Periodic Reporting for period 1 - INVENTIA (INVENTIA SOLUTION DEVELOPMENT MARKET PENETRATION)
Reporting period: 2015-12-01 to 2016-05-31
The feasibility study includes a review of the business plan that presents results and shows targets and financial needs.
Due to the advanced level of the technological readiness of our Solution (TRL 8 or 9 with respect to countries/sectors), the company team is focusing on the marketing development and market research: during the first part of the feasibility study the internal team structured the research defining objectives, methodology, market segments and priorities. Regarding the new product for SMEs, the internal software development team has worked on technical estimates of workload, timing and costs. The team also worked on the preliminary phase of the IPR study with the support of an experienced and well known IPR law firm.
The business plan model has been structured in order to collect data and show expected trends and needs.
The Business as usual is proceeding well, according to the 2016 business plan. The number of customers and business partners (IT & System Integrators) has increased and the company is also working on some high potential POC (proof of concept) in different sectors: Insurance, Banking and Telco.
The company R&D department is continuously releasing improved versions of the software platform with additional features, in order to increase the competitive advantage.
The following effects could be envisaged:
• Customer Engagement Improvement means better relationship between the brand and the customer “Customers who are fully engaged represent an average 23% premium in terms of share of wallet, profitability, revenue and relationship growth compared with the average customer.”(Gallup State of the American Consumer 2014)
• Smoothing of the digital commerce divide is possible as well. Inventia allows people with low digital education to join the ""digital community"" with the help and collaboration provided by an operator .
• Compliance of the Digital Strategy to Market/Sector Regulation can be improved thanks to a set of instruments and the human collaborations of the operator provided by Inventia. This will help the opening of digital/online channels in sectors that, at the moment, benefit to a very limited extent from digital economy (one above all, healthcare and telemedicine) or that see a limited potential of digital channels when compliancy requirements cannot be matched in the traditional self provisioning use of the web (e.g. opening a bank account or make an identification)
• The productivity ""unleashed"" by Inventia solutions can give new energy, without increasing costs, to the retail strategy of companies positioned in declining or low growth markets with a crucial focus on productivity
• A relevant gender improvement can be taken into account: even if digital interfaces to consumers become more and more user friendly, still now a very large population group (between 50 and 65 Yo) have a minor familiarity with digital processes. Inventia Connect improves the digital experience and allows this group of people to make a complete use of processes thanks to the support of a remote human operator