This is kind of the reverse of a repeatable business process. But it’s helpful to be aware of as a point of potential value that Iguana can create.
Matt Dyer of Vyne Medical talks directly to this point. He maps out that the fact that Iguana as tool makes it possible to combine together several of their solutions together to form a unique solution for a particular customer that is willing to pay a lot of money for it.
I think this scenario is repeatable for the following underlying economic reasons:
There are some very very big organizations which have unique needs for which there are not any ‘off the shelf’ solutions. This can be described as a ‘thin market’ problem. i.e. a market for which there is a need but the need is only met by one or two huge organizations - so it is a very risky market to develop a product for. For instance a large government department like the CRA of Canada that would have some unique needs.
On the vendor side there are lots of companies which have been built through the acquisition game which means that they have a set of technology products which are built with different technology, by different teams for different purposes - but don’t form a single ‘integrated’ solution.
So very large buyers of solutions are willing to consider doing business with a vendor that is able to glue together a number of their products to produce a unique solution to their needs.
The above are very common in the healthcare market.