Simplified Product Licensing
Simplified Product Licensing | TalentWise
Software licensing at TalentWise was overly complicated. Licensing each SaaS solutions as an individual point product made deployment challenging, created billing and contract challenges, and was adversely impacting the scalability of the business.
Over six months, we interviewed existing customers, completed a win/loss analysis, researched competitive pricing, and deployed a test program with simplified product licensing. What used to be dozens of individual licenses was distilled into four possible platforms, eliminating the point solution model. The three-month pilot program confirmed that the new models would improve all aspects of the business.
Sales and customers embraced the simplified structure, and SaaS bookings increased over 300% in the first year, and another 80% in year two. Annual reoccurring revenue retention for top customers rose to 99%, and MMR grew at a torrid 40% year-over-year pace.
Additionally, new features were added to the platform licenses, extending the value proposition to their existing customers. TalentWise went on to be acquired in a Goldman Sachs backed merger.