IoT Leaders
IoT Leaders

Episode 26 · 3 months ago

How IoT is Redefining the Convenience Store Experience

ABOUT THIS EPISODE

Convenience retail is slowly outpacing fuel sales at gas stations. Gasoline is no longer the main draw for customers; instead, they’re looking for a brand experience. Convenience store brands are trying to create a unique customer experience within their stores to attract people who may not even need gasoline.

So, how can IoT transform the journey of the convenience store owner? In this episode, General Manager of Insite360, Rachel Collins explains the change in convenience retail goals, how automation eases the burden on overloaded retail vendors, and why culture is the key to a successful shift.

Join us as we discuss:

  • How the convenience store industry has transformed
  • The pros of remote operations management
  • How IoT fuelled automations are increasing efficiency
  • How to expand offerings without increasing labor 

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You're listening to Iot leaders, a podcast from S I that shares real iot stories from the field about digital transformation, swings and Mrs, Lessons Learned and innovation strategies that work. In each episode you'll hear our conversations with top digitization leaders on how Iot is changing the world for the better. Let iot leaders be your guide to Iot digital transformation and innovation. Let's get into the show. Hello, this is Nicole and in this week's episode we've got a really interesting story for you. What are you going to hear? Is a story from a lady called Rachel Collins. She works for an institution called G B R, Gilbarco Vita Root, which you may not have heard of, but you would have seen because they have, in the U S at least, over market share of the dispenses on garage forecourts, fuel dispenses, tank management. They're also over in Europe and around the world, and it's a story of change management. It's a story of taking a hundred and fifty two year old company and accelerating its transformation to become a company offering business services to petrol station, gas station four court owners, which are now becoming convenience stores with fuel. It's how Iot can enable that transformation of the journey for the convenience store owner, but also for G B R again as this large company with bulletproof market share, but in the world that's changing very, very dramatically, and Rachel tells the story really well and someone who came in from the outside to turn a business around and then has been one of the leaders at Gbr that has driven this strategy. So it really is a nice story of business transformation and IOT making a different in a rapidly changing world around a very established US hardware focus company that you're really going to enjoy this and so, with no further ado, please enjoy the IOT leaders podcast episode with Rachel Commins of G VR. Here we go. Okay, Rachel, welcome to the IOT leaders podcast. Thank you so much. That nice to be here. Thanks for inviting me. Great to have you here. We've got a really interesting story with multiple facets today, but before we get into that, I just sort of wanted to explore a little bit about yourself and your background. Maybe we can just start off with where you're based, what you've done, party history of what what you've done, and then how did you end up in g VR because I think that's a really interesting story. To start off with, absolutely so. I'm based in Houston, Texas. I've actually lived in Houston for the past twenty six years. Came here right out of college, but I've actually been professionally based out of a lot of different places, including Austin, Texas, New York. Um traveled a lot. I've been in enterprise software for over twenty five years. So started my career here. I love deep vertical market software. Spent a lot of time in energy just by way of being here in Houston. I've worked on a lot of high volume transactional systems. So that's really more of my expertise. Back in my twenties I started my own company when I was fearless and had nothing to lose, and really created a business around financial systems, trading systems, developing in Java. SOEUR hands on developer, I mean really have a very technical background. And then leading up to how did I get here to G VR? About a decade ago, ten or fifteen years ago, I was running a company that was acquired by private equity. So unbeknownst to us, we were owned by a German and based parent company that was the besting of their North American...

...assets. And so we were acquired by private equity, an Austin based company, and I proceeded to learn the private equity models, the different operating models, financial models. Stuck within private equity one particular company for about six years and ran about six different acquisitions, and the reason that I loved it is just learning different business models, different delivery models, and so I was really focused on building out the operating playbooks for managed services, full blown SAS, because this particular private equity company had more experience in the licensed on print software and less about cloud based software. So spent time there, you know, building out these playbooks. And back in I guess twenty nineteen, I was approached about a company here in Houston. So the opportunity to get off the road a little bit and run a software company locally, and it happened to roll into a company called Gbr or Bilbarco Beta route, and it was the first software acquisition by the company. It was acquired in and I entered the business in twenty nineteen. It was not performing as expected. I think it was just a very, very different business model and so they were looking for someone from you know, software to come in and make some changes to the financial model and the operating model and, you know, take this underperforming asset to a point that it was growing recurring revenue and to understand the magnitude of sort of that change. Giving a little bit of context on Gbr and I was just looking at wikipedia before we hit the recode button here, and I think you hold the record of the person who works for the company that's been in the business the longest of anyone who's appeared on the Iot leaders podcast, because what I found was GB I was formed in eighteen seventy, so hundred and fifty two years. Not that many companies. Although it wasn't called GB R and I think it became it wasn't long before it was called Gilbarco, after s fumed, but part of Exxon for a hundred years. So there's a lot of history and culture in this company and you joined it to turn around. It's not a software company. I mean it's an automatic tank age management for Petrology, called A US gas station, for courts, the fuel management systems. We're going to get into all of that, but this is not a cutting edge software silicon valley or even Austin Texas software company you found yourself. That's quite a leap into this company. That's right, big change, big challenge. I mean, you know, I never like mapped out my career. I always looked for the spicy meatball kind of challenges and I thought this one had it written all over Um because at the time we were spinning off a new holding company. But to your point, you know, G Dr is a deep rooted industrial manufacturing company, something that I knew nothing about. So not only did I not have any retail patroleum experience, but I didn't have any in dust from manufacturing. So to come in and essentially want to turnaround of a software acquisition within this deep rooted culture, this heritage and really this pride, right, I mean a very, very successful industrial manufacturing organization, I thought it was going to be a big challenge. It has been a big challenge, but it's been a lot of fun and I've learned so much as a result. So now I feel like I know a little bit more about the manufacturing industry and a lot more about just hardware and how to integrate and, you know, use that as a conduit for software and services. So I think it's Um. I've grown as a leader and happy to share more about just the experiences I've had with the culture. They're dramatically different. I would like to go there because I do. Again, we don't. We've not had a story like this on the podcast. And a couple of points up here. In full disclosure for our listeners, no surprise. Gbr and S I were partners gvr US s I offering. So full disclosure there. But secondly, I've talked in previous podcasts about my role in two companies. Actually, you look back out in the Leege in California,...

...and Cisco, based out of Europe, but where I was doing change management, trying to change large organizations, not with anywhere near the type of history that Gbr had, but probably the most relevant one mapping onto what your role is, was Cisco, which was the world's biggest box company, is still more computers boxes than anybody else, and then trying to turn it into a software managed services company and managing software companies within CISCO. The issues were everything was orthogonal. I mean nothing. Nothing was designed for software. Not The thing was designed for recurring revenue opex just the way you think about software and the engineering and the way you do financial systems, and it was a real change management system. And you know we had to do we had to sort of build another culture within a culture. At least I knew the industry, right. I mean I've been Cisco several years before they asked me to do that GIG and I've been in tech for many years. But you came in no knowledge of the oil industry, no knowledge of the hardware side and with a mandate to turn around a CO performing software business, which is their first software acquisition. So you you like a challenge, very high profile, I'll tell you, or a massochist right. I mean one of the yeah, yeah, no, but I mean it was. It's so interesting and I knew. I mean, I think what threw me to it as well as this was a strategic acquisition. This isn't something it wasn't private equity where you know you're trying to find a path to exit. This is a critical part of the strategy of the overall organization and really the future of the company. There's a distinct awareness that the company needs to transform and start moving away from focusing on hardware sales and having the economic value within the equipment there's an understanding that now that's shifting and it's more of the services and solutions that can be delivered through that equipment and that's the future of the business and that's the nub of this story right. So just for those listeners, as and indeed myself, who are not immersed, pardon the punt, in fuel tank management and everything that goes on in the dispenses that dispense the fuel on the forecourt. And we're going to get into the whole retail side of it soon because the world is changing very rapidly, and the EV charges. But before we get into that, you guys have, I understand, like in North America, sixty plus percent market share. So someone could look at this and say, okay, so what was the burning platform? Why was it? Why did they take the risk? Why did they see this as as strategic? What's the problem? You have six market share, there's millions of cars. At the time you were recruited, evy wasn't as anywhere big as big as it is now. So there was a visionary clearly, or there was a strategy around reinvention of this hundred and fifty year old company. I think it was a few things. I mean, number one, when you refer to the market share, that's the installed base of equipment, and so, as you know, equipment businesses being non recurring revenue. You know you start over every year trying to hit these monthly numbers, these quarterly numbers, and so there was a very deliberate focus of our board members in our leadership to say we want to change the mix of revenue. We have about eight twenty non recurring to recurring. Let's try to get that recurring revenue, which is a bit more fluid and predictable, up to let's say, sixty s. So that was a part of it. I think the second thing is just from a regulatory standpoint. If you've heard about E M B, which is what is it? Europay MasterCard visa, but essentially what was happening is, from a regulatory standpoint, the liability was shifting from the credit card companies to the network operators, to site owners when you pay at the pump, and so we saw a big surge in orders of updated dispensers, modern dispensers, but we knew that was going to drop off after that became, you know, the law, and so that had happened actually last year. So we knew there was to drop off in equipment needs and orders. But the third part...

...was just that naturally the business has seen that there's this divergence from fuel and convenience retail. And so you know, fuel is no longer necessarily the draw. It's no longer just your local gas station. You go to get gas and then you walk inside and you might buy a coke. It's actually quite different where people are actually drawn to the experience at the convenience store and less so around fuel. Some people may not fill up their car when they go to a convenience store, and so you're seeing a transformation in that industry and so I think just all of those macro dynamics are some of the reasons that there was this shift in mindset strategically to tap into recurrence and and and being such a big player in the industry. You're order. You've seen exact team. So this coming and, though, we need to prepare for it because it's coming and the model is changing. So let's talk through the steps. Actually, you know what, before we do, I'm going to throw a cap that you're going to apologize for this in Adventth so I've lived in the US, multiple countries, but the US, and was living back in the UK. Now. I don't know whether you know the answer to this or apologies if you don't, but I didn't tell you this question in advance. So in in Europe, in the UK in particular, you don't pay at the pump right. So you don't have the like. When I used to fill my car up in California, I could put the nozzle in and I could press the click and it would stay and I could walk away from the car and then it would click off. Well, we don't have that. You have to keep on squeezing the trigger and although the dispenses have credit card capabilities on them, they're all turned off, or pretty much all turned off. Is there a reason that you're aware of as to why the U S allows you to pay in the pump and in general? Study in the UK, but I think it quite a bit of Europe you you still have to go inside pay for fuel. I think it's just some of its regulatory but they're just dramatically different markets. I mean North America, whether you're talking about just compliance regular Tory conditions or just the footprint of these C stores. It's so different. And then you go to Europe, for instance, where you have very fragmented market. You know, Europe alone has over two countries, and so you're going to have different needs. I think that's a big part of it. What we have seen outside of North America's in North America, people want to pay at the pump. They're still using their credit card, whether it's frictionless and they tap the credit card. In Europe we're seeing a lot more demand from mobile payment solutions. So I just think that, Um, it's a great question. I think it's a combination again, of just consumer demand and also just regulatory regional nuances. Okay, we're just kind of weird over here. Okay, are you're right. I mean, I haven't used physical credit card for over two years because I paid so it wouldn't even if it was there, I wouldn't use it. So that's a good that's a good point. So let's go back to the stages of the of the journey. So you you come in, turn around a software unit which I think is called on site three sixty insight. Yeah, excuse me, inside three sixty and and just at a very high level, I mentioned a T G and managing the fuel levels. But it does a little bit more than that business. So so broadly, what what does the solution do? If I'm a foecre owner, as you call it, a seaside can be a sea store, convenience store owner with fuel on the site. So what does insight three sixty do for me? So, in a nutshell, to keep it simple, we are remote operations management. So when you think about we connect to equipment agnostically, not just what we manufacture, but we connect to an a t g, is essentially the device that monitors your inventory level in those large underground storage tanks of petroleum. So we connect to the A T g. We can help just manage your whole supply chain. We also connect to the pumps, the dispensers above ground and we can monitor the health of the equipment if there's you know, sometimes you'll go to a gas station there's a bag over the pump. We make sure you never have to put a bag over the pump. That we can. We can resolve issues remotely and then in at the store. I mean many people don't know that GBR has...

...over thirty percent market share in North America. A loan the point of sale. So we also have remote capabilities to connect to the point of sale inside the store and remotely monitor that. What's so powerful is we can do things such as send software updates. So if you have a network of hundreds of sites, we can do all of that remotely, Um, and we can the software updates. We can do a warm reboot of a dispenser, so you never have to send a technician on site to do that low value type of work. And we can also manage your fuel supply, so we know if your inventory is running low. We can automate the ordering of let's find the right fuel at the right price, get it delivered at the right time. We can coordinate the delivery from a terminal to a site, and then we also monitor from their environmental compliance. We make sure we can detect any sort of leaks. We can detect fraud and theft, which is huge right now with the prices of yes and over here in Europe. We gotta I was reading the other day like at or more up to in the last month or so whatever, six weeks of people just filling up and drawing off. It's remarkable. Yeah, and then and then just theft getting, you know, a little more sophisticated. Opening up the spenser's. I read the news yesterday. There are trucks rolling over the underground storage tanks and they've carved out the bottom of the van or truck and they're able to then just go and directly steal from his underground storage tanks. So, you know, those been breaking bad. We were, you see, breaking bad when they were after the the ingredient for the drugs and they stopped the train and that's exactly what they okay, yeah, very similar. We could we could make a movie about this, but I mean so that's essentially the nature of the services that we offer. It's really about how can I do all of that remotely and avoid having dispatch a service technician to go on site and conduct that work. So how much of that can I resolve remotely, which is a very common theme on all Iot you spaces. It's it's not about the product, is about the experience. And how do you enhance the experience and automated and then do new things, such as download of new firmware, remote diagnostics, improve the you know, find out what's wrong without having to send a technician out there. And pretty much every use case that we see do that and we again for the listeners the shameless advertising piece of the podcast. We're not only worked together for several years, but we've also helped design with you a lot of this equipment, haven't we, because of our hardware design capabilities so that it's optimized for the use case. But the world is changing. So let's transition a bit. You've already given a little hint of that because you talked about the fact that the c stories. You call it the convenience store, and I know this from again, our listeners will know from their own experience. It used to be you only went to the petrol station or the gas station and you you've got fuel and you paid for the fuel and you maybe you picked up a snack or whatever and just a bar while you're waiting to pay and then you left. But now these stores are they're they're becoming a little supermarkets and there's something, a lot of things, and there's there's other companies in the store. I mean another one of our customer cost their Customer Express Pot of Coca Cola. Now they have these coffee machines that are in the stores and you know, there's a t m s there we've got another customer, Amazon with their lockers. Sometimes you see an Amazon locker on the forecourt. So it seems like there's an overall trend put a lot of other stuff in there. Oh and, by the way, we do fuel as well. So that have I broadly got that right. Is that what's happening? So yeah, I mean I think really it's very intentional for convenience retailers to try to drive foot traffic inside the store because that's the high margin, you know, the dry stock. That's where they are getting their profit. You know the challenge you still have most the stores that have about half of their annual revenue coming from fuel. So it's not going away quickly. I mean you're still seeing electrification and alternative fuels and that will have than time,...

...but it's still a draw to an extent that people still have to fill up their car with gas. But the challenges it's a really competitive and low margin business and so what you're seeing convenience retailers trying to do is figure out, how can I get people to come to the store and fill up their tank but direct them inside, so you'll see a lot of you know, they're putting media at the pomp. We're offering personalization through loyalty and rewards programs on your cell phone. How can you get someone to go inside and buy a soda or buy a bag of chips? Because that's where the profitable business really is, and so that's part of it. But then to your point, then one step further, how do I improve this consumer experience so that when you see this whole retail apocalypse happening and you're seeing foot traffic go down and retail stores they're seeing the opposite and convenience retail, where you're seeing foot traffic go up and people are really, you know, coming because of the convenience, the convenience of the location, but just making sure they have the goods available that people need on a daily basis. So when you say convenience retail, do you mean not just gas station C stores but also independency stores like Seventy Levens or whatever? So is that the trend? They're a bit of retail that's doing well. Is that what you're saying? Yeah, so if you think about the circle KS, the seven Elevens, if you're in North America, depending regionally, you'll get different brands their sheets in Wah Wah. Here in Texas we have it's called Bucky's, where it's a crazy experience. Some of the stores are sixty eight thousand square feet, and so what you're seeing is the market shares increasing for those convenience retailers that are more focused on a personalized consumer experience and you're actually seeing market share reduced with some of the major oil companies that used to be the juggernauts in this space that, you know, every single gas station was branded as a shell or Chevron. You're so kind of seeing that shift and now people are going to a convenience store to go inside the store and not just fill out with fuels. So that's the difference we're seeing, not just in North America, but but globally. Yeah, we are seeing it globally. The petrol stations, as we call them over here, that I drive past on a regular basis, I actually think I see the store brand. Yeah, clearly I see that, the Shell logo or the VP logo because it's up on the high pole and the colors. I recognize the colors on the Gantry, overhead Gantry. But I see, you know, like wait rose, which is a supermarket. I think wait rose or test goes or any kind of thinking. Hold on a second is who owns who here? You know. So there's massive change going on and massive competition. So I think this takes us to the next stage of your story because, having got the the a t g and the you know, the theft and the make sure you don't get the fuel delivered so that you don't have to put the Hood on the on the dispenser just in time, fix the dispenses in advance because you can do stuff remotely, you seem to be pivoting to your next strategy, which is it really helping the C store owner, because there's going they need more things to pull things in because, I think you said earlier, fuels no longer the draw. Now you need to accumulate things. But you don't want all these different experiences, I guess. And everything's going to be Iot. Everything's going to be connected, coffee machines and a T M S and a parcel like Amazon lockers and the dispenses and the cameras and the so suddenly there's all this technology coming in which arguably has the potential to make things even more complicated because everything's coming from a different vendor, which I guess is an opportunity for you right. Yes, I mean it's it's very complex and we can talk about the complexity of retro fitting a site. But I think if you zoom out, what we're trying to do is we see that most of our customers they're trying to shift their investment from outside the store to inside the store. They want to invest in a personalized consumer experience, and so the opersority for us is how can...

...we make the operations so seamless, so automated that then that allows them to invest less in fuel equipment and more inside the store and creating that personalized experience, and so that's what we've been focusing on, is you know, and then we also want to earn the right to be closer to the consumer. But we recognize that we're seeing first and foremost as an industrial manufacturing of fueling equipment. So let's start outside the store. Let's make sure that we can just automate all the operations around monitoring the inventory levels, automate everything around the four court and the dispensers, and then we earn the right to go inside the store and help our customers with those personalized experiences. But what we're seeing from customers is hey, I don't want to buy more a T G S, I don't want to buy more dispensers. What I'd like to do is really create inside the store this amazing experience. And so we're focused on operational efficiencies first and foremost. So that's really, you know, the first step of the strategy. But I think to your point you mentioned, there are a lot of different things inside the store to like a you know, coffee machine, beverage machines. On average, our customers say that out of site they have anywhere from forty to eight devices that they'd like to get connected. Much more than a yes, much more than an a t g and the different dispensers and the point of sale, but they have refrigeration, they have coffee and beverage machines. There's a lot to get annected. Forty, two, eight, depending on the size of the site and how sophisticated the retailer is and so and that's mostly in North America. But we know that we're not going to get everything connected, but we feel like let's do our part. We should at least get the things connected that we manufacture, that we know how to get connected. So that's the A T G, that's the dispenser and that's the point of sale and that really covers a large portion of the critical operations out of site. So that's where we've been focused. So it seems to me that, again, if idy was what we call over here, petrol station owner or Folle coute, one of these site owners, or sea stories you called it, you're actually becoming more of a business partner for me because you're helping me make this transition in the world that's changing really, really well. And I guess is there an age any sort of age split here, because you know, I'm old enough to say, Oh, I'm just going to go to the BB at the top of the road because I've always gone to the BP at the top of the road, but our daughter, who's in her twenties, or youngest daughter, she's got an electric current. She'd never go to the BB at the top of the road. So is there a generational change coming at these people as well? Absolutely, I'll age myself. My husband and I will still go to the local gas station, whatever is closest, just to fill up, and it's it's highly unlikely most of the time that we even go inside the store. But we have two teenage daughters are eighteen and sixteen, and I mean we're experiencing this real time. They will pass up every shell, every Chevron to get to seven eleven because they have Laredo Tacos, like they are really going for the experience, or they will pass it all up. They'll drive twenty minutes to go to a bucky's because it has one of the largest gas stations in North America, or they want to go get a slurpie and some beaver nuggets or a brisket sandwich. So it is very much a generational difference between boomers and Gen x versus Gen y Gen Z, seeing very different behaviors there. I feel I should make a public service announcement for our European listeners that we might need to translate. You use three phrases there, back to back, and I'm thinking I have no idea what you're talking about. Think what you said was a Buckies beaver nuggets. Faver nuggets are known as a Bucky's, like what the point is? They have food that is unique to that store. They're actually, you know, creating and promoting their own brand, but it's because they have proprietary food and apparel within their store. That's very different than a gas they drive, your kids will drive twenty miles because they're loyal to...

...that. Yeah, it's remarkable. I mean they will wear buckey's t shirts. It would have thought that, you know, when we were growing up, wearing t shirts from a gas station may or may not have been cool. But no, this is like a that this is a generational, you know, craze here that it's been surprising. But yeah, very much different behaviors based on generation. My first job when I was about fifteen or sixteen, I used to, as you would say, pump gas, just doing somebodey, and they knew I worked at the gas station mainly because the diesel was so smelly that it would get on my my t shirts. So when I when out as a student of an evening and I smelled like a petrol station, but no, I wouldn't have never thought of wearing the brand. So you're helping these guys transition, you're helping them connect as many things as possible Um and you're helping them compete with a totally new form of value and particularly on the eels to their next generation of customers. So it's it's yet another example, going back to the beginning of the PODCAST, it's another example of this, as I said, oh now, a hundred and fifty two year old company that's got the vision to keep on reinventing itself and reinvented its value proposition to its customers, which I think is pretty cool. There was a lot of you know, to stay alive for a hundred and fifty two years as a company you've got to have reinvented yourself constantly, and I think a lot of people don't know the story about Gbr. They think it's a well, first of all, they don't know the brand because you don't see it. And if they do know the brand, Oh yeah, that's a carbon fuel. You Know Related Company that does the tank monitoring, and what you're doing is actually creating IOT solutions for small business owners. That's right. and Um, I'M gonna plan to see because I bet that you look next time you go to fill up your car with gas. But before I joined this company and I went to fill up my tank, I never paid attention to the manufacturer, the dispenser. Now it's really an oligopoly there are two primary providers. It's either G Vr, Gilberto Vita route, or our competitor. I look every time. Even my kids say hey, mom, we might need to go to a different gas station. This isn't gvr equipment. So it's interesting that I pay attention to that now. But and also when you do fill up your tank, it's supposed to take you less than three minutes. I have my kids trained now that we time it and if it takes more than three minutes, you know that could be that they need to change their filter south. So it's funny when you join an organization that you've had nothing to do with the industry, how you pay attention to things that you've never had before, things I've always wanted to ask about filling up my cup. So sometimes I fill up my car right put the nozzles in, I pulled the trigger and it goes really fast, you know, click and I'm done. Other Times, sometimes it's slow because there's somebody else the other side of the little island there and I'm thinking, well, we're both sharing the same pump as and sometimes I'm just on my own and it's slow, right, and so is that because you're in the end. I think you just said because they need to change the filter. Is it stuff like that that causes it to go slow flow like we have? Yeah, I mean the lingo is we call that slow flow. We can detect that, so we can actually remotely say, Hey, these dispensers are efficient. You have a site over here that they're not efficient, and it may be as simple as you need to go change your filters. But if you see that it's systemic at the site and every dispenser is slow, then it could be that you have a dirty tank underground that you need to actually manage and clean the tank. So yeah, I mean that's definitely something that we see regularly that we can help our our customers detect, because what it does is it creates a negative experience. If you go to a convenience retail store and you it takes you six seven minutes to fill up and be like man, that place is always slow, let me just go into drive across the street. And so that's all around. How do we help them optimize their operations so that people are more likely to go inside the store and by the higher margin goods?...

So it's all about making everything outside the store seamless, frictionless. How do you make it easy so that then they're more likely to go inside, and I guess not requiring additional Labor, because the last thing these store owners want to do is they want more stuff, more reasons to visit, not just fuel but all these other things. I think one of those other things you called, you said called it was a sloppy. So I don't know what a sloppy is, but my guess is a drink, slurpy. Oh, I don't know what. I've heard of a slurpy. I think a sloppy. Okay, but I guess they don't want to have to then maintain all these things and touch all these things. And that's where IOT comes in, because what you're saying is no, don't touch it, because we not only smart enable it, but we do not just reactive maintenance, so we'll send someone out, but proactive and pre emptive maintenance kind of most people know that. The Tesla Model. You know it's your iphone. You know you it gets regular software updates and one of the things that yes, you get new features, but most of the time it's fixing issues you didn't know you had. So you don't experience the problem in the first place. So by having this sort of IOT fabric or this IOT capability, this aggregation capability, to the site, you're able to let people, I guess, have a lot of you said, I think, for sort of thinking about the forty two eighty work, forty to eighty things that are communicating data, that are creating a differentiated experience, like monitoring the fridges and etcetera, etcetera, without having to have lots of people on site to fix it when stuff goes wrong. So I guess the vision is that the site owner or the manager of the site is really is not only to touch these things, because you're as you're taking care of it for them. You're almost outsourcing the management of all this stuff to you guys, allowing them just to focus on it's important for them, but not managing the miss stuff. Yeah, one of our largest customers and they have franchisees and their statement to us was we want our site operators, our Franchisees, to have to show up and take out the trash and that's it. Everything else for them is seamless, it's automated, we can do things remotely. So that's exactly right. That's the future vision of many of these convenience retailers as let's figure out how we can automate everything because, to your point, they don't want to have to continuously increase the number of people at the site because the complexy or the service offerings are expanding. They want to be able to expand their service offerings but have the same footprint of labor, if you will. That's a great phrase, isn't it? You know, we talked about Costa Coffee. They call the their machine, that the Barista without a beard, because it's the it's a burist and quality coffee, but it's never bid. And then the you know, the future goal is that the side tone is main job is to take out the trash, but it's all about the experience being delivered electronically and capturing the data and whatever. It's a great story. I just want to finish, if we can do a few minutes, and I want to go back, wind back. There'll be some people who a lot of people listening to the saying wow, I've learned a lot. Should I certainly have, about the whole environment where I go fuel my my vehicle and how it's all connected together. And how it works. But there also was that bit of the story right at the beginning, the Change Management Story. And and that's where I said I I've done a couple of roles, one of HP and Mont Cisco Doing Change Management, but I didn't start from where you started from. You know, they were already a technology company, Software Company, at that time. Looking back, what did you do? You know, briefly, what did you do to try and do the change management, because you came in turn around a business. But I guess there's it's as much a culture change as a strategy change. So did you have to high end you people? Did you...

...have to go outside for people? Looking back, what was it that you did? It's a huge culture change. I think that was you know, it's always the people's side that's the most difficult at times. We we didn't go through a dramatic change in our personnel deeper in the organization, but I knew that I needed to Um take a look at the sitting leaders and make sure we had the right mix, but not to move too quickly because your point, it's about change management, not shocking the system right, making sure that we pace ourselves. And so one of the things that I recognized is to be growth oriented SAS business within an industrial manufacturing organization, we've got to have some modern technology skill sets here. So I knew that I had to focus on introducing that within the organization, giving some fresh perspective, but it couldn't be over tilted. It had to be balanced. What I knew is that the industry is very tighten it and you have to build the credibility and know the industry and know the lingo. It's something that I didn't have. So I knew that I needed to balance that industry credibility with the modern, current skill set with regard to technology. But then I also needed, because of this deep root culture and A P N L that's been around for over a hundred fifty years, I also needed to really honor that institutional knowledge, that native genius that we had, and so I was very intentional about trying to balance the leadership that I had a little bit of each of those perspectives so that the organization. Yeah, I found that. So you have to dry change, but you don't want to turn the whole organization against you so that they because they there's more of them than you and they will make sure you don't succeed if they feel that threatened in any way. So it is not tricky balance, but worth it when you when you see the change, there's a pride, right. I mean a lot of the people that I work with have been with the Organization for twenty to thirty years. That doesn't happen anymore. And so I think it's important not to come in and say, Hey, you're doing it all wrong. No, I mean it's it's hey, there's just maybe a different way of looking at it, and so I think it's finding that, you know, the communication style, the leadership style, to question some of the status quo, to introduce some new ideas, but not to come across as condescending or antagonistic. Right, and so that's the balance. Um, you know, we didn't always get it right. I didn't always get it right, but I think that's been the learning here, is how can we become more collaborative, create an awareness and teach the organization about a different model, a different mindset, of different culture, and I'm really proud of the cultural changes that we've made. I think that's if I had my stamp on one thing, it would be culture. Really proud that when I entered the organization, our engagement scores were relatively low. I think it's been an acquisition that it kind of stagnated over five years. I think our engagement scores were in the fifties and within twelve months we were at eighty nine because we just brute forced culture. Hey, we've got to be different. Doesn't mean that we're not honoring our heritage, but we've got to think differently and behave differently, and sometimes it's acting yourself into a new way of thinking. Well, that is a great place to finish and, as I said earlier, we're really proud to be a partner with you on this journey and we know there's a lot of exciting things still to come. But that's a really interesting story. We've not had a podcast like this and I'm really glad we did because to show we talked about coot and often its technology or the individual players within Iot, but we talk about the same time, Iot really is an enabler of business model disruption, and so to hear a story from the inside of how a company can disrupt itself, and a company again that you know that's a hundred and fifty years old. A lot of people work there for a long time. High market shares or why change? But in a market that's changing so rapidly around you is such a great story. So thank you again so much. It's been a lot of fun. This has been a remarkable journey at Gbr. But I also honor that...

...you've invited me to come and thank you. Really glad to help you on you I'm glad to have you on the show and and I will now look at that dispenser. You know, like when you're thinking of buying a car, there's suddenly every car you've seen. So I didn't realize there were so many of those cars out there. I will now look at that dispenser and I'm sure I'll see the G v R. I guarantee you will just right in front of me all of this time. So I'll wrap it up there. And for our listeners, I hope you've enjoyed this. I'm sure you have. You've been listening to the IOT leaders podcast with me and host Niko, CEO of S I, and Rachel Collins of G v R, who really just shared with us such a fabulous story of business transformation in a real world environment, you know, a real spread from where where you started to where they are now and clearly a vision for where they wanted to go in the future, with a big, hairy, audacious goal, which is the role of the site manager is just to take the trash out in the future. So that is a wonderful aspiration to automate everything kind. It's a great iyot story. Sir Rachel, thank you so much. Thank you for being our partner and thank you for being my guest on the IOT leaders podcast. It's been a pleasure. Thanks for tuning in to Iot leaders, a podcast brought to you by S I. Our team delivers innovative Global Iot cellular connectivity solutions that just work, helping our customers deploy differentiated experiences and disrupt their markets. Learn more at S I dot Com. You've been listening to Iot leaders, featuring digitization leadership on the front lines of Iot. Our Vision for this podcast is to be your guide to Iot and digital disruption, helping you to plot the right route to success. We hope today's lessons, stories, strategies and insights have changed your vision Biot. Let us know how we're doing by subscribing, rating, reviewing and recommending us. Thanks for listening. Until next time.

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