Thryv Launches Fully-Integrated Verticalization Platform
Thryv Holdings, Inc, the provider of Thryv® software, the leading end-to-end customer experience platform built for growing small businesses, today announced the launch of its Integrated Verticalization Platform. On the heels of its recent verticalized CRM enhancement, this development will ensure that small businesses that utilize Thryv’s software will have the solution pre-set and tailored to their industry specifications, terminology and workflow.
The Verticalization Platform is integrated throughout the entire backend of Thryv’s end-to-end platform. Therefore, the verbiage, fields, tracking, services offered, labels, dropdown options, marketing campaign libraries and Client Portal designs – as well as the CRM – are all pre-configured and tailored for each industry.
As Thryv’s CEO Joe Walsh discussed on the Company’s March 25, 2021 Q4 2020 Earnings Call, Thryv for Home Services will launch in the second half of this year as a solution specifically designed for home services-focused small businesses. Thryv plans to utilize the learnings from Thryv for Home Services to launch additional industry verticals thereafter.
Thryv strategically developed its software platform five years ago, targeting its existing diverse base of service-driven businesses, rather than focusing on a single vertical. For the past 12 months, Thryv has piloted and tested the Verticalization Platform functionality that will create an enhanced customer experience for specific industries.
When comparing the horizontal-to-vertical strategy in the industry, other software developers tend to start small, without the benefit of a diverse and large customer base like Thryv’s. These developers focus on one vertical before expanding to other markets, with varying success, and typically requiring hefty investment.
“Other SaaS companies have had to make acquisitions to build out because they were too vertically focused to be effective to a broader market and unwittingly have limited their total addressable market,” said Ryan Cantor, Thryv’s VP of Product and Marketing. “Because Thryv started with a broad focus, it is easier and more efficient for us to build out enhancements to focus on specific verticals that we see could benefit from specialization.”
Thryv recently completed a market research study conducted by an independent third-party research firm that specializes in SaaS solutions to further understand the needs of home services businesses. The results of the study clearly signaled the business need for increased efficiency through sophisticated technology at a reasonable price.
Further, the study confirmed that Thryv’s ability to offer its customizable platform, at its small business-friendly price point, is paramount for continued success. Key takeaways from Thryv Home Services users captured what they like most about using Thryv:
“Full control and supervision of employees and follow-up and monitoring of activities and tasks…” – Cleaning services
“An end-to-end solution for tradesmen like myself. I think the payment assistance is valuable.” – Electrician
“It is designed for home service businesses, which is unique.” – Painter
“It has many features that can improve our efficiency in doing business.” – Plumber