Induct offers a digital platform for work and collaboration, for individuals @HOME and organisations @WORK.
The platform is free to use and makes it easier to manage and collaborate on projects and contracts, create discussion groups, and supports organisational growth and development. By offering good and easy to use tools like news feeds, task management, unlimited document storage and video meetings – Induct is looking to radically change how we work and collaborate in the future.
Induct was founded in 2007 and customers include Equinor, HP, the Norwegian Tax Authority and >90% of Norwegian health care trusts.
Mer om bolaget
Induct.net is a digital platform for work and collaboration @HOME and @WORK. The platform is free for both individuals and organisations – there are no hidden price plans or limiting freemium versions. The platform is developed on a advertisement based business model, in addition to offering tailored modules for specific content e.g. innovation management.
With a gross margin >95%, low R&D costs and a unique opportunity to create new revenue growth, Induct is now investing heavily to grow the business. Subscriptions account for approximately 1 MNOK in revenues per month. This means that Induct is cash positive before advertisement is added to the revenue stream. Advertisements generate between 20NOK and 30NOK per user per month and the profit margin is >95%.
The company has worked successfully with the voluntary sector in Norway and the UK and is now offering pre populated templates. These templates make it easier for these organisations to work effectively and efficiently in a digital platform with minimum effort.
The latest addition to the platforms suite of free functionality is [email protected] With video meetings now being available for free, regardless of how many people attend or for how long a meeting lasts, Induct is challenging the video meeting industry and their freemium / premium based business models.
About the industry and Inducts position
Recent world events has forced us to live and work differently than what we are used to. The use of digital tools and platforms has increased significantly and now, for many, considered to be the new normal.
According to the Gartner 2020 Digital Workplace Survey 2020, SaaS-based personal productivity, collaboration and communication tools, combined into one cloud product is the number 1 trend within digital workplaces. They refer to it as the new work nucleus and their survey shows that it has become a cornerstone of most organisations’ digital workplace infrastructure. One of the challenges faced by organisations, and people, is having to juggle the different accounts and price plans across the multiple platform that are used to cover their needs.
Induct has chosen a very different business model than its industry competitors. The platform contains carefully placed advertisement, offers users a wide range of easy-to-use tools and templates, simplifies collaboration by removing unnecessary and artificial boundaries and is available to use free of charge.
Albeit a small player in the industry today, Induct is looking to become the go to platform for digital work and collaboration.
Induct in 3 years
Induct is investing heavily in the growth and development of the company. Within 2021, the company aims to have reached its milestone of 100,000 unique active users. Within 3 years, Induct aims to reach the milestone of 500,000 unique active users. The company has daughter companies in Spain, UK and the US. These markets will be targeted going forward and will play an important role in reaching this goal.
Induct is currently in partnership with Portsmouth University Hospitals NHS Trust who wants to use the platform to register and manage patients in care pathways. This first phase of the project includes patients suffering from severe asthma, COPD and breathlessness in 5 hospitals. The goal is to also include general practitioners, additional medical clinics, patients and their relatives.
Within 3 years, Induct will be used for managing patients in a range of care pathways within NHS England.
@HOME by Induct is a digital space for your personal life and spare time activities. It gives you the structures and tools you need to manage your life digitally – from home renovation projects to insurance policies and family event planning.
@WORK by Induct is a digital space for organisational work and collaboration. It has the tools organisations need to manage, organise and collaborate on work – alone or in partnership with others.
Software as a Service, also know as SaaS, is a cloud-based service where instead of downloading software to your desktop PC or business network to run and update, you instead access an application via an internet browser.