Launched in the early 2010s by a pair of co-founders and a single employee, iCopy is a B2B service-based startup that has grown up into a small business. iCopy’s primary focus is retrieving records from healthcare entities via a complex legal process and delivering them to their clients electronically.
Early on, it became apparent that if iCopy was ever going to scale and be competitive on a national level, technology was going to have to be leveraged. Like many companies at this stage, iCopy was getting by with piecing together a combination of free tools and archaic processes. When the decision was made to invest in building proprietary software, the leadership team had a vision, but lacked experience in product development.
This lack of experience led them to a decision that turned out to be a costly mistake. iCopy hired a developer “friend of a friend” to try to execute on the product. While this individual may have been an expert in a certain tech stack or realm of computer engineering, he certainly was not an expert in product development. Because of this, the progress stalled and the project was ultimately abandoned – leaving the company with technical debt and no way forward.
For several months, the iCopy leadership team sat idle with the abandoned project unsure of where to turn to next. This is where VAULT entered the equation.
VAULT’s proven process led to two major accomplishments early in the engagement. First, they were able to work together to distill the grand vision down into something both affordable and efficient to execute. By defining and prioritizing the features, a go-to-market version of their platform, Nimbus, was agreed upon.
The design team was able to put together a clickable prototype that served not only as a foundation for development – but a sales asset for the iCopy team. With the prototype at their disposal, iCopy pre-sold their new and enhanced service model, putting them in a ripe position for product launch.
Upon launch, the product was extremely well received. Existing customers were pleased with the platform and how streamlined of an experience it was while new customers began piloting the product. With new feedback and features requests rolling in, VAULT was able to help them further expand on their product, leading to higher customer satisfaction, increases in customer acquisition and a higher retention of their existing clients.
Two years post-launch, iCopy grew their client volume nearly 300% while revenue jumped over 10x. The focus on customer-driven development has created a great experience for all stakeholders involved and a foundation to continually build new improvements in the future. Now at 50+ team members, iCopy is growing quickly and becoming an industry leader in the record retrieval space.
Revenue has grown 10X in the first years post-launch
Increases in customer acquisition and higher customer retention
Increase of 300% in client volume
Going above and beyond, Vault Innovation put in the time to understand the unique business and the legal needs. The reaction to the portal has been nearly universally positive, and the subpoena service has found several new clients because of the new portal.