This article looks back at the past year for the Techstreet business, and forward to new opportunities to support our customer community in 2021.
2020 – Whew!
2020 was a year like no other, and just as it tested the world, it also tested the Techstreet community. The difficulties of 2020 hit us first as parents, as siblings, as children to elderly parents and then as professionals. The global pandemic consumed our personal time and energy, yet the Techstreet team remained committed to providing exceptional services to you, our customers, throughout. We are exceptionally proud of our service delivery and grateful to every one of our customers for your continued business.
At this stage, everyone in the larger Techstreet community has a personal story to share about the pandemic, and we have all learned to live in a very different world. For me personally, 2020 had its own unique challenges. In addition to adjusting to a work from home environment, my wife and daughter both work in healthcare, and at the start of the pandemic, we decided to socially distance to the tune of 250 miles. This six-week period of separation was emotionally challenging for us all. Ironically, five months later both contracted Covid, and we were again separated but fortunately for a much shorter timeframe. I know this pales in comparison to the many stories that are out there.
The point is that there are many parallels and points of intersection between our personal and professional lives, and this year forced us to navigate those intersections in new and innovative ways. We have all made sacrifices, but I believe we will be stronger together as a society because of it. We still have a long fight in front of us, but by working together we will prevail and be better prepared for future challenges.
There are many parallels and points of intersection between our personal and professional lives, and this year forced us to navigate those intersections in new and innovative ways.
Flexing our muscles
For the fifth consecutive year, we recognized double-digit growth thanks to the continued loyalty of our customers! It wasn’t without a few course corrections, though. Early in the year, we adjusted to focus on curation of standards packages relevant to air quality and sanitation.
The pandemic and consequent shift to remote work for our customers caused some initial business disruption, but as everyone adjusted, things returned to normal since the need for standards compliance remained a constant throughout. The lion’s share of our growth in 2020 was related to the addition of hundreds of new Enterprise subscription customers. We are excited to welcome all of our new customers to the Techstreet community and grow to meet your needs.
Change during a pandemic?
Amongst the turbulence, 2020 also brought change for our group. The largest being the acquisition of Techstreet by The American Society of Mechanical Engineers (ASME) and its Global Knowledge Solutions LLC, a new for-profit subsidiary.
Techstreet has always been a thought leader in the standards industry, but this new partnership creates an even better strategic alignment to the standards world. We’re extremely excited about the support we will get from ASME and know the customer experience will be even better in the years to come.
The show must go on
Numerous standards publishers joined our community in the first part of 2020. A few notable examples are Construction Industry Institute (CII), Precast/Prestressed Concrete Institute (PCI), Plastic Pipe Institute (PPI), Radio Technical Commission for Aeronautics (RTCA), Welding Research Council (WRC), Wiley Publishing and International Air Transport Association (IATA).
Diversification is king
Throughout 2020, we were able to diversify our offerings, allowing us to serve an expanding array of customers across an expanding array of industries. As evidence, our top six new customer accounts for 2020 were from different industries – government, utilities, medical device, engineering, oil & gas and education.
Beam me up, Scotty
In response to customer feedback, our product teams were also busy in 2020 making enhancements to the functionality within Techstreet Enterprise. The user experience is always a main priority to our team, so we continue to look ahead and make investments. This past year, we upgraded our customer internal reporting features and built out more functionality within the document repository. For 2021, we’re planning on upgrading to an online document reader with highlighting and annotating capabilities, plus other features to provide reference linking.
In response to customer feedback, our product teams were also busy in 2020 making enhancements to the functionality within Techstreet Enterprise.
The customer always comes first
With hundreds of thousands of customers come product questions, technical issues and a variety of customer service needs. We worked hard to delight our customers once again and exceeded our 2020 Customer Delight score target. This was no easy task with over 40,000 customer inquiries but over 70% of our inquiries were satisfied on the first call. This was accomplished as we were adding new infrastructure in Australia/New Zealand and launching our new instant chat feature.
Thank you to our customer care team for going above and beyond the call of duty to help all of our customers this year. In 2021 we will work hard to keep each and every customer satisfied through every step of your journey with us.
Our Techstreet Volunteer Network continued to make charity a priority. We participated in local and global outreach events like:
- Supporting Men’s physical and mental health through Movember,
- Pediatric Brain Cancer awareness and research through ChadTough’s virtual 5k,
- School Supply Collection through Community Action Network, which supports under-resourced families),
- the 13th Annual Holiday Family Adoption through Three Families, and
- a non-perishable and canned Food Drive with Hope Clinic supporting medical, dental, food and care to local families in need.
- January – Techstreet finalizes the development and launch of a private label retail store for the Construction Industry Institute (CII).
- March – Techstreet staff works remotely without realizing it will be the last time being together in 2020. Except for our print fulfillment team, all staff quickly adapted to the remote lifestyle and shifted priorities to support the new content needs deriving from the pandemic. Print on demand continued without skipping a beat.
- April – Techstreet agrees to terms with one of the largest utilities company in the world for our second largest partnership in 2020.
- June – Techstreet celebrated our one–year anniversary with Standards Australia. The partnership began in 2019 and consisted of a full reseller relationship and private label retail store.
- August – In the biggest win of the year, Techstreet signs its largest ever government contract.
- October – Techstreet partners with the Welding Research Counsel (WRC) and begins hosting a private label retail store.
- November – Techstreet is acquired by The American Society of Mechanical Engineers (ASME) and its Global Knowledge Solutions LLC, a new for-profit subsidiary.
A look ahead to 2021
I fully expect 2021 to be another eventful year. Hopefully we will pull out of the pandemic and begin adjusting to our new normal. Work life will forever be changed and the lines between home and work forever blurred.
At Techstreet, the team will be working hard to realize the opportunities that come as part of joining ASME, and we look forward to communicating the numerous new product improvements we have planned for the months ahead.
In addition, 2021 marks the year of our 25th anniversary, and we look forward to celebrating that significant milestone with you. We have a lot to be thankful for, and I feel truly blessed to be a part of this great business and great industry.