It has been a while since we last published a Yonder Talks video. In this new release Daniel Lar, Managing Director of Yonder, and Remus Pereni, CTO of Yonder discuss the challenges that vertical market software (VMS) companies face.
In the past, changes evolved more gradually, and it was easier to keep up with market demand. Nowadays there are multiple factors responsible for shortening the time in which VMS companies must change and update their market offering.
Technologies affect the speed whereby change occurs. This phenomenon is brought about by the new technological advantages, new deployment opportunities, high-security levels as well as the end customers’ expectations and needs that require VMS companies to change.
European decentralizations, budget restraints and the need for increased efficiency starting with the enterprise end users has an impact on the speed of change and has made VMS companies more creative in meeting these challenges.
In some markets, VMS companies deal with a massive amount of data which is not easily replicated. Having competitors entering the market by starting at the backend is, therefore, less likely. However, competition does come from another angle: user experience. It is healthy for players to innovate and broaden their customer base continuously.
Customer attrition is a challenge that VMS companies face. Now the battle with the competition is not fought on the number of features, but on the emotion that users experience in working with the solution.
So how do you deal with these challenges and changes? What is a way to turn these into opportunities? Daniel and Remus offer some ideas in part one of the video: lean, agile, focus on the customer, power to move fast in a market where changes happen rapidly. You need flexibility in your team, insights into new technologies, prioritization, and work in shorter cycles to deliver more quickly to your market. Watch the video and find out all the details.
Daniel Lar and Remus Pereni
Interested in discussing this further? Drop us a line, and we will get back to you.
Can’t wait for part two? Then click here and watch that video.