Wesco Security EVP Bill Geary Speaks
Wesco is one of, along with ADI, the two biggest security products distributors whose growth was fueled by acquiring Anixter in 2020, who previously acquired Tri-Ed in 2014.
Bill Geary runs Wesco's security distribution business, having come over as part of the Anixter deal.
At SNG, Geary spoke about:
- AI / Golden Age of Security
- Losing Sleep
- Wesco's Support for Open Systems
- Balancing Between Industry Experts and Outside Talents
- Wesco Going Through "Strategic Planning"
- Cross-Sell Between Three Business Divisions
- Servicing Data Centers - The Supercycle is About to Hit
- Exciting Products - Those Who Make Things Seamless and Frictionless
- Supply Chain Has A Prominence Among Management Like Never Before
- Offering a Full Package of Solutions
- Continue Investing in Physical Retail Locations
In this note, we examine what he said about these topics and Wesco's view on the future of the industry.
"Golden *** ** ********" - ***** ** ********/************ ** ********** *****
** ** ******** ***, **** *****:
*** ****** *** ***** *** ** the ******** ****** ** *** ******** systems. ** ****** ***** ** ***** in *** ***** ****** ** *** use ***** *** ******* ***** *** and * ***** ** *** ********** center ** ******** **'** ************ **** in **** **'** ****** *** ****** from *** *********. **'** ****** ** full-proof, **'* ******** ***.
** ********** ** *** ******** *** be **** ** ******* **********:
**** **** [**]the ****** *** ** ******** rights as it relates to the camera is not just used for surveillance anymore. Now, it's used *** ********** *******. Now, it's on the assembly line. Now it's used within commercial buildings and in retail and totally different applications that has never been done before. [emphasis added]
******** ****** ********* **** **********:
********** ******* *** ***** ******** *** probably ** ******** ***********. **'** ****** that ** ****** ***** ******* *** following ****** ****** *** ******** ** the ****** ********, *** ****'** ****** if **** ***** ********* *** **** grab ** *** *** ** ****, and **** **** *** ** ****, how **** ****** *** ** ****?
***** ******** **** *** ******* ***** utilizes ** ** ******* *** **** going ****** * ***** **** ** data ******, [***] **** ****** ****[******** owners] ** *********** ***** ***** ** to **** ********* *********.
**** ** ***** ********* *** ********, though ** ******** *** ******** ** most ********* **** *** ** ** more ******** ********.
Lose * *** **** ***** ***
***********, ***** ****:
*lose * *** **** ***** *** than ever before. Consequences last. All the consequences *** *********** if not made correctly, so strategic planning around where you are today, looking around the corner for where it's around the corner for where things are going, and having the leadership that can take you there. [emphasis added]
** *** *** ********* **** ************ was ******* **** *** ****.
Wesco's ******* *** **** *******
***** ****** **** **** *********** ******* and ******** ********** *** ****:
* ****** *********** ****** ** ********* that ***'* ******* **** ****** ******** different ******* **** *** ********* **** isn't ***** ** ** * ****** solution ** *** ****** *** **. We **** ** ** ** *** wecan ****** *** ********* that takes your system plus another system and puts it all together.
*big ********* *** * ************** ******, and interoperability and open systems to allow us to sell a full solution. And allow us to offer that to the client, which I think gives them, you know, a really good user experience. [emphasis added]
Exciting ******** - ***** *** **** ****** ******** *** ************
***** **** ********* ** ***** *** can "*********" ******** ** *** ******** together:
**'*everything ***** ***; ***** ****** *** ***** ********* ******* *** *********** *********** **** ******** **** *** *********. To me, that's *** **** ******* because everybody's so myopic in their thinking around their product or their in-market. [Emphasis added]
*** *********** ****** ** *********, *** Wesco ** ******* **** *** ****** chain ** ******** *** *************:
********'* *** ** **** ** *** aggregate **** *** ******** *** ***** the **** ********** *** *** *** client ** ** ******** *** ************ to **. **** ** *** **** big ******** ** *** ******** ******* you *** **** ** ***** ******** here, *** *********'* *** **** **** of ********.
**** **** ** ** *** *** user, **** *** **** *** ** disparate ********* ****** *****[********], [****] **** to ******* **** *** ********. * think **'** ** * **** ** help ****** ****. ** *****, **'** working **** *** *** ********* **** to ** **** ** ** ****. I ***** ****'* ********** ********* ** the ********, *** * ******* ********** that *** ******** **** *** *** customer **** ** * ********* *** a ************** ** *** ******.
**** **** ** ** ****** ****, and ***** ********* ******* ** *** previous ***, ******, **********,******* ******** *** **** ** ****** "the ***** ** [***] ********** ***************," **** ** ****, ****** ** have *** **** ******* / *** Wesco.
Balancing ******* ******** ******* *** ******* *******
******** ** ****** ******* *** ******** is *********, **** *****:
****** **** ** ***** ** *** way *** *****'* ******** *** ** it's * *********** ** ******* ****** on * ********* ******* *****, ***** able ** ***** *** ****** *** way ****'** **** ****** ** *** past.
**'* **** ******** ****** **** *** outside **** ***** ***********, **** ** with *** ********* ***** **** *********** sold ** ** *********** **** *** similar ** *** *********** **** **'** moving **** ***.
*** ******** ***** ** ******* ******* industry ********* *** ****** **** ******* the ******** ********, ***** ****:
*** **** ** ****** * ******* between *** ***. *** ***'* **** to **** **** ****, **** **** domain ********* **** ****** ** ****** who **** **** ** *** ******** for ** *****.
************, ** ** *** * ****** task ** ***** **** ******* ***** many ******** ********* *** ******* ***** large:
* *** ** ****** **** **** it *** **** *** *** * long ******. ** ** ***** ** ask **** ** ****** ** **** kind ** ***** *** **,*** *********.
Cross-Sell ******* * ******** *********
***** ***** *** *********** *** ********* ***** ********* *******, ***** **** ********** *** *******'* cross-sell ******* ******* *** ***** *********, including ********** & ********** ********* (***), communications, *** ******** ********* (***), ******* and ********* ********* (***), ******* ****** the ******:
**'** ****** *** ** ******* *** entire ***** ***** ** **** ***** conversions, *** **** ***** ********** ******* onto *** ******* *** ******** **** to **** * ***** **** ** products.
** *** **** ****, **'** ****** our ******** **** ***** ******. **'** got *** *** ********, ***** ** the ******** ***** *** ** *** electrical, *** **'** *** *******. ** got ** **** **** *** *** it ****** *** ***** ** *** divisions *** *****-****.
***** ****** ***** **** ** *** cross-sell *********** *** **** ** *** a ********* **** *** *** ******* to **********:
**'** **** ****** ********** ** ******* into *** *********, **** **** **********, and ******* **** *** ********** *****. For **, **** ***** * **** change.
*****-******* ** *** ** *** ******** things *** *** ** **** *** bring *** ********* ********. ***** ******* are *** ******** ** *** **** in *****, *** ******* ** *******.
**'** **** ********* ** * **** standard, *** **'** **** **** ** kick *** **** *** ** *** park ** ** ******* ** *** cross-sell ********.
Servicing **** ******* - *** ********** ** ***** ** ***
*** ** *****'* ******** ***'* *** business ***** ** *** **** ******* such ** ***, *****, *** *********, and **** ******** ** ***** ********** opportunity ** *****, ***** **** *** audience:
*** *****-*** ** **** ******* **** the **** ** ***** *** **********. Overall, ** *** **** ********** ******. The **** **** ***** **** ****** what's ******** ** *** **** ** years ******* ** *** *** ** and ** ************ *** *****.
***** ********** ** *****'* ************** ***** to ******* *** ***** *************:
** ********* *** ********, *** ** got **** ************ ** *** ***** organization, **** **'** ***** ** ** after *** *********, *** ******** **** global ********* ** ** ***** ****. Now ** ***** **** **'** ********** weak, *** ** **** **'** ********** well ********** ** ********** ** *** supercycle **** ** ***** ** ***.
***** **** **** *** ******** ***** of ***** ********* ** ****** ***** where **** *** ** ** *** as ***** *********:
*** ******** ** ***** **** ****** companies ** ********* **** **'** ***** seen ******: ****** - $*** ******* CapEx, ********* - $** ******* *****. These *** ***** *********. ***** ******** are ***** *********. *** **** ** treat **** ***********.
***** **** **** *********** *** ******* acquisition ** **** ******** ******* *** has ******** **************, ***** ****:
**'* ** **** ***** **'** **** organic ******. **'** **** **** ******** made **** ************ ** **** ** fill *** * ******* ******* ********* with ****** ******** ****** *** * better ****** *********.
** ******* ********* *** ********** **** on **** *******'* ****** *********** *** the ************* ** **** ***** *** security ******** ** ****:
** *** ** ** * **********, we ****** **, *** **'* **** getting ******* ** **********.
********** **** **'** ******* ***** **** today ** ***** **, *** *** data, *** ** ** ******, *********, and ********** *********. **** *****-*** ** going ** ** **** ******* **'** ever ****.
* ***** ********* ** **** *** capitalize ** ** ** ****.
***** ** "****** *****" ** ******* data *******' ******* ******, ***** *****:
** *** *****. * ******* **'** really ******* ******* ** **. * think **'** ****** ***** *** **. And **'** **** ******** ** ****** feel *** ******-**** ******** **** *** investments **** **'** **** **** *** last ** ***** *** ****** ******** to **** ******* ***.
Supply ***** *** * ********** ***** ********** **** ***** ******
***** **** **** ***** *** ****** chain *** ** ***** **** ****, it ** ** ****** ******* *** industry **** *******:
**** ***** *** ***** **** ******, you ****. *******, *** ****** ***** is *** ********** ** **** ******* in *** ******** **** ** **** or *** ***** ***** ** ****.
******* ********** *** **** **** ********* to *** ****** ***** **** **** before, ***** *****, ***** ********* **** the ****** ***** **** ** ****** maintained *** * ****** **** *** one *** **** *** ***** ** unlikely ** ****** *****:
**** ** *** ****** ********* ** our ***** *** ************** ** *** supply *****, *** *** ****** ***** has * ********** ** *** * suite *** **** ** ***** *** before. ** ********* *** ******* ** it ** * **** ********* *** than **** *** ******.
**** **** ** ***** ** ***** to ***** ***********. ** **** **, and *******, *** ****** ***** *** been *** **** ****** ** *** level.
Offering * **** ******* ** ********* ** ***********
***** **** **** *********** ******* ** growing ** *** *********** **** ** the ******** *** **** ********* **** requires * ***** ***** ** **********:
*** ****** ** *********** **** ********* to **** ** ***********. **** ***** will ******** ** ****, *** ********** is ******* *** **** ****, *** when **** ** ****, *** ****** have ** ***** **** **** **** every ***** ** ********** *** *** when * **** ***** ** *****.
******** ********* *** ******** ** ******* converged *** ************* ********** *********, ***** said:
**** **** * **** ********** **********. Whether **'* ***** **, ******* **'* the ********, ******* **'* ******** ********, certainly ****** *******, *** ****** ** the ******* ** *** ****, ****** control ** *** ********** ****, *** of **** *** ********* ***, *** of **** ** ***'** *** ** be ******** * **** ******* ** suites *** ******** *** *********. ****'* something **** ** ****** ******. ** want ** **** **** **** **'** offering **** ****** ******* ** ************.
Continue ********* ** ******** ****** *********
***** ****** **** ** *** *** believe ** ******** *** ****** ********* and ***** ********:
***** *** * ********* ***** ** four ** **** ***** ***, ***** before *****, [****** ****] **********'* ***** be ******** ** ****** *** ***'** gonna **** ***** *** ************ *** everything ** ***** ** *** ******* to *** ********. *** ***'* **** these ****** *********. *** ***'* **** these ***** ********.
** *** *** ******* ** **** trend. *** *'* **** ** ****'* because ** ***** *** ******** ********, technical ************, ******* ************, *** ******* to ******** **** *** ******** *** they **** ** ******** ** * full ***** *** **** ** **********.
***** ***, ** ****, ******* ******** in ****** ******, ***** *****:
**'** ******** ******** **** ** *** retail ***** **** *** **** *** years ** **** **** **** **** are ** ** ***** *** **** will **** **** *** **** *** next ******* ** *** ** ***** able ** ****** **** *** *** customers ******* ******* *** ********.
******** ****** *** ********* *** **** and ******** ******** ** ****. ***** said:
**** ******** ******, **** ***** ******** aspect ** ** ** ********* ****'* irreplaceable. ** ** ******** *** ******* for *************' **** ** **** **, with * ***** *** ******* **** the ********, ********** ******* *** *******, installing *** ******* ** * ****, or ***** *** ** *** *** site ** **** ** **.
** *****'* *******, *** *** ********** will, ** **** ******* *** ******** retail ******** **********:
* ***'* *** **** ***** ********. I ***** ** ***** ****, *** the ********* **** ****. [***] *** this ********** **** ****** *** ******** structures.