“VizQuest was the “secret weapon” that drove our solution into critical new markets; we could not have been successful without them. They were an integral part of our team, focused on new business capture. I strongly recommend using VizQuest for new business development”
‐ James Rose, Vice President of Sales and Business Development, OEConnection
OEConnection is a leading software technology company in the midst of both domestic and international expansion. Their technology provides a better way to manage a supply chain for original equipment (OE) replacement parts. Thanks to extensive experience with web‐based technology, OEC has a deep understanding of business needs and is especially qualified to provide a unique end‐to‐end solution for their customers. Using the latest technology, they have built industry‐leading solutions that are fast, accurate and easy to use. OEConnection was a joint‐venture of Ford, GM and Chrysler created to develop a replacement parts management solution for the auto industry to supply parts to dealers more efficiently.
OEConnection wanted to break out and enter new industries in order to increase their sales pipeline. OEC had been active in the Automobile industry for quite some time, but they struggled to penetrate the Heavy Equipment, Truck, and Recreational Vehicle markets. OEC was stuck in the classic “innovator’s dilemma”; they were consumed with selling and servicing into their one strong market, Automotive. Their sales team struggled to refocus these efforts into new markets, as it did not have the bandwidth, support focus, or proper resources to do so.
They needed to establish visibility within these markets to new clients with a need for their parts management software solutions, in order to develop new major accounts. For their expansion to be successful, OEC needed to generate a stream of high-quality opportunities that their sales team could capitalize on. With a lack of internal sales and business development resources, support focus, and bandwidth, OEC needed to develop a strategic process to penetrate new industries in order to engage new accounts and increase their pipeline.
OEConnection chose VizQuest to help them address these challenges. VizQuest implemented their proprietary New Product Introduction program, which accelerated the adoption of the OEC’s solution in these new markets. The program employed VizQuest’s flagship New Product Introduction (NPI) processes and Revenue Factory Model to rapidly identify, engage, qualify and capture accounts. VizQuest collaborated with OEConnection to identify target industries 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, and close sales. The program gave OEConnection new revenue streams, faster time to market and profitability, reduced break-even time and minimized capital burn. Customer surveys and interviews were executed to determine the needs and requirements of Heavy Equipment, Truck, and Recreational Vehicle companies.
The program targeted and engaged with key heavy equipment manufacturers outside of the Automobile industry that could utilize OEC’s specialized parts management software. VizQuest made discoveries about key accounts in each industry in order to fulfill their specific needs with OEC’s proprietary software. They discovered that the heavy equipment industry behaves like the automotive, but at a typically smaller scale and with fewer dealers and distributors. Once informed of key information and engaged with the right manufacturers, VizQuest delivered a new value proposition, focusing on addressing the manufacturer’s specific needs. Once market presence was established, VizQuest delivered a steady stream of high-quality opportunities for OEC to capitalize on, leading to an increased pipeline and accelerated revenue growth outside of the Automobile industry.
VizQuest generated 65 VSOs in 6‐months with a pipeline value of $48.6M in new business. VizQuest in collaboration with OEC was able to break into market leaders in Heavy Equipment, Truck, and Recreational Vehicles, including Volvo Truck, Caterpillar, CNH, John Deere, Harley Davidson, Bombardier, and Polaris. VizQuest engaged all of the relevant heavy equipment manufacturers and developed an understanding of after‐market parts management of the respective companies. They established OEC’s value‐proposition with key players in Parts Management, Supply Chain, and Service.