On September 23, IsoMetrix hosted its inaugural Environmental, Social and Governance (ESG) Conference in Atlanta. The event brought together industry experts to discuss the growing importance of ESG as material risks. For heavy industry, improving safety, reducing environmental impacts and ensuring social licences to operate are not a luxury.
IsoMetrix has enjoyed a long history of working with the mining industry to develop management solutions for ESG. Speaking at the conference, Dennis Marketos, Director and Co-Founder at IsoMetrix shared insights into the exciting road ahead for IsoMetrix as a company and product.
“We’ve come a long way since our humble beginnings back in 2002 when we took a scruffy Microsoft Access database being used as an environmental management tool within a consulting firm and decided to turn it into a commercial product,” he said.
“The software developed from just an environmental management tool to incorporate health, safety and quality as well. In early 2013, we embraced social sustainability as well, and this proved to be a turning point,” explained Dennis. Social risk, and the need to manage it effectively became ever more prominent, both in South Africa and globally.” Developing a social management tool was the gateway for IsoMetrix to enter the North American market. “We partnered with an oil and gas super major to develop a global solution for their management of social risk. Having a company of that stature as our first US-based customer gave us the momentum we needed to break into this market,” he said.
Only just begun
While IsoMetrix has come a long way, Dennis is convinced that the software company’s journey is only just beginning. “We stand today at a crucial inflection point; an exciting juncture in the company’s history.” This excitement, he explained, is driven by the fact that the Carlyle Group has bought a majority interest in the company, and will be injecting additional growth finance to help it maintain its competitive edge.
“We have been self-financed for nearly two decades,” said Dennis. “And we have always excelled at punching above our weight.” The flexible nature of IsoMetrix’s software architecture has allowed the company to provide its customers with highly tailored solutions to fit their specific requirements. “But, the scale of the business has also meant that we have not been able to invest in as many areas of the business as we would have liked, which is the reason we set out to find a suitable investment partner,” he explained.
“Closing the deal with the Carlyle Group coincided with our recognition as leaders in the Verdantix Green Quadrant,” said Dennis. “We are extremely proud of this, but we also know that a lot of work is required on our journey as we continue our trajectory to the top right of the leaders quadrant.”
Every Site is a Reference Site
“Historically, we sold our software through strong referenceability. One of the mantras in our company is ‘Every Site a Reference Site’” explains Dennis. Despite our rapid growth, this remains our top priority: making sure that every user’s experience of IsoMetrix is a rewarding one. As we know from our past success, when we get this right, everything else flows.”
The investment from the Carlyle Group will go into product research and development. “We want to increase our already highly skilled team of core developers for both our web and mobile applications.” The ultimate aim is to enable non-technical individuals to implement IsoMetrix and configure the solution, not only for form input but for imports, integrations, replicators, automation events and dashboards.
“We believe the funding will allow us to continue the growth rates we have experienced and reduce the risk of any inevitable speed wobbles caused by this kind of growth,” said Dennis. “On the back of the impetus provided by Carlyle we will become a more organized, more professional service provider.”
Maintaining good personal relationships has long been the hallmark of the way IsoMetrix does business. “We intend to keep it that way,” said Dennis. “We will continue to recruit team members with a high sense of responsibility and the willingness to do what is required to bring our implementations across the line. Customers will continue to have direct access to our most senior personnel for any escalations.”
As the world turns its focus on ESG matters and as the public continue to insist on cleaner, more sustainable methods from heavy industries, these industries need a technology partner that understand the inherent complexity. IsoMetrix emerged from environmental management and is well equipped to meet the requirements of ESG management for organizations.