Ken Slaughter, AssetWorks

“We were a little ambivalent about being acquired again. Our previous parent had inadvertently stifled our entrepreneurial spirit and didn’t quite understand the software business. We have a lot more in common with Volaris and they trust us to run the company independently and with everyone’s best interests in mind.”

-Ken Slaughter, AssetWorks

Success Snapshot: AssetWorks Facilities

Success Snapshot: AssetWorks Facilities

Challenges and Goals

The AssetWorks Facilities division, along with its sister divisions of Fleet and Appraisal, were acquired by a government consulting firm. The firm was not practiced in the enterprise software market and simply acquired Assetworks as more of an investment rather than a partnership. Support from the top was limited due to a lack of understanding of the AssetWorks business model. In turn, the parent lacked effective ways to measure the performance of AssetWorks Facilities.

Since direction from the parent company was limited, Assetworks was left to manage their business independently.  As long as AssetWorks continued to drive profit, the parent company was satisfied.

AssetWorks Facilities needed a parent that was willing to help the business grow within the enterprise software market while still investing in the skills and talents of AssetWorks to make that happen. 

The Volaris Difference

In 2008, Volaris acquired the three AssetWorks divisions. Since then, AssetWorks Facilities has experienced three key benefits:

  • Volaris understands that software companies require ongoing investment; technology is constantly evolving and technology companies therefore need to evolve as well. Volaris reinvests revenues generated from the business to support growth process.
  • As active as Volaris is in acquisitions, decision-making is pushed down to the business units. Volaris appreciates the importance of leveraging existing skill expertise and helping management and staff to become invested in the success of the unit.
  • Since Volaris understands the enterprise software market, they have developed methods to measure new improvements in the product, using a common set of metrics. It is clear how the business unit’s performance is measured and what the expectations are.

Feedback since the acquisition has been extremely positive. The AssetWorks Facilities staff feels that Volaris’ expectations are clear and transparent and that performance is measured fairly against those expectations.

“At Volaris, we speak the language of enterprise software. We understand what a technology company needs to be successful and we provide those resources. VC firms and other acquisitions companies are all about driving up the value of their investment so they can offload it. Our strategy is long-term and it helps everyone realize success.” -- Mark Miller, CEO, Volaris Group
The Difference

Before Volaris

  • Previous parent did not have software experience
  • Lack of measurement metrics to gauge performance
  • Constant need to explain strategy and business needs

Goals

  • A parent that understood the enterprise software market
  • Spoke the enterprise software "language"
  • Resources to help the company remain nimble in the market

After Volaris

  • Compensation is tied to clear performance metrics
  • Employees are motivated by this measurement
  • Employee feedback has been overwhelming positive