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BluBØX is a “perfect storm” of opportunity due to the convergence of five key factors:
The Timing
- The industry has fallen behind the rest of the world in the adoption of key technologies, particularly Cloud-based, mobile and biometric solutions.
- A large gap has arisen between what is available from the manufacturers (on-premises client/server systems) and what end-users now expect.
- BluB0X’s mission: Fill the Gap.
Recurring Revenue
- Traditional product margins are being eroded by competition and commoditization.
- Sellers MUST move to the “As a Service” Recurring Revenue model or PERISH.
- For that, there needs to be a product that can be sold that way, and Recurring Revenue know-how among those who would design and sell.
- Recurring Revenue is an attractive proposition: In BluB0X’s plan, RR is 42% of overall revenue in 2020, and surpasses one time revenue in 2022
The Products
- Are truly disruptive.
- BluSKY the Cloud-based software drives the on-premise security systems; it was built using 6 key new platform technologies and is scalable to serve enterprise level and small businesses equally.
- The Person Reader uses sophisticated recognition software to produce a biometric means of entry that replaces cards and other credentials.
- The products are highly differentiated.
The Team
- BluBØX’s senior members created in year 2000 the first- ever hosted security solution for the physical security industry.
- The team accumulated 15 years’ experience evolving this design and selling it to end-users on the recurring revenue model.
- The team sold that company successfully in 2011 and brought its experience over to BluBØX.
- It is the team’s 2nd time building a cloud-based solution.
The IP
- BluBØX created two high-barrier-to-entry products that are difficult to replicate.
- The products are game changers.
- They are protected by Patents (pending).
- BluB0X is prepared to license its IP to competitors to provide them with a faster, cheaper and less risky path to market.
- The Timing: the security industry has fallen severely behind the rest of the world in its adoption of new technologies such as Cloud and mobile, and new business methods such as the “As a Service” model and this has opened a wide gap between what’s available and end-user demand. BluBØX’s mission is to plug that gap.
- It’s a Recurring Revenue Play: Traditional product margins have eroded and the accepted business solution is to migrate towards an “as a service” model – and that spells “recurring revenue”. But for that, there needs to be product that can be sold that way, and marketing and financial know-how among those who would design and sell. BluBØX’s 15 years’ experience with such elements positions it to be first to introduce the lead “As a Service” model to the industry. It is an attractive proposition: the associated recurring revenue element is 42% of total revenue in December 2020 and surpasses one-time revenue in 2022 thus doubling the company’s revenue performance and nearly tripling gross margin.
- BluBØX’s products are truly disruptive:
- BluSKY the Cloud-based software drives the on-premise security systems; it was built using the newest platform technologies and is scalable to serve small businesses and the largest enterprises equally well.
- The Person Reader is a multi-factor biometric device which will be a game changer. Approach it; look at it; be recognized, you’re in. The products are highly differentiated, technologically and functionally. Traditional manufacturers have neither the experience nor the skills to build or sell the new generation products, and they must protect their current installed base.
- BluBØX is 3 years ahead of its likely competitors.
- BluBØX’s management and technical expertise are unique: nobody has 15 years’ experience in this industry with either cloud-based products or the recurring revenue model. This has likely been one of the chief obstacles that has created the gap. But such experience was brought to BluBØX at start-up, and it underlies the design of the new product and the marketing and financial strategies.
- And finally, the Intellectual Property: BluBØX’s products are high-barrier-to-entry. They are game changers. They have been carefully protected by two patents pending, and are the subject of a dozen trade secrets. There have already been indications that industry suppliers may decide to license their next product to avoid building in a rush the expertise to develop a cloud based solution, and to get to market sooner. BluBØX’s products have been designed to be licensable to competitors.