Exclusive Interview With The CEO: Asure Software, Inc. (ASUR) - Pat Goepel
June 13, 2012 - The Wall Street Transcript has just published Business and Application Software Report offering a timely review of the sector. This Special Report contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. Please find an excerpt below.
Pat Goepel, Chief Executive Officer of Asure Software, Inc., has more than 20 years of experience in the human resource outsourcing industry. Before joining Asure Software, he was President and CEO of Fidelity Investments' HR services division; President and CEO of Advantec; and Executive Vice President at Ceridian Corporation, where he was responsible for sales, marketing, operations and business development in the United States. Mr. Goepel is a frequent industry speaker and serves on the boards of AllOver Media, Inc., and SafeGuard World International. He also serves as the CEO of APPD Investments.
TWST: What is Asure Software?
Mr. Goepel: Asure Software (ASUR) is an Austin, Texas-based workplace-management company. We have two primary products. One is AsureForce, which offers a full suite of time- and labor-management solutions. AsureForce Time is our time and attendance product, and what we do is capture time of an employee, whether it's a migrant worker or a salary worker, and we feed that information into the system, make sure we apply all the wage and hour rules to payroll and time and attendance, so a company can record their time.We also have AsureSpace, our other product line that helps clients optimize workspace resources and facilities. AsureSpace Meeting Manager is our meeting-room scheduling solution that allows companies to keep utilization statistics and get an ROI on their meeting room and meeting space wherever the location may be - across the street or around the world.
TWST: Would you describe the company's better-selling solutions, and give us an update on the latest version of AsureForce Time?
Mr. Goepel: First of all, we've made a concerted effort to deliver innovative technology, and we are focused on the cloud. This enables companies to get up and running quickly on our services. As a result, they achieve a high ROI.And as far as AsureForce Time version 11, our latest time and attendance product, it's really the next generation. It includes Web services and mobile devices, so if you're a client like Sun-Maid and you need to clock in your time in the field, we have the app for you and we can clock your time in and properly record your time for the company. The company benefits because they get an accurate reading, whether it's biometric, via computer or mobile apps for your mobile work force, and they are able to record that time accurately and pay the individuals appropriately.
TWST: How would you describe the overall client and market space?
Mr. Goepel: The market space is huge. The workforce-management and workspace-management space is definitely growing. Cloud adoption, as most people know, is growing and will continue to grow very fast over the next 10 years, so we have a huge market potential.According to IDC, that market potential is around $32 billion, and our plan is to capture as much as we can in cloud solutions. Some studies have suggested 8% to 12% growth, and with that adoption we want to garner as much space as we can.
TWST: Please give us an idea of the competitive landscape. Who do you see as Asure Software's head-to-head competition, and how do you define that competition? What differentiates the company from its peers?
Mr. Goepel: What differentiates Asure in the marketplace is how quickly we can deliver ROI. It's easy-to-use software, it's intuitive and clients don't have to install anything. You can get up and running quickly, and you can get reporting very quickly through all our services.We always see competitors. There are some big competitors in the market space, like a Kronos, which is a billion-dollar company, in its own right. However, very often in the middle market, an area Asure specializes in, we don't see a lot of competitors with the sales model that we have, which is over-the-Web and on the telephone. And we are able to create a unique value proposition that allows companies to achieve high adoption rates with high ROI very quickly, and that's where we carved out a unique space.And then, from a technology perspective, some of the competitors, like Kronos and others, aren't really in the cloud and don't have the Web services to integrate with other solutions. So that's where we think we shine very well.
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