When One Door Closes: How Outdated Tech Lit the Spark of Innovation

Founded by Fast Company Executive Board Member Eddy Azad and supported by a well-seasoned team of employees, Parsec has grown from a system integrator into a full-fledged technology provider whose manufacturing execution system (MES), TrakSYS™, is driving the future of manufacturing.

The manufacturing industry relies on innovation, yet many companies are still dealing with outdated technologies and rigid processes. Within this challenging environment, the need for modern technology and optimization becomes glaringly apparent.

Parsec, a software company dedicated to making the management of manufacturing operations as simple as possible, embodies this very shift. Founded by Fast Company Executive Board Member Eddy Azad and supported by a well-seasoned team of employees, Parsec has grown from a system integrator into a full-fledged technology provider whose manufacturing execution system (MES), TrakSYS™, is driving the future of manufacturing.

Igniting the Spark of Innovation

“Straight out of grad school, I joined this huge aerospace firm,” Azad recalls. “We were working with decades-old technology and a rigid ‘we’ve always done it this way’ mentality. I was brimming with fresh ideas and tech solutions, but I hit a wall every step of the way. It wasn’t my job to innovate, they said. My frustration kept building until I knew I had to do something different. That’s how the seed for Parsec was planted.”

With Parsec, Azad aimed to cut through the red tape and bring real solutions to complex manufacturing problems. Azad founded Parsec with a clear mission: to make manufacturing operations management as simple and efficient as possible.

Building a business without venture capital is no easy task. Speaking about these early stages of the business, Azad said, “Our first customer was actually the company I left. I went back to the leaders who denied my ideas internally and said, ‘Hey, I have a solution for you.’ My personal connections with the company and knowledge of their issues helped secure our initial engagements quickly.” This early revenue is what allowed Parsec to deliver its first products.

Know When to Pivot Your Business

Despite this success, Parsec’s journey wasn’t a straight path. Azad recalls a pivotal moment in 1993 that reshaped the company’s future. “We had just delivered a sophisticated, tailor-made solution to one of our first clients. Their CEO looked at me and said, ‘I don’t know what we got, but it cost a lot.’ That was a punch in the gut. It made me realize we needed to show customers the value we were bringing in simple terms. That’s when we decided to build a platform to manage visibility and key performance indicators.”

This moment led to the creation of a groundbreaking product in late 1994. “We moved from custom, one-off solutions to a scalable, transparent product that became the core of our offerings. It was a game-changer,” said Azad.

To support the creation of their main product, Azad knew that building a dedicated, skilled team was crucial. Without venture capital, Azad had to be meticulous in selecting team members who shared his vision and were willing to grow with the company.

“We sought out resilient, creative professionals who could wear multiple hats and work collaboratively. This approach brought a strong sense of loyalty so that every team member was deeply invested in Parsec’s success,” said Azad, adding, “Over the years, this core group of talented individuals became the backbone of the company, contributing to its innovative spirit. Their combined efforts and dedication allowed Parsec to continuously evolve and meet the unique needs of businesses across the manufacturing industry.”

On maintaining employee loyalty and well-being, Azad said, “When you demonstrate to people that you are putting them first, it shows. In our 37 years, we have never had a layoff, and we have never had a year that we were not financially successful. That is a testament to the quality of our people and their dedication.”

Advice for Aspiring Business and Technology Leaders

Commitment and agility: “You’ve got to be all in,” Azad advises. Life throws curveballs, and things rarely go as planned. He emphasizes the importance of being ready to adapt and pivot as needed.

Financial planning: Money matters. Azad recalls a mentor’s advice, “Rule number one: Don’t run out of cash. Rule number two: Remember rule number one.” It’s that simple, he says.

Strong company culture: Building a strong company culture is vital. According to Azad, you need resilient, loyal, and creative people who share your vision and won’t give up easily. He continued, saying, “It sounds cliché, but our core team became like family; we wouldn’t be where we are today without them.”

Incremental success: Azad believes in celebrating the small wins. He likens building a business to climbing up a down-moving escalator, adding, “You have to keep pushing to make forward progress.”

Social responsibility: Azad highlights the importance of recognizing the good you are doing while doing business. He shares that his company has saved jobs, kept factories from closing, and brought manufacturing practices back onshore. This sense of social responsibility, he notes, keeps him grounded and instills pride in their work, providing a core vision for the team to rally around.

Azad’s journey with Parsec is a masterclass in turning frustration into innovation. By focusing on simplicity, building a strong culture, and maintaining financial discipline, Azad created a company that not only survives but thrives. His story is a powerful reminder that with commitment, agility, and a clear vision, you can overcome obstacles and build something truly impactful.

“The relationships I’ve built, both internally and externally, with our people, our leaders, and our customers, have been the most meaningful part of this journey,” Azad said. “They have been central to many of the ideas, innovations, and opportunities we have had.”

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