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Software product fell behind competitors and is losing market share

A software product was obsolete and revenue was declining steeply, the product was slated for “End of Life.” The estimate for modernizing the product was 5 years of effort.

 

Exiting customers only required support for Microsoft .Net to continue using the product. A management change invested the engineering team in focusing on that single revenue feature and the feature was available in 9 months.

 

The .Net version was released as a “new product” at a much higher price, avoiding existing support agreements for “free upgrades”. Customers now had an option that was competitive with the cost of migrating off of the product at a lower opportunity cost.

 

The revenue decline turned around, new customers were added. The product team had new license sales for the first time in many years and introduced tiered support pricing to all customers, maximizing profit on support.

 

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