By Marc Hausman, Strategic Communications Group
When word spread through the halls at Herndon, Virginia-based Wireless Matrix (TSX: WRX) that the company’s long-standing Chief Financial Officer was stepping in as acting CEO the staff reaction was swift and steadfast.
The engineering team delivered flowers. The client services team stocked the lunch room refrigerator with her favorite diet soda.
The floral and caffeinated cola reception that welcomed Maria Izurieta to her new executive role was well earned. She had proven her talent, competence and commitment during a 7-1/2 year run as part of the company’s leadership team at a time of dramatic change for the company.
Recruited by the recently departed CEO Rich Carlson, the Wireless Matrix that Izurieta joined in September 2004 bears little resemblance to today’s innovator. At the time, the company was unprofitable with a dated and increasingly irrelevant solution, creating dim prospects for growth.
Under Carlson’s direction, Izurieta helped guide a strategic review of the business that led to the divestiture of a number of assets deemed to fall outside the company’s core.
“We emerged from this initial phase of assessment as a focused and stable satellite data company that served customers in the field service industry,” Izurieta said. “There needed to be a growth play though and the leadership team turned its attention to crafting a go-forward plan.”
The crafting process commenced with an intensive series of customer conversations to identify areas of emerging need. Izurieta explained the executive team agreed to remain focused in Wireless Matrix’s existing market segment, yet sought to develop capabilities in a more exciting and entrepreneurial class of solutions.
That class turned out to http://www.phpaide.com/?langue=en be mobile resource management (MRM).
MRM is defined as a set of solutions that utilize GPS and wireless
One of the.
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There’s a tremendous upside to the space in terms of interest and anticipated spending by corporate customers. This past September, market research firm ARC Advisory Group released a report that projects http://www.phpaide.com/demos/ContactForm/ 35 percent growth during the next five years.
With a strategic vision in hand, Carlson, Izurieta and Wireless Matrix’s executive team now confronted a rather daunting challenge – how to effectively reinvent the business as a MRM software provider. Should they build a product from the ground up or buy?
The company cast its eye on several acquisition targets as a means of fueling its transformation. The most promising target was an afterthought called MobileAria.
“MobileAria’s parent organization was in bankruptcy,” said Izurieta. “This created complexity in the transaction. Yet, the company was our stepping stone into the MRM applications business. They provided us with a proven solution with good functionality, engineering capabilities and a customer base.”
A second acquisition of a company called Sapias brought additional intellectual property and more MRM customers in-house to Wireless Matrix. Like MobileAria, it was somewhat of a distressed property as Sapias’ venture capital backers were intent on an exit.
The past few years at Wireless Matrix have been defined by a new spirit of sales and marketing execution, combined with ongoing investments in product development to enhance the functionality of its MRM solution, now branded FleetOutlook(R).
Each quarter, the company has added new customers, increased its subscriber base, and forged valuable teaming and distribution partnerships. This well outlined growth path paved the way for a CEO transition from Carlson to Izurieta, which was announced in March.
“There is a lot of momentum in our business right now,” explained Izurieta. “With FleetOutlook, we deliver a solution that allows companies with field workers and other assets to improve operational efficiency and achieve key performance metrics.”
The Wireless Matrix value proposition is more than software, she added. “We share best practices and promote thought leadership. This allows our customers to compete effectively in their respective markets.”
Izurieta’s Perspective On:
Serving as an executive at a public entity traded on the Toronto Stock Exchange (TSX).
“The TSX is comprised of many companies that are mining and research focused. It takes work and time for a technology company like Wireless Matrix to garner visibility. Yet, it does afford the stock liquidity and the legal and security regulations are less stringent than the US exchanges.”
