In your view, what should be the goal(s) of any channel partnership at this stage of the business? Please be specific and indicate how GC or BW does or does not help Oversight achieve those goals.
- The goal of any channel partnership like Oversight at this stage of the business should be financial sustainability of the business, expansion of the business and sustaining the growth of the company.
- At this point of time and standing at the start of 2016, the growth of the company is high as shown in the analysis below:
|2015||Q2||Q3||Q4||Average Growth||2016||Q2||Q3||Q4||Average Growth|
|Deals Booked||33.33%||62.50%||-7.69%||29.38%||Deals Booked||17.39%||22.22%||18.18%||19.27%|
|IOD Bookings||51.34%||84.96%||23.29%||53.19%||IOD Bookings||20.21%||20.40%||20.74%||20.45%|
|IOD Revenue||21.64%||14.11%||36.29%||24.01%||IOD Revenue||25.06%||23.54%||22.96%||23.85%|
|YOY Growth||5.50%||4.00%||4.60%||4.70%||YOY Growth||1.80%||2.20%||2.40%||2.13%|
- Therefore, Oversight needs to form a channel partnership with GC as recommended previously.
- Partnership with GC would enable Oversight to partner with a global brand of a much larger size than the other brands it is associated with currently.
- This partnership would boost the revenues of the business and expand the size of Oversight by increasing its exposure to the 2000 customers of GC.
- High support was provided by GC to Oversight under the proposal therefore, this partnership would yield much higher benefits for Oversight.
- The analytical capabilities and customized offerings of Oversight would fill in the gap for GC and it would provide Oversight and GC both to upsell to their existing clients.
What aspects of the buying and selling process for Oversightâ€™s IOD products are relevant in evaluating potential channel partners as well as the specific terms and conditions of a partnership?
- There are several factors and terms that are relevant in the buying and selling process for Oversight IOD products to be sold to the channel partners.
- The first most important factor is the pricing of the contract. Oversight CCM contracts cost $200,000 to $500,000 per year per business process monitored and included a subscription software license plus professional services to build out custom analytics. The client needs to subscribe for atleast $ 50,000 per year in advance, for monthly runs of the analytics.
- The overall corporate card and spending program is another important factor and it needs to be compatible with the platform of Oversight.
- Customers, generally paid within six months to a year for the cost of the IOD and this was also a set standard in the buying and selling process.
- The company formed partnerships with clients that had sales cycles of at least 9 months or often more than a year.
- The company formed partnership with those partners that provided enough time for training, implementation and testing of the IOD and also 30 daysâ€™ time for coordinating with the IT department of the new client for transferring the transaction data.
- All these aspects were highly important for Oversight before forming a new partnership…………….
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