Security Technology

The Situation

  • Privately-owned technology company – experienced flat or declining revenue for four years
  • Product development team was unfocused and lacked both strategic direction and the ability to cross the finish line
  • Leadership consistently over-estimated future revenues and the cost-structure had ballooned beyond what actual revenues could profitability sustain

Role(s)

  • Interim COO
  • Financial Advisor

The Work

  • Engaged as financial advisors and interim COO
  • Redesigned CRM tool and developed new dashboards to increase “top of the funnel” activity and introduce healthy competition among sales directors
  • Conducted heavily facilitated sales team meeting to set expectations, complete sales plans, and gain feedback which guided product development dollars to initiatives with fastest path to revenue
  • Identified key barriers to onboarding new customers and designed, built and implemented online tools to remove prior on-boarding barrier
  • Led role clarification and hiring selection of the new, permanent President to carry momentum forward
  • Released client’s first self-paced, online, training program for new dealers, removing most significant barrier to onboarding new clients/increasing market-share

The Results

  • Recast and met net income budget
  • Grew 365-day pipeline by 56% in six weeks and by 110% in six months
  • Cut product development spend in half while dramatically increasing new product output
  • Refocused product development efforts for better market-demand responsiveness

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Overview

  • Software/Technology
  • Interim Management