Driving new growth and margin opportunities for a leading electronic discovery service provider.
An e-discovery service provider needed to explore new offerings, given shifting market dynamics from professional services to technology-based solutions. To defend the existing client base against encroaching competitive technology solutions, and to reach new customer segments, the company wanted to introduce a recurring revenue cloud-based product. A key concern was to minimize potential cannibalization between the new offering and the core business. Additionally, the existing business model and enterprise systems were optimized for large custom professional services engagements vs. a highly scalable do-it-yourself delivery model.
Waterstone partnered with the client leadership team to develop a go-to-market strategy, pricing model, customer support structure, and to drive product launch execution. For the new offering, Waterstone defined the go-to-market strategy, organization structure and roles, and operationalized key processes and workflows post-launch. The team developed market and account segmentation, and conducted detailed and extensive competitive benchmarking for offering features and pricing. For the new offering, Waterstone developed new pricing models and price points, the business development structure and approach, customer support tiers, and future product development roadmaps. The team successfully drove custom pricing strategies for several key strategic, early adopter reference accounts, as well as developing job aids, deal TCO calculators, and supporting templates for the sales team. The Waterstone team also conducted complex financial modeling to size three-year revenue and EBITDA potential, potential cannibalization of the core business, and total cost of ownership (TCO) comparisons to competitive offerings. In addition to overall program management responsibilities, the Waterstone team acted as the interim executive function leading the new business unit through product launch and initial market scale phases, as well as ongoing product management.
The cloud-based offering was succesfully launched with several early client wins. Waterstone continues to assist the company through interim executive leadership, program management, driving service delivery improvements and scalability, and leading financial planning/ forecasting for the new line of business.