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Repositioning of Saperion AG

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In May 2005 the Saperion AG, a €14 M revenue Berlin based document management software company, found itself in an unanticipated cash shortage. With no clear positioning, a weak customer value proposition and no growth strategy at all, the company was unable to perform and behind on most metrics.

 

The Challenge

2i international was engaged by the company´s investors (3i, Viewpoint Capital and Berlin Capital Fund) to develop and anchor a compelling positioning combined with an appropriate growth strategy. Since the company was in the need of short term financing, we only had three months to drive and implement all change initiatives and get the company executing again.

 

Key Highlights of the Business Value Delivered

  • 2i international set up and executed a restructuring plan with 15 major change projects.
  • We streamlined responsibilities and competencies together with a reorganization of most business units.
  • We resumed several interim management positions (CFO, Product Manager and Project Office).
  • 2i international recruited employees for the following positions: CEO, Head of Professional Services and Head of Product Management.
  • 2i international renegotiated all compensation packages and increased the focus on performance.
  • Implementation of new controlling system enabling reliable forecasts and transparent management by numbers with clear targets.
  • 2i international established a new sales controlling, updated the sales pipeline and drove sales execution.
  • We increased transparency and knowledge sharing within the organization and thereby accelerated business operations.
  • 2i international established product management as a key driver within the organization and executed a clear product and precise development roadmap.
  • Establishment of strong quality assurance process for all software products.
  • We introduced an appropriate “Go-to-market” strategy with a clear positioning for the company focusing on three verticals and increased target customer focus.
  • Improvement of partnerships and international alliances by introducing new partner programs and trainings.

 

Results

  • The company was 14,2% above 6 months sales forecast of €7,6 M.
  • International revenues were up 50% and service revenues rose 40% above budget.
  • Hard- and software COGS were reduced by 35% and marketing spending was cut by 15%.
  • With the cash-flow €1 M above forecast, the financial situation was improved and stable.
  • The new software releases were developed on time and with improved quality, thus regaining customers, partners and investors trust in the company.
  • The company was performing again and 2i international handed over to a new CEO.
  • In August 2013 SAPERION AG has been acquired by Lexmark International Inc. for a cash purchase price of approximately $ 72 million.