30 Most Innovative Companies 2019
There will be a time when businesses can digitally visualize and virtually monitor the location and conditions of products along the supply chain; keeping pharmaceuticals and perishable foods at temperatures that prevent damage or spoilage. This is not a fantasy or mere speculation but an amazing possibility of the growing Internet of Things (IoT).
IoT encourages communication between devices, also famously known as Machine-to-Machine (M2M) communication. Because of this, physical devices can stay connected and share data, to create total transparency, which promotes fewer inefficiencies and greater accountability.
With the massive growth of IoT, GeoTraq wanted to do something different. By thinking outside the box, they came up with a low cost, easy to deploy asset tracking and remote monitoring solution that applies to a wide range of industries and verticals.
GeoTraq Mobile IoT modules are penny-sized, with a plug and play form factor for easy attachment of antenna, battery and desired sensors. Unlike most Internet of Things solutions, GeoTraq modules eliminate the need of designing and building a printed circuit board for mounting; making it quicker, easier, and more cost-effective for businesses to deploy IoT solutions that will create real ROI.
For extensive knowledge about the company we had a talk with the executives: GM and CTO, Pierre Parent, & VP of Marketing, Tiffani Neilson.
Briefly tell us about the company’s vision.
IoT has traditionally been viewed as a very complex technology. Our vision for a simple, smart, connected world led us to create connected IoT modules for asset tracking and remote monitoring that communicate over cellular networks. GeoTraq’s LPWA technology has evolved from transmitting data using GSM networks to LTE-M and NB-IoT networks, which are now considered “Mobile IoT.”
Does your firm see innovation as a single time process or a continuous one?
The Internet of Things is continually evolving with new possibilities, protocols, and products. We see innovation as a continuous process, and our Mobile IoT modules offer over-the-air (OTA) updates to stay current with standards and interoperability.
How much do you value workplace innovation?
Workplace innovation is extremely vital, especially considering we are creating a new way of connecting assets and communicating data globally. We intentionally create an environment that welcomes questions, ideas, and different perspectives that lead to new ways of thinking and problem-solving.
What according to you are the 3 important things required for team effectiveness?
The most important thing for our team to be effective is simplicity. We aim for our products, processes, and messaging to be as simple as possible. Second is communication. Our team is located around the world; however, by communicating consistently and approaching matters as directly as possible, we execute our projects effectively to the beat of the same drum. Lastly, our team is effective due to follow-through, which is the product of excellent leadership. By clearly communicating simple goals, we have become an extremely capable team with the ability to operate seamlessly from around the world.
What is your company’s recent innovation?
Equipped with the latest NB-IoT/LTE-M, low power positioning technology, GeoTraq’s new Mobile IoT modules with global connectivity will deliver highly accurate location information and sensor data. We believe our new Tracker-Modules and Sensor-Modules will be a game changer in the IoT space and other industries. GeoTraq modules are penny-sized and a perfect fit for simple IoT solutions that require a small form factor and long battery life.
What problems in the industry could you turn into an opportunity?
Most IoT solutions are too complex and transmit too much data. We focus on simple IoT solutions that use very small payloads of data. We find that most businesses don’t need big data; they need the right data at the right time. Implementing a simple IoT solution to bring visibility to a few key performance indicators can be just as productive and more cost-effective than implementing complex solutions that require system-wide changes.
How appealing is your company in the current market?
Very appealing. Most trackers that use GPS or GNSS are too bulky and power hungry to meet the needs of challenges that GeoTraq technology solves. Many legacy companies are looking to retrofit their existing infrastructure to keep up with the changing times. For many, it isn’t so much a luxury as a necessity for survival. Many SMEs don’t have the resources to hire expensive new talent or overhaul systems, they need a simple, yet effective solution that can reasonably integrate into their existing business model and budget. Our IoT modules use fewer components, less power, and do not require additional infrastructure, which keeps GeoTraq top of mind for ease of use, affordability, and longevity compared to other IoT solutions.
List your enterprise’s unique products and services in brief.
GeoTraq modules are ultra-small, allowing them to be discreetly and conveniently placed in or on assets of all sizes. Customers can create an IoT device in minutes by easily attaching a battery, antenna, and desired sensors. The self-contained plug and play form factor of the modules eliminates the hassle and cost of designing and building a printed circuit board for mounting. To conserve and optimize battery power, GeoTraq Mobile IoT modules rest in a deep sleep mode 99% of the time, waking only for scheduled or trigger-based events. Designed to potentially achieve a 10+ year lifecycle, GeoTraq modules are engineered to enhance the capabilities of Power Saving Mode (PSM) and Extended Discontinuous Reception (eDRX).
What is your firm’s rule of thumb?
Keep it simple, and less is more.
How do you prep for unexpected situations?
As a startup company, we experience unexpected situations frequently. Our team is comprised of problem-solvers that use logic and think outside the box to achieve goals, even when we must find alternative ways to meet objectives. We have team members on three different continents, and this diversity allows us to navigate the obstacles we encounter effectively.
What are your future ventures if you could share some?
Our immediate goal is to begin selling our products and services in the USA this year. Our business plan takes us outside North America next year where we will be engaging with new ventures, partners, and customer opportunities.
We introduce you to the determined executives
Pierre Parent, GM & CTO
As General Manager and CTO of GeoTraq, Pierre Parent is a wireless industry veteran with three decades of experience. He helps organizations reduce the complexity of taking solutions to market by analyzing critical business processes and prudently deploying technologies that efficiently deliver bottom-line performance. Pierre’s breadth of experience spans product development, sales and business development, project management, and the ability to command engineering projects from concept through manufacturing. Pierre has a history of leadership in technology companies, and the cellular IoT industry, holding roles as diverse as president, vice president, COO and CTO; he has also been recognized for taking companies as large as $100MM, to those as small as start-ups, from concept to deployment. He has what it takes to ensure GeoTraq delivers on its promise of simple, smart, reliable technology that empowers their customers through innovation.
Tiffani Neilson, VP of Marketing
As VP of Marketing, Tiffani Neilson keeps GeoTraq front and center in the public eye by guiding the messaging and positioning for the brand. Honored as a Distinguished Woman of Nevada, she is a published author and former TV host whose work has been syndicated to more than 10 million homes. Tiffani’s passion for delivering excellence is second to none and evident in her skillful ability to transition projects from strategy to seamless execution. Highly experienced in forming partnerships and developing strategic relationships, Tiffani aligns marketing initiatives with business goals to generate interest, demand, and recognition for GeoTraq and its products. Her C-level experience in business, along with her background in product development, event management, PR, and communications help Tiffani position GeoTraq as an industry leader in the IoT space.
“We focus on delivering a meaningful impact to your business through simple IoT, with our easy to use, plug and play, Mobile IoT modules that minimize risk and maximize results.”
“We focus on continuous improvement and innovative thinking that is grounded in our core foundation: low cost, small size, long battery life, and global connectivity.”
Stay up to date with the latest news on GeoTraq and their new cutting-edge technology by visiting www.geotraq.com.