Switching from a hardware to a software business model: the case of the World’s leading provider of digital solutions for the energy industry
Along with the Executive Committee and Marketing and R&D experts, Stim has built the mid-term strategy with new offers to be launched on the European market. Challenged by the evolving demand of the specifications from their clients and low-cost offers from new entrants from emerging countries (China and India), our client counted on this strategy to explore and test new business models and breakthrough technologies.
Design and test new technological solutions and disruptive business models
Acknowledging the risk of disruption from new players from emerging markets during the last five years, the company’s Executive Committee, however, struggled to align on an effective strategy. The Strategy director called Stim to explore new business models and technologies that could be original enough to face this challenge, and at the same time, could be launched on the market in the three years to come.
A full spectrum strategy: from three new concepts for future offers to an appropriate innovation organisation setup
Working with the Strategy team and the company’s experts, Stim proposed a mid-term strategy focusing on two axes :
Creating a roadmap of new technologies and their associated business models to be explored that would enable our client to reach 80% less costly solutions, using our C-K Method
Coaching and organising the internal innovation team to explore, test and launch these solutions on the market based on our program Virtual Startup
In five months, three new technology and business concepts for future offers of the company have been identified. Stim also integrated several startup methodologies to investigate the potentials of these concepts at optimal cost and high velocity, while setting up an appropriate organisation (team composition, piloting routines, evaluation metrics…) to enable a fast progression of the projects.
The Executive Committee of the company has now decided to deploy a platform-based business model that sells software as a service, on top of primary yet high-quality hardware.