Payments Co. New Venture
Payments Co. is a multinational billion dollar payments technology company, facilitating electronic funds worldwide via credit cards, debit cards and more
Year
2021 - 2022
Category
B2B Payments Technology
Type of Work
Customer Experience Research
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Product Design
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Marketing Testing​
Payments Co. tasked us with standing up an internal startup incubator, and pitching the first new venture.
In Phase 1, the first 3 months, we focused on market-opportunity selection and customer experience research. We discovered that the manufacturing industry had the most pain points in sourcing, vetting, and paying suppliers.
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In phase 2, the next 3 months, we focused on venture design, including product design and marketing testing. We designed and iterated upon SupplierVue, a search engine and communication portal designed to help buyers and suppliers find each other, no matter how complex the manufacturing project.
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phase 1
market-opportunity selection
In Phase 1, the first 3 months, was market strategy and customer experience focused:
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Which industries and users have the most painful existing payments processes?
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How big are these markets and user bases?
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Outside of payments, what parts of the overall sourcing process are painful?
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Where Payments Co. could leverage their historical experience in the industry for impact?
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Through stakeholder interviews, market scans, and customer experience journey-mapping, we discovered that the manufacturing industry had the most pain points in sourcing, vetting, and paying suppliers. Imagine how difficult it is as Boeing, to find the perfect supplier for a new top-of-the-line airplane wing.
Most importantly, we discovered that Payments Co. had an opportunity to expand along that payments value chain and insert themselves earlier in the customer experience.
phase 2
market-opportunity selection
In phase 2, the next 3 months, we focused on venture design.
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How can we alleviate critical pain points on the current buyer / supplier discovery process?
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Can we improve sourcing by meshing a "Google"-like search engine, with "Yelp"-style reviews, and manufacturing industry portal expertise?
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What data artifacts do customers monitor when selecting a buyer or supplier, and how do we make those easier to share?​
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We conducted moderated user research, unmoderated product testing, industry customer surveys, conducted competitive landscape analysis, startup product analysis, opportunity analysis, and more — the final product was SupplierVue, the first venture pitched to the incubator board.
Unmoderated user research with lo-fi wireframes
