Harvard Case - Telepass: From Tolling to Mobility Platform
"Telepass: From Tolling to Mobility Platform" Harvard business case study is written by Chiara Farronato, Stefano Denicolai, Sarah Mehta. It deals with the challenges in the field of Strategy. The case study is 26 page(s) long and it was first published on : Sep 15, 2021
At Fern Fort University, we recommend that Telepass pursue a multi-pronged growth strategy focused on leveraging its existing strengths in tolling and technology to become a leading player in the broader mobility ecosystem. This strategy involves:
- Expanding geographically into new markets, particularly in Europe and emerging economies.
- Developing a comprehensive suite of mobility solutions including parking, charging, and public transport integration.
- Leveraging data and analytics to offer personalized mobility solutions and enhance operational efficiency.
- Building strategic partnerships with key players in the mobility sector to expand reach and access new technologies.
2. Background
Telepass, an Italian company, has a long history in the tolling industry, having been a pioneer in electronic toll collection. The company has successfully leveraged technology to automate and streamline tolling operations, building a strong brand and customer base. However, the company faces challenges as the tolling market matures and demand for alternative mobility solutions grows.
The case study focuses on Telepass's CEO, Giovanni Castellucci, who recognizes the need for a strategic shift towards a broader mobility platform. He aims to transform Telepass from a toll collection company to a provider of comprehensive mobility solutions, leveraging its existing technology and customer base.
3. Analysis of the Case Study
Industry Analysis:
- Porter's Five Forces:
- Threat of new entrants: Moderate, as the mobility sector is attracting new players with innovative solutions.
- Bargaining power of buyers: High, as consumers have a wide range of mobility options available.
- Bargaining power of suppliers: Moderate, as Telepass relies on technology providers and infrastructure partners.
- Threat of substitutes: High, as alternative transportation modes like public transport, ride-sharing, and electric vehicles are gaining popularity.
- Rivalry among existing competitors: High, as the mobility sector is fragmented and characterized by intense competition.
- SWOT Analysis:
- Strengths: Strong brand recognition, established technology platform, extensive customer base, data analytics capabilities.
- Weaknesses: Limited product portfolio beyond tolling, potential dependence on government contracts, limited international presence.
- Opportunities: Growing demand for integrated mobility solutions, advancements in AI and machine learning, emerging markets with high growth potential.
- Threats: Competition from established players and new entrants, regulatory changes, technological disruption.
Value Chain Analysis:
Telepass's value chain is centered around its core competency in technology and analytics. This enables the company to offer efficient and reliable tolling services, collect valuable data, and develop innovative mobility solutions. The company's value chain can be further enhanced by:
- Expanding its product portfolio: Offering parking, charging, and public transport integration services.
- Strengthening its data analytics capabilities: Developing personalized mobility solutions and optimizing operations.
- Building strategic partnerships: Collaborating with key players in the mobility sector to expand reach and access new technologies.
Business Model Innovation:
Telepass needs to adopt a business model innovation approach to move beyond its traditional tolling business. This involves:
- Shifting from a product-centric to a customer-centric approach: Focusing on providing personalized mobility solutions that meet customer needs.
- Leveraging its data and analytics capabilities: Offering value-added services like personalized route planning, traffic information, and parking recommendations.
- Developing a multi-sided platform: Connecting users with mobility providers, creating a network effect that increases value for all stakeholders.
4. Recommendations
1. Geographic Expansion:
- Target European markets: Focus on countries with high vehicle ownership and well-developed transportation infrastructure.
- Enter emerging markets: Explore opportunities in countries with rapid urbanization and growing middle class, such as India, China, and Southeast Asia.
- Utilize M&A: Acquire or partner with existing players in target markets to accelerate expansion.
2. Product Development:
- Develop a comprehensive suite of mobility solutions: Offer parking, charging, and public transport integration services.
- Leverage AI and machine learning: Develop personalized mobility solutions based on user preferences and travel patterns.
- Offer value-added services: Provide real-time traffic information, parking availability, and route optimization.
3. Strategic Partnerships:
- Collaborate with mobility providers: Partner with ride-sharing companies, public transport operators, and electric vehicle charging providers.
- Integrate with technology companies: Partner with companies specializing in AI, data analytics, and mobile payments.
- Explore joint ventures: Partner with local businesses in target markets to gain access to resources and expertise.
4. Brand Management:
- Reposition Telepass as a mobility platform: Communicate the company's new vision and value proposition to customers.
- Develop a strong brand identity: Create a consistent brand experience across all touchpoints.
- Leverage social media and digital marketing: Engage with customers and build brand awareness online.
5. Basis of Recommendations
- Core competencies and consistency with mission: The recommendations align with Telepass's core competencies in technology and analytics, and support the company's mission to become a leading mobility platform.
- External customers and internal clients: The recommendations address the needs of both external customers seeking integrated mobility solutions and internal clients seeking to expand the company's reach and revenue streams.
- Competitors: The recommendations consider the competitive landscape and aim to differentiate Telepass by offering a comprehensive suite of mobility solutions and leveraging data analytics.
- Attractiveness ' quantitative measures if applicable: The recommendations are expected to generate significant revenue growth and market share gains, contributing to the company's long-term profitability.
6. Conclusion
By pursuing a multi-pronged growth strategy focused on geographic expansion, product development, strategic partnerships, and brand management, Telepass can successfully transform itself from a tolling company to a leading player in the broader mobility ecosystem. This strategy will enable the company to capitalize on the growing demand for integrated mobility solutions, leverage its existing strengths, and achieve sustainable growth.
7. Discussion
Alternatives not selected:
- Focusing solely on tolling: This would limit the company's growth potential in a maturing market.
- Acquiring a large mobility company: This would be a costly and risky strategy, potentially leading to integration challenges.
Risks and key assumptions:
- Competition: The mobility sector is highly competitive, and new entrants with disruptive technologies could pose a threat.
- Regulation: Changes in government regulations could impact the company's business model.
- Technology: Rapid technological advancements could make existing solutions obsolete.
Options Grid:
| Option | Advantages | Disadvantages |
|---|---|---|
| Geographic Expansion | Access to new markets, growth potential | Competition, regulatory challenges |
| Product Development | Diversification, customer value | Investment costs, technological risks |
| Strategic Partnerships | Access to resources, market reach | Dependence on partners, integration challenges |
| Brand Management | Increased brand awareness, customer loyalty | Costly, time-consuming |
8. Next Steps
- Develop a detailed strategic plan: Outline specific goals, timelines, and resource allocation for each recommendation.
- Conduct market research: Gather data on target markets, competitor analysis, and customer needs.
- Identify and evaluate potential partners: Assess the suitability of potential partners based on their capabilities, market reach, and alignment with Telepass's vision.
- Pilot new products and services: Test new solutions in select markets before launching them on a larger scale.
- Monitor progress and adapt the strategy: Regularly assess the effectiveness of the strategy and make necessary adjustments based on market conditions and performance metrics.
By implementing these recommendations and taking a proactive approach to managing risks, Telepass can position itself for success in the dynamic and rapidly evolving mobility sector.
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Case Description
Telepass, until very recently the sole processor of electronic toll payments on Italy's highways, has ambitions beyond tolling. Since the mid-2010s, the company has been expanding into adjacent services. In 2017, Telepass launched TelepassPay-a mobile payment application (app) that allows subscribers to pay for dozens of mobility-related services and products from their smartphones. In 2019, Telepass launched a car insurance brokerage service. Using Telepass data, the brokerage service offers tailored insurance products to existing customers on behalf of insurance companies for a commission on converted leads. Now, in September 2020, Telepass's senior leaders are considering a new, insurance-related growth opportunity: moving beyond the brokerage model to become the primary insurance seller. It is unclear, however, whether Telepass's data provides sufficient insights into individual drivers' risk profiles to build competitive, customized insurance products. Alternatively, Telepass could continue to improve the brokerage model and focus its resources on adding new mobility services to TelepassPay. This case is paired with a supplementary dataset (courseware no. 622-701), which provides a data analysis opportunity for students.
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