Andrea Carr, Head of Research and Development at e4. (Image: e4)
In a competitive technology industry, companies are looking beyond traditional sales and marketing for growth. Expanding into new industries can offer technology providers new revenue streams as well as opportunities to leverage their core strengths across diverse markets. This approach, combined with a robust R&D function, means companies can stay agile, develop tailored solutions and tap into the ‘art of the possible’ for sustainable expansion.
For established technology specialist companies, the path to growth can be paved by applying existing solutions to industries that share similar needs but face unique challenges. Studies show that companies broadening their market reach with their existing offerings achieve growth rates 20%-30% higher than those who stay within a single vertical.
For e4, expanding into new industries has created meaningful avenues for growth by innovating around their proven capabilities, such as process automation, data management and compliance. “Our approach has been to leverage what we know works and adapt it to meet the unique needs of new markets,” explains Andrea Carr, Head of Research and Development at e4. “By refining our capabilities to fit various industries, we not only deliver immediate value to clients but also open doors to continuous innovation within those sectors.” This cross-industry strategy has positioned e4 as a versatile digital partner, capable of delivering tailored, scalable solutions that address the specific needs of each client.
The role of R&D in supporting business expansion
Research and development (R&D) is a critical piece of the sustainable growth puzzle for tech companies looking to explore new markets. By prioritising an agile R&D structure, companies can quickly adapt and build solutions for different sectors. According to Grant Thornton, companies with nimble R&D capabilities are more adept at responding to specific industry needs, which is a critical advantage for competitive positioning and customer retention in the digital ecosystem.
“At e4, the R&D team’s agile approach allows us to rapidly develop proof of concept (POC) solutions, allowing clients to test new processes in parallel with their existing systems,” says Carr. “This approach not only reduces risk but also provides data-backed proof of value, helping clients feel more comfortable with potential transitions.”
Integrated solutions as a growth accelerator
One of the most effective ways a tech company can achieve growth is through the strategic stacking and integration of its core capabilities. Many leading firms have found success by combining critical functions into offerings tailored for specific industry needs. This integrated approach has the advantage of driving growth while also making it possible for companies to build long-term relationships in new sectors. BCG Research suggests that technology firms deploying integrated, client-centred solutions see higher retention rates and customer satisfaction, as they demonstrate a comprehensive understanding of sector-specific needs.
Building value for new markets through data-driven insights
Carr says e4’s own commitment to data-driven decision-making supports its ability to expand into diverse business ecosystems where processes play a crucial role. By leveraging the insights gained through pilot runs, the R&D team can refine solutions, providing practical outcomes that address specific challenges like manual workflows, data inefficiencies and compliance needs. Adds Carr: “Our approach focuses on actionable data and process optimisation, which not only validates the value of our solutions but also ensures clients feel confident in adopting new, efficient ways of working. A data-led, tailored approach is instrumental in fostering client buy-in and has enabled e4 to develop scalable, industry-specific solutions that facilitate operational excellence across sectors.”
A strong emphasis on capability-driven solutions and a flexible R&D approach can unlock the art of the possible within the tech space. “When tech companies focus on advancing their offerings while remaining adaptable and maintaining a strong sense of client-centricity, they’re naturally better placed to keep pace with industry demands. R&D is a critical factor in seizing new market opportunities and creating value that extends beyond traditional industry limits,” notes Carr.
