04/07/2021 | Press release | Distributed by Public on 04/08/2021 09:18
DALLAS, April 7, 2021 - Thryv Holdings, Inc. (NASDAQ:THRY) ('Thryv' or 'Company'), 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
For more information about Thryv's end-to-end customer experience platform, please visit Thryv.com.
About Thryv Holdings, Inc.
Thryv Holdings, Inc. owns the easy-to-use Thryv® end-to-end customer experience software built for growing small to medium sized businesses (SMBs) that helps over 40,000 SaaS clients with the daily demands of running a business. With Thryv®, SMBs can get the job, manage the job and get credit. Thryv's award-winning platform provides modernized business functions, allowing SMBs to reach more customers, stay organized, get paid faster and generate reviews. These functions include building a digital customer database, automated marketing through email and text, updating business listings across the internet, scheduling online appointments, sending notifications and reminders, managing ratings and reviews, generating estimates and invoices, and processing payments.
Thryv supports franchise operators and multi-location business owners with Hub by Thryv™, a software console that enables businesses managers to oversee their operations using the Thryv® software.
Thryv also connects local businesses to consumer services through our search, display and social media management products, our print directories featuring The Real Yellow Pages® tagline, and our local search portals, which operate under the DexKnows.com®, Superpages.com® and Yellowpages.com URLs and reach some 35 million monthly visitors. For more information about the company, visit thryv.com.
Thryv delivers business services to more than 400,000 SMBs worldwide that enable these SMBs to compete and win in today's economy.
On March 1, 2021, Thryv announced it closed the acquisition of Sensis, Australia's leading digital, marketing and directory services provider, which helps Australians connect and engage through its leading platforms, digital consumer businesses (Yellow, White Pages, True Local and Whereis), search engine marketing and optimization services, website products, social, data and mapping solutions, and through its digital agency Found. Sensis is also Australia's largest print directory publisher including the Yellow and White Pages.
Headquartered in Melbourne, Sensis has a sales presence in all states and territories across Australia.