This update was sent by Asseta CEO and Founder Anton Brevde on April 13, 2018.
We fell short of our goal last quarter by 9% due to a lack of equipment transactions. We are still setting up the infrastructure for equipment and expect volatile results in the interim.
The biggest thing holding us back in equipment is data. This includes the obvious items like equipment for sale and equipment needs, as well as what companies specialize in and what equipment companies use at their facilities. This information will allow us to automate the matching process, reducing our need for salespeople and will provide a more efficient service to our customers.
The challenge is the huge number of equipment SKUs used in our industry. Thankfully, there is a large overlap between parts and equipment, so we are not starting from scratch.
This data collection process is similar to what we went through when we got started with parts—we had to reach a critical mass of information before things started taking off. We will need to reach that same critical mass with equipment before we generate more consistent results and growth.
We are leveraging our parts business to speed up the data collection. By reviewing what parts companies request from us, we can deduce what equipment they might be using or specialize in.
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