Enterprise risk management and decision support systems can incorporate a wide range of services, software, and information vendor offerings. Some of the diverse vendor types that either fully or partially contribute to ERM systems and decision processes include:
Your organization offers enterprises more efficient ways to integrate risk considerations with business objectives and decision processes. Sometimes regulations and industry standards force certain risk management practices onto your customers, but others may not be so open to your solutions. They often have doubts and organizational obstacles to overcome before accepting the potential benefits and ROI of your offerings.
In addition to the challenges posed by wary prospects, you face an expanding set of competitors that are quickly leveraging the latest technology advances while integrating new risk data sources with their growing offering portfolios. Your competitive strategy must include targeting new market segments where you have a competitive advantage building both revenue and profits.
Beyond customer and competitive dynamics, your success is influenced by the marketplace perception of the changing risk environment and your ability to help manage the variety, volume, velocity, volatility, and vitality of the risk events your customers will face. You also must constantly be aware of the pressures asserted by third-party influencers such as government regulators, ratings agencies, litigators, associations, standards organizations, and the media.
Vendor organizations strive to efficiently build profitable offering portfolios that serve changing customer needs. Some of the roles that help determine, build, sell, deliver, and refine offerings for your target customers, and other roles that ensure competitive success, include the following:
When you need to build or expand your offering portfolio, revenue opportunities, or competitive positioning, some of your questions may include:
IMT's custom research services tackle your market, customer, and competitive challenges by carefully considering your key questions, the stakeholders involved, and what specific actionable information we can research and deliver to address your portfolio strategy, business development, sales support, and marketing support needs.
Our engagement process emphasizes clear communication throughout the project, beginning with the framing of important market parameters and definitions and ending with the delivery of the research findings, analysis, and conclusions to your stakeholders and decision makers.
We combine the depth of our market knowledge and experience with a range of primary market research and secondary research methods to determine the most effective approach for obtaining and delivering the specific information you need. While we can consider any challenge, many vendor research and advisory interests can be categorized into one of the following ten project types:
Market opportunity analysis is a necessary component of your business plan for assessing specific target markets, setting sales goals, and reaching your market potential. We will work with you to establish clear market definitions and criteria before integrating demand-side, supply-side, and economic trend analysis to build your custom market size and forecasting models. Market segmentation considerations can include parameters such as product and service offerings, geography, industry, and enterprise size.
Development of your offering portfolio and the expansion of your target market segments require voice of the customer, and voice of the prospect, research and analysis. Our target market analysis projects include the selection of the most efficient primary and secondary methods to research the features, functions, and value that your customers and prospects are seeking. Our win-loss analysis projects focus on your marketing and sales teams' interests in understanding the experiences and perceptions of both new customers and lost prospects. Competitor value comparisons can be included based on the ability to obtain customer participation.
When your service or product development team is creating a new offering, they may want to test the concept in the early, mid, and/or late stage of its development cycle. We can research prospect reactions and feedback for (1) early stage concepts to round out desired features and functions, (2) mid-stage concept development to refine features and functions, and (3) late-stage offering development for value message testing and setting marketing strategy.
ROI analysis on risk-related solutions is unique in that it goes beyond the usual assessment of savings on organizational resource and process costs. When you need to prove the likely return on your product or service offering using real world market data, we can conduct quantitative and qualitative analysis of the experiences of enterprise customers to support your case. Operational cost considerations are just the starting point from our perspective.
When you have reached the limits of your own resources and expertise when addressing customer requirements for holistic risk management solutions, partnerships offer one path to new growth opportunities. We can support your partnership compatibility analysis by assessing your portfolios for complimentary, overlapping, and missing offerings in light of our risk management market taxonomy. Projects can focus on specific company analysis or a range of vendors providing risk management services, risk management software, decision support software, or risk data and information.
You must continuously improve your competitive positioning using competitive intelligence. We can help by assessing the service, software, and/or information product offerings of competing decision support and risk management companies. Our competitive landscape analysis includes scoring offering capabilities, strengths, weaknesses, opportunities, and threats (SWOT), and value comparisons among competing vendors. Market share analysis can be added in association with market models and forecasting projects.
Increase your prospect's comfort and confidence in your solutions by highlighting the experiences of their peers and industry trends. IMT's marketing support services include researching and authoring case studies highlighting the challenges and successes individual enterprises experience when building risk-informed decision-making processes. Our marketing deliverables include thought-provoking white papers, eBooks, infographics and other visual media to add to your marketing and media kits. Whether IMT-branded for third-party objectivity or ghost-written for your marketing and sales teams, all analytical conclusions in IMT publications must uphold high standards for objectivity.
Have you saturated your target markets or do you find it more difficult to maintain market share with growing competition? Is your portfolio structure entrenched and too internally focused? Our external perspective can objectively review your portfolio to identify strategic development options to extend your revenue potential. Using our research and market taxonomy, we will suggest ways to both broaden and specialize your offerings to appeal to new customer segments.
Your sales team is well versed in the features and functions of your offerings, but can they comfortably state the advantages and value you provide over your competitors? Can they explain how your offerings are at the forefront of current risk management trends? We can bundle a marketing and sales support package of market data, competitive vendor analysis, and value statements for an arsenal of responses to prospect questions.
When you have reached the limits of your own resources and expertise when addressing customer requirements for holistic risk management solutions, acquisitions offer a more permanent and riskier path than partnerships. We can offer support using the same offering portfolio analysis as our partnership compatibility projects plus additional analysis of current and potential customer base differentials. We can offer our perspective on the incremental clients that can be gained in the near term and longer term given enterprise management trends and resource spending directions.
Share your key questions and concerns as you consider expanding your customer base and/or your portfolio of service, software or information offerings that support risk-aware enterprise decision making in pursuit of corporate objectives.
We will arrange a free consultation to share our initial advice and offer ways we could provide more specific answers and support with our custom research, sales support, and advisory services.
Our blog title urges the demise of business decision making based on static assumptions. Corporate objectives and decision making should be grounded in risk management principles bolstered by technology advances, real-time information sources, and analytics in today's dynamic business environment. Read our market insights and opinions on current management trends and vendors advancing the science of decision making to achieve corporate objectives.
The IMT Library includes complimentary Perspectives and premium Reports with market research and business trend analysis of