Target to Grow Revenue 100% in 3-years
The right strategic plan sets the company on an aggressive growth path
PROFILE
A leading provider of Service Manager software, this company empowers organizations to transform their business by rapidly adopting and simplifying the management of digital services. Serving thousands of small, medium, and enterprise organizations, the company faced challenges that impeded its ability to scale and grow.
CHALLENGES
Rapidly Changing Market
The company struggled to respond quickly to new customer and market requirements, which led to missed opportunities and stagnating growth. The fast-paced evolution of the industry demanded more agile responses to remain competitive.
Lacking Strategy & Execution Plan
While the company had a vision of becoming a market leader, it needed a clear strategy, objectives, and an actionable plan to guide its path. This disconnect resulted in misaligned efforts and diluted focus across teams.
Old Software Technology
The company's software was on-premise, limiting its scalability, flexibility, and ability to support modern customer needs. The outdated technology stack hindered the company's ability to leverage modern frameworks, APIs, and a SaaS model that could efficiently serve all customers from the same infrastructure and versions.
SOLUTIONS
OBJECTIVE
To develop a strategic plan that would enable the company to double its revenue in three years by modernizing its product offering and aligning the organization around a cohesive growth strategy.
APPROACH
Strategic Vision and Planning: Aligned leadership around a clear vision and measurable growth objectives.
Technology Transformation: Developed a multi-year technology roadmap to transition to SaaS and optimize for shared resource utilization.
Execution Framework: Established an execution plan with specific actions, timelines, and accountability.
Customer-Centric Innovation: Focused on rapid product innovation to meet evolving customer needs and enhancing user experience.
CONCLUSION
By building a culture of agility, focusing on customer experience, modernizing its technology stack, and executing a clear strategy, the company achieved 30% growth in the first year. This strong execution led to an acquisition at a healthy multiple of its revenue targets, validating its strategic approach.