This business is a Cross Connection Control (CCC) management program for the water industry specifically in backflow device and test management processes. They have proprietary software that makes the CCC program run the most efficiently in the industry. With their web portal and mobile app, they are rapidly eliminating the need for paper reports and gaining traction across the country. Their solution is no cost to the utility as well, which is an exciting model, leading to guaranteed profit. Not only do they have a great software solution, the company also can become the utilities call center, alleviating the need to pull staff in many different directions trying to manage these programs among other duties.
Over $250,000 has been invested into the software platform over the last 7 years to enhance the business operations and user experience.
This company is not a service company, or a product company; it is by the very definition a Software As A Service (SaaS). SaaS is the leading choice in any industry using software because of the many benefits. SaaS has a high adoption rate of customers because there are no specific requirements on computer or device. SaaS is steadily increasing because it simplifies deployment, reduces customer acquisition costs, and has much lower development needs and costs.
The revenue model of this company is also very unique and very profitable, but industry standard within the market. The model is such that their client and agreement is with a water utility. The program and platform is free to the utility, but the end users pay a submission fee that is 100% mandated and collected by the management SAAS platform.
Due to the unique nature of this business and the variety of acquisition structures that the Seller is willing to entertain, it will be assumed that the Purchaser, and/or advisor of Purchaser, will possess sufficient financial sophistication to determine value and submit a purchase offer. This company should be valued as a SaaS company.
Seller Reference #INDIAIN001-N1704
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