Product Development Team Hires Consultant for Market Research
Case Study: Product Development Team Hires Consultant for Market Research
A traditional approach to new acquisition and market analysis can be costly — it requires significant upfront investment without a guarantee of returns. It’s no surprise that DFC Global Corp., which manages 1000 retail locations and a handful of digital brands, hesitated when they spotted high-risk opportunities to expand the reach of their non-traditional financial products.
The product development team struggled to prioritize speculative analysis and market research, which required expertise and bandwidth beyond their capability. Traditional boutique consultants took too much time to manage for mediocre results. Hiring new team members raised the risk level unnecessarily — who wants to lay someone off if a high-risk acquisition fails?
Nick Bosch, the Director of Global Product Development & Management at DFC, took an out-of-the-box approach to assess a possible acquisition in Canada. He supplemented in-house talent with an independent consultant he found through Catalant’s platform, who was perfectly positioned to analyze the opportunity.
Our consultant’s expertise, which he was able to bring to the table, was actually the difference between success and failure”Nick Bosch, Director of Global Product Development & Management
Company Size: 6,600 employees
Industry: Financial Services
Speculative Analysis of Acquisition Opportunities
Bosch says of the project, “I needed a quick and thoughtful review, and I received a thoroughly researched, exceptionally considered and complete analysis. Our independent expert was able to take my vague direction and provide surprising layers of depth.”
Hiring an independent contractor through Catalant’s platform enabled Bosch to augment his team, scaling up quickly without distracting from his core management responsibilities. The team transcended their financial and personnel limitations with a newfound agility. “We can test out things pretty quickly without having to take on additional headcount — it de-risks the every potential opportunity,” says Bosch.
DFC’s product development has continued to work with industry experts through the platform — not only because of the exemplary results — but because of the ease of the process. With traditional consulting companies, Bosch spent an undue amount of time directing the project. But Catalant’s independent contractors self-manage, taking the reigns and delivering stellar results.
I don’t have to babysit consultants from Catalant”Nick Bosch, Director of Global Product Development & Management
Bosch’s experience had such an impact, he created a personal account and helped a friend use the on-demand workforce management system to test a new business idea. “It far exceeded my friend’s expectations for what the quality can be on a platform — the results are pretty extraordinary.”
Continuing to expand DFC’s global reach may seem daunting, but with Catalant’s industry experts, the company can invest in strategic opportunities while minimizing risk.