Risky business meets its match as team Triplejump hops, skips, and jumps through Auckland

 

Team Triplejump is working for a company providing human capital risk management solutions through a cloud-based platform. They want to expand the business globally and are exploring a licensing strategy for major banks and accounting firms around the world.

 

The Haas network remains strong even in the farthest corners of the world.  We were welcomed at the airport by ’04 alum, Ross McConnell, a Non-Executive Director at Triplejump, who served as our liaison for the project and hosted us in the New Zealand countryside for our first weekend in town.

Arrival

 

 

 

 

 

 

 

Arrival in Auckland, New Zealand

 

pukekohe

 

 

 

 

 

 

 

Pukekohe, New Zealand

 

Following some sightseeing and a drive on the beach, we ventured into Auckland on our first night where a future member of the Haas class of 2015 joined us for dinner and drinks in the Central Business District of Auckland.

 

dinner

Haas Dinner at Agents & Merchants in Auckland with Ross McConnell (Haas ’04) (top center)  and Andrew Hinton (A new Haasie! Class of 2015) (top left)

 

We then enjoyed a traditional Kiwi roast (for the meat-eaters among us) with the team Sunday night before getting to work Monday morning.

 

 

Our Project

Since January we have been working with Triplejump, exploring expansion opportunities for their human capital risk solution.  Triplejump provides a breakthrough solution to managing human capital risk for small and medium sized enterprises and has been successful offering this solution through its franchise network in New Zealand for the past seven years.  Though successful, the franchise business model is not scalable on a global level, and Triplejump has been exploring licensing their IP to commercial banks and accounting firms which can serve as distribution networks, bringing these solutions to their clients around the world.  We have been researching a number of value propositions to the potential licensees, above and beyond the proven revenue and profitability benefits this offering would bring.  Initially we were tasked with looking into the hypothesis that there was the potential to reduce the capital reserves required by banks under Basel III, by reducing the risk of issued loans to firms which utilized human capital risk solutions. After much research and a number of interviews with industry experts in the US, we found that this was unlikely and had to change our focus.  Fortunately, our work uncovered several other potential value opportunities.  We explored those with the strongest potential value: increased cross-selling enablement, regulatory risk management, and an improved lending portfolio, but a lot remained to be uncovered in country.

 

 

Our Work in New Zealand

During our first day in the office we sat down with the CEO of Triplejump, Cecilia Farrow, who patiently answered all of our questions, brainstormed with us about our plan of attack, and provided us with much of the proprietary information we couldn’t access while were in the States.  We could not believe what one day could do for our understanding!  Later that first week we walked through the in-process minimum viable product with the head of technology, so that we had an in-depth and up-to-date understanding of the product and could get all of our technical questions answered.

 

working @ TJworking @ TJ 2

Hard at work in Triplejump’s headquarters

 

Armed with our pre-trip research and a greater understanding of Triplejump’s offering, we entered the field where we had the opportunity to interview some of Australasia’s leaders in the banking sector, including Sir Ralph Norris – former CEO of Commonwealth Bank of Australia and former CEO of Air New Zealand, John Body – Head of Private Banking at Australia New Zealand Banking Group, and several leading private bankers with Bank of New Zealand.  Through these interviews, we gained incredible insight into the perspective of our potential licensee market and validated many of our hypotheses, while also opening the door for others.

 

At the end of the first week we also had the opportunity to attend the annual Triplejump Advisor Conference.  Here we met with many of the current financial advisors who operate through Triplejump’s franchise network, and were able to gain a better understanding of their work from a first-hand perspective.  We also managed to have a little bit of fun at the same time!

Advisor Conference

Triplejump Advisor Conference

 

 

Sharing Our Findings

Our final day of work was filled with presenting the findings of our project – so much more in depth than we could have ever imagined just three months prior!  We began the day by presenting to some of the bankers that had shared their time with us, and who could one day benefit from licensing the Triplejump solution.  It was interesting to hear their reactions and provided valuable insight into how our work will be received by actual customers.

 

We then had an in-depth session with the Board of Directors.  How incredible to have the opportunity to present our work to them!  And we learned so much from their questions and comments.  It was such a great way to bring the work full circle and to see how much of it will actually be used!

 

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Presenting our findings

 

 

Finally, we presented to the team at Clearpoint, who is developing the platform for the new system, as well as key investors.  What an incredible, whirlwind day.  It took a lot to get here but it was incredible to see all of our hard work come together and hear how much it meant for the business.

 

 

And a little Kiwi culture

On the weekends, we managed to squeeze in a little bit of fun and some Kiwi culture.  We caught dinner while fishing in Tairua, made our own mini hot tubs at the famous hot water beach in the Coromandel, witnessed the beauty and the vineyards of Waiheke Island, enjoyed even more vineyards and beaches in Omaha, saw the black sand beaches of New Zealand’s west coast, and soaked up some Maori culture at the Auckland Art Gallery.

 

omaha beach

The team at Omaha beach

 

It’s hard to believe three weeks could fly by so quickly.  We wish all the best future success to the entire team at Triplejump, and know we will see them again as I am sure we will all be back!

 

 

 

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