Episode description
Episode description
On the second episode of Enterprise Software Innovators, hosts Evan Reiser (Abnormal Security) and Saam Motamedi (Greylock Partners) talk with Shamim Mohammad, Executive Vice President, Chief Information & Technology Officer of CarMax. CarMax has been at the forefront of the used car business for decades and has consistently stayed at the frontier by being unafraid to adopt new technologies alongside their core business. Shamim walks through the differences of what he calls “start-up” vs “end-up” companies, and the multiple ways CarMax has deployed exciting new technological innovations to keep their business thriving. From AI models to an omni-channel customer experience, CarMax is a worthy example of a previously exclusively brick and mortar business that has successfully transformed themselves into a digital platform.
Quick hits from Shamim:
On CarMax disrupting itself in their transformation to being a digital business: “…fortunately for CarMax, we were not afraid to disrupt ourselves because we knew that if we didn't guess what's gonna happen, you know, maybe not immediately 3, 4, 5 years, 10 years down the road, we would be disrupted. So we wanted to disrupt ourselves before somebody else did.”
On the omni-channel approach CarMax offers its customers: “If somebody is not as comfortable with all the digital experiences and they want to go talk to a human being in a store, they could do that. So what I found is in our omni-channel approach, most of the customers are taking advantage of the digital tools and capabilities we have built, but then also a lot of them are going to the store and finishing their transaction."
On the importance of a startup ethos: “I've seen what a startup kind of mindset can do. And the energy and the passion a startup company has is invaluable. And when the company gets too big and gets away from that startup mindset is when trouble begins.”
Recent book recommendation: Getting To Nimble by Peter High
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Enterprise Software Innovators is a show where top tech executives share how they innovate at scale. Each episode covers unique insights and stories that will help you succeed as a technology leader. Find more great lessons from tech leaders and enterprise software experts at https://www.enterprisesoftware.blog/
Enterprise Software Innovators is produced by Luke Reiser, Josh Meer and Emily Shaw.