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External Partners Alumni Search Submit Return to home Search Search About About Olin Home Why Olin Equity, Diversity & Inclusion Leadership & Strategy News & Media Events Contact Us Programs Programs Home Explore Our Programs BS in Business Administration MBAs Specialized Master's Doctoral Executive Education Dual Degrees Faculty & Research Faculty & Research Home Faculty Directory Research Research Centers Olin Brookings Commission Olin Award Student Resources Student Resources Home Career Services Center for Experiential Learning Entrepreneurship Academic Calendars Student Organizations For Current Students For Military Veterans Admissions Admissions Home Scholarships & Aid Attend Program Events Visit Olin Ask a Student Student Profiles Request Information Refer a Candidate External Partners Alumni Olin launches first episode of season two of On Principle: ‘The $5 million mistake’ January 26, 2022 By WashU Olin Business School 2 minute read Home News Olin launches first episode of season two of On Principle: ‘The $5 million mistake’ This&＃160;first episode of this season of&＃160;On Principle&＃160;is about recognizing when you&＃8217;ve made a mistake and having the guts to face it&＃8212;even if it means flushing millions down the drain. In 2003, Alaina Maci&＃225;, BS &＃8217;98/MBA &＃8217;02, arrived at&＃160;MTM, the St. Louis-based broker of non-emergency medical transportation services, to find a company on the verge of explosive growth. By 2005, she was MTM&＃8217;s CEO, and since that time the company has rocketed from $30 million to nearly $700 million in annual revenue, with clients and customers nationwide. A nagging concern she noticed as she began, however, was the stable but not particularly cutting-edge technology platform the company was built on. Yet she faced a conundrum: How do you overhaul your tech foundation while onboarding clients at a fever pitch? Can you afford to pause growth for the sake of a foundational investment? Is it possible to grow and rebuild simultaneously? Customer demands Increasingly, as the tech world advanced,&＃160;Maci&＃225; saw that customers were demanding a higher level of self-service&＃8212;apps and functionality that offer an &＃8220;Uber-like&＃8221; transportation experience, for example. &＃8220;It&＃8217;s probably been the single biggest challenge I&＃8217;ve faced since I began running the company,&＃8221;&＃160;Maci&＃225; said. &＃8220;This is big dollars for a medium-sized company.&＃8221; Knowing she didn&＃8217;t have the in-house expertise to make this transition,&＃160;Maci&＃225; contracted with an outside firm to work on the tech upgrade with her team. And this is where the pivotal moment occurs. Five million dollars into the project, she realized the work had barely scratched the surface of what MTM was going to need. She decided to scrap the project. Soon after, MTM brought Salesforce aboard to collaborate on the upgrade, but &＃8220;they don&＃8217;t tell you that you have to have a robust team,&＃8221; she said. &＃8220;We launched some projects on Salesforce, but it was clear it would be slow to get where we needed to go and it still didn&＃8217;t do everything we needed.&＃8221; That was another $5 million down the tubes. Progress begins Ultimately, progress began when&＃160;Maci&＃225; engineered the $15 million purchase in August 2017 of Reveal Management Services in Kansas City, effectively bringing in-house the expertise of technologists focused on transportation scheduling algorithms and real-time GPS tracking. Now, she is seeing light at the end of the tunnel and MTM has already implemented a number of technology upgrades&＃8212;including that Uber-like experience. The progress has her looking at adding new service lines such as meal and grocery delivery and other things. Alaina refers to work they&＃8217;ve accomplished with the Reveal technology as MTM&＃8217;s &＃8220;resting platform&＃8221; while they fully overhaul their system, with a hard deadline of Dec. 31, 2022, to complete the transition. &＃8220;It took 20 years to move off the old platform, three years to move to the dot-net platform, and it&＃8217;ll take 18 months to move to the new platform,&＃8221; she said. Listen to &＃8220;The $5 Million Mistake&＃8221; here. About the Author WashU Olin Business School Firmly established at the Gateway to the West, Olin Business School at Washington University in St. Louis stands as the gateway to something far grander in scale. The education we deliver prepares our students to thoughtfully make difficult decisions—the kind that can change the world. Contact Us For assistance in finding faculty experts, please contact Washington University Public Affairs. Monday&＃8211;Friday, 8:30 to 5 p.m. Sara Savat, Senior News Director, Business and Social [email protected] &＃160; Kurt Greenbaum,Communications [email protected] Twitter: WUSTLnews Share article Apply Now Visit Us Request Info One Brookings Drive, St. Louis, MO 63130-4899 [email protected] 314-935-7301 News & Media Events Faculty Directory WashU Center for Career Engagement Washington University home Olin Links Sitemap Privacy Policies Title IX Accessibility ©2024 Washington University in St. Louis