Revitalizing Marine Industry Software: DockMaster’s Journey Post-Acquisition

Vertical Market: Marine and Marina Management Software
Acquisition Date: May 2017
Head Office: Stuart, Florida, USA
Website: DockMaster

About DockMaster 

DockMaster, a pioneering force in the marine industry software sector, was acquired by Valsoft in 2017. Known for its comprehensive solutions that cater to the management needs of marinas and boatyards, DockMaster has been a trusted name in the industry for decades.

Why Sell to Valsoft?

DockMaster had changed hands twice before its acquisition by Valsoft. At the time, the company was stable but experiencing neither significant churn nor growth. There was a clear need for investment to harness the potential of the booming leisure services market, particularly as the COVID-19 pandemic spurred a surge in small marina activities. Recognizing Valsoft’s commitment to the marine sector and its operational expertise, DockMaster saw an opportunity to rejuvenate and expand its offerings.

Key Challenges

Upon acquisition, DockMaster faced several challenges:

  • Stagnant Growth: Despite a stable customer base, there was little growth or investment in innovation.
  • Industry Digitalization: The pandemic highlighted the urgent need for digital solutions to manage increased demand.
  • Resource Allocation: Limited investment in infrastructure, R&D, and customer support hampered growth potential.

Strategies Implemented

DockMaster embarked on a strategic focus to address these challenges:

  • Increased Investment: Leveraging Valsoft’s resources, DockMaster invested heavily in infrastructure, hiring more developers, improving QA processes, and launching new software features.
  • DockMaster Payments: Introduction of a customized payment processing solution to enhance customer service and drive aggressive growth.
  • Acquisition of DockWorks: Integration of DockWorks to boost R&D, technology development, and customer experience with a web-based portal.
  • Cloud-Based Solutions: Developing cloud-based offerings to reduce the IP burden on small businesses, facilitating market expansion, and enhancing service quality.

Post-Acquisition Success

Since joining Valsoft, DockMaster has seen remarkable transformations and growth:

  • Revenue Growth: Consistent year-over-year revenue increases have funded further investments in the business.
  • New Markets and Customers: The cloud-based solutions have enabled DockMaster to penetrate new markets and serve customers of varying sizes.
  • Enhanced Customer Experience: Improved onboarding processes and reliable, user-friendly products have enhanced customer satisfaction and value.
  • Operational Efficiency: Access to Valsoft’s shared services (HR, IT, legal) and operational expertise has streamlined processes and fostered a customer-centric approach.

Looking Ahead

DockMaster’s journey post-acquisition exemplifies the impact of strategic investment and operational excellence. With continued support from Valsoft, DockMaster is poised to maintain its leadership in the marine industry software market, delivering innovative solutions and superior customer service.

DockMaster’s transformation underscores the power of focused initiatives and relentless commitment to customer satisfaction and growth, setting a strong foundation for future success in the global market.

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