President & CEO
Location: Hazelwood, MO
Industry: Document & Data Management
As Michael Steinmann says, “Your gut can only get you so far.” That’s why, when it comes to growth and problem solving, Steinmann believes in seeking out others’ knowledge and experience.
“In my opinion, experience is by far the best addition to any business,” he said. “Outside experience can bring you another approach or concept that could revolutionize your normal day-to-day operation.”
Steinmann, who is president and CEO of HITS Scanning Solutions, has over 20 years of experience in document management. He started his journey with HITS working in the warehouse as a high school senior in 2001. He then worked full time while attending Lindenwood University, earning a bachelor’s degree in business management.
Steinmann's hard work gave him knowledge and understanding of the entire company from the inside out. He became senior vice president in 2014, and in April 2015 he had the opportunity to purchase HITS from its founder.
Since Steinmann took ownership, HITS has seen 20% year-over-year growth and has been able to develop key partnerships with billion-dollar organizations. He also led development of innovative software for the healthcare industry, which was adopted by 30 clinics and five hospitals within its first year on the market.
In recent years, HITS acquired three competing businesses. These acquisitions enhance the company’s commitment to deliver innovative and reliable information technology and management services while expanding its service portfolio to new client segments.
Currently underway is a $10 million expansion, which will position HITS as the first commercially owned National Archives & Records Administration (NARA)-compliant record storage facility in the St. Louis metropolitan area. Once completed, the 80,000-square-foot building will meet or exceed NARA’s strict guidelines. Its heightened security will allow HITS to secure federal contracts to manage and process records for the U.S. Department of Defense and civilian agencies.
Steinmann has been recognized throughout the industry, including recognition as one of the 20 Most Promising Document Management Solution Providers from CIOReview; Best of City for Document Scanning and Conversion and a spot among the 50 Leading Companies of the Year from The Silicon Review; and, most recently, Technology Small Business of the Year for Eastern Missouri from the U.S. Small Business Administration.
He’s also been honored for his Save the Planet program, a tree-planting initiative in St. Louis’ Forest Park. This program recognizes local customers who have scanned large amounts of paper with HITS and plants a Paperbark maple tree in their honor. So far, HITS has scanned and recycled over 2 billion documents, which is equivalent to saving over 20,000 trees.
Mike has taken his knowledge, skills, and experience from the healthcare industry into the world of cannabis and started a company in 2016 called FloEnvy. FloEnvy is the premier cannabis cultivation software and is currently utilized across 5 countries. FloEnvy closed out 2021 seed round with $750k raised on a $10 million dollar valuation. Mike is very excited for the continued growth and development of FloEnvy.