Matium Monday Vol. 7 - Learnings from the Road

On the road with Matium...

During our recent travels across the US, the Matium team embarked on a journey to connect with customers, partners, governmental organizations, and associations. Our primary objective during these trips was one thing: to learn!

We ventured to Colorado to engage with the Center for End Market Development, delving into discussions on Extended Producer Responsibility policies. Exploring the South East, we embarked on a road trip to delve deeper into the operations of our diverse range of customers. From a data company in the materials sector to one of the nation's largest logistics providers and agriculture operations, our interactions were enlightening.

Despite the varying structures and objectives of each company/organization, a common theme emerged:

1. Relationships are the most important thing.

2. The universal recognition of the importance of embracing technology.

3. The impending legislative changes that will impact everyone, emphasizing the need to stay ahead of the curve.

While these concepts may appear straightforward, they hold profound implications that warrant further exploration.

Relationships

In a world dominated by technology, we often overlook the genuine connection that comes from face-to-face conversations. The power of a firm handshake and eye contact should never be underestimated in a world filled with virtual meetings and text messages.

During a recent encounter at the Daytona 500, a heartfelt hug between a partner and an executive from a collaborating company spoke volumes about the strong business relationship they share. Their success is driven not only by revenue growth but by a mutual respect and a desire to enhance each other's lives.

Recognizing that relationships are at the core of every successful business transaction, we have chosen a Network approach over a marketplace approach.

Our goal is to streamline your current connections and make doing business with them effortless. Additionally, we aim to broaden your network and introduce you to new opportunities for fruitful collaborations.

Ultimately, our mission is simple: bring together good people to do great business together!

Technology

"If you had asked me two years ago, I would have said I am fine doing things the way I always have. Today with AI and everything, I know that technology is needed in my business and you have to embrace it or you will lose."

We heard this from an extremely successful yet traditional business owner. It isn't that people want to turn their business over to AI and technology, they simply just want to improve the way they are doing business.

They want to make their people more productive.

They want to have data to make smart decisions.

They want to understand their customers better.

These are all logical and admirable desires. Embracing technology will help businesses grow when approached properly. It is also easy to see when technology isn't explained or implemented properly, it receives pushback from an organization.

The most important thing we heard was getting employees to buy in and use technology correctly or else the investment would never get its full ROI. And we heard some massive investments being made into technology ($50M+ for one company).

At Matium, we do not take a sales approach. Instead we take a success approach. We agree that if a business doesn't fully buy into the technology being implemented or understand it, they will resist it. That then negates the entire exercise of implementing it.

This is why each company on Matium gets a dedicated rep who works hand in hand with your company to make sure everyone is learning and achieving within the platform to best execute your company's vision.

We want to make technology fun for everyone, not overwhelming.

Legislation

A recently published Needs Assessment from the Circular Action Alliance (CAA) determined that Colorado needs additional recycling infrastructure, end-market development, and subsidies from State entities in order to fulfill Extended Producer Responsibility (EPR) legislative efforts.

During our time in Colorado, we engaged with the innovative Circular Colorado team, leading the charge in empowering local businesses to stay ahead of the curve. Their efforts in establishing end markets within the state are paving the way for a circular economy that benefits both manufacturers and recyclers alike.

These assessments will soon become prevalent across the United States and worldwide, aiming to hold product owners accountable not only for the creation of their products but also for how they are utilized and recycled. The focus on end-of-life processes is becoming increasingly important.

Pairing this initiative with the implementation of Post Consumer Resin tax credits, set to take effect nationwide by 2026, will lead to a significant transformation in how businesses operate. For those unfamiliar with PCR tax credits, they essentially act as a financial incentive. Manufacturers face a tax if they do not meet the required threshold of using PCR in their products, while exceeding this threshold earns them a tax credit that offsets potential taxes.

With a renewed emphasis on procurement and recycling at the end of a product's life cycle, the key to optimizing these processes lies in data. Understanding the origins of materials, optimizing sourcing strategies, and fostering an efficient circular economy can not only shield producers from taxes but also enhance their profitability through data-driven decisions.

Matium is uniquely positioned to empower both product manufacturers and recyclers in driving a circular economy by gaining a deeper understanding of their material streams. Furthermore, Matium facilitates connections and relationships among companies within the raw materials supply chain, enabling them to make more informed decisions.

The Bottom Line

Our takeaway from all of this was that the industry needs a few simple things done well in order to thrive.

The industry needs data.

The industry needs investment.

The industry needs relationships.

And what the industry really needs is all three of this things to work in lockstep. If data can forge better relationships which leads to optimized investment in the space, we can drive growth and circularity at the same time.

We believe Matium is positioned to help everyone win together via technology.

500 Miles to end the trip.

We ended our journeys at the Daytona 500 where we got to meet with some great partners and root on our buddy Ross Chastain. Ross was right there at the end and made a big move to try to win the race. Unfortunately, he was wrecked while making the move but he left it all out on the track.

For those who do not know Ross or his story, I implore you to do some research. He is an 8th generation watermelon farmer as well as one of the top drivers in the NASCAR Cup Series. When you talk about innovating the way business is done, the Melon1 business is on the forefront of how agriculture is changing in America and for the better!

The Matium Core Platform

Matium Core is the end-to-end business management tool designed for manufacturers, recyclers, and brokers of raw materials. Core features smart material matchmaking, business intelligence, back office automation including one click document generation and freight, as well as a full integration into QuickBooks Online and Xero.