sevDesk is an accounting software provider based in Offenburg, Germany, founded in 2013. The company specializes in helping small businesses and freelancers manage their accounting and finances efficiently. Their platform streamlines invoicing, expense tracking, and bank account management, and generates financial reports. SevDesk also facilitates collaboration with tax accountants, making it an essential tool in the fintech industry.
sevDesk has raised a total of $75.2 million in funding over multiple rounds. Their latest funding round was a Series B, where they raised $61 million in May 2021. Key investors include Arena Holdings, Carsten Thoma, Global Founders Capital, Klaus Wecken, and the government of Baden-Württemberg.
We joined sevDesk during a period of organizational transformation and took over the discovery for the banking domain.
Our primary goals were to prepare the discovery process, prioritize opportunities, and create a roadmap for implementation to ensure the team could deliver significant results quickly.
We quickly integrated with the other PMs, fostering collaborative relationships and becoming a resource they sought for advice and guidance.
Additionally, we provided coaching to one PM to effectively lead the team after our departure.
When we arrived, the Banking domain had seen limited exploration and lacked a clearly defined problem space.
It was unclear what the newly forming banking team, set to start in the coming quarter, should focus on to maximize impact.
Our initial focus was mapping user flows and conducting competitor analysis to establish a strong foundation for our work.
First Deliverables and Results:
We identified key problems within the banking domain, prioritized them based on impact and effort, and took strategic actions to address them, ensuring our solutions were both effective and sustainable.
Initiative 1 - User Interviews and Data Research
We started by conducting several user interviews with different segments of banking users to better understand their goals and problems.
Based on these insights we were able to map the customer journey. We completed this with quantitative data that based our decision with regards to impact and focus
Deliverables and Results:
Initiative 2 - Problem Space Workshop
We organized and led a problem space workshop to present the problem to the leadership and align on opportunities prioritization.
This workshop was instrumental in defining the scope of the problem space and ensuring that everyone was on the same page regarding the strategic priorities.
Deliverables and Results:
After thoroughly exploring and understanding the problem space, we moved towards delivering tangible results after the team had its kickoff one month before our planned departure.
Initiative 3 - Presenting Problem Space to the Team and Brainstorming Solutions in OST
We presented our findings and insights from the problem space workshops to the team, ensuring everyone was aligned and understood the strategic direction.
Conducting brainstorming sessions using Opportunity Solution Trees (OSTs), we collaboratively developed innovative solutions to address the identified opportunities.
Deliverables and Results:
Initiative 4 -Writing PRDs, Epics, and User Stories
We drafted detailed Product Requirement Documents (PRDs), breaking them down into epics and user stories. This structured documentation facilitated efficient development and ensured that the team could execute the plans effectively.
Deliverables and Results:
Initiative 5 -Setting Up Timeline and Team Strategy
Assisting in setting up the timeline and drafting the team strategy, vision, and roadmap for the upcoming quarters, we provided a clear and actionable plan for the banking team to follow.
Deliverables and Results:
We provided coaching to the newly assigned PM for the banking team on critical topics such as user flows, solution ideation, product documentation, developing the KPI tree, managing new topics, and updating the opportunity-solution tree.
Additionally, we fostered a culture of continuous improvement to ensure that the team could continue to operate sustainably after our departure.
Deliverables and Results:
💡 Strategic Alignment and Problem Space Presentation: Mapped user flows, conducted user interviews, conducted competitors and data analysis, and presented problem space findings to align the team and define strategic priorities.
💡 Comprehensive Documentation: Created detailed PRDs, epics, and user stories to facilitate efficient development, ensuring the backlog was organized and priorities were clearly defined.
💡 Actionable Planning: Assisted in setting up the timeline and drafting the team strategy, vision, and roadmap for the upcoming quarters, providing a clear and actionable plan for execution.
💡 Coaching and Mentorship: Provided coaching and mentorship to the newly assigned PM, fostering a culture of continuous improvement and ensuring sustainable growth for the team.
sevDesk extended our mission from the planned 3 months to 5 months to continue our discovery work, coaching the newly assigned PM and making sure the banking team can have a frictionless kickoff.
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