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Wednesday Interview — A Few Questions For: Murray Williams, New Sigma Labs CFO

by • July 26, 2016 • No Comments

swm sigmaSigma Labs, a significant manufacturer of in-system non-destructive high end inspection systems, has long been on our radar, as the company has been involved in QA testing in metal additive producing for a few time now, not long ago signing a non-exclusive license to allow Aerojet Rocketdyne to use their PrintRite 3D software applications to evaluate 3D printed components utilized in producing for the US Air Force. The company in addition signed a half-million-dollar contract earlier this year with GE Aviation and America Makes, as well as forming a complementary partnership with 3DSIM. As the company continues its path of growth in high end inspection systems for metal-based AM technologies, along with other high end producing systems, Sigma Labs has not long ago revealed the appointment of a new Chief Financial Officer.

Announced just last week, and effective as of July 18th, Buy.com founder Murray Williams is Sigma Labs’ new CFO, delivering with him decades of experience — and welcomed aboard at Sigma Labs with open arms.

“It gives me excellent pleasure to announce Murray’s decision to join Sigma Labs, where I understand he’ll start producing a significant contribution of day one. Murray’s years of experience in all aspects of finance and business createment – along with his one-of-a-kind understandledge of expanding early-stage, innovation-driven enterprises – bolsters Sigma Labs as we move into the following phase of our createment. Having a pro like Murray on board unquestionably validates where we believe the next lies not just for Sigma Labs but for the AM industry in general. He can assist us in achieving our future as we focus on swifter growth and a path to profitability,” said Mark Cola, President and CEO of Sigma Labs.

murray caniams

Murray Williams, CFO, Sigma Labs Inc.

Having heard of Williams’ appointment, I was ready to learn additional of what his appointment can mean for Sigma Labs. As the company is unquestionably succeeding in partnerships, licenses, and contracts that bring a excellent buzz to the additive producing industry as a whole, it is significant that the organization have the right team in place to ensure proper channels of growth — and of course the financial aspect of that is significant to any company’s good results.

I not long ago had the opportunity to pose just A Few Questions For Murray Williams of his appointment at Sigma Labs.

Can you briefly describe your background in financing for us?

I’m a CPA and began my career in public accounting with KMPG. I was a manager in their audit practice with a team of over 20 pros and left KPMG after 5 years to become one of five founding participants of Buy.Com, Inc. (now Rakuten.com). I served as Buy.com’s chief financial officer and VP of business createment, and made and created the accounting, finance, legal, business createment and human resource departments, expanding the company of 5 employees to 350 employees with 500 outsourced customer service representatives, achieving $1 billion in sales after three years. After Buy.com’s sale in 2001, I consulted for an investment-banking firm and served as interim CFO for their clients; working with the auditors, attorneys and bankers to take those companies public. In 2003 I founded a consulting firm that specializes in bringing companies public and managing the accounting, finance, legal and SEC financial reporting functions, and served as CFO of many of the clients.

How has your background made you for work with Sigma Labs?

I believe my 23.5 years experience dealing with accounting, finance, legal, business createment and SEC financial reporting can assist Sigma Labs manage all the issues that publicly traded companies and swift growth companies typically deal with. I believe all of the things we experienced expanding Buy.com of zero revenues to $1 billion in revenues with 350 employees can be quite beneficial as Sigma Labs embarks on the path to becoming a significant provider of software high end assurance solutions for the industrial internet of things (IIoT).

How do you foresee your approach to assisting the growth in the additive producing field?3-ContourDiagrams

Our PrintRite3D QA software is an allowing innovation that can allow manufacturers to move of prototyping and tiny lot producing runs to volume production levels as well as complete and maintain compliance to strict regulatory guidelines such as those issued not long ago by the FDA.

What is your perception of the AM industry as it stands now? In five years? In ten?

Currently, the timeline for the Additive Manufacturing industry is at a point that is analogous to the producing industry of the early 20th century. For the past 90 years, we have utilized final inspection to verify product conformance to specifications and statistics and to quantify the consistency of the system in meeting those specifications. In-Process Quality Assurance, therefore, represents the initially significant new concept in high end control in approximately a century. Its impact may well be as far-reaching in this century as statistical system control has been in the last century. In five to ten years we assume In-Process Quality Assurance and control to significantly increase our ability to characterize and control producing systemes of tiny precision lots. The potent combination of inexpensive and virtually limitless computational power, inexpensive sensors, and algorithms capable of dealing with big, difficult data sets has set the stage for a revolution in our approach to producing high end…enter the industrial internet of things (IIoT).

Where do you see Sigma Labs’ place being in the AM industry as it grows?

Sigma Labs is positioning itself to be a significant provider of software high end assurance solutions for the industrial internet of things (IIoT). Sigma Labs is positioned to provide QA software solutions not just for additive producing but in addition other high end producing technologies that in these times are not capable of producing the transition to the IIoT without an allowing innovation like Sigma Labs’ PrintRite3D.

1-3DPrintingProcessWhat does a path to profitability typically appear like in AM? What trajectory must a company take to complete its goals?

Sigma Labs’ path to profitability can be quite much like to the path to profitability of many software companies….create cutting-edge products that provide savings for our customers that are far excellenter than the cost of our products, create a sizeable user-base and provide exceptional customer service.

Do you have any other thoughts you’d like to share with us of metal 3D printing?

To summarize, metal 3D printing or metal AM is in these times in the early stages of its product evolution moving of early adopters to early significantity. Metal AM in these times is at the chasm that exists between these two stages. Sigma Labs’ PrintRite3D QA software suite has been created to bridge the gap and allow early adopters to move contiguously and seamlessly of their system createment efforts into volume production. In so doing, the early adopters have provided the much needed leadership and connectedness to the broader community and other future adopters.

With decades of experience and a clear enthusiasm for his new position, Williams’ appointment appears a sturdy step forward for Sigma Labs. We can appear forward to continuing to follow their growth.