A multinational enterprise software and technology company providing an industry-leading suite of products and solutions across API management, IoT, analytics and business transformation.
The Challenge
Faced with increasing pressure to grow, our client was exploring a 360-degree partnership with a new-age company. The driving factors for partnership were the need to increase market share for the strategic product portfolio, protect revenue margins and existing customer accounts, and focus on digital acceleration of strategic products.
The Solution
Persistent employed five out of six of its proven “levers” to help the client meet and resolve these multiple challenges – including scalable engineering, mature product carve-out, professional services, R&D IP creation/co-fund innovation and enterprise access.
At the outset of the engagement, we created a dedicated Center of Excellence (COE), and implemented a multifaceted approach to support our client. Next, we created a product roadmap and supported end users with a product-led strategy, ensuring customer satisfaction through targeted engineering. We extended the client’s engineering capacity by taking on responsibility for supporting their mature products, and also added capacity to accelerate their engineering roadmap.
Persistent rebadged the client’s professional services team in India and the US and set up a professional services team for the European markets. We are also migrating our existing solutions and building new domain-specific solutions on the client’s platform — this helps them sell value-added solutions, potentially at a higher margin and with minimal investment, given that Persistent is investing in developing these solutions. We have also enabled our 200+ sales team to sell these new solutions to our customer base.
The Outcome
Our new industry solutions combined with an extended sales team and professional services team has positioned the client for further growth, and helped to arrest portfolio and revenue declines. With Persistent taking over product ownership, hundreds of the client’s personnel are freed up to focus on growth initiatives, driving digital acceleration within their organization.
To date, Persistent has also trained some 2000+ engineers globally to support our client’s technology stack; these engineers promote increased brand awareness and extend the firm’s reach across global markets.
