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The Silicon Review | 30 Fastest Growing Private Companies to Watch 2020

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The Silicon Review | 30 Fastest Growing Private Companies to Watch 2020

  1. 1. Technology Business Features Leadership CIOs L e n S h o r t | F o u n d i n g C h a i r m a n | C E O www.thesiliconreview.com An Interview with Len Short, LotLinx Founding Chairman and CEO: ‘We Help Dealers Address Margin Compression by Predicting the optimal balance of price and promotion to move each VIN most profitably’ 30 Fastest Growing PRIVATE Companies to Watch U.S. Special SR 2020
  2. 2. Eldon James Corporation— Industry Leaders in Manufacturing World-Class PVC-Free Products “We embrace our values to provide customers with exceptional service and products. We are committed to continuously learning, using, and improving strategies to enable global competitiveness.” P olyvinyl Chloride (PVC) is found in a range of products, from children’s toys to building materials to food packaging to medical sectors. World Health Organization describes PVC as the most toxic plastic, and vinyl chloride, the chemical used to make PVC, has been described as a known carcinogen. PVC, because of its high chlorine content, creates toxic pollution in the form of dioxins, which accumulate in animals’ fat up through the food chain. Exposure to PVC often includes exposure to phthalates, which may have serious health effects. Plastics should not compromise our health, safety or environment. Thanks to everyday consumers demanding change, usage of PVC is finally becoming less common. The good news is that PVC can be replaced with safer materials in virtually all cases. It is high time to use clean and safe plastics in medical, beverage, and automotive products. Many industries are coming up with innovative ideas to manufacture PVC-free plastics. Eldon James Corporation is a market leader in manufacturing PVC-free plastics. It is an innovative, world- class manufacturer and global supplier of proprietary and customized connection solutions to a wide variety of industries. Eldon James manufactures a wide range of standard and custom hose fittings, including adapters, couplers, elbows, reducers, and bulkheads. The company started to manufacture extruded plastic tubing, medical- grade tubing and formed tubing in 2007. The firm’s PVC-free tubing and connectors serve a broad spectrum of domestic and international market sectors such as transportation, automotive, medical device, and water purification industries. It is one of the only tubing and connector manufacturers that can manufacture, assemble, and package tubing and fitting assemblies in a single cleanroom environment. The company was founded in 1987 and is headquartered in Denver, Colorado. Marcia Coulson: Interview Highlights What motivated you to establish this company? I enjoy helping customers solve problems and was looking for The Ardent Visionary Behind the Triumph of Eldon James Corporation: Marcia Coulson Marcia Coulson serves as the President of Eldon James Corporation. Coulson has been with Eldon James for 33 years since the company’s founding in 1987. Ms. Coulson is very attentive and knowledgeable about medical product molding and extrusion. She has an extensive background and a vast knowledge of medical products. Ms. Coulson’s commitment to producing/ providing high-quality products is one of the major reasons for her continued success in this field. Marcia Coulson, President
  3. 3. a proprietary product line that we could manufacture and continue to build. A well-defined mission and vision is the secret behind the success of many firms. What is your company’s M&V statement? We embrace our values to provide customers with exceptional service and products. We are committed to continuously learning, using, and improving strategies to enable global competitiveness. We are dedicated to supporting community improvement, education, and environmental stewardship. Can you tell us about your products in brief? How do you ensure quality with such a wide range of products? Eldon James manufactures PVC- free plastic tubing and 6000 types of fittings used to connect tubing including its new SeriesLockTM quick disconnects. Being able to manufacture a proprietary product line allows us to continually optimize and become more efficient. We own our interchangeable tooling allowing us to maintain and create new tooling quickly. How does your PVC-free tubing and connectors serve other industries? We have found that every industry is interested in removing PVC from their product. Our customers who are in beverage and beer have made statements, “Nobody wants their beer to taste like a shower curtain” and “PVC is the weakest link in beverage dispensing”. Hospitals are asking medical device manufacturers to supply products that are PVC-free to minimize the exposure due to endocrine disruption, links to ADHD, cancer, and lower sperm counts due to PVC exposure. What are the factors that you consider before creating a custom fitting? We work closely with customers to consider how many of our interchangeable inserts can be used to minimize their cost and shorten the time it takes to create the tooling. What makes your company stand out from the competition? We work hard to be the supplier our customers enjoy working with. That means we answer our phone without subjecting the customer to an answering system, we have helpful and friendly customer service representatives, we keep parts in stock and ship orders on time and always strive to be their most reliable supplier. How do you market your products? We have created a website that makes it easy for customers to find what they are looking for. We also have distributors that do a great job of promoting and selling our products. Do you have any new services/products ready to be launched? We are excited about our 24 lines of tubing that are available off the shelf for testing. Our new SeriesLockTM quick disconnects— shuts off the flow, features a spring-free flow path, and has a much larger flow path than competitive products. Our sizes range from 1/16” ID to 1” ID, SeriesLockTM is gaining a lot of interest in Pharma, Medical, Beverage, and Automotive markets. Where do you see your company a couple of years from now? We will continue to learn more about the markets we serve and continue to create new products to solve problems. Besides, we continue to be inspired by conversations with our customers that lead to our new products. We work closely with customers to consider how many of our interchangeable inserts can be used to minimize their cost and shorten the time it takes to create the tooling. “ “ 3 SR
  4. 4. “All departments in our company focus on quality customer interactions. This includes sales, service, and finance ensuring the customer’s transaction and installations are seamless.” Y our contact center is an important part of your business. In many cases, customers’ impressions of your business are formed solely based on their interaction with your agents. As a total solution provider, TASKE Technology Inc. Is committed to providing contact center and other business managers with the information they need to enable them to optimize customer interactions, drive operational efficiency, facilitate innovation and curb customer frustration. TASKE solutions are available on premise, or hosted in the cloud, licensed as Perpetual or as a Subscription. TASKE provides companies with the tools they need to ensure their customers receive the superior customer service they deserve. The company-built software automates management activities providing operational control and flexibility at an economical price, enabling everyday businesses to achieve and exceed their service level expectations. Moreover, TASKE offers superior technical support and expert services for all its products – it has an excellent reputation for offering proven, robust, and affordable products The company was founded in 1989 and is headquartered in Ottawa, Ontario. Dennis Johns: Interview Highlights What was the reason behind the genesis of TASKE Technology Inc.? TASKE was created to provide Contact Center real-time and statistical information to operational management. The company’s growth has been driven by the addition of new Contact Center platforms, and the development of new software modules, further extending its capabilities. In our early stage, we focused on one Contact Center platform which created a significant amount of risk. Over the years, we have refocused on several strategic platforms including Avaya and CISCO. How successful was your first project? It was a lengthy offsite project in Green Bay, Wisconsin for an insurance company. With access to a large “live” site, we were able to construct the core product and achieve our first satisfied customer. “Earning trust and respect of consumers all around the world is through consistent focus on delivering high quality in all of our actions.” How do you interpret this statement? All departments in our company focus on quality customer interactions. This includes sales, service, and finance ensuring the customer’s transaction and installations are seamless. On-going customer support and communication enable ongoing satisfaction and trust. “We maintain a focus on our key deliverable which is actionable information for members of the Contact Center team. Although technology and business environments change, the key metrics required to run an efficient Contact Center remain constant.” Architecting High-Caliber Call Center Management Solutions for Day-to-Day Businesses TASKE Technology Inc.
  5. 5. How do you maintain your customers’ trust and loyalty? Our customer retention levels are exceedingly high – this is the result of our proactive approach to customer service. We contact our customers directly on a regular basis to verify their satisfaction, provide updates, and check for additional requirements. We offer a variety of service programs to perform technical Health Checks on customer systems. How do you stay relevant to the consumer interests and needs in this highly volatile market? We maintain a focus on our key deliverable which is actionable information for members of the Contact Center team. Although technology and business environments change, the key metrics required to run an efficient Contact Center remain constant. What is your ability to adapt and adjust according to the market condition? Our management team utilizes a fluid approach to planning. This enables us to react in real-time to changing business conditions and technologies. The most dynamic changes we experience are most commonly upheaval in sales channels and platform market share adjustments. What are the five factors that have been the biggest asset to your organization? • Ability to adapt to technology trends, • Positive Cash Flow, • Sales Channel Development, • Excellent Product Quality, • Effective Marketing. Do you have any new products ready to be launched? TASKE’s next product launch will be a completely new technology to support Contact Center Management for the AWS Connect cloud platform. The initial module will provide sub-second real-time consoles along with the ability to replay any point in time to review operational anomalies. We predict Connect will be a dominant platform in the Enterprise Contact Center cloud market. Where do you see your company a couple of years from now? We expect to transition completely from a Premise- Based Licensing model to a Usage-Based Cloud Subscription model. This will impact all departments of the company and require a significant shift in business processes and product architectures. The Ardent Visionary Behind the Success of TASKE Technology Inc. Dennis Johns Dennis Johns, Founder, serves as the Chief Executive Officer of TASKE Technology Inc. Being inspired by what Amazon has done with its AWS division to take the lead in cloud licensing, Mr. Johns enabled its subscription-based model by rewriting the entire agreement, re-working on the backend CRM, and changing the billing and licensing capabilities. Prior to founding TASKE Technology Inc., he worked as a software developer in Mitel, where he developed several different DOS- based utilities. Mr. Johns holds a bachelor’s degree in Electrical Engineering from McGill University. He also earned a degree in Applied Sciences from Marianopolis College. Dennis Johns Founder & CEO SR
  6. 6. A Tech Savvy Top-Tier Compliance Consulting Services Provider: Compliance Risk Concepts C ompliance demands in the financial services sector are surging and the operational costs associated with hiring and retaining capable in-house assistance is rising in step with those demands. The increasing number and complexity of regulations, constant pressure from shareholders to reduce operating costs, and a continuing shortage of talent are compelling businesses to consider alternative sourcing strategies. Outsourcing compliance functions to a third-party provider or vendor helps organizations address their compliance burdens in a cost-effective manner. CRC is a business-focused team of senior compliance consultants and executives providing top-tier compliance consulting services to clients on an as-needed, project, or part-time basis. The company offers its clients the critical skills and expertise required to establish, maintain, and enhance a balanced and effective compliance operational risk management program. It helps organizations demonstrate a commitment to a robust risk management culture. CRC compliance consultants bring a unique tailored approach to help their clients succeed in today’s challenging regulatory and economic environment by enabling and empowering them to manage the “cost of compliance” without sacrificing the necessary infrastructure and control environment. In a conversation with the CEO, Mitch Avnet Why was the company set up? My prior experience as an in-house Chief Compliance Officer provided ample opportunity to work with many of the top-tier consulting firms. Based on my experience, I found there was a huge gap in the service levels and engagement deliverables promised versus what was ultimately delivered. CRC is not a typical consulting shop. We are a turn-key outsourced compliance department, servicing organizations large and small. We are engaged by our clients because of our deep understanding of the capital “The mission at CRC is to assist our clients in achieving their financial, operational and strategic goals. We do this by developing a clear and thorough understanding of each of our clients’ business models.” David Amster Principal & Head of Fund & Dealer Advisory Jaclyn Bowdren Chief Operating Officer Mitch Avnet Managing Partner & CEO Roland Reyes Principal & Head of Execution Services 6
  7. 7. markets and extensive experience building and supporting compliance programs for broker-dealers and asset management organizations. We don’t employ professional consultants. Our team is comprised of over thirty (30) industry practitioners with an average of 15- 30 years of “in-the-seat” experience. How did you expand your company and its offerings over the years? Over the last several years, we have launched several complementary services focused on the discrete needs of our clients, and the industry in general. This includes, Research Supervision (“SA”), Financial and Operations Principal (“FINOP”), FinTech Compliance, Digital Currency and Crypto Compliance, Investment Banking Independent Due Diligence and Money Services Business / Money Transmitter Licensing compliance support. How successful was your first project? Share the experience. Let’s just say we learned a lot from our first engagement. As new entrants into the space in 2013, we had to quickly figure out where we wanted to play and how we would attack our service delivery model. We quickly pivoted from a project-based business to a retained services model. Approximately 75% of our business is recurring, with the rest of our business being bespoke, project-based work. What kind of mixed responses have you received from your consumers over the years? How have they motivated you to shape your offerings/grow the company? We are a B2B business, providing support to financial services organizations. We serve at the pleasure of our clients and love their feedback – good, bad or indifferent. Our client retention is very high. We work with many emerging organizations and want to be a true partner in their growth and path to success. Our business is predicated upon a genuine understanding of our clients’ businesses and integrating into their respective models. At the end of the day, we are focused on becoming a de facto extension of their teams. If we are viewed as a “vendor” – we’ve failed at our job. What challenges did you face in your initial years? What can your peers learn from it? The initial years were very much a learning experience for us. Creating infrastructure and processes that are sustainable, repeatable and scalable were critical to the success of our business. The first few years were very focused on building the foundation of our company to support future growth, while satisfying the needs of our clients in a consistent and cohesive manner. This was a juggling act. I am very pleased that we took the time, invested appropriately and treated our business as a “marathon” – not a “sprint”. As a question on sustainability, where do you see your company a couple of years from now? As we head into CRC’s 8th year of business, we remain focused on continuing to provide best-in- class service and support to our growing client base. Additionally, we anticipate seeing further consolidation in our space, and will be looking at potential opportunities to increase our footprint across the United States. Meet Mitch Avnet the founder and CEO of Compliance Risk Concepts Prior to launching CRC, Mitch was a member of Corporate Leadership Group (CLG) at Lincoln Financial Group (LFG) where he was Senior Vice President and Chief Ethics and Compliance Officer, having direct oversight of the company’s anti-money laundering, privacy, ethics and compliance risk management programs. Mitch was a member of the Social Media Governance Committee, having direct influence regarding LFG’s overall strategy toward the enablement and usage of Social Media outlets across the LFG footprint. Throughout the course of Mitch’s 25+year career in the financial services industry, he has worked for top-tier investment banks, commercial banks and hedge funds such as Wachovia Capital Markets, PNC Bank and D E Shaw, developing an extensive knowledge of both buy side and sell side businesses, with a deep understanding of Equity and Fixed Income Markets, Derivative Instruments, Structured Products and Variable Products. His broad and successful track record managing the compliance function for a vast array of products and services has made him not only a thorough and seasoned compliance officer, but also a highly effective executive leader, able to recruit and manage the best compliance professionals to meet the needs of his rapidly growing client base. Mitch Avnet, CEO SR
  8. 8. Developing Leading-Edge Technology Solutions to Help Solve Business Problems and Create New Commercial Opportunities: TrnDigital C loud Solutions are perhaps the most constructive technological innovation of the 21st century. It has seen the fastest adoption into the mainstream than any other technology in the domain. It helps businesses take advantage of the economies of scale at a fraction of the cost. Cloud consulting firms can identify gaps that a company has that might prevent smooth integration and suggest cost-effective strategies to fill those gaps. TrnDigital is a start-up founded to develop leading-edge technology solutions to help solve business problems and create new commercial opportunities for its customers. It is a niche company specializing in handpicked areas that delivers top-notch quality through its team of full-stack consultants. TrnDigital offers nimble and flexible solutions that have multiple models of engagement to provide business value at every step. TrnDigital is headquartered in Boston, with offices in New Jersey and Bangalore, India. Shailendra Singh: Interview Highlights Can you brief us about your services? In the era of digital transformation, emerging technologies are integral in helping enterprises navigate through the shift from traditional resource-based models to outcome- based models. That being said, Cloud Solutions have made rapid inroads across all industry verticals. Admittedly, the transformation from on-premise solutions to the cloud from strategizing to seeking a suitable provider is a challenge for most companies. This is where TrnDigital is carving out a niche for itself. Our framework streamlines the cloud migration process for our customers by understanding the core objectives, outlining the overall strategy, and formulating a robust roadmap. What are the emerging challenges in the landscape? Microsoft Office 365 and Azure are robust platforms that allow us to build exciting solutions on top of them. However, as with any cloud service, it is a double-edged sword because while there is a tremendous amount of benefits from being able to leverage it for solutions, we also see that we do not have as much control as we Shailendra Singh, Co-founder “Our main focus is to help our customers to leverage their cloud investments and increase their employee productivity in the best possible way.” 8
  9. 9. would have on-premises. Moreover, given the rapid pace of change from constant upgrades regularly by Microsoft,most companies struggle to optimize cloud solutions to stay ahead of the curve. There could be a certain way of accomplishing a task that is now being set for retirement or in other scenarios, having end- users seeing functionality that their IT is not equipped to support Elucidate how TrnDigital successfully scales client operations and mitigates their problems? We help our clients transition their existing applications and data into cloud seamlessly; by ensuring that we can stay ahead of what is out there and help guide how these changes will affect their usage. We start with understanding the critical business objectives and requirements of the customer and establish KPIs based on industry standards and best practices to drive the solution. At TrnDigital, we ensure that at every point of building the solution, it is progressing as per the parameters defined by our customers. Once objectives are established, we begin the evaluation of a cross- section of the customers to identify the requirements for various departments and the key stakeholders involved based on the functionality they are trying to develop. This enables us to create a detailed plan that resolves current problems and matches the given time frame and budget. With most of our managed services clients, we conduct a monthly executive briefing to capture the list of Microsoft’s recent announcements in the past 30 days. We walk through those changes not only together but also specifically highlight the ones that apply to our clients’ current environment. By doing so, this helps us get ahead of the changes that Microsoft is pushing out. Our main focus is to help our customers to leverage their investment at the same time proportionately increase their employee productivity in the best possible way. Eventually, we do a roll out with the proper information architecture, conduct usability testing, establish a training strategy, and utilize analytics to monitor patterns and detect problems early. At the end of the operation, we collect multiple feedbacks to ensure that the client has made the transition seamlessly and provides them with opportunities to make necessary changes as defined by their constantly evolving business needs. Could you elaborate on the ‘Qbott’ platform and managed services TrnDigital has to offer? As enterprises are trying to leverage digital solutions by innovating and offering engaging user experiences—often, these solutions are early in their maturity life cycle and can present complex challenges. The combination of multiple platforms to provide modern experiences, in turn, amplifies the associated risks with interdependencies. TrnDigital offers a centralized cloud-based platform called Qbott to ensure digital investments are delivering value by analyzing and auditing their key attributes across all channels. Qbott helps users to examine drill- down reports and trends for each digital investment on a single CxO Dashboard, enabling stakeholders at various levels to address critical issues promptly. Users can compare the before & after the behavior of digital solutions after the introduction of new releases, infrastructure upgrades, platform upgrades, and other changes into the environment. From a company’s growth, perspective, we offer also managed services for many clients looking for offshore capabilities. We are experiencing significant growth in the sector, and we have a dedicated team of experts that will help manage office 365 with increased efficiency, scalability as per current and future needs in a cost-effective manner with a controlled subscription-based budget. How would you see the evolution of the company a few years from now about disruptions and transformation within the sector? With new features being released in the cloud at regular intervals, we see opportunities for providing solutions to fill in the gaps. TrnDigital is in the final stages of delivering products that will automate major workflows to further make the entire process as seamless as possible. Migration Manager streamlines and tracks all migration-related communications under one umbrella, offering automation at every step. It automatically 9

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