Geometric

Introduction:

With over 20 years of developing manufacturing and engineering solutions, Geometric has quickly become a leader in the product lifecycle management (PLM) industry. This cost effective engineering solutions provider, based out of India, provides its customers with the complete package; from conceptualization through prototyping and manufacturing support. Their solutions span the entire product realization value chain, covering engineering services, engineering IT solutions, and technologies for engineering efficiencies. Geometric has extensive experience in product engineering, manufacturing engineering, PLM, and outsourced product development (OPD). Geometric focuses in the following industries: Aerospace & Defense, Automotive, Apparel, Heavy Engineering, High‐tech, Machine Tool, Medical Imaging, Off‐ highway, Oil & Gas, and Software. Geometric has yearly revenue of $150M and partner with companies such as Microsoft and Oracle.

Geometric’s new software, The DFM Pro (Design for Manufacturing) is a CAD integrated tool which allows for upfront design for manufacturing and produce‐ability validation and provides suggestions to avoid issues that impact quality, cost, and product launch time. This enables organizations to increase productivity, cost savings, improve quality, and it has the ability to capture and reuse knowledge.

Challenge:

Geometric faced significant challenges with their plans to successfully launch the DFM software, a new product designed for manufacturability that focused on complex problems. Their primary challenge was introducing the DFM Pro to the North American market. This was difficult, as it was not easy to position a product that the Engineering and Manufacturing industry had never seen before. Additionally, it would be hard for Geometric, a company headquartered in India, to enter the North American market with significant enough presence to capture new major accounts.

Geometric needed to successfully introduce their product and gain market share in North America. They needed to rapidly generate revenue streams, new customers and develop a qualified pipeline of real sales opportunities for DFM Pro. With limited sales and business development resources and little knowledge of the North American market, Geometric needed to present their solution to key players and develop major new accounts. They needed to employ a strategic program that would optimize their efforts and allow their sales team to be more productive. Geometric wanted to establish ample market presence in the North American market and develop a steady stream of high quality sales opportunities, in order to increase sales pipeline and accelerate revenue growth.

Solution:

Geometric chose VizQuest to help them address these challenges to achieve their goals through their proprietary New Product Introduction program, which accelerated the adoption of the DFM Pro in the North American market. The program implemented VizQuest’s flagship New Product Introduction (NPI) processes and Revenue Factory Model to rapidly identify, engage, qualify and capture accounts. VizQuest collaborated with Geometric to identify target markets and strategic account focus for the VizQuest team to penetrate and capture. They utilized their NPI experience, referral network, and sales experts to capture new customers, develop opportunities, close sales for the DFM Pro. The program gave Geometric new revenue streams, faster time to market and profitability, reduced break even time, and minimized capital burn.

VizQuest contacted and set up presentations with companies in the Heavy Equipment, Automotive, Aircraft and Injection Modeling industries. They leveraged their extensive referral network in North America and got Geometric in front of several key players who had a need for their software solution. VizQuest developed a stream of high quality opportunities that Geometric capitalized on. Responsible for follow‐up and the entire sales process, VizQuest created and sustained a new pipeline in the North American market. Once the DFM Pro was introduced to the North American market, VizQuest drove revenue and pipeline growth significantly, aiming to solidify the longevity of Geometrics’ presence in the market.

Results:

In 6‐months, VizQuest created $2.8M of new revenue and sales pipeline for Geometric. VizQuest developed new deals and the creation of a multimillion dollar pipeline, with major accounts such as Case New Holland, Lear, and Mabe. Geometric saw a significant increase in revenue and outreach activity in regards to their new product. The company has also experienced increase name recognition amongst prospective buyers in target markets. DFM Pro has successfully been adopted by major accounts in the North American market and continues to grow business.

Leave a Reply

Your email address will not be published. Required fields are marked *