Phronesis executes deep dive market analysis for a premier US-based Intelligent Automation (IA) solutions provider
Phronesis conducted a comprehensive market penetration analysis for a leading US-based Intelligent Automation (IA) solutions provider to support the tech firm’s market expansion strategy. Through primary research and in-depth interviews with senior IT and IA decision-makers, Phronesis identified critical market insights, including IA adoption trends and opportunities, which reshaped the client’s business strategy. This enabled the client to make informed decisions to achieve significant business growth, including developing tailored solutions to target niche industries effectively.
A leading US-based robotic process automation (RPA) provider, with a global presence, over $500 million USD in revenue, and over 2000 professional employees, sought to refine its strategy to achieve market expansion.
Challenge
The company wanted to identify the top three business units and technologies driving demand for IA systems (including AI, ML, RPA) within large US organizations to refine its products and increase market share.
Objectives
The RPA provider wanted to:
- Assess deployment rates and investment trends in automation technologies and services, including AI, ML, and NLP in the top 3 industries.
- Identify key IA use cases and projected adoption plans.
- Evaluate current and future IA expenditure and measure ROI.
- Address challenges in AI technology adoption and improve implementation efficiency.
- Promote no code/low code applications to citizen developers.
Why Phronesis?
Our experienced team were able to provide the automation solution provider with:
- Expert interviewers with a background in automation and AI.
- Access to an extensive network of subject matter experts.
- Expertise in accessing and engaging hard-to-reach audiences.
- Experience in conducting competitive intelligence and in-depth interviews to capture quality insights.
Approach
Phronesis conducted primary research to identify the top 5 industries using IA, and engaged senior decision-makers responsible for selecting business process automation software products and services. Competitive intelligence tactics informed strategic questioning during in-depth interviews, designed to uncover essential insights aligned with project objectives.
Results
Our research revealed critical insights that reshaped the IA company’s go-to-market market strategy, including:
- Industries with highest IA adoption: Manufacturing, CPG, and Banking.
- Primary business units using IA technology: Customer Service, HR, and Finance.
- Top three automation technologies: AI, RPA, and NLP.
- Significant correlation between IA scale and organizational size: over 50% of respondents scaling enterprise-wide IA have revenues over 1 billion USD, and employ 3000-5000 personnel.
- Average IA implementation budget: 10% of annual revenue, with plans for at least a 5% increase.
- Biggest challenges to IA adoption: skills gaps, legacy systems integration, awareness of IA.
Impact
The RPA solutions provider immediately integrated the research findings into its business plans, optimizing delivery strategies and prioritizing the top three in-demand IA technologies. The research also identified the top three business functions and industries for the sales team to prioritize to increase sales conversion rates, and introduced bundled services and training, to address the identified challenges:
- Deployment rates and investment trends in automation technologies, including AI, ML, and NLP across the top three industries.
- Key IA use cases and projected adoption plans.
- Current and future IA expenditure.
- Measurement and tracking of IA investment ROI.
- Challenges associated with AI technology adoption.
- Enhancement of automation implementation efficiency.
Outcome
Phronesis’s qualitative research provided invaluable insights, enabling the client to refine its strategy, capitalize on market opportunities, and achieve substantial growth in the competitive IA landscape.
