Company Success Story: Eagle Technology
Products: Eagle Technology develops enterprise asset management software for use in factories, hospitals, education institutions and other large buildings. Its software fulfills functions including tracking maintenance schedules and the condition of machinery, ensuring systems are functioning properly for the comfort of building occupants, and maximizing energy efficiency. Its multilingual software uses intelligent integration with other digital factory software such as manufacturing execution systems, supply chain software and ERP software to enable the factory of the future to be more efficient, more adaptive and, ultimately, more productive.
Leadership: Harshad Shah, president
Market: Eagle Technology’s software is used by several hundred companies in 34 different countries. More than one-third of its business was outside the U.S. in 2015.
Business Success: The company expects to double its business in 2016. It has already created two new jobs, and plans to add two more in next few months.
Wisconsin Business Environment Benefits: Shah attributes the company’s recent success to the resources available in Wisconsin. In early 2016, Eagle Technology completed the ExporTech™ Program for export readiness and expansion. As a result, the company moved from a reactive to a proactive export strategy—choosing export markets strategically rather than waiting for inquiries and orders to come in from abroad.
After identifying Germany as its most promising export market, Eagle Technology participated in the Wisconsin delegation at the Hannover Messe industrial trade fair in April 2016, purchasing a booth with assistance from the Wisconsin Economic Development Corporation (WEDC) and the U.S. Small Business Administration. As a result of their attendance at the trade show, Eagle Technology has added representation in Germany and is in negotiations with potential distributors for its products in that country. With the help of an International Market Access Grant from WEDC, Eagle Technology has translated its website into seven languages, and is in the process of translating its product documentation into German to support further export growth.
Also in 2016, Eagle Technology completed Scale Up Milwaukee’s Scalerator program, designed to help small companies that have survived the startup phase but nevertheless may benefit from some guidance in taking their businesses to the next level.
“I come from an engineering background, and I’d never been to business school,” says Shah. “The quality of the faculty and instruction with Scalerator was excellent. Based on some of the things I learned in Scalerator, Eagle was able to land the biggest contract in the company’s history.”