The Analysis Of MAQ Software Company
MAQ Software is a software services company which caters to top Fortune 500 companies in US and India. They have ventured into Data Management, Data analysis, custom visual reporting and development domains. Recently they have also focused on research and development in the fields of Artificial Intelligence and Machine Learning.
Power BI is a business intelligence software tool used to depict large volumes of information in the form of graphs, charts and numerous other infographics. It has a separate visual store where custom visuals can be developed as per needs of the project. MAQ Software has ventured into this opportunity and has been able to mark its place as one of the largest custom visual producing Microsoft counterparts.
The I.T Service
Industry IT services industry faces a massive reorganization today. The key factors driving it are:
IT services companies are being asked to switch to on-demand pricing model from the previous fixed price, time-and-effort models.
Unemployment is going to be real unless people update their skill Set with new skills such as data engineering and building platforms.
Example-Shoppers Stop has pumped Rs 60 crore in its IT infrastructure over the past two years to make it agile and future-ready. It expects at least 20% of its revenues to come from cloud based engagement in 2years. (IT services, n.d.)Anil Shankar, VP–Solutions and Technology, Shoppers Stop, says, “The changes over the last two years have been faster than in the previous 25 years. To win the consumer today, you need digital experiences integrated into all channels.”
Currently a small team of 15 people is implementing the makeover earlier service providers would have assigned at least 75 people for a project of this size. Even legacy on premise solutions will be rapidly automated leaving the service providers with a lot of redundant man power.
The slow reinvention in the IT industry: Competition
How are Infosys and Wipro, the bedrock of Indian IT industry which employs more than 10 million people directly and indirectly, adjusting with the changing realities? The entire business model of IT service providers is rapidly changing on one end of the spectrum are traditional clients who outsource the maintenance of their entire IT infrastructure including applications whereas on the other end we have platform based giants like Microsoft, Adobe, Oracle, Google etc. which use It service providers as partners to help in the implementation of projects.
The future of IT service providers will depend on the strategies of these giants. Indian It service providers are also trying to cash in on the success of these companies by building their own platforms. Infosys which has acquired 6 different companies in past 3 years has recently launched its AI platform Nia. (IT services, n.d.)Thus It service providers are transforming themselves slowly and steadily although the old business model of application development and maintenance, which still constitutes 85 percent of the revenues will continue to drive the revenues of IT companies but over the next decade when enterprises go for a hybrid model, where cloud applications and legacy applications will interact with each other, the consumer facing applications, in retail centres, such as dealer management systems and PoS systems will move to the cloud. Further giants like TCS, Wipro, Infosys, Cognizant, Accenture are already established players with their client bases and lot of projects go to them primarily because they are already handling a piece of their existing business. Further all these companies have a huge employee base bringing in diverse set of skills equipped with handling almost any kind of project .Thus for company like MAQ software uniqueness is of utmost importance in order to grow in this segment.
Description of the segment
The segment MAQ software specializes in is B2B clients in Software and Data Solutions. The clients of MAQ software are from strong economies. More than 90% of the clients served by MAQ software are and web service companies based in the United States. The companies served are high end players in the software business which have been in operation for more than 20 years. The client organizations are financially strong with large working capital having IT driven power structure. The clients deal in B2B as well as B2C business.
Customer
Current and prospective MAQ software has a pool of clients who need such software and since remaining clients share similar business decision making processes, they can be converted into paid customers for this service. Innovators - This set comprises of companies who have already shown interest and need to buy such product. Early adopters - Companies who have not shown interest but are clients of MAQ Software E.g. T Mobile, VCA etc., Early majority - Companies where decisions involve heavy data crunching E.g. Mu-sigma, Fractal analytics etc., Late majority - Companies who are using Data Management Software and CMS
Customer Value
MAQ software is one the leading IT service provider company in India which has an expertise in Data Management, Power BI, Cloud services and App development. It serves many among the Fortune 500 companies including Google, Amazon, Microsoft with agile engineering practices. We serve customers in industries including technology, retail, energy, and healthcare. MAQ software has developed products like Power BI which helps the travelling company to get the best possible route for flying, till now they rely on traffic control departments and a lot of resources are put in into that. It’s a real time data collection and KPI making software which directs the user. Company’s analysis can be done by creating a Power BI report that pulls data from a large data source and compiles it into interactive visuals on a publicly accessible website.
This helps the user to get the comparative report in the best possible way and derive conclusions from it. It saves a lot of time for a lot of companies to separately write code for it. Application Lifecycle Toolkit simplifies the work to be done in the stage of releasing the software. It allows the user to parallel change the code in the repository which can be deployed to the customer needs directly. Currently there is no such software to do so. Cloud data security is one of USP of the MAQ product as there most of the data is generated and stored using Cloud services it ensured that the data remains secure and intact.
Value Proposition
The USP of the company is their custom Power BI visuals. MAQ Software has created over 20 percent of custom visuals available on Microsoft AppSource. Data Insights is a custom Power BI by MAQ Software allows users to view data in multiple formats and quickly narrow data results. Users can switch between horizontal bar, vertical bar, brick, or tabular formats. With Data Insights, users can easily explore data, select specific data, and view selected data in the format that best fits individual business needs. Similarly, there are other Power BIs by MAQ which makes it a unique proposition offered exclusively by MAQ. Today’s world is data driven; data analytics is the future of all businesses. The custom visuals are in great demand and MAQ Software with this as its USP has a lot of scope in the business
New Product
Lean Business focuses on cutting indirect processes to increase productivity; presentations are an important means of communication. An effective presentation increases the probability of successful deals and in analytics of marketing even if we have well analyzed data and not an effective presentation of the data the analysis can go to waste. For adding to their efficiency companies are seeking a product which would analyze the data and at the same time provide a “Do it Yourself” method to make presentations at the same time. MAQ already has it Power BI visuals, if integrated with a ‘Presenter’ it will create huge business for MAQ and at the same time create an important value for its customers. The product we are proposing is a ‘Presenter’ which would analyze the data, create the visuals and give a step by step process to make the presentation. The users need not to own soft skill in coding or analytics.
Pricing Strategy
- Bundled model: For current MAQ clients Software cost would be added in the invoice as a part of service delivery
- Software as a Service Model For prospective MAQ Clients Slabs of annual subscription charges with prices varying as per usage of softwar
Segmentation, Targeting and Positioning
- Segment of Market Geography– Companies located in Western part of world & Indian companies Type - Data driven companies Stage – Early stage, maturity & late maturity companies
- Targeting Segments where hierarchy in roles exists Companies which have high number stakeholders responsible decision-making process (High number of stakeholders, greater need of data, reporting & presentations) Companies with diversified portfolio and multinational presence
- Positioning Data reporting tool for mid senior level managers DIY (Do it Yourself) tool with no analytical & coding skill required
