10y
Appreciate your candor and you must really care about the company to write such a long and well thought out letter. While I will disagree on a few points, some of your thoughts are right on!
Let me address a couple of your points:
1. While I agree we need to adapt to new ideas, we still have to service the over 250 clients with the service levels they desire and contracted. We are working hard to change, but can only move as fast as our clients move. Sometimes this is fast sometimes this is not.
2. Certainly I would not disagree with tech needs and we continue to invest in new technology to help our clients and provide more assistance internally. We have invested over 6m dollars in capex the past two years alone. We are making progress but I have said many times we do have gaps. More to come!
3. I do not agree with your statement that we don't listen to our employees or have little insights on where we should go (obviously paraphrasing a bit). Over the last 18 months we have launched OPM to cater to non-profit schools, opened offices in UK, Australia, and Canada to diversify our US business, developed new CRM software for OPM/Integrated Marketing, and continue to expand our career prep software, Seelio, to many schools. What I am sorry about is that we maybe did not do a great job with showcasing these initiatives to all employees.
Lastly, the EDU space is going through a lot of change and the team at Keypath are all working hard to improve our business and future proof the company for the next 25 years. I am not sure how many companies you have run, but these is not an easy tasks and take time, but I am confident in our people.
I wish you all the best in your new endeavors.
Steve