Technology & Engineering Case Study
CASE STUDY
Business Problem
Our client, a provider of consulting services in the energy sector, faced challenges scaling their business and growing into new markets.
The Solution
With the help of Optimize, the client relaunched a software solution to augment the company’s traditional engineering services. The product included the ability to read sensors in the field and provide intelligence on the risk of failures in various pipeline systems.
Optimize Activities
- Optimize lead 4 strategic planning sessions with the company’s management team.
- Optimize lead a market study effort, to better understand customer’s shifting needs and requirements.
- Optimize conducted an evaluation of the company’s internal capabilities so that it could develop the necessary resources (people, processes and technology) to support growth.
- Optimize lead an effort to map and revitalize the company’s product development process.
Outcomes
- Through managing business development and mix, the client was able to achieve the targeted blended margin.
- The software created a much-needed reoccurring revenue stream, offering greater revenue predictability (in an extremely cyclical industry).
- The software product grew to more than 50% of revenue, providing much needed revenue diversification.
- The company become more relevant in its core market, attracting several Fortune 500 and reducing its client concentration risk.
- The company expanded, adding a 2nd international location to manage its business on a regional basis.
The company implemented its first formal product roadmap process.
