Mission 2026

Our north star metric is a way to bring focus to a single guiding goal that reflects how our customers get value from GlobalVision. Driving the number of files inspected higher is a leading indicator of our long term success on our mission. There is no target - our goal is to drive this as high as possible.

Definition: The number of unique files inspected

• Unique: one file (or set) counts for '1' regardless of the number of times inspected. If a user runs a text inspection and then a graphics inspection on a file set, it will be counted as 1 inspection.

• Files: Either a single file or a file set for comparison, regardless of file type.

• Inspected: any type of processing that GlobalVision performs (eg. barcode, OCR, etc). Combo inspections (text+spell, graphics+barcode) are treated equal to single inspections. Any future type of file processing will be included in this usage definition.

Current limitations

• Verify only: We have easy access to Verify in Domo, but this will be expanded to all GlobalVision products soon (except offline GVD licenses and Rcount)

• Not unique: Files inspected twice is currently counted twice

Revenue and *Operating Efficiency past and projections

*Operating efficiency is measured as total revenue less operating expenses, divided by total revenue. Operating expenses do not include interest, taxes, depreciation, amortization, or expenses not part of the normal course of business.

Current state of goals - Q1 2024

• Number of customers @ $500k ARR USD = 1 (Merck)

• Median Tenure = 2.2 years

• eNPS = 63

• Full-time GlobalVisionaries (excluding interns) = 116

Understanding our markets
We aim to be the clear market leader for quality control across the entire digital and printed asset development stream. In the first part of the stream, we target the ‘upstream’ Brands customers in the life-sciences industry (Pharmaceutical, CPG) because they are regulated by government agencies, so they need to maintain a high-quality standard and proofread everything they release. In the second part of the stream, we target the ‘downstream’ Suppliers companies (Agencies, Print & Packaging) who produce content for Brands.

We are already market-leading in the Suppliers market, whereas the Brands market is our big bet.

Learn more: Our Customers' Process

Current performance & future opportunity

We believe it is reasonable to capture 10% of the market as we are currently at 1.1% or $13M USD of a $1.2B USD Total Addressable Market (TAM). Therefore, the $30M USD by 2026 is attainable and achievable.

Here is the zoomed-in version of GVs Q1 2023 ARR:

1. Refine Verify into a product customers love and trust

We need to rethink how a user can always be successful regardless of the results. Verify will become a flexible tool which enables users to accelerate their proofreading workflow, rather than a rigid viewer of automated inspection results.

2. Expand our value offering by launching a pure automation product

In our mission of automating the proofreading function, our goal is to minimize the time users spend in our systems. Customers who want to invest in process automation should be able to run inspections without opening our UI. This is targeted as a tool for the administrator instead of the company.

3. Experiment with AI to leapfrog progress on our mission

We will dedicate time to explicitly experiment with AI tools to see what roadmap bets we can solve with AI. See AI strategy for more details.

4. Solve proofreading beyond comparison with single-page insights

Today we do not solve the full scope of our users' proofreading jobs since users still need to manually proofread even in the optimal usage of GlobalVision. If we have the capacity, we will experiment with new technologies that compare the initial version of a document against a set of standards like FDA regulatory requirements or internal brand guidelines.

2023

1. Rebuild all Core Technologies from scratch done

Our long-term competitive advantage relies on the performance of our algorithms. We have the biggest opportunity to save time for our customers if we improve text and graphics inspections.

Learn more: Core Tech Vision

2. Focus Product Development on Verify done

Learn more: Product Development Focus 2023

3. Invest in integration partnerships to be embedded in customer workflows deprioritize

GlobalVision is the tool, not the system; our products are only a tiny slice of our customer’s workflow. We need to embed ourselves deeper into their daily workflow by partnering with the systems they use. We need to partner closely with companies like Veeva and Esko, the artwork management systems for Brands today.

4. Deliver our technologies as programmatic inspections (APIs) reword

In our mission of automating the proofreading function, our goal is to minimize the time users spend in our systems. Customers who want to invest in process automation should be able to run inspections without opening our UI.

5. Extend our value offering past the features of GVW & GVD specific to single page

Today we do not solve the full scope of our users' proofreading jobs since users still need to manually proofread even in the optimal usage of GlobalVision.

Eg. Single file inspection
There is a valuable opportunity to compare the initial version of a document against a set of standards like FDA regulatory requirements or internal brand guidelines.

We need to close the gap on all the “known” customer problems (text, graphics, barcode, braille, spell…) first so that we can start working on problems the company hasn't explored before.

6. Reduce friction for growth by building for scale remove

We need to build a product that does the heavy lifting to get users to success, which is the only way for a company of our size to sell and scale within enterprise customers. We need a simple user experience and in-product training so that companies can onboard without our handholding.

1. Focus on target key accounts

10% of the customers brought in 56% of the revenue (2022), of which 90% were Brands. We need to follow this past success by focusing on select enterprise Brands accounts and making each one generate $500k+ USD ARR. We need to create strategies for each account and ensure that we have a team accountable for each key customer’s success and expansion.

2. Adoption first, monetization second

For Enterprise accounts to grow as much as possible, they need to expand without friction. We are betting that our product will be valuable at scale once it gets into users' workflows. Once it is embedded, we can monetize easily.

Learn more: The Generous Trial - Business model (see this page, and its 5 sub-pages)

3. Increase the number of champions and power users in each key account

Champions and power users are the key to stickiness since they are the ones who spearhead GlobalVision within Enterprise organizations.

Learn more: GlobalVision Advocates and Power Users

4. Involve customers in our product development

Enterprise customers want to feel like partners in our product development so that they can be confident that our product will evolve with them over time and solve their key pain points. We need to have systematic processes that bring our customers close to the product developments, like:

1. Dedicated roadmap reviews with the product team for key accounts

2. In-app product feedback for users

3. User interviews led by the product team

The outcome is a customer-driven roadmap.

5. Start transitioning clients from GVW to Verify in Q3 2024

Verify “closed the gap” in 2023, and is improving at a very fast pace. Current customers should start planning their transition to our core product of the future so that they can benefit from the improvements in Verify and be on our platform of the future to benefit from all future releases. This will be a company wide effort to educate and support our customers, not force them to transition on a strict timeline.

This effort will allow us to increase revenues by pricing in an uplift on the transition, and decrease costs by minimizing our maintenance landscape.

1. Optimize the post-sales process for customer time-to-value

We need to refine the GVD post-sales process from closed-won to success to make it as simple and fast as possible. Systemizing the cycle will result in more sales, lower churn, and less effort.

2. Prioritize projects that simplify or automate operations

The complexity of GVD as a product has resulted in a process with many touchpoints, systems, and components to get customers onboarded and successful. We need to remove organizational debt as well as automate manual processes in order to make an effective and efficient sales machine.

3. Focus product development on supporting operational efficiency over enhancements

Since GVD is a mature and proven product, any developments should focus on unblocking customers from deploying and supporting the sales machine. We should avoid new enhancements since we have seen that these changes come with more cost than benefit. Additionally, reducing the release frequency will allow the operations to smoothen out.

1. Internal Sales international expansion

Our Direct Sales team is responsible for sales in Canada and the United States, while the Indirect Sales team collaborates with them to expand our presence in Europe. We prioritize efficiency and effectiveness in our geographic expansion to maximize revenue, positioning us for long-term growth and profitability in our target markets.

2. Empower high-performing resellers

To maximize revenue generation, we are transitioning most reseller partnerships to referral partnerships and focusing our attention on six major resellers in key Asian and European markets, which currently account for 80% of our revenue. Other regions will receive less focus and dedication as we prioritize upgrading the sales and service skills of our key partners.

3. Focus on multi-site contracts

To increase revenue and expand our market presence, we aim to challenge the site-by-site contract belief by influencing customers to purchase multiple site agreements. Our strategy involves developing innovative solutions to streamline the purchasing process and add value to our customer's businesses.

4. Generate Brands ↔️ Suppliers referrals

Our company recognizes that suppliers and brands are integral parts of the same value chain, yet currently operate independently. To enhance value and drive growth, we aim to become a strategic partner that bridges this gap, facilitating collaboration between suppliers and brands through proofreading and generating leads via special offers for both sides. Our goal is to establish long-term partnerships that drive mutual success and profitability in both markets.