Periodic Reporting for period 1 - YesElf (We help employees to adopt digital solutions)
Okres sprawozdawczy: 2019-08-01 do 2020-01-31
Only in the EU, about 26 million active companies employing about 144 million employees invest billions of euros per year in the onboarding process (training and support activities) and most of the companies are being digitally transformed. But being a digital organization means not only having digital products, services, and customer interactions but also needs a digital culture - which means proper mindset, expert network, and digital onboarding and training programs. By ignoring culture, an organization risks transformation failure and indeed that’s why almost 75% of the digital transformations fail. According to a Gartner study, 30% of tech jobs will be unfilled owing to digital talent shortfalls. According to recent BCG research even today, the biggest perceived technology challenge is not data security but a lack of qualified employees - only 25% of the digitally skilled people found in online recruiting databases today are working at large enterprises
YesElf is a digital adoption platform for providing a personalized and predictive step-by-step walkthrough for any enterprise software which makes employees more productive (+37%) without any additional personal training at the right time by applying artificial intelligence and user behavior analysis.
Based on customer feedback our solution can reduce employee training costs by more than 50%, reduce support costs by more than 30%, increase employee productivity by double-digit number, provide smooth digital adoption and increase company income per employee.
YesElf is a digital adoption platform for providing a personalized and predictive step-by-step walkthrough for any enterprise software which makes employees more productive (+37%) without any additional personal training at the right time by applying artificial intelligence and user behavior analysis.
Based on customer feedback our solution can reduce employee training costs by more than 50%, reduce support costs by more than 30%, increase employee productivity by double-digit number, provide smooth digital adoption and increase company income per employee.
Our main objective of the feasibility study was to prove technical, commercial and financial feasibility for a successful introduction of new products in global markets and prepare necessary conditions for scaling up. Actions were executed in 3 areas:
1. Technical aspects. Fulfilling the security standards (OWASP), repetitive execution of penetration tests provided by independent 3rd party security experts and adaptation of the product in order to match the criteria. Technical integration into SAP software solution including the sample content
2. Commercial aspects. Assessment of commercial viability and market report – analysis of the situation in the DACH market and detailed market segmentation. Competitors evaluation and identification of a unique value proposition. Identification of major enterprise solutions used in EU countries - we have validated many market research in this field and we questioned many of the companies in order to identify the top 20 software solutions used within the enterprises. Evaluation of the business model and pricing strategy - validation with consultants and investors in order to find the best business model for expansion. Communication with potential and existing customers in order to get feedback about product utilization, possible improvements or suggestions. We have received many valuable inputs that were already implemented in the product or planned in our product backlog. Preparation of investors communication strategy and pitch deck - we dramatically improved our pitch deck, presentation, strategy and improve our investment attractiveness
3. Financial aspects. Updating and detailing the business, financial and investment plan for the following 5 years including a detailed breakdown of the costs for the next 18 months.
1. Technical aspects. Fulfilling the security standards (OWASP), repetitive execution of penetration tests provided by independent 3rd party security experts and adaptation of the product in order to match the criteria. Technical integration into SAP software solution including the sample content
2. Commercial aspects. Assessment of commercial viability and market report – analysis of the situation in the DACH market and detailed market segmentation. Competitors evaluation and identification of a unique value proposition. Identification of major enterprise solutions used in EU countries - we have validated many market research in this field and we questioned many of the companies in order to identify the top 20 software solutions used within the enterprises. Evaluation of the business model and pricing strategy - validation with consultants and investors in order to find the best business model for expansion. Communication with potential and existing customers in order to get feedback about product utilization, possible improvements or suggestions. We have received many valuable inputs that were already implemented in the product or planned in our product backlog. Preparation of investors communication strategy and pitch deck - we dramatically improved our pitch deck, presentation, strategy and improve our investment attractiveness
3. Financial aspects. Updating and detailing the business, financial and investment plan for the following 5 years including a detailed breakdown of the costs for the next 18 months.
The project has great potential and should definitely continue but some points of strategic vision have changed or evolved.
We redefined our target roles in the company that leads to changed communication and marketing strategy because the benefits should be communicated differently. Based on this, we have to adapt the content of the website and existing PR materials.
We also expanded our regional focus. After the discussions and validation of the market, we still consider original focus as the proper one but we added other very potential countries to our focus area where we expect faster sales cycles there.
We were focused on various acquisition channels in the past, where the main focus was to direct sales activities. During the execution of the feasibility study, we identified the partnership as a priority from the scaling and expansion point of view, because it allows us to reach many new customers also internationally with much faster acquisition times and shorter sales cycles. This strategy should speed up dramatically the expansion process and we already validated this strategy with a couple of partners that successfully offers YesElf. ai to the customers.
We defined also the scalable sales strategy on an account level and defined a way, how to monetize existing customers multiple times, that can dramatically increase our ARPA and MRR
We redefined our target roles in the company that leads to changed communication and marketing strategy because the benefits should be communicated differently. Based on this, we have to adapt the content of the website and existing PR materials.
We also expanded our regional focus. After the discussions and validation of the market, we still consider original focus as the proper one but we added other very potential countries to our focus area where we expect faster sales cycles there.
We were focused on various acquisition channels in the past, where the main focus was to direct sales activities. During the execution of the feasibility study, we identified the partnership as a priority from the scaling and expansion point of view, because it allows us to reach many new customers also internationally with much faster acquisition times and shorter sales cycles. This strategy should speed up dramatically the expansion process and we already validated this strategy with a couple of partners that successfully offers YesElf. ai to the customers.
We defined also the scalable sales strategy on an account level and defined a way, how to monetize existing customers multiple times, that can dramatically increase our ARPA and MRR