An Interview with Mike Coffey, DTiQ CEO: ‘We continually engage with your employees and store environment, and Deliver Actionable Insights into Your Operation, Saving You Thousands of Dollars’
“We deliver critical insights to our customers – giving them the key metrics to maximize profit, create a better work environment and improve their customer experience.” Security is imperative for any business; after all, how can you be profitable if you can’t protect your assets? Luckily, video systems are moare intelligent and effective than ever. The best solutions now offer computer-like functions and features, like motion sensors and automatic mobile notifications. Some even let you automatically contact law enforcement instantly if need be. Technological development has also lead to more efficient ways of managing recording and storage, as well. Now business owners have access to immensely powerful solutions that can even drive proactive business improvement at affordable prices.
In light of the above-mentioned scenario, we’re thrilled to present DTiQ.
DTiQ provides intelligent video-based solutions and loss prevention services for the restaurant and retail industries. They combine state-of-the-art equipment with advanced, cloud-based analytics and managed services. They provide data driven insights to their customers via their industry leading Smart Audit™ reports.
The company has moved beyond “static video” to a new way of harnessing intelligent data via video and audio. DTiQ leverages video and audio feeds to monitor things like store safety, temperature, back door and safe door triggers and smart device integration. The company uses its advanced analytics to integrate directly with third-party POS systems and provide insights. Additionally, the company has a services arm that offers forensic investigation, pre-employment screenings, background checks and even an employee tip line.
The DTiQ services team combine all this data to deliver a proactive managed service to the customer. So, the customer receives specific actionable intelligence that can add value to their business.
The company was incorporated in 1998 and is headquartered in Boston. It has additional offices in Las Vegas, Pasadena and Gliwice, Poland. Mike Coffey, DTiQ CEO, spoke exclusively to The Silicon Review. Below is an excerpt.
Rewind: Taking Flight
DTiQ was founded by Sam Naficy two decades ago. The company began to grow quickly, attracting outside investment. After introducing intelligent video solutions, DTiQ expanded beyond the restaurant market, securing customers in the c-store and retail industries.
Recently, the company has expanded through acquisitions in addition to organic growth, which has added significant scale and technological capabilities as well as over 15,000 retail locations. Finally, DTiQ is beginning to build an international footprint, particularly in the EMEA region.
First Project Roll-on: A Terrific Feat
Given that DTiQ has a 20-year history, its early days of the business were actually performing a very different service than it provides today. Like many startups, DTiQ evolved and eventually found a lot of traction with the restaurant group – Subway – in trying to help run its restaurants using video, sensors, and data. The company evolved that as well and now supports over 45,000 live locations across restaurants, retailers, and convenience stores.
DTiQ: ‘Building a Culture of Sustainability’
DTiQ’s products are designed around driving sustainability for its customers. The services it provides help operators run more efficient and healthier businesses with lower levels of waste. The company is simultaneously allowing businesses to maximize financial and environmental sustainability by providing them with better business practices.
“Our product truly establishes a win-win partnership with our customers. By helping them run healthier and more sustainable businesses, we are enabling them to grow and expand their offerings; which in turn leads to new business development for us.”
“As a result, I really see our culture of sustainability as a core of our business that will allow us to continue growing in the coming years.”
DTiQ: ‘Going Above and Beyond’
DTiQ is unquestionably a leader in this industry. In fact, DTiQ’s business offering was the first of its kind and it has consistently rolled out new innovations that have become industry standards. In addition, The company has led the way in establishing industry best practices and values that have helped define standards of service for the entire industry. “We take pride in having gone above and beyond for our customers.”
Factors: ‘That Make DTiQ Stand Out From the Competition’
The people at DTiQ are the greatest asset it has. Unequivocally! “We’re successful because our team is outstanding and works incredibly hard to take care of our customers. The second factor that I would say has been pivotal to our recent growth is our technology. At the end of the day, your business is only as strong as your core product, and we’ve been able to demonstrate that the business intelligence technology we sell delivers a strong ROI for our clients.”
Third, DTiQ has also been able to demonstrate to its customers that the services it offers are the best in the business. “We are able to remove time consuming tasks from our customer. We allow them to focus on their business, while we deliver data-driven insights on specific areas for improvement.”
The fourth asset DTiQ has is its economic moat. “We have a significant market share in the restaurant and retail industries that comes from having done very well by a lot of big brands, and that has made it harder for our competition to break into the market. As we’ve rolled out new products and technology, this competitive advantage has only widened.”
Finally, the fifth asset is DTiQ’s leadership team. “We’ve assembled an executive leadership team with decades of leadership experience and institutional knowledge so that we can successfully deliver value to our customers and help them expand their business.”
DTiQ: ‘We Consistently Deliver Value to Our Customers’
DTiQ has been able to forge a positive relationship with its customers by consistently striving to deliver on its promises to them. “When we occasionally do miss-the-mark, we work hard to make things right as quickly as possible.
I think our reputation benefits from the tight-knit community of the industry we serve. To date, a lot of our business has been referral driven. That business model only works if your reputation is strong.
DTiQ’s reputation is strong because of its products. “We consistently deliver value to our customers. That’s paramount to building a positive reputation in the industry we serve. You can do everything else right, but if your product doesn’t deliver ROI, your reputation will falter.”
Future Arrangements: Sky’s Limit
DTiQ’s space is incredible and it plans to continue to do what it does best, which is “to take great care of our customers”.
Mike Coffey: An Entrepreneur at Heart
Mike Coffey was named CEO of DTiQ in January of 2018. He manages day-to-day operations at the company and develops strategic initiatives to grow the business. Mr. Coffey has extensive experience as a technology executive, having successfully led multiple companies in the IoT, M2M, and SaaS spaces. Mr. Coffey holds a BS in Computer Science from Rensselaer Polytechnic Institute.
“DTiQ combines intelligent video, advanced analytics, and expert services to deliver an unparalleled performance improvement solution to over 45,000 customers in the retail, restaurant, and convenience store industries.”