In this episode, Judith Mackenzie and Rosemary Banyard interview Andy Walters, founder and Chief Executive of Quartix PLC.

Andy explains his shift from selling high-value capital equipment to building a recurring revenue business, leading to the launch of Quartix in 2001. He shares how he identified a gap in the market and developed a browser-based vehicle tracking system.

They discuss the key decisions behind Quartix’s growth, including early technology choices, direct marketing, and international expansion—particularly into France after the 2008 financial crisis. Andy also reflects on the slower progress in the US, the benefits of AIM, and lessons in governance, culture, and founder succession.

The episode closes with his views on using AI in marketing and software, and the importance of controlling costs while investing in effective sales and marketing.

Timestamps:

00:31 Meet Andy Walters

01:06 Early Entrepreneurial Spark

01:50 Career Path to Schlumberger

02:59 Telecoms Work and Market Shift

04:35 Running a Small Company

06:08 Founding Quartix and Big Idea

08:37 Recurring Revenue Strategy

10:43 Bootstrapping to Profitability

11:58 Direct Marketing

14:27 Going International After 2008

16:15 Cracking the US Market

17:23 Why Float on AIM

20:03 Founder Role and Governance

22:30 Quartix Culture

27:02 AIM Advice and Share Price

28:33 AI Impact and Capital Discipline

33:16 What Andy Would Do Faster

34:28 Book Recommendations and Wrap Up

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