DECIDEA – One Step closer to the Digitalization of the Law and Tax Sector
Wintersemester 2020 - DECIDEA – nea new reality KG
With a predicted market value of $138.3 billion by 2022 the SaaS (software as a service) industry is demonstrating a huge potential for companies. By offering a software which enables law and tax firms to structure their information as decision trees, conditional lists or data bases, DECIDEA is one of the potential beneficiaries having the dream of the modernization of the daily life of lawyers and tax accountants.
Our project partner developed a fully functional platform prior to our first meeting. They had a special interest in an appropriate business model for this cloud-based platform, including questions about whom to offer the product to, price determination, research on the target market, etc. Hence, the goal was to write a complete and comprehensive business plan with special focus on a business model. In the course of this, we have been able to find answers to our project partners questions.
To gain information about the field of application, the possible benefits of the platform and attractiveness of the software, we conducted 9 interviews with experts in legal, tax and process optimization. These precious inputs helped us finding the optimal target market for DECIDEA and through them the idea of the marketplace was elaborated. Furthermore, a survey, regarding the usefulness of the platform and the reservation price for the subscriptions, was sent out to 610 attorneys, law experts and companies in the DACH region. In addition, we conducted web research for the market and competitor analysis.
In the course of the expert interviews, we learned that the legal and tax industry would make an ideal target group. Through our survey, we were able to gain insights into the interests and the willingness to pay of the customers. It turned out that the willingness to pay varied greatly, which led us to the conclusion that it would be best to negotiate prices individually with each customer. Through a competitor analysis we also found out that there are already a few competitors offering similar services. Therefore, we designed the marketplace, which should provide a USP in order to stand out from the competition.
DECIDEA – nea new reality KG
Mariahilfer Straße 107/10
Adnan Dzanovic, Johannes Robert Daxeder, Dominik Dorner, Gabriel Exel, Gabriel Kefer, Maximilian Niedermeyer
Erik Kommol, M.Sc.
Klaus Marhold, Ph.D.