The purpose of this doc is to give the team and stakeholders a succinct view on the problem space.

This document is intended to be complementary to our overall strategy, positioning, competitive and other documents. We should assume those are known, and only put in this document what is specific or different about this problem space.

Briefly confirm the strategic alignment and if this project falls into one of the strategic initiatives

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Yes, aligned with overall strategy.

• Short description of the segment

• Can we make an Ideal Customer Profile (ICP)?

• Are the customer roles different from our over-arching ones (check here)?

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Focus customer of the initiative is stage agencies.

"State agencies" refers to government departments, offices, or organizations at the state level, rather than the federal or local levels.

What problem do we solve? See if we have answers for these topics / questions:

• Unmet needs - succinct description

  • When there is no problem, it is highly unlikely that there is a business

  • Try to describe the needs in terms of jobs the customer needs to do (Job-To-Be-Done) format.

  • Pains / Gains (try to use bullet points)

• Existing alternatives - if applicable, and why they fail to deliver a solution

• Why does the customer have to solve the problem now? Is there an urgent reason-to-act?

• Is this problem at scale or local/trivial?

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Unmet needs:

• Comprehensive Compliance Coverage

State agencies must adhere to a wide array of regulations across different domains. A common unmet need is a centralized solution that can map and manage all the diverse compliance requirements a state agency needs to adhere to efficiently.

• Up-to-date Regulatory Information

Regulations frequently change. State agencies need a tool that provides real-time updates on regulatory changes to ensure continuous compliance.

Why UCF is better or worse positioned to solve the need

Why would we not be well positioned?

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Reputation in the industry for part of the unmet needs

We are known in the compliance industry for compliance mapping

Proven expertise in mapping

Existing references across industry

Leverage of partners / GTM with strong existing presence in target market

Our solution will be encapsulated in a larger offering from ServiceNow, which has strong presence in the market:

• about 40 of 50 states are a ServiceNow customer

  • Do we know how many agencies?

• 20-30% of states are TemplarShield customers

Why would we not be well positioned?

We do not have an existing footprint

We do not have direct access to the end-customers

• Do we have validation of the needs?

  • Beyond internal conversations, discussions with partners and friends.

  • Customer discovery interviews

    • real customers, face-to-face

• Industry stats?

  • e.g. research reports, general industry numbers,…

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Use high-level descriptions of capabilities, use bullets, this is not PRD phase

• Outline of key capabilities to address the unmet need (not technical)

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• Regulatory updates (real- or near-time)

• Requirement Identification (Documents and mandates within documents)

• Requirement comparison, consolidation, and differentiation

  • Common controls mapping (customizable) specific to state agencies

    • Customization and scalability: allow for unique compliance requirement needs

• Integration capabilities: GRCs,… (maybe one ?)

• More:

  • Audit questions

@sonny - How do we envision delivery? Are there online marketplaces or so that we have to get the content pack on? Or customers comes to our site and signs up?

What is defensibly unique about our capability <> unmet needs set?

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Total Addressable Market (TAM)

The whole universe of state agencies who experience this need.

Serviceable Available Market (SAM)

The part of this market that we can realistically reach and convert in a medium- to long-term.

Serviceable Obtainable Market (SOM)

What can we realistically capture of this market in 18-24 months after solution launch? What are our beach-heads? Taking into account our

• Competitive advantage

• Current market penetration of competitors

• Our marketing and sales teams' need for time to reach the customers in (pre-)buying mode

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TAM:

The average number of agencies per state is 150. Which more or less would bring us to 7,500 potential customers in this initiative.

SAM:

If we assume that we can close 2% of that business that is 3 deals per state. Not accounting for a price increase that is 3 agencies x 50 states = 150 CCH Accounts. 150 accounts x $10,000 = $1.5M annually

SOM: ?

ToDO still - some rough estimates on timelines for a revenue sequence:

These bits of info might help us to get clarity

• when are states renewing the contracts - EOY or throughout the year

  • no set date - dates are unique to customer

• are these multi-year contracts

  • mix - ServiceNow leaning to 3-yr contracts

• which ServiceNow contracts are how many are up for renewal this year

• ramp-up: when we have the mapping ready, what are our next steps in sales

  • proposal decision cycle: how long

    • 30 -60 days on average

  • is there a testing period from partner side

    • no

Early adopters & how to reach them:

• Strategy: Top-down or bottom-up (see here)

• Marketing channels

  • Which ones and why are they the best to reach this SOM?

• Budget:

  • Do we need funds to spend on marketing?

  • Estimate for CAC in this market

• Sales execution

  • Strategy direct or partner-led

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This is a partner-led play.

No marketing budget is asked currently.

The initiative would need support from marketing with supporting basic webpages

Strategy to scale-up

Infliction point when to switch

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• Value & pricing model

  • Do we offer identical pricing and model as for other customers?

• What is the expected revenue of our SOM?

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Our solution is part of larger compliance deals that ServiceNow delivers to the state agencies.

We currently decided to move forward with our standard pricing.

If we don't have any, that is ok, don't invent any.

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If we don't have any, that is ok, don't invent any.

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• No clearance needed at State level, clearance would be at federal level