growth workshop for eximsoft

8/2/2019 Growth Workshop for EximSoft

1/59

Strategy Workshop for

EximSoftConducted by Prayag Consulting

15 May 2003
http://www.eximsoft.com/english/home.htm


2/59

Session 1

SWOT Analysis


3/59

EximSoft SWOT

Strengths Weaknesses

Opportunities Threats


4/59

Session 2

Arriving at a Sales & marketing

Strategy for EximSoft


5/59

MarketsSegments

VerticalsSelling methodsPositioning

The considerations.


6/59

Consideration 1: Regional exposure

Current scenario

Over-dependence on

Japanese market and1 US client is fraughtwith risk

Japan is a price-conscious market, andlower on profitability

There is need to look atother markets

Japan 37%

US &Canada

35%

India 18%

Others 10%


7/59

Looking at New geographies

Multiple geographiesstrategy (one or moreof)

More focus on US UK

Nordic region

Benelux

Australia


8/59

US and UK

Pros

Traditional outsourcers of IT work

Familiar with concept of outsourcing

Exposed to Indian resource pool

Mid-sized companies are waking up to the importance ofIT investments

Cons

Crowded and fragmented market place

Companies would prefer to use known vendors?

May require a direct presence in the market


9/59

Nordic region and Benelux

Pros

Relatively less crowded markets

English is an officially accepted language

Nordic region is an early adopter of technology

Cons

Need to understand the local market andconditions well

Market opportunity is not as big as the US or UK


10/59

Australia

Pros

Familiar with concept of outsourcing

Reasonably exposed to Indian resource pool

English speaking

Cons

Insular and takes time to break in

Local presence may help


11/59

Consideration 2 : Profile of customersto target

1. Sub-Fortune 500companies

Revenues in the range

of $500M - $1.5B

Employee strength inthe range of 500 - 1500

Mid-sized segmentStrategy

Data Type


12/59

Profile of companies to target

2. Mid-sized Product companies desiring to set up an ODC Concerto Software

Macromedia

Hummingbird

CommWorks TIBCO Software

Interra Systems India

Triple Point Technology


13/59

Consideration 3: Project solutioncompetence

Smart Card solutions Banking

Retail Telecom Government Hospitality

Payment solutions Banking Retail (Ecommerce)

Mobile Applications Telecom BFSI Entertainment

Messaging systems Across all verticals

Verification and Validation solutions End User as well as technology service provider

Localization solutions Japanese market

ERP Implementation services

Point to Point integration


14/59

Consideration 4: Focus on Verticals

Based on past experience, EximSoft canfocus on these verticals:

BFSI (ICICI)

Manufacturing (3DBT)

Healthcare (BBS)

Telecom (Airtel, E-Jan)

Technology companies (Melpo, Dwango)


15/59

Selling methods

Channel partners vs.

Are they entirely committed to your cause?

They may not have a full understanding ofyour business and solutions

Does EximSoft invest enough in therelationship?

Lesser overheads and investments


16/59

Direct Selling

In house Sales team will have a betterperspective

Sales team will have more incentive to sell

EximSoft Sales team will have individual targets to reach

Sales team selling the organization as a wholegives a better image to the prospect rather than

a channel partner More investment and overheads for EximSoft

but payoff will be more


17/59

Positioning exercise


18/59

Your perceptions

Think of 3 words that you would associate with

EximSoft


19/59

Ways to Position EximSoft

Objective is to position yourself as areliable technology partner proficient inmultiple emerging technology platforms

with a proven track record

Alternate positioning?


20/59

Discussion


21/59

Key decisions on S&M Strategy

New Markets

Nordic Regions

US

Customer segments

Mid sized companies

Product companies


22/59


Solutions

Verticals BFSI

Healthcare

Manufacturing Telecom

Technology


23/59


Selling method

Combination of Direct selling and Channelpartners

Positioning

Come up with positioning statements


24/59

Session 3

An approach to Sales and

Marketing


25/59

Learning from others experiences

Infosys (the Japan experience)

Interglobe Technologies (makinginvestments in S&M)

Congruent Solutions (setting up a salesfunction)

Wipro, TCS (IT outsourcing versus ITprojects)


26/59

What do other companies do?

Lead generation (IGT, Wipro)

Customer Communication (Infosys)

Thought Leadership (Cognizant) Events (Wipro, Infosys, BWIR)


27/59

Session 4

Goal Setting for the next 3 years


28/59

Planning for the next 3 years

Sales & Marketing

Delivery Other functions


29/59

Snapshot of a 3 year Plan (2003-06)

Revenue target for 2006 in $ 12M

Verticals to focus on

Technology companies BFSI Manufacturing Health care Telecom

Geographies- US, Europe, Japan, Australia,India


30/59

Sales Forecast for 2003-06- Region-wise

Year 1 Year 2 Year 3 Total

US $.4M $1M

Japan $2.7M$5M -$6M

Europe $1M

Australia

India $0.6M

Total $3.8M $8M $12M


31/59

Sales Forecast for 2003-06- Vertical-wise

Year 1 Year 2 Year 3 Total

BFSI

Manufacturing

Healthcare

Telecom

Technology


32/59

Plan for the year 2003-04- A snapshot

Revenue target for the year $ 3.8M

Existing accounts forecast $ 2.5 M

New business forecast (known Prospects) $

New business to be acquired $ 1.3M

Verticals to focus on Technology companies

BFSI

Manufacturing Health care

Telecom

Geographies- US, Europe, APAC, India


33/59

Sales Forecast for 2003-04- Region-wise

Q1 Q2 Q3 Q4 Total

US

Japan

Europe

India


34/59

Sales Forecast for 2003-04- Vertical-wise

Q1 Q2 Q3 Q4 Total

BFSI

Manufacturing

Healthcare

Telecom

Technology


35/59

Key account information forecast

Customer OnsiteRevforecast

Offshore

Revforecast

Onsiterate

Offshorerate

Onsitepeople

Offshorepeople


36/59

Drill down of Q2(should at any point reflect next quarter)

Month 1 Month 2 Month 3 Total Remarks

Target

% total

Existingcustomers

Knownprospects

New biz to be

prospected

Avg blendedrev/pm

No. billablepeople


37/59

Business development plan for2003-04

Q1 Q2 Q3 Q4 Total

New biz(target-existingcustomers)

New accounts

Proposals

First meetings

Cold calls

Direct mailers

Include action plans relating to opening new offices, hiring new people,

striking new alliances, if any


38/59

Business Development Plan forthe Quarter

May M1 M2 M3 Total

Meetings with existing a/cs

Cold calls market 1

Cold callsmarket 2

Follow up callsmarket 1

Follow up calls

Market 2

F2 F Meetings-

Follow up meetings

Proposals submitted

Deals closed


39/59

Marketing goals

Lead generation program calendar Target sector

Number of targets

Key message

Mode (electronic/direct mailer)

Date

Service/solution definition plan

Web site plan (enhancements and maintenance) Customized pitches for prospecting situations

White papers to evidence thought leadership


40/59

Suggested Marketing plan for Q2

Creation of database for telemarketing numbers (Tech, BFSI

companies)

Direct mailer program (July to target 200 Technology companies)

August 200 BFSI companies

Define 3 offerings/solutions

Review collateral

Sprucing up of website, including search engine registrations

Support for customized pitches Identify and participate in events


41/59

Important S&M initiatives

Identify telemarketing person in India

Detailed weekly reviews to assess performance vis--vis

plan

Selective participation in events for lead generation

Database creation facilitation through Hoovers

Focus on Technology and BFSI segments in first two

quarters Decision on sales person


42/59

Sales & marketing budget

Offshore marketing team

1. Salaries for people

2. Collateral

3. Cold calling4. DMs

5. Alliances

6. Tools

7. Training

On-site team

1. Field Sales people salary

2. Travel

3. 1 Sales Head4. Entertainment

5. Rental for office

6. Admin costs

7. Event participation


43/59

Delivery Goals

Manpower plan

Training (soft and technology)

Competence building initiatives

Quality and process improvement includingcertifications

Plans for new DCs including proximity

development center Methodologies

Investments in Tools and alliances


44/59

HR goals

Recruitment

Benchmarking of compensation withindustry

Innovative compensation packagesdesigning and performance managementsystems

Employee development initiatives Strengthen ability to hire non-technical

people

O h l l d i l


45/59

Other legal and commercialaspects

Contracts

Letter of engagements

Signoff documents at every milestone Receivables follow-up processes


46/59

Tracking Mechanisms

Session 5


47/59

Business Performance Tracking

See Printout

Review calendar for Sales & Marketing


48/59

Review calendar for Sales & Marketing

Frequency Review objectives Review participants Suggested format

Weekly1. Progress on telemarketing initiatives- is

the level of activity as per plan2. Quality of work3. Any show stoppers? Any course

correction to be done?Based on the KRAs designed1. Sales pipeline review-To identify any major changes in status

compared to earlier week that wouldhave an impact on downstream planning

5. Strategic account review *based on the account template

Participants:

Reviewer:

One hour discussion basedon the weekly report

Discussions based on thepipeline report (xl) andthe account template

MonthlyDiscuss planned activities for the month

lead generation programs, eventparticipation, collateral, websiteimprovements

Review performance of earlier month

Billings & Sales pipeline review

Participants:

Reviewer:

Presentation by revieweesto reviewer

Discuss actual billings vs.plan

Review health of salespipeline

List down actions needed tobe taken to attainquarterly and annualtargets

Quarterly Group review of S&M-Team building (even if done remotely!) and

performance reviewTeam members to come out with new ideas to

improve team effectiveness

Participants:

Reviewer:

Presentations followed bydiscussions

day


49/59

Review Report for the week of

Criterion 1:Cold Calling target companiesGoal: 300/month

Actual to date:

Criterion 2:Building up database of at least 4 contacts per company

Goal: 150/month

Actual to date:

Criterion 3: Number of Target companies requesting more information on EximSoft as a result

of repeat calling.

Goal: 75/month

Actual to date:

Criterion 4: Number of companies agreeing to a teleconference or meeting as a result of #1

and #2.

Goal: 25/month

Actual to date:


50/59

Account Management

strategies

Session 6

Growing the account


51/59

g

What are the clients IT objectives for the next five years?

What can we do to help achieve those objectives?

How can we improve our service levels?

How do we get closer to their subsidiaries/group companies?

How can we win new business with them (cross-sell other services, grow with existing servicesoffered, look at new divisions etc)?

Do they have a relationship with other software service companies (EximSofts competition in thataccount)?

If so, where do we stand with respect to them (in terms of revenue, perception andgrowth)?

Given the above, can you provide an estimate of revenues for the next year (2003-04) from thisclient. Please provide three scenarios (Optimistic, Realistic and pessimistic)

Also articulate if any specific steps need to be taken by EximSoft to make this happen.

Account Mapping Template


52/59

Account Mapping Template

Client Name-

When enrolled:

How enrolled:

Who are the key contacts from the client side (name, location, designation)

Who are the people from Eximsoft managing the account/interacting with client representatives?

Describe their role.

Is there an onsite account manager from Eximsoft? When would it be appropriate to plan for

such a person?


53/59

What are the current and completed projects. Describe the nature of the service offered,duration, man-months, project beneficiary from the client side, business benefits, clientfeedback, if any

Name of

project

Current/comp

leted, ifcurrent, whencommenced,and expectedcompletiondate

Project

anchor

Key contact

person atclient side,withdesignation

Brief

description(to covernature ofservice,benefits toclient)

Client

feedback, ifany


54/59


55/59

Account Management Plan

Penetrate existing accounts (Draw up anaccount plan for existing accounts by May 31)

Plan for Customer 1

Targeted revenue for the year- Visible business Gap- Account penetration plan

1 By (date) [person responsible] 2 3


56/59

Discussions

Vendor strategy to penetrate this segment


57/59

Vendor strategy to penetrate this segment

Vendors need to create go-to-market strategies around business

process solutions and not IT services capabilities

Identify target segment Need to be narrowly focused else riskineffectiveness by spreading too thin

Narrow down the search totop tier companies

Understand their buying behaviorand spending pattern

Focus on those companies which offerpotential to move to bigger league

Understand IT budget allocation outside theIS department as well

Choose appropriate channels Combination of direct and indirect selling

Tailor marketing messages ROI and TCO concept Focus on offering business solutionUnderstand what the clients competitors

have in place Referencible clients

Sales strategy


58/59

Sales strategy

The sales strategy needs to exhibit an understandingof

drivers for IT usage The MSE mindset Their in-house IT capabilities as well as Current perceptions about outsourcing and

offshoring

Marketing strategies for IT service providers


59/59

Marketing strategies for IT service providers

Larger companies and Mid tier companies

Limit the target market for direct sellingClearly define the target segment w.r.t size, geography and verticals Very important to analyse how technology is used and, even more importantly,how technology is viewed by the company though the companies are similar insize, the perception towards IT implementation will be different

Entering into partnerships to cater to smaller opportunities Excellent rapport with local bodies and associations Telesales efforts

Relatively smaller firms

Emphasis on indirect selling Can address through IT staff augmentation service providers, Onsiteconsulting firms, Project management companies and Software servicemarketing companies But need to look at active direct marketing efforts in the medium to long term

growth workshop for eximsoft

Documents