The Business: SORCE, a Newbury based award winning intranet software supplier, delivers flexible solutions that support supplier engagement and streamline business processes.
The Challenge: SORCE had invested to migrate from providing software as a product to a software as a service (SaaS) model. SORCE was looking to capitalise on this investment as the company scaled up.
Support Delivered: Initially VitalSix ran a workshop for the senior management team using the Business Model Canvas strategic management tool. This helped crystalise the current business model and shape the development of a new one. The visual chart articulated the company’s value proposition, infrastructure, customers and financial model. From the team’s collective focus, SORCE was able to identify and address some areas for improvement. John Nicklin, MD followed this up with attendance on the Berkshire Business Accelerator with all of his senior management team. At this three day course delivered in partnership with Henley Business School, the team could explore these areas in more detail and formulate strategies for future development and growth. Feedback from the course reinforced the point that the team found the introduction of new ideas and business frameworks particularly useful and benefited from time away from day to day operations in order to explore these in more detail.
Future Plans: The team is now better placed to confirm and implement future plans with the whole team and overall business sharing clear objectives, focus and priorities.
Quote: “I have been really pleased with the engagement with VitalSix, the knowledge they have and the manner in which they have supported us really worked, I wish we had met them years ago” John Nicklin - Managing Director
The Business: TrackerSense have developed an IoT based Logistics tracking product suite to cover both low volume, high value assets e.g. medical equipment, and high volume, low value e.g. pallets
The high value asset tracker is a battery powered GPS location tracker with optional temperature, humidity, light and other sensors which allow clients to see in real time the exact position, movement and condition of anything anywhere in the world. The trackers are simply switched on, placed in a package, or freight container and despatched. They immediately transmit their location and continue to do so for 45 days or more. Clients access reports via API or web and can see routes, delays, disturbance, temperature and other conditions.
For the high volume, low value assets, a Hub and Beacon solution has been developed. The hub and beacon trackers use GPS/RFID and Bluetooth and allow large volumes of assets to be tracked within defined areas and networks - think of a postal or carrier network involving multiple depots, retail customer sites and vehicles. A beacon is attached to each asset which transmits data via a hub to our servers at preset intervals when that asset moves. The client receives reports via a dashboard allowing them to locate and manage each individual asset and its environment.
The Challenge: Having successfully helped the entrepreneur to build and then exit a previous business we were contacted again to offer support with a new proposition and to assist with developing the business strategy, financial structures and raising money.
Support Delivered: Starting in 2014 and through the Thames Valley Local Enterprise Partnership Growth Hub project, support took the form of coaching, predominantly supporting development of financial forecasts and structures. The Growth Hub awarded a grant to assist with the development of the software and hardware and this was followed up with light touch guidance, in an advisory capacity. VitalSix’s continued connection to and understanding of the TrackerSense technology, meant that when an opportunity arose they were the first company introduced to Unipart as part of the corporate innovation project with VitalSix. The value that TrackerSense could bring was immediately recognised by the logistics company who introduced them to a major customer, and a paid pilot was initiated through this introduction. More recently, VitalSix has supported the TrackerSense application to raise funds to support the next phase of growth, via the Henley Business Angel network.
Future Plans: VitalSix have the knowledge and infrastructure to support the needs of high growth SME’s and will continue to support TrackerSense with their challenges, when required, as they continue to scale.
Quote: "As a startup in the Thames Valley area, VitalSix’s support has been instrumental in helping us move from an idea, to POC and finally commercialization. They were not only supportive in fund raising and corporate structure, but helped identify and introduce us to new clients too. It was so reassuring to have VitalSix on hand to support us every step of the journey". Wayne Soutter Director at TrackerSense.