1. Technical project plan follows the logic of moving from front-end (applications) to core (algorithms) to back-end (platform) ensuring system agility, scalability, upgrading, connection to real time data providers and fulfilling the functional requirements of the verticals in validation and demo. We will build a sales partner network, create awareness about BX, acquire customers, knowledge and sales partners and prepare for the international launch. The total cost of the project is €2.68 million. We also analysed the technical risks and defined mitigation strategies.
2. We carried out a market study of the telematics market and drilled down to each business vertical. We re-defined our business model, go-to-market and internationalization strategy based on the analysis. Our FtO confirmed freedom to operate in target markets. We analysed barriers and drivers for all verticals as well as carried out a commercial and financial risk analysis defining mitigation strategies.
3. Partnership agreements – we defined the extent of the need for external parties needed for the development project in algorithm development, cloud migration and security testing. We have updated the list of potential knowledge partners and sales partners. Additionally, we carried out a survey in feed, retail & food and industrial gases verticals in order to understand their functional requirements to the platform that differ from the Oil & Gas vertical.
4. We re-defined our financial plan, updated sales prices and revenue scheme and defined country specific sales goals and investment need.
5. All the above was concluded into a business plan
