Our work.
SaaS carve-out
Value created
Business case, technical design and organisation implementation plan that led to a £16m carve out.
Stand-alone SaaS billing platform that protected 43% of revenues and reduced cost of operations by 3.5%.
Context
At the time, this business unit generated about £10bn of the group revenues and primarily focused on enterprise services.
The business unit used proprietary enterprise software (built in-house) to deliver client services.
We were asked to determine the value of transforming the enterprise architecture into more modern architecture as maintenance of the legacy platform was becoming comparatively more costly.
We also investigated the value opportunity of creating a SaaS suite for Enterprise customers.
What we delivered
Research and analysis that demonstrated a systemic shift in market demand (driven by BYOD).
TAM/SAM/SOM revenue and customer forecasts.
Quantification of revenue at risk.
Identified potential carve out revenue streams (from historically bundled services).
Designed the business carveout:
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Architecture
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Implementation plan
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Development and operations organisation design.
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Skillsets
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Pricing
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Go To Market strategy
Hardware to software transformation 'softwareisation'
Value created
+8% revenues
+23% EBITDA.
+5% market share.
Additional revenue streams.
Context
A UK-based £25m provider of remote desktop hardware for
high-security and latency-intense applications.
COVID wiped out the value proposition because home installation was very complex and low home internet speeds caused service interruption. In addition, the hardware was not designed to facilitate video calls which had become a key requirement.
This placed 74% of revenues at risk (competitor solutions were coming to market and the average customer refresh cycle was 3 years).
The only sustainable future was in software, which required transformation of both the products and the organisation.
What we delivered
Defined software-based product portfolio.
Created hardware and software architectures.
Created hardware/software disaggregation strategy.
Formulated implementation plan (development, customer transition,
GTM strategy).
Formulated legacy support plan (product retirement, inventory management, market communications).
Designed FTE and skills transition programme.
Forecast P&L impact and sized the required investment.
Product portfolio strategy
Value created
Evidence and analysis to support $100m investment raise.
Modem portfolio roadmap to protect 61% of revenues (and increase revenues).
Map of operational transformations required to implement ‘as a Service’ organisation.
Context
A global $430m provider of satcoms equipment hardware including ground station hubs and modems for ships, planes etc.
We were asked to scope hardware modems for future developed and to assess the viability of modems currently in development.
What we delivered
Market and customer analysis showing systemic market shift to software.
Revenue forecast for hardware business as usual that identified 61% of modem revenue at risk.
Product strategy for a Software Defined Modem ecosystem (SDM).
Technical architecture.
Portfolio strategy.
Implementation plan for SDM and ‘as a service’ transformation.
Product portfolio rationalisation
Value created
Reduced number of products
from 140 to 40 with zero impact on revenue.
+9% EBITBA.
-30% cost of Customer Support.
Reduced complexity in Sales, Product and Engineering management.
-37% technical debt.
Context
A $1.4bn satellite operator providing global, mobile voice and data services to ships, airplanes and fixed remote sites, for both civil & defence.
The company has a long history and so had launched many new products. Because of the proprietary nature of the technology, there had been little customer migration to newer products and very little product retirement, resulting in 140 active products, overlapping product functionality, inefficiency, market confusion and internal complexity.
In parallel, it had become increasingly difficult to support legacy products.
What we delivered
Defined the product portfolio rationalisation objectives and metrics (in this case, revenue and CLTV).
Mapped products to create a rationalisation list and ring-fenced critical products (military,
blue-light etc).
Used automation tools to identify product feature synergies.
Created migration plans for each product feature and product retirement plans.
Reviewed & renegotiated contractual terms and break clauses.
Created customer outreach plans.
Strategic technology due diligence
We investigate when the majority of the investment thesis value is driven by the technology ecosystem. Examples include proprietary SaaS platforms that generate EBITDA, bespoke AI and ML engines that enable revenue-generating services, and hardware development that are the main products.
Edtech SaaS
Impact investment in a leading UK learning platform used by government and private secondary and primary schools.
IoT Platform scale-up
Technical due diligence for a buy-out investment in a
US-based global consumer goods devices & operations platform.
B2B Fintech growth
European fund considering a majority investment in a French B2B SME supply chain financing platform.
B2B Fintech growth
Evaluation of a French based accountancy platform for a European buy-out growth investment.
Healthcare
& health tech
Fund considering a minority stake investment to bring telehealth ML and
non-clinical products into a UK secondary healthcare services business.
Healthtech
Technology assessment of a UK regulated primary healthcare provider for a
buy-out investment.