Wilmac Executive Interview
Stephen McDonnell, President and CEO, Wilmac
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Sheri Greenhaus, Managing Director of CrmXchange, sat down
with Stephen McDonnell, President and CEO of Wilmac, a leading provider of Communications
Recording and Customer Experience Solutions.
Sheri: Can you tell us how Wilmac got its start?
history is rooted in recording. We began
selling Workforce Optimization solutions (voice and screen recording) in 1992
and have since become a leader in providing mission-critical voice &
digital technology to businesses around the globe. At Enterprise Connect 2023,
we showcased our Continuity Replay product.
We have found that the large vendors in the WFO and CCaaS space
often lock up customer data and make it difficult to transfer that data to
other systems. We convert those audio files and metadata for companies in
industries such as insurance, financial services, and utilities who need to retain
the calls for a certain number of years. These companies can then decommission
their legacy recording solution and utilize Continuity Replay for search and
replay, analysis, transcription or to move their call recordings to another third-party
vendor. We keep them stored in an open format so customers can then utilize the
data as they wish.
Sheri: Does your tool sit in the middle of the systems?
Stephen: In a way, you could look at it like that. Sometimes
customers will just use it for that, and others will utilize our Continuity
Replay UI for the final destination.
Sheri: How long have you had this solution?
Stephen: It was originally built in 2015 as a service for
banks that needed to store their calls for 10+ years. We would manually help
them export voice data out of their recording systems. Eventually, we decided to build a software
solution so that customers could access the data themselves. Initially, we
thought it would only be for the financial world, but more organizations kept
coming to us and requesting access to their call recordings. I would say we got
serious about developing an enterprise solution in 2021. That’s when we brought
development in house and started strategizing how to properly take this to
Sheri: Does Wilmac's strength lie in your ability to take
difficult-to-access data, store, archive, transcribe, and move it to another
Stephen: Yes, I think our value is having the ability and
technology to give our customers access to their data. Specifically, data from
their own customers that can be greatly beneficial if it’s utilized correctly.
We simply give them access to make sense, store, and create value from their
Sheri: What types of companies do you sell to?
Stephen: We focus on highly regulated organizations who are
in the Fortune 2000. These are the types of companies who need to put an
emphasis on being responsible for their data. They are also the types of
companies who want to create value from this type of data. Innovative companies
who are regulated tend to be our targets.
Sheri: You are a reseller for multiple companies. Do other companies
resell your own tool?
Stephen: Yes, we
currently have around ten companies reselling Continuity Replay, and hope to
double that this year. We have a niche solution that enhances these resellers'
value to their customers. Our resellers also have a great opportunity to
enhance their revenue and stickiness with their clients with Continuity Replay.
Sheri: What are your goals for the company?
Stephen: We are a professional services company that now has
a software development arm. We have moved into an aggressive growth stage at
Wilmac. We have high revenue target growth goals. At the same time, we are
doing this organically and boot strapping the growth. We will continue to do so
until we feel it’s necessary to look for outside investment. It’s an exciting
time to be at Wilmac and we look forward to the next few years.
Sheri: Does your tool provide for recurring monthly revenue?
Stephen: We have a few different modules and versions of
Continuity Replay. We have options for monthly or annual subscription models.
Sheri: Are there other companies that provide similar
services to yours?
Stephen: Some of the large WFO vendors have similar services
around their own products. We end up working with them quite a bit when they
need help with their competitors’ recording systems. We believe there are a
couple of companies in EMEA that have the capabilities as well. One key differentiator of ours is that that
we’re vendor agnostic.
Sheri: Who are your best customers?
Stephen: We have a lot of customers who do mergers and
acquisitions (M&A). They tend to be great customers as they have many
different types of recording systems that they want to be able to access all
from one location. Any customer who has any sort of retention policy or wants
to get more value from their voice recordings are great customers for our Continuity