Executive Insight: CEO Glenn Milnes Discusses Business Successes in FY16
Not only did we grow nearly two and a half times in revenue but we also launched four new product platforms in IKE 4, the next generation of Spike, the Smart Measure Pro and the Cloud platform, which represents a high-value offering for our customers while also expanding the markets we can serve as we go into FY17.
If you look at customer successes, you can turn to the signage market. We targeted the signage market a little over a year ago and have already taken home the Innovation Award from the International Sign Association, which is one of the biggest product honors in the industry. We also now have 2,000 to 3,000 vocal and passionate customers who use our tools and software every single day in the signage market to drive both their top line and bottom line.
In the utilities market, Cyient has been an early reference customer that adopted IKE 4, which is delivering to specific parts of Cyient’s business. So we’re delighted to work so positively with a business as prestigious as Cyient, which maintains infrastructure for some of the world’s largest communications groups and utilities.
Lastly, I’m proud of the team we built through the year. In terms of capability, the IKE team gets stronger and stronger. We ended the year in a great position.
In looking forward to FY17, what are ikeGPS’ biggest goals?
For one, we’re now operating in a focused business unit structure with an absolute focus on end users in specific markets. On the utility side, we plan to set the standard for pole-measurement accuracy and focus on integration in order to make IKE 4 data as useful as it can be for our customers. On the new market side, we’re investing in the Spike platform and looking at new vertical markets, such as insurance, to accelerate our growth alongside signage. For the government sector, it’s around putting the capability in place to support some very large enterprise-type opportunities.
Underpinning all of that is our structure, capability and people. On the back of our growth, we’ll continue to work hard to bring on more talented people to complement the team we have now.
Recently, Cyient endorsed IKE 4 for supporting large-scale fiber deployments. What does this mean for IKE 4’s growth potential?
A number of customers have said that IKE 4 is a homerun in terms of not only measuring poles but also in managing and analyzing the data. Cyient manages infrastructure for some significant communications groups and utilities across the U.S., so when you have customers of that size and scale that benefit from IKE 4, it certainly shows that we offer the right product for the market. And we’re not going to stop improving features and functionality, and that’s why the IKE 4 platform is so exciting to build upon.
Since Spike’s first-place finish in the Innovation Awards from the International Sign Association, Spike has received a lot of positive buzz. How has the award translated to new opportunities for Spike?
We’ve been almost overwhelmed with inbound interest from parties seeking to distribute our solution internationally. When we sell to markets outside of the U.S., we focus on getting alongside local resellers, and we’ve been overrun with inquiries for companies to sell Spike into their specific signage market. We’ve closed international distribution agreements in markets such as Spain, Portugal, the U.K., Germany, Norway, Mexico, Brazil and Canada – the list goes on and on.
Secondly, I think it’s made everyone internally feel proud of the value of what we’ve built for these customers. We’ve gone a long way in one year.
If you were a superhero, what would be your power?
I’d have to be Spider Man because my five year old son is dressed as Spider Man day and night. He’d be thrilled if I could throw webs.