Business Model

Go-to-market model

Trifork’s go-to-market model is based on the three subsegments, Inspire, Build and Run, which we consider to be the three phases of our relationship with each customer. The go-to-market model is designed to ensure that our customers are at the center of all activities carried out by Trifork, and Trifork maintains a strong customer relationship throughout the software development journey. At each phase of the go-to-market model, we validate ideas, concepts and products against customer needs and the business value that such ideas, concepts and products represent. This go-to-market model is vital to Trifork’s success as it provides the right know-how and enables us to be close to and drive innovation.

Inspire

The aim of the Inspire phase of our go-to-market model is to enable the creation of ideas. The Inspire phase can be broken down into two parts. The first part revolves around the GOTO brand and includes our conference activities. The conferences are a source of inspiration for both customers and our colleagues and serve as a customer acqui- sition channel. GOTO conferences are en- terprise software development conferences, hosted by us as developers and intended for team leaders, software developers, architects and project managers. The ambition of each GOTO conference is to facilitate the best content, on the most important technology topics, presented by thought leaders in the fields of software development and technological innovation. The main objective of the GOTO conferences is to foster inspiration and provide an opportunity for validation and feedback on new technology ideas. In addition, the GOTO concept is an effective way to promote the Trifork brand and identify potential new customers or colleagues. The second part of the Inspire phase, delivered by the Trifork Design Thinking teams, is tied to specific customers and serves as a bridge to the Build phase. This part of the Inspire phase includes specialized workshops designed to help customers refine and deliver innovative digital solutions and concepts. We inspire and build prototype software solutions in these workshops based on a design thinking approach – an approach that emphasizes system design. The entire design thinking approach focuses on small scale testing of solutions and the continuous refinement of a prototype.

Build

As the Build phase usually takes place after the Inspire workshops, where we have already developed a functioning prototype or at least a strategic roadmap together with the customer, we are often asked to develop a fully featured solution. We estimate that the conversion rate from customer-specific Inspire workshops through to the Build phase has been approximately 70% in the last two years.

Based on the ideas generated in the Inspire process, we then help our customers bring new ideas to production by developing software solutions using next-gen technologies. This is done in the Build phase of the go-to-market model. Build is most often carried out in the form of development “sprints”, through an agile “Scrum” development process. The “Scrum” framework for software development includes frequent customer touch-points and a series of smaller development phases to ensure that development is constantly refined and that all parties involved in the development process are aligned on shared goals. Each small development phase is known as a sprint and each sprint typically lasts two to four weeks. At the end of each sprint, our teams present the outcomes of the sprint to the customer to validate the developed functionality. We then set new goals with the customer for the following sprint. These sprints continue throughout the execution phase and conclude with the finalization of the product. We believe that an agile software development process is instrumental for developing novel solutions, applying next-gen technology and an effective means of meeting customer expectations and reducing development risks.

Working closely with the customer, we develop tailor-made software solutions, that often include standard components, open source components and Trifork-owned components. The agile nature of the work process enables us to deliver bespoke software and fully functional systems in three to six months. We offer product development solutions, mobile first solutions, SAP solutions, design and migration as well as cloud-based operations, everything with a high focus on design and user experience.

Run

Once the Build phase has been completed and a solution implemented, Trifork also offers service agreements where we operate the product solution. When operating ser- vice agreements, we continuously update and upgrade our customers’ platforms with the newest technology, keeping the solutions up to date. This to us is recurring business with our customers and keeps us very close to them. We also offer to operate and host our customers’ private, public or hybrid cloud systems.

The products that we develop are typically designed to be agnostic between public and private clouds, ensuring a high degree of flexibility for our customers.

Trifork has established recognized re-seller relationships/strategic partnerships with all the major global public cloud platforms including Google Cloud, Amazon Web Services and Microsoft Azure. In 2021 we have established a Tier 4 datacenter in Switzerland and built a new modern datacenter in Denmark.

When a particular concept has been implemented a number of times for different customers, it becomes a candidate for Trifork’s standard product portfolio. Initially we sometimes hold the IP rights for such concepts/products and other times our customers initially have the IP and then we later negotiate the IP back to Trifork when this makes sense to both the customer and Trifork. In general, the revenue potential from Run grows as the number of such commod- itized software products grows. Our mort- gage dead administration system Panteos is an example of such a software product.

Business Areas

Trifork delivers its services across three distinct verticals (FinTech, Digital Health and Smart Building) and three megatrend-driven horizontals (Smart Enterprise, Cyber Protection and Cloud Operation).

Where the verticals are focused on specific markets/domains, the horizon- tals are more agnostic to the markets and support both the vertical markets as well as other markets.

In the verticals we have deep domain knowledge, and in the horizontals, Trifork has attracted some of the best talent in the industry.

In all business areas, we are creat- ing solutions and concepts for our customers and support them on an ongoing basis.