API - Case Study

Background

API Software are the authors of the leading financial reconciliation software AutoRek and AutoRek associated Financial Management Solutions.

AutoRek is used by many of the world’s leading banks, hedge funds, leasing companies and asset managers. In addition it is used to assist the financial departments of Fortune 500 companies in the areas of Cash Allocation and Invoice Processing Processes. A typical ROI (Return On Investment) is achieved within 9 months.


Problems

  • Although successful (particularly within the financial sector) with the AutoRek solution the company wished more aggressive growth within the UK and Internationally.
  • The Company wished to increase their R & D efforts but were unsure of the correct direction.
  • The Company wished to see more quality leads coming through from their marketing spend.
  • The Company wished to develop a Channel Strategy - If possible this should be Global

Solutions

  • Working continually with the Board and Management Team of API since 2008 Market Transformations jointly created a programme that has involved Market Research, Sales Strategy, Channel Strategy, and R & D.
  • This involved a very much “hands on” execution of the business plan. With Market Transformations actively involved in the selling process.
  • Market Transformations delivered significant Market Research in key areas of interest to the company. Sometimes this delivered results indicating that there was NO market opportunity.
  • Market Transformations-working with the Marketing Department- developed a very successful Internet and Digital Marketing Strategy combined with a PR strategy - to deliver the quality leads required by the Company.
  • Market Transformations -working with the marketing department - helped set up a AutoRek User Group.
  • Market Transformations - working with the Sales Department - set up Sales Training Programmes and Channel Programmes.

Outcomes

  • The new sales and marketing strategy has assisted deliver the increase in quality leads that consequently has seen increased sales of AutoRek of over 400% .
  • Company turnover - and more important profitability - has increased to record levels at the end of FY 2011 (Feb).
  • The Channel Strategy has added a dedicated and ambitious US partner who are in the top 50 Global Companies in the Fortune 500.
  • This Partner has already delivered to API significant revenues and given the company the global presence of their ambitions.
  • This bodes well for significant global growth for the company and in addition further global partnerships are due to begin.
  • Research has identified further areas of significant growth and - perhaps more importantly - areas of decline or insignificant growth and opportunity.
  • As a result of the success of this project Market Transformations received a large bonus in recognition of their valuable contribution.