Success Snapshot: AssetWorks Fleet
Challenges and Goals
AssetWorks Fleet is an enterprise software company, whereas their parent company was a consulting firm, focused mainly in the public sector. This implicit difference was problematic from the start, and there was a fundamental lack of alignment between the entities. The parent company did not provide much support to AssetWorks Fleet to help them to flourish and maximize their potential.
Since direction from the parent company was limited, Assetworks Fleet was left to manage its business independently. As long as Assetworks Fleet continued to drive profit, the parent company was satisfied.
AssetWorks Fleet sought a parent that valued and understood the software market and aligned more strategically with their business model.
The Volaris Difference
In 2008, Volaris acquired the three AssetWorks divisions. Since then, Assetworks Fleet has experienced three key benefits:
Volaris’ business model aligns seamlessly with the interests of a software company. They understand how to market, scale and manage enterprise software products. There is a harmony of values and business strategy between Volaris and AssetWorks Fleet.
Volaris has established a bonus pool structure that relates directly to staff performance and leverages the division’s profitability in a meaningful way. AssetWorks Fleet uses this as incentive to attract and retain a talented workforce.
Volaris values staff development and learning. Education and leadership programs are made available to AssetWorks Fleet’s management personnel.
Feedback since the acquisition has been overwhelmingly positive, and not just because of competitive compensation packages. The staff feels as if the Volaris management structure is transparent and there is an authentic sense of appreciation of an employee’s contributions.
“At Volaris, we really pride ourselves on a genuine sense of caring and investment. VC firms tend to only focus on the bottom line; they tend to be less interested in maximizing a company’s impact and growing a business meaningfully. Those things matter to us – and certainly that is the case with AssetWorks.”
-- Mark Miller, CEO, Volaris Group