Digital Identity Management, Biometrics
80%+ direct sales
Increase M&A/IPO company valuation for a private equity backed business that sells digital identity management and biometric solutions to governments, airlines and airports. The company’s focus on hardware was limiting its ability to build repeat business, generate recurring revenue and attract a high valuation. Above all, the company needed to adapt its GTM and product strategy to survive through COVID.
Focus on top-line revenue growth and establish a recurring revenue business. To deliver this, we:
- Added real-time visibility and collaboration across the business (from quote to cash); including people, process and technology (implemented Salesforce.com, Microsoft Power BI and real-time integration with Oracle ERP);
- Transitioned away from one-off CAPEX transactions to a recurring SaaS/OPEX business model;
- Redefined the GTM strategy and segmentation model (with an aligned sales incentive plan), to focus on tier 1 accounts to drive top-line revenue growth;
- Implemented sales enablement and methodologies (MEDDIC, BANT) to improve forecast accuracy and reduce time to revenue;
- Deployed the ‘Challenger Sales Model’ to focus on value and business outcomes; increased average deal size by 150%.
What was achieved
During the pandemic, we helped the business achieve:
- €87m TCV bookings
- €47m annual revenue