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Case Study: Embracing SaaS

DOCOsoft

Dublin, Ireland

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DOCOsoft is a leading player in the insurtech sector, delivering solutions that automate the claims management processes for insurance and reinsurance companies across the globe. In the London market alone, DOCOsoft’s solutions are trusted to handle claims for more than a third of the Lloyd’s market.
 
DOCOsoft’s solutions streamline the claims management process helping its clients reimburse policyholders quickly and efficiently, reducing claims-handling times by up to 50%. DOCOsoft’s advanced analytics capabilities provide insights that help insurers streamline processes, reduce fraud and gain competitive advantage.

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SaaS Business Model Transition

DOCOsoft’s solutions have traditionally been deployed on-premise, running on insurance companies’ own IT infrastructure. Responding to an evolving technology landscape and changing client needs, DOCOsoft is introducing a Software as a Service (SaaS) delivery model to help customers further reduce their IT cost and risk, focus on their core business, improve global scalability, and achieve a faster roll-out.
 
SaaS represents a fundamental shift in business model for any software company. As the business evolves from "product vendor" to "service provider", many of the pillars underpinning its business model inevitably change including the value proposition, cost base, revenue model, support model and pricing.
 
SaaS drives fundamental changes in the technical implementation. At a minimum, organisations can expect to re-engineer 10-20% of their code - more, if they are undertaking ground-up app modernisation.

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Aitheria Partners Engagement

Aitheria Partners ran a series of workshops with multiple functions across the DOCOsoft team, analysing and assessing the different areas of impact in adopting a SaaS Model.  We reviewed the Solution Architecture with the technology team. Business Model elements like value proposition, cost model and pricing were analysed in detail with leaders across the organisation.

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Value Analysis

SaaS adds value by reducing the client's infrastructure costs, integration effort, release management and testing.

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Clarity on the value proposition is an essential input to product positioning, sales and marketing efforts, and to the pricing model.  

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Cost Model

A deep understanding of costs - and how they scale as we provide more service - enables us to optimise costs, meet profitability targets and manage financial risk.

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We used the Aitheria Partners SaaS Cost Framework to give a deep understanding of the various factors driving DOCOsoft’s underlying costs.

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Pricing Model

We used the Aitheria Partners Pricing Framework to quantify value delivered, examine total cost of ownership (TCO), identify suitable pricing unit candidates to be modelled, and identify the right pricing tiers across different customer segments.

Outcomes

Team Alignment

Clarity on the implications for SaaS across each function (Product Management, Sales, Marketing, Finance, Engineering, Support, PMO, Operations, etc.).

Clarity on Value

A detailed Value Proposition Canvass detailing the enhanced customer value introduced by offering SaaS to DOCOsoft’s customers.

Pricing Framework

Framework includes Pricing Principles, Governance, Pricing Structure & Tiers and Pricing Unit Candidates for modelling - to support a tiered pricing structure for customer segments. 

Action Plan

Comprehensive Action Plan to address the changes required across the organisation, including identifying substantial external funding to offset implementation costs.

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Matt Tarnawsky

Head of Product, DOCOsoft

“The guidance we got from Aitheria Partners was hugely informative, helping us ensure a structured, planned approach that supports each function across DOCOsoft as we make the transition to SaaS.”
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Aidan O’Neill

CEO, DOCOsoft

“DOCOsoft has always been about innovation. SaaS will help us deliver more value, faster, to our customers on a global scale. The work done by Aitheria Partners has helped us accelerate our work in this area, deepening our understanding of SaaS and the value it offers.”

Deirdre Lennon

PMO Manager, DOCOsoft

"We really appreciated the advice and insights from Aitheria Partners across the various aspects of SaaS. Patrick helped guide us on the journey, leveraging the DOCOsoft team’s expertise through a series of workshops, to create a document that brings together the various aspects of analysis completed to date on the pricing for DOCOsoft’s new Vew SaaS service."

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+353 87 963 5000

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