Industry Leading Technology Company
How we steered the business away from making the wrong change and helped execute the right one
This software business was a former industry leader, but their position in the space wasn’t quite as solid as it used to be. They realized that unless they made a big change, they’d be out of business in three years or less. They needed a plan to turn things around.
The company provides technology solutions that help in business processes, citizen services and the environment. One of their most successful tools helped local governments manage the building plan review process. Their solutions often required expensive hardware, so newer, cloud-based technologies were a real threat. The new options were cheaper and easier. This company was not keeping up.
Kayson knows how to reinvent legacy products, so we were the perfect partner to evaluate the company’s new product plans.We completed a feasibility study that looked deep into their current product, the state of the market, where this new product would fit and what it would cost to get there. We were looking to validate where the company was going.
Our research on the market, competitors, and the client’s initial product plan showed us that the direction our client was headed in was the wrong one. Their initial plans cost more than the company could afford, would not yield the results they had projected – and needed to stay afloat – and didn’t address the actual problems that were causing them to lose business in the first place.
Working with Kayson gave the company the chance to reset their strategy while there was still time. They aligned their plans with their internal resources, available budget and true goals. Because they made the change before investing time and resources in the original plan, they saved millions.