Amdocs, a well-established company, had built its reputation as a leading provider of OSS/BSS, networking, quality assurance, and billing services for telecommunications companies. While maintaining a strong presence in these verticals, Amdocs recognized the potential for growth by venturing into new markets that aligned with their existing customer base.

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Problem Statement

Amdocs identified the need to diversify its business lines to foster growth within its current customer base and attract new clientele. With many of their customers venturing into the streaming video industry, Amdocs recognized the potential in this market. However, they faced a challenge in lacking the necessary expertise to formulate a comprehensive business plan and strategy for entering the streaming video market successfully.

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Solution

I was brought on board as a technical expert to provide valuable consultation and insights for Amdocs as they explored potential market entry strategies. As part of a small, specialized team with deep expertise in the streaming delivery industry, our primary objective was to develop a range of viable business plan options. These options would serve as a foundation for Amdocs' management to assess and make informed investment decisions. During our research and analysis, we uncovered a total of 10 concrete ideas, which included new product concepts built upon Amdocs' existing technology, identified acquisition targets, and potential talent "acquihire" scenarios. In addition to researching acquisition targets, I collaborated with Amdocs' product managers and architects to co-design several innovative product ideas. Our collective efforts aimed to provide Amdocs with a comprehensive set of strategic choices for market entry.

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Ultimately, Amdocs executed several strategic acquisitions based on our recommendations, which significantly contributed to their expansion in the streaming media market. Two notable acquisitions were Vubiquity and UXP Systems. Vubiquity, a provider of content library data services with a global clientele, brought a substantial customer base and a consistent revenue stream to Amdocs. Meanwhile, UXP Systems offered identity management and IoT services, enabling centralized identity management for mobile network and streaming service applications.

Additionally, Amdocs acquired Vindicia, a company specializing in subscription billing services for media companies, with a strong international presence. These acquisitions strategically bolstered Amdocs' capabilities in the streaming media industry.

Furthermore, I emphasized the importance of internal investment in enhancing Amdocs' data and AI capabilities. This investment allowed Amdocs to offer new services in advertising and consumer marketing, complementing their existing product portfolio. As a result, Amdocs successfully navigated the challenges of entering the streaming media space, focusing on profitability and sustainability. The recommendations and insights provided by my team played a pivotal role in Amdocs' achievements in this market.

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Challenges

Business development is an exhilarating journey that allows for both creative business and technical thinking. However, it's important to acknowledge that it can also be a challenging process, especially when it involves evaluating and discarding promising ideas. During our exploration phase, we received input from many talented individuals, each offering valuable insights.

Despite the enthusiasm surrounding these ideas, we recognized the need to apply statistical rigor to assess potential growth scenarios. This rigorous approach required us to make difficult decisions, leading us to discard nearly two dozen great ideas. It's worth noting that some of these concepts had been meticulously researched and had garnered significant time and energy investments.

In hindsight, we realized that improving our system for evaluating constraints or seeking input from key executives earlier in the process could have helped us identify the reasons for rejecting certain ideas sooner. However, it's important to highlight that setbacks and idea rejections ultimately became valuable learning experiences. They allowed us to pivot, adapt, and apply the knowledge gained to a new round of ideation, which ultimately led to positive outcomes. This iterative approach to problem-solving is an essential aspect of business development.