airport product, we’re already number one in that market. What we will see there is continued growth. We are starting to see an increase in air traffic, and that will continue. The world post-COVID will be very different for airports, but a large amount of that will be around that community engagement piece. We do see a strong airport growth.”

There is also some strong new product innovation coming through in the airport market, with continued investment into technology driving deeper into operations within the world’s leading commercial airports.

“Within the industrial platform, we are going to be focusing on mining, and waste and wastewater. We have a strong global footprint here; we have some of the world’s biggest customers. Our focus now is to broaden our penetration for some of these global accounts, to drive greater market adoption. What we’re looking to do now is to build a market, not just chase revenue.”

The final product, EVS water, is very new, having only been brought to market in the last three months. This targets water treatment facilities and other utilities. It combines artificial intelligence and digital twin technology to predict and avoid water quality incidents, while identifying process improvements and cost savings for facilities in real-time.

“This is around providing a return on investment,” Mr Cooper says. “We’ve seen within a short space of time absolute market validation. I see this as a huge growth potential for Envirosuite. We’ve got product-market for it, and we know where we’re going to be accelerating. It’s now just working out what is the best go-to-market strategy to actually get the shareholder return. In the short term, I see growth above 20%, and then beyond that there will be significant upside in the coming years.”

Mr Cooper is a big believer in purpose-driven companies, and in this respect Envirosuite is a great company to get behind. What is most noteworthy is that this is Australian technology being taken across the world.

“To be number one globally, based out of Melbourne, Sydney and Brisbane, is a fantastic example of true R&D, true ideation, and executing on it. We will be growing significantly over the next couple of years. We want to be on people’s radar, so for those people who believe in helping the environment and investing in technology, we’d love for people to come and talk to us about joining us on this journey.”

With a focus on helping businesses do the right things for the right reasons, and continued impressive growth, Envirosuite (ASX:EVS) is certainly one to watch out for in 2021 and beyond. Find out more about Envirosuite by visiting envirosuite.com. 

Bill Identity (ASX:BID): A leading global provider of utility bill management technology

bill-identity-asx-bid-md-managing-director-guy-maine-in-executive-america

Trusted by businesses around the world, Bill Identity’s cloud-based technology leverages Robotic Process Automation, removing the need for human intervention and giving organisations control over their energy spend.

Founded in 2012 and listed on the ASX (ASX:BID), Bill Identity operates across Australia, New Zealand, the United States, the United Kingdom and Europe. The company’s innovative technology serves its clients by improving data visibility, integrity and control. Managing Director Guy Maine has 20 years’ experience in senior executive roles across major Australian companies, and talks to us about the benefits of using Robotic Process Automation, the acquisitions that have helped the company grow, and plans to continue its growth by playing a role in the global automation of utility bills.

The fourth revolution

“The way I explain who we are and what we do is to bring this back to [the consumer],” Mr Maine says. “You would receive an electricity bill for your household, and when that bill arrives you would probably look at the cost, but you then probably don’t do much about that bill until you actually put it in your diary to pay it.”

Bill Identity (ASX:BID) deals with an expanded version of this process, relating to large multi-site enterprises that would expect to receive thousands or tens of thousands of bills that need to be paid every month.

“They wouldn’t have dissimilar practices to [the consumer]. They would receive those bills; they would enter those into their Accounts Payable system. They may check a few of them, make sure that the rate’s right potentially, and then approve them for payment.”

Bill Identity’s job is to manage electricity, gas, water and other commodities for these businesses. It runs the bills through a robotic workforce, digitising the data and exploring every item to make sure it’s correct, following up on any exceptions on the clients’ behalf and even paying bills for some clients.

“RPA, or Robotic Process Automation, is being talked about as the Fourth [Industrial] Revolution. RPA simply takes processes that have previously been done manually, and utilises a robotic workforce to do that same process. We’re talking about code and algorithms being built for us in the Amazon Cloud.”

For example, a certain robotic worker for Bill Identity would be programmed specifically to read every item on a particular bill, told where to find them in order for it to be digitised and put onto the company’s platform for other robotic workers to validate.

“It’s doing something through automation that previously you probably would have got on an Excel spread sheet, or you would have had someone manually entering that data into it’s own Accounts Payable system. So that’s what Robotic Process Automation is.”

bill-identity-asx-bid-md-managing-director-guy-maine-in-executive-america
Bill Identity (ASX:BID) assists in the area of invoice management for companies expecting to receive thousands or tens of thousands of bills needing to be paid monthly

The company is unique in the world for utilising RPA in the niche of utility bills; no competitor in the sector is using robotic workers as a complete end-to-end process to collect, digitise, analyse, validate and pay a bill as Bill Identity does.

“We launched this business in Australia over 5 years ago, and we’ve been prosecuting our strategy here in Australia since then. We have since progressed, and our geographies are under management, so we’ve now been operating in the UK for around 18 months, and more recently in the USA.”

The company sees that it has a role to play in the global automation of the utility bills niche, using its propriety tech to help businesses across the world manage their bill stream more effectively and with deeper and richer data than they have before.

Though keen to grow organically, Bill Identity also recognises the strength of growing through acquisition. This was evidenced in 2020, when it acquired a UK-based management software business call Optima Energy Management.

“What we saw in Optima was a proprietary software platform, the owner had been managing that business for 30 years, built a good reputation up. His software purely managed validation of bills, and it was very good at doing its job, but it didn’t do the remainder of what we do: the collection of bills utilising robotic workers.”

The company recognised Optima’s existing software as something it could replace and upgrade, as well as benefitting from Optima’s expertise and market credibility, which bought with it a number of long-serving, important clients.

“For us, it was an acquisition that gave us scale and market share in a market that we certainly want to grow into and had already started that process. It was an opportunistic acquisition; it had a great database of clients; it was well-considered software; and simply we want to take those clients to the next level in terms of RPA and our platform.”

bill-identity-asx-bid-md-managing-director-guy-maine-in-executive-america
Founded in 2012 and listed on the ASX (ASX:BID), Bill Identity operates across Australia, New Zealand, the United States, the United Kingdom and Europe

When it comes to a tree of development that will further the technologies that Bill Identity deals with, RPA is the beginning of a journey that will move through machine learning on a pathway towards the ultimate goal of Artificial Intelligence.

“You have desktop RPA – which is utilising robotic workers to do simple tasks. Our RPA is more cognitive. We can have robotic workers that determine whether a bill is accurate or not without our intervention. With machine learning you go to the next step. There is an allowance in the code of robotic workers that they can start to see patterns in data.”

As the company signs more and more clients, machine learning would allow it to gain an understanding and analysis of trends, with robotic workers being able to interact with the data in more complex ways.

“You might have one particular main street, where a number of our clients operate from, and our robotic workers will be able to pick up where one particular side is utilising more energy than another in a similar environment. That’s where machine learning can start to help, and it can be utilised to be a benefit to individual clients.”

Progressing down the pathway through machine learning will help the company do more analytics around consumption, goals and net zero targeting, amongst other things, purely based on the robotic workers’ findings.

“We’re a relatively young company,” Mr Maine concludes, “with proprietary Australian technology. We are unique in the world in terms of utilising a robotic platform in the cloud for utility bills. We now operate in over 40 countries. We are expanding globally. Our customer base spend is in excess of $5.8bn in utility spend per annum. We’re very keen on propagating our story in the US specifically this year, and investing behind that opportunity.”

With its Robotic Process Automation technology offering global businesses a service unlike any other in the world, and a pathway towards even greater technologies, Bill Identity (ASX:BID) is forging a path through the fourth industrial revolution. Find out more about Bill Identity by visiting billidentity.com.