Propel Software is a company that is helping product companies collaborate smarter and move faster to better satisfy their customers and shareholders. Pulse 2.0 interviewed Propel co-founder and chief strategy officer Ray Hein to learn more.
Ray Hein’s Background
Hein is a SaaS veteran with 20+ years of PLM, development and product launch experience in both hardware and enterprise software organizations. And Hein has held multiple executive positions at companies such as Agile Software, Apttus, Vendavo and Centric Software. Hein said:
“My background is deeply rooted in product development and sales, influenced by my family’s background in manufacturing and engineering. My mother, an accomplished mechanical engineer without a formal degree, began her career as a draftsman during World War II. My father, a radar specialist, was instrumental in designing guidance systems used to track the Apollo spacecraft and in jet fighter planes. Their work instilled in me an enduring fascination with the mechanics of how things work and how parts evolve into products.”
“Early in my career, I immersed myself in various roles in product development, product management, and the manufacturing of new products. This hands-on experience fueled my desire to explore management positions within IT, where I worked to automate processes and implement systems to accelerate innovation and manufacturing workflows.”
“Transitioning from a user and operator of IT systems, I took on leadership roles in enterprise software companies. There, I led teams in creating new business applications that encompassed both product development and customer and commercial aspects of business.”
“These diverse experiences culminated in becoming the founder and CEO of Propel Software. I’ve guided the company from its inception to its current stage, where, as the Chief Strategy Officer, I am committed to envisioning the future. My focus is on ensuring that Propel grows to become a market leader in our field, driven by innovative solutions that address real-world customer challenges.”
Formation Of Propel Software
How did the idea for Propel Software come together? Hein shared:
“My journey with Propel really began years ago when I held leadership roles in high-tech product development and enterprise software at companies like Agile Software (acquired by Oracle) and Centric Software (acquired by Dassault Systems), among others.”
“In 2014, I took a year off to contemplate my next move and ponder industry-wide product development challenges, and where I believed I could make a meaningful impact. Though I briefly ventured into consulting, it quickly became clear that I’ve always been an entrepreneur at heart.”
“After returning to my roots in enterprise software, I experienced an “aha” moment when recognizing that areas like product lifecycle management (PLM) and quality management systems (QMS) were still largely confined to on-premise applications. I knew there was a better future for the industry and that a shift towards cloud-based offerings was the answer. That time was early 2015—and the industry felt ripe for innovation.”
“My thesis was that global competition, evolving supply chains, and new ways to launch products across multiple sales channels were exposing a huge void in the market. With a belief in the substantial market opportunity ahead, I assembled a small team to extend the traditional definition of PLM, encompassing the entire value chain – from concept to customer.”
“This vision gave birth to what we now call Product Value Management, or PVM, at Propel. Today, we offer comprehensive solutions that span this entire lifecycle, embodying our initial concept, and fulfilling the ambition I set out with. This journey has been one of discovery, challenge, and ultimately, continuous innovation – and it’s been nothing but rewarding.”
Core Products
What are Propel Software’s core products and features? Hein explained:
“Propel’s PVM SaaS platform enables everyone in the product realization and commercialization processes to work and collaborate together in one system, using a single product thread.”
“In the past, there have been multiple business systems – many of them with manual processes – that include sharing spreadsheets which always seems to fail. This happens when information changes (as it always does) and learnings are lost because records are being managed across disparate silos within the organization.”
“With Propel, everyone can work together across the product lifecycle solving seven core product operation processes, from new product development, supplier management, product quality management, compliance management, product go-to-market, field service enablement, and custom product development. Everyone works together to create new products and iterate more efficiently, reducing time to market, and improving product quality and market adoption by relying on one product record – ensuring collaboration across the business.”
Significant Milestones
What have been some of Propel Software’s most significant milestones? Hein cited:
“Propel’s journey over the past eight years has been marked by several significant milestones, each reflecting our commitment to innovation and growth. They can be summarized by categorizing them into three distinctive areas:
1.) Customer Success: At the heart of our accomplishments lies the success of our clients. We’ve had the privilege of assisting hundreds of companies, ranging from ambitious startups to established enterprises. By providing the tools and guidance to develop new products or build companies from the ground up, we’ve witnessed them flourish, go public, or join forces with larger entities. Their innovation and growth stand as a testament to our mission and values.
2.) Industry Recognition: Breaking out as a leading vendor in a mature market category is no small feat, and we take immense pride in the recognition we’ve received. Technology industry analysts, Gartner, Forrester, CIMData, and TechClarity, have all identified Propel as a key vendor to watch. This acknowledgment underscores our commitment to redefine the landscape of enterprise software.
3.) Awards and Honors: Beyond individual and industry success, Propel has earned recognition on many prestigious lists, reflecting our innovative spirit and growth trajectory. Inclusion in Deloitte’s Fast500, Fortune’s Most Innovative Companies in America, and JMP Hot100 are not merely accolades, they symbolize our relentless pursuit of excellence and our contribution to reshaping the technological landscape.
It’s an exciting journey, and we are enthusiastic about the road that lies ahead.”
Customer Success Stories
Upon asking Hein about customer success stories, he replied:
“MSA Safety, a safety equipment provider since 1914, faced challenges managing data across different teams, each using distinct technology. To create a cohesive collaboration between product and commercial teams, they made the decision to transition to the cloud, selecting Salesforce and Propel PLM. Within two months, they shifted from a legacy system to Propel, unifying product and customer records.”
“The benefits were almost immediate and tangible. A customer complaint could be swiftly escalated to a case, or forwarded to engineering for product modifications, all from a single, unified product record. As a result, they realized a 25% increase in revenue and decreased headcount by 20%, and impressively maintained 100% product compliance across five different agencies in which each audited their operations four times annually.”
“MSA Safety is just one among many. Other customers across industries, from high tech, industrial automation, medical devices and consumer goods, mirror similar successes. For a deeper dive into those stories, you can visit our website customer page.”
Differentiation From The Competition
What differentiates Propel Software from its competition? Hein affirmed:
“A single platform solution – We are the only company that has a single platform that spans the whole product lifecycle. Our competitors have multiple products that need to be integrated to attempt to achieve what we do out-of-the box.”
“Built on the Salesforce platform – We leverage all of Salesforce’s market-leading mature, SaaS technologies to build our business applications. That allows us to focus on the business problems our customers have on a proven, and future-proof, technology platform that is highly secure and scalable. This gives us the ability to partner with customers to actively address today’s challenges and plan for tomorrow’s next obstacle.”
“Modern technology availability – We have hundreds of customers using Propel’s modern PVM solutions today while our largest competitors are just getting started on their re-platform journey to modernize their on-premise, legacy applications. Or, they are in the process of acquiring companies to demonstrate that they have cloud-based offerings to boost stock value while they transition over the next few years. Leveraging modern technology we give our customers an unfair advantage to solve their business needs today vs. making promises for the future.”
Future Company Goals
What are some of Propel Software’s future company goals? Hein concluded:
“Propel Software stands at an exciting inflection point, poised at the threshold of what competitors refer to as ‘a new renaissance’ in our industry. We find ourselves drawing parallels with other major market transitions from the past two decades. The first occurred in the customer relationship management (CRM) space when Salesforce put Siebel, the on-premise market leader, in its rearview mirror. The second, was in human resource management (HRM) when cloud-based Workday removed Peoplesoft as the category leader. And, finally in the late 90s when Netsuite became a dominant player in the enterprise resource planning (ERP) and financial category, with its cloud-based solution.”
“Our future goals encompass several key areas:
1.) Continuous Innovation: Propel is outpacing competitors through consistent and impactful innovation. With a commitment to three major releases annually, our goal is to stay ahead of the curve, providing solutions that resonate with today’s ever-evolving market needs.
2.) Advanced Technologies for Customer Success: Staying close to our customers’ needs is paramount, and we will respond to their evolving business models by incorporating advanced technologies like AI – with a laser focus on connecting product and commercialization processes in unprecedented ways. When we deliver unique insights, we set ourselves apart from competitors held back by legacy architectures and disparate systems.
3.) Customer Value: We pride ourselves on being a collective of “PropellerHeads” — a term we affectionately use to describe our team’s passion for propelling customer innovation and business success. As we look to the future, cultivating and nurturing a team that shares this ethos is vital. It’s not merely about growth in numbers but the enrichment of our culture and values.
4.) Our vision is clear, and our determination is steadfast. Propel’s best days are ahead of us, and we are excited about the opportunities and challenges that lie in our path.”
