Sramana: How did your strategy work when it came to reaching credit unions? Tommy Petrogiannis: We ended up partnering with CUNA which does the technical due diligence for a community of 700 credit unions who do not have the technical resources to do that internally. CUNA will make recommendations for the best suppliers in any
Sramana Mitra: How did you go around that problem? John Sundberg: We took the product and we broke it up into a whole bunch of smaller pieces. That big suite application had a survey application, scheduling application, workflow application, and form generation system. We broke them into smaller pieces so that we could then add in
Sramana: It sounds like the legitimacy of e-signatures for legal purposes really changed the entire direction of the company. Tommy Petrogiannis: That really changed us as a company because we moved from within the walls of an organization to outside the walls of an organization. We gave them the ability to interact with customers without
Sramana Mitra: If I got this right, you were drawn into this Remedy projects and as you were working on these, you saw the opportunity to build framework around the various Remedy problems that you were seeing and be able to productize what you were doing as projects essentially. John Sundberg: I see it a
Sramana: Outside of the DoD contracts, where did you get the remainder of your revenue? Tommy Petrogiannis: It came from industries that were regulated and needed operational efficiencies. This included pharmaceuticals, aerospace manufacturing, and lots of departmental sales for paperwork efficiencies. After the DoD, manufacturing was our next largest vertical followed by aerospace manufacturing. We knew
You have heard me discuss bootstrapping using services quite a lot. Here, we also take on another important key strategy for customer acquisition: content marketing. Sramana Mitra: Let’s start with some background. Where are you from? Where were you born and raised and in what kind of circumstances? John Sundberg: I’m currently in St. Paul,
Sramana: So you really focused on selling to clients who had a workflow or process improvement need? Was any of it regulatory based? Tommy Petrogiannis: Yes. We got very lucky in 1996 when the Joint Chiefs of Staff at the Pentagon ended up buying an enterprise license from us and they standardized on our product.
Sramana: It sounds like you found a niche working on digital signatures to enable paperless workflows well before it became a standardized business practice. Tommy Petrogiannis: A lot of what we developed is commonplace today. In 1994, we were the first company to embed signatures into a PDF document. Adobe did it six years later. Today that