Teletron is a successful company Essay
Teletron is a successful company however the factors which are holding its growth are:
· The additional service for auditing at an additional charge which it focuses to provide to its consumers for maintaining a long term relationship with the client is an overhead and not many companies can afford and not looking forward to it. Auditing process is a labor intensive operation.
· The hiring of carriers for correcting the clients billing mistakes was quite demeaning to the company and many clients backed out form this offer from Teletron.
· The customer acquisition process is very expensive at the moment.
Teletron’s growth opportunities were in providing an all-round service facility for its clients to maintain the long term relationship and fulfill all the arising requirements of the businesses from time to time. A software would do the job to take care of the necessary auditing, save costs on auditing and acquisition and offer inventory and expense management.
The Virtual Analyzer software would take care to the fulfillment of the needs of the market and provide automated facilities for customer management and retaining them for a long time. It would generally take up invoice processing; invoice analyzing, change and modification in services, expense and inventory
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The additional information which would fasten up the process to make a final decision is the analytical nature of the software which finds usage data, service assessments, market comparisons with other companies, vendor analysis and risk management for its clients. All this features equipped would make the final decision really strong and fully judgmental.
The proposed change in business model is due to the fact that senior management requires a change and hiring of few new managers which would incur extra costs, secondly the software Virtual Analyzer would take huge money in its development and maintenance and thirdly the change in culture would incur a loss of morale to some people. Financially the expense is huge; however the tasks taken into effect would benefit them in the long run. As estimated the market will grow from 2million to 5 million, Teletron desires to capture 5% to make it 100 million revenue goal in the coming years.
Tim has received all information detailing market structure, growth opportunities and the software advantages. Tim must go forward to build the software with an outsourcing company so that they are able to put the software in the place to capture the growing market segment and manage the acquisition and maintenance of long term relationship with the clients. He must incorporate the proposed business model to avail future benefits.
In the presentation, Tim must prepare to present the following details:
· Company standing and pitfalls must be presented with a positive tongue to analyze the needs of the hour
· Customer feedback and complications
· Need of the software and its features: The Virtual Analyzer software comes in the picture which must be explained to the board to convince them of the idea to invest on it.
· Change in business culture: This must be influenced with management trainings and hiring greater skill and expertise
· Financial budget and the proposed returns on investment
The final presentation would discuss the above bulleted points and would feature the overall standing at present with the focused objectives after incorporating the change in management style and building of the software.
References / Bibliography
Teletron inc. Using information technology to transform a company – Case study.