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Hello welcome to conference room we thought this week with all the focus on the health care exchanges in the computer networks that have given.
Such trouble to the government and sign up of that.
-- we come to a company that sort of has a reputation for doing it right.
One of the most successful IPOs of 20:13 I am in the F customer care area I think of a company called texture -- I've got the principles unaccompanied -- now.
A pat Allen is the CEO and co-founder bill -- corn and other co-founder and a senior vice president and the CFO is Juli she ended.
You do what -- We provide him -- have -- of technologies that help connect the participants on construction project you knit together all of this contractors subcontractors and vendors in the rest.
You build a computer networks so they can all talk to each other.
And do all they need to do -- each other scheduled programs.
Eric invoicing legal documents through risk transfer payment transfer -- that's what we do.
I guess I gotta ask bill how is it did its -- in such a successful IPO.
In such an irony that we've got to focus on a computer network it's -- not working your company news.
Had a tremendous success doing these things Wall Street -- door it endorsed it.
How do you do -- so well it.
Well certainly persistence pays and it's -- and underserved industry from a technology standpoint so there's tremendous opportunity for us coming in.
I got to ask you I mean that this is something that hadn't been out there a lot in the construction industry.
Construction when -- -- booming.
People in construction are too busy to mess with technology right.
Yes some afraid that -- -- -- recession her clients quite a bit it was helpful to us because people needed to get more efficient in our software helps that helps them do that so debt debt you brought that's the thing that you brought chilling was in efficiency to this business.
Particularly in times when things are not booming out there.
When you go to build a computer network though.
This is a pretty thoughtful process how want to take you to do stuff.
Sure I mean texture has been in business for over eight years and it took a lot of investment making sure that we -- building -- computer networks the way they needed and being thoughtful about the participate and send and Dahlia that the participants we need and and how to solve their problems more efficiently.
-- I got to ask you.
Part of what you do and what makes you so valuable on the construction -- -- you're giving very granular information.
To all parties.
If you look at say for example the Obama care.
After a week still unable to say how many people signed up.
How can that happen -- that's very kind of information you specialize in -- -- right.
Right we have just catch phrase -- -- technology delivers one version of the truth.
And we do that by making sure there's one instance of the software -- everybody uses the same technology it's highly configurable.
As -- for everybody and we track every single activity that takes place.
On our platform.
I'm not so sure that quick -- with what's going on with the health -- -- It isn't did the way they went about it.
Just volume I mean you'd obviously don't deal -- much volume as soon as the government health care web sites are dealing with.
Missing out on new for example if you ever had a situation where you underestimated the volume of users -- we're gonna you sure -- -- your networks.
Well at the rate that we're growing and it's always a constant battle through it keep adding to our our platform and and our our infrastructure so that we can handle the number of clients that we.
We have us.
We've had instances where.
You know the technology -- a little bit slower but don't worry we've we've got its servers or whatever to try to speeded up.
But it's all around design -- -- when you're designing an application for.
Hundreds of thousands of users -- you have a different instruction when you're designing something for millions producers.
In your viewers are anyway this shouldn't have been anticipated we got -- people we've within the administration saying hey we put our hands up.
Do people do that to you guys come -- put their hands up and say wait a minute on a -- this right.
Yeah we're constantly looking out to our infrastructure to make sure can really handle that kind of growth we're experiencing.
But you know we.
It's it's inconceivable.
I mean that the population of the United States is known a number of people would be using this technology was known -- urban design creature -- from beginning.
There's nothing is happening here that some improvement -- anticipated.
Bill you got into this industry.
You guys are not.
Builders have -- you know you don't I don't know if yes how right you are now with a hammer and a nail.
You've got into this trying to make of this system this system construction more.
-- sort of make sense to people a little bit better and be more efficient.
You've got tremendous growth.
In this industry yourself people around the world are starting to see the value of this -- Indeed it was startling to find when we first studied this opportunity that there were.
Software firm's focus on construction.
And and hardly any actually building purpose built construction software.
So it was just a tremendous opportunity from the start.
And -- and you.
Also I'm guessing hammer and -- not probably your first.
You know your first.
-- college degree probably didn't come in construction that's -- They give me a sense of your experience.
With us this company has grown tremendously did you think the IPO was going to go -- -- exited by the way.
Sure I mean we're very pleased with the results of the IPO I think the most important thing you mentioned the growth of the business and I would say.
You -- has done a wonderful job making -- that it grows its people right along with that that we can support the growth of the business how many people you've got now and how many don't -- We have about 380 employees -- and we would expect that to grow over 500 within the next year.
And before we get away path to growth overseas.
Where where's your growth -- -- Well we're we're active in Canada met dozens destroying well -- -- it was us and Australia and their large global contractors in that market.
So we expect we'll be able to when we're successful in Australia follow them around the world where they're doing construction.
What percentage of US construction projects now utilize technology.
As opposed the old fashioned way where they wrote things down -- of -- -- on our platform around ten or 11% of our commercial construction in the US and -- current clients fully implemented about 20%.
Sounds like -- the growth potential.
Constructions 13% of the global economy and there were the only ones that are addressing this issue -- -- What everybody here is such a good mood at the yes.
The corporate offices of texture and by the way -- Latin word can be pronounced either tech tour or texture.
However -- -- -- stock is up over a 150% since the IPO earlier this summer.
Thanks for watching conference term -- Jeff.
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