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Nurego – BizOps Solution Monetizing Cloud-Native Products

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Nurego is headquartered and founded in Seattle. It is the digital BizOps (Business Operations) solution provider for Industrial IOT Cloud Service Providers (CSPs) with recurring and subscription revenue models. Nurego has accumulated vast experience in building and operating massive cloud businesses with subscription and recurring revenue models at EMC Corporation, including companies like VMware, Pivotal and Mozy. Below is our interview with Ervin Leibovici, Nurego’s CEO:

Ervin Leibovici, Nurego’s CEO

Q: How would you describe Nurego in your own words?

A: Nurego is the digital BizOps (Business Operations) solution provider for subscription-based, Industrial IOT Cloud Service Providers (CSPs). Our lean, agile and measurable BizOps solution untangles the complex and ever-changing, recurring revenue environment to expedite profitability in the challenging era of digital transformation. We harnesses the power of sophisticated Business Operations tools and analytics to reduce operational inefficiencies related to product launch and order-to-cash processes, accelerating time-to-value and directly impacting revenue creation and growth.

Our BizOps solution boosts agility through a build-measure-learn-adapt approach Business teams can effortlessly personalize, rollout, test and adjust every key component of their offering, without requiring a developer, to minimize insight-to-rollout cycles, quickly improve product-market fit and ensure customer engagement.

Once offering is launched, Nurego’s BizOps manages the subscription business with regard to who is entitled to what services and what needs to be done in order to maximize upselling opportunities and customer retention.

All through the way, we measure, measure, and measure everything from the services being used, to the revenue and the cost associated with providing these services, in order to alert and recommend actions that will influence the business results. Complete visibility into key commercial and operational metrics, costs and revenues helps business teams to manage the financial risk and profitability of every customer, segment and distribution channel.

This methodical and measurable approach to product and business model innovation, offers Cloud Service Providers reliable and consistent business performance insights. They can identify and tackle problems with revenue, costs and customer engagement sooner than later, while they can still act to favorably impact business results.

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Q: What is your core competence?

A: Nurego has accumulated vast experience in building and operating massive cloud-native products, with subscription-based business models at the EMC Corporation, including companies like VMware, Pivotal and Mozy. Through this experience, we realized that the world of cloud technology was not just about technology innovation. This new world also required us to retool our business operations to support the new subscription and recurring revenue models since our existing quote-to-cash processes and tools were inadequate. Through EMC’s numerous relationships with cloud (SaaS/PaaS/IaaS) companies, we also realized that we were not alone in dealing with this problem – every company with both traditional and cloud-native products relied heavily on developers and custom solutions to enable the transformation to a digital business. Nurego’s core solution leverages technology incubated at EMC and VMware as part of these subscription businesses.

Nurego BizOps integration with GE’s PredixTM, the cloud platform for the Industrial Internet, enabled us to tune our product to the needs of large Industrial IOT suppliers like GE. Our partnership with GE and other IoT ecosystem companies puts Nurego’s BizOps solution at the forefront of how leading IoT companies are building profitable and sustainable IoT businesses. Naturally, our clients benefit from this expertise, as we apply it directly to the products, algorithms, and ecosystem that we create, to make IoT monetization for cloud-native products simple, fast and profitable.

Nurego is headquartered and founded in Seattle, home of the cloud giants, Amazon and Microsoft. Our R&D is located near Tel-Aviv, leveraging its world-class software engineers and dominance in software R&D.

Q: What advantage does Nurego have over its competitors?

A: Nurego’s primary competition today tends to be internal IT and engineering teams that are tasked with BizOps enablement for the new cloud-native products. The teams frequently lack expertise in what it takes to build a profitable and sustainable business with cloud-native products and subscription business models, and many assume that the only “off-the-shelf” product they need is a “subscription billing” system. They also tend to be severely under-resourced, as they compete with the product engineering teams for developer resources. The result is frustrated product management and business teams that miss opportunities to take advantage of continuous product innovation and evolving market needs, because of their dependence on the engineering and IT groups.

Competing with homegrown and custom solutions is not a new phenomenon. Anyone with more than a decade of experience in the IT or telecom industry will be familiar with it. In the IT industry, the first off-the-shelf CRM and ERP systems were a competitive threat to the many homegrown and custom solutions running on mainframes. In the telecom industry, off-the-shelf business and operations support systems (BSS/OSS) also competed with and eventually replaced homegrown BSS/OSS. Indeed, Nurego is frequently referred as the “ERP for Cloud” and “BSS/OSS for Cloud”. We, therefore, believe that we’re in the early phases of a new market that has enormous potential.

We believe that we can thwart this competition by providing a comprehensive solution (to a complex problem) that automates the entire customer’s journey across the company, empowering the business teams to act with speed, measure with confidence, and scale their business with ease. And to do so in the spur of a moment, while avoiding constant internal fights for resources.

A key differentiator for Nurego is that many of us at Nurego have personally suffered from the lack of off-the-shelf BizOps solutions for cloud-native subscription businesses. We have built, tested and learned many hard and expensive lessons in previous lives, and are working hard at ensuring that the product we build and the expertise we hire will help our customers avoid the same pitfalls.

nurego-dashboard( Click to enlarge )

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Q: What were the main challenges you faced in developing the company?

A: The generic cloud business we support is growing very fast and covering most of the economic activities around us. The ongoing digital transformation has added urgency to the move towards cloud infrastructure and substantially extended the various markets we could target, so the decision of which market to focus on was not trivial and took some time. We have decided to focus on the Industrial IOT market given its magnitude, the urgency for transformation towards digitization, the relatively limited internal expertise in deploying cloud services and the typical C-level commitment to drive this change in an expedited manner, with the best available external experts.

We then proceeded to tune our product roadmap so that it addresses specific pain points in the chosen target market. It was not easy. The industrial IOT cloud analytics market was (and still is) very young and lacked the cloud business dynamics understanding, which typically drive requirements. We had to rely initially on our experience in building and operating multiple cloud businesses. We have been delivering for some time on our Business Operations (BizOps) roadmap and have a clear view going forward.

Lastly and probably most importantly, we invested a huge effort to seek and attract some of the best engineering and product people around, that play a huge role in converting a daring vision and a significant technical challenge into real and unique value for our customers.

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Q: What can we expect from Nurego in next six months?

A: Our focus remains on quickly adding real value in the much needed area of enabling successful cloud businesses in the Industrial Internet segment. We look forward to a continued expansion of our BizOps offerings to adjacent areas that support cloud businesses expansion. For example, one area that we are evaluating is sales enablement tools that will allow the sales force of industrial enterprises to easily sell the cloud services together with their traditional products. In light of the growing interest from various customers and partners, as well as investors, we must ensure our focus remains razor sharp on steady expansion of the value we offer to the largest industrial customers in the world.

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