Thryv Holdings Inc

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Company Description

Thryv Holdings Inc., headquartered in Dallas, Texas, was founded in 2012 and specialises in offering software and services for small businesses. Its main products include software for managing customer relationships, online presence building tools, payment processing, and customer engagement tools. Thryv Holdings Inc. serves small businesses in various markets, including retail, hospitality, healthcare, and financial services.

Industry Overview

Thryv Holdings Inc operates in the business services industry, which is estimated to be worth $1.3 trillion in the US. This industry employs over 10 million people in the US, and is supported by a diverse workforce spread across the country. In addition, this industry is also growing in many other countries, including Canada, the UK, Germany, India, and Japan.

Industry Classification

In terms of formal classification, Platform Executive has tagged Thryv Holdings Inc as a business operating within the Consumer Services industry.

Major Products & Services

The main products and/or services commercialised by this business include:

  • Thryv Software: Customizable, cloud-based business management software for small businesses.
  • Thryv Digital Marketing Suite: A suite of digital marketing tools designed to help small businesses grow their online presence.
  • Thryv Payments: A payment processing solution that simplifies payment acceptance and processing for small businesses.
  • Thryv Consulting: Professional consulting services to help small businesses with their digital marketing and software needs.
  • Thryv Education: A suite of educational resources to teach small business owners how to better manage and grow their businesses.

Table of Contents

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Competitive Landscape

Thryv Holdings Inc operates in a highly competitive environment where several players are vying for dominance. The market is crowded and constantly evolving, with new entrants and established competitors constantly introducing new products and services. The competition is fierce, with companies utilising aggressive marketing strategies and offering competitive pricing to gain market share. Customers have a wide range of options to choose from, making it crucial for Thryv Holdings Inc to constantly innovate and differentiate itself to stay ahead. The industry is also heavily regulated, adding an additional layer of complexity to the competitive landscape. To succeed, Thryv Holdings Inc must continuously monitor and adapt to the ever-changing competitive environment.

Key Competitors

We have identified the following organisations as being key competitors:

  • Womply
  • Mindbody
  • Square
  • Appointy
  • Booker
  • Jobber
  • Setmore
  • Intuit QuickBooks
  • Clover
  • Acuity Scheduling

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Key Stakeholders

Stakeholders are individuals or groups affected by a business's actions. Understanding their needs helps a business make decisions that benefit all parties.

Internal and external stakeholders include the following:

1. Customers: Thryv Holdings Inc’s customers are the businesses and individuals who use its software and services.

2. Employees: Thryv Holdings Inc’s employees are the individuals who develop and maintain the company’s software and services.

3. Investors: Thryv Holdings Inc’s investors are the individuals and organisations who invest money in the company in exchange for equity.

4. Suppliers: Thryv Holdings Inc’s suppliers are the organisations that provide the materials, technology, and services necessary for the company to operate.

5. Partners: Thryv Holdings Inc’s partners are the organisations that collaborate with the company in order to provide better solutions for customers.

6. Regulators: Thryv Holdings Inc’s regulators are the government agencies responsible for ensuring that the company complies with applicable laws and regulations.

Customers and Cohorts

The main customers of the organisation include:

  • Small Businesses
  • Mid-Size Businesses
  • Enterprise Businesses
  • Non-Profit Organisations
  • Franchises
  • Professional Services Organisations
  • Retailers
  • Restaurants and Hospitality Services
  • Home Service Providers
  • Healthcare Providers

Competitive Advantages

Competitive advantages are unique attributes, strategies, resources, or capabilities that allow an organisation to outperform its competitors and achieve superior market position and profitability.

Competitive advantages for the business include the following:

Comprehensive Product Suite: Thryv Holdings Inc offers a comprehensive suite of products and services to help small businesses succeed, from marketing, website creation, customer relationship management, and payment processing tools to cloud-based customer management solutions.

Highly Experienced Management Team: The management team at Thryv Holdings Inc has extensive experience in the small business market and understands the needs of small business owners. This gives them an edge in providing the most effective solutions to customers.

Proven Track Record of Service Excellence: Thryv Holdings Inc has a proven track record of providing excellent customer service, which has helped it develop a loyal customer base and strong brand recognition.

Innovative Technology: Thryv Holdings Inc has invested heavily in research and development to develop innovative technology solutions that are tailored to the needs of small businesses.

Strategic Partnerships: Thryv Holdings Inc has established strategic partnerships with key players in the small business market, such as financial institutions, software providers, and other service providers, which enables it to offer a suite of integrated solutions to its customers.

Market Trends

Market trends can significantly impact an organisation by influencing consumer behavior, altering supply and demand dynamics, and ultimately affecting the organisation’s ability to remain competitive in the market. Staying ahead of these trends enables businesses to proactively adapt their strategies, mitigate risks, and capitalise on emerging opportunities.

As part of this study, we have identified a number of potential trends that could impact the organisation. These include the following:

Market Trends

Key Performance Indicators

Key Performance Indicators
KPIs (Key Performance Indicators) are important to a business such as Thryv Holdings Inc as they help measure progress towards achieving organisational goals and objectives. They provide a useful insight into the performance of different areas of the Thryv Holdings Inc business and therefore enable informed decision-making.

KPIs also help to motivate employees towards achieving targets.

Below is a list of Key Performance Indicators we deem relevant to this company:

Brand Strength

Brand strength is more than a logo or name. It reflects a company’s reputation and how it is perceived by customers, investors, and employees. It is built on core values, mission, and a unique selling proposition (USP) that differentiates the business.

Brand strength goes beyond superficial elements and taps into core values, the defined mission, and unique selling proposition (USP) of a company.

Below are key reasons why brand strength matters:

Trust and Credibility: In a market flooded with choices, customers gravitate toward brands they trust. A strong brand signals reliability and quality, fostering customer loyalty. Loyal customers not only make repeat purchases but also advocate for the brand, driving word-of-mouth growth.

Brand Strength Analysis

Differentiation: A strong brand helps a company stand out in competitive markets by clearly communicating its value proposition. It creates a unique identity, establishes a competitive edge, and positions the company as a leader in its industry. For example, Google is synonymous with internet search.

Customer Loyalty: A positive brand experience builds emotional connections, making customers less price-sensitive and willing to pay a premium. Loyal customers generate repeat business and act as brand ambassadors, reducing customer acquisition costs and boosting long-term profitability.

Talent Acquisition and Retention: A strong brand not only attracts top talent but also enhances employee morale and engagement. Employees who identify with a reputable brand are more motivated, productive, and committed, driving better business outcomes.

Benchmarking Brand Strength

Below is a guide as to the scoring mechanism used to gauge the brand strength of this company:

A

The company enjoys an excellent level of brand strength.

  • This score signifies that the company has developed a highly regarded and well-recognised brand.
  • Customers and the wider community perceive the company as trustworthy, reliable, and superior to competitors.
  • The company enjoys a strong connection with customers, who actively engage with and advocate for the brand.
  • The company's brand effectively communicates its unique value proposition.
  • The corporate attracts and retains top talent, and its reputation extends beyond its target market.
B

The company has a good brand strength, indicating that it has a solid and respectable brand presence.

  • Customers generally have positive perceptions of the company.
  • While the company may not be as distinctive or well-known as the top brands, it still differentiates itself from competitors and enjoys a loyal customer base.
  • The brand inspires some level of customer engagement and advocacy.
  • The company attracts top quality employees and maintains a good reputation. People want to work there.
C

The business has an average brand strength, meaning it is neither strong nor weak in the marketplace.

  • Customers perceive the company as ordinary or run-of-the-mill, lacking an emotional connection or distinctiveness.
  • The company faces challenges in standing out among competitors and needs to better communicate its proposition.
  • Decent level of customer satisfaction, but significant there is room for improvement in terms of brand loyalty.
  • The company's reputation is neither a huge positive, or negative.
D

The company's brand is quite weak. Work required to increase its potential.

  • Customers have mixed or negative perception of the company, associating it with average or below-average quality.
  • The business struggles to differentiate itself from its competitors and lacks a compelling value proposition.
  • Customer engagement and brand loyalty may be minimal, requiring some effort to improve the brand experience.
  • The company's reputation may have encountered challenges, poor press, or may not be well-known in the market.
E

The company's brand is weak and fails to resonate with customers and audiences. This needs to be addressed.

  • Customers perceive the company as being too unreliable, lacking in quality, or irrelevant.
  • The company struggles to differentiate itself from competitors, and there is a lack of customer engagement, or loyalty.
  • The company's reputation may be tarnished or negatively perceived, hindering growth efforts.
  • Significant efforts are required to rebuild the corporate brand and establish a more positive image in the market.
F

The company has a severe lack of brand strength. It is a problem that needs addressing with urgency.

  • The company is poorly recognised, and customers have negative perceptions or zero awareness of its offerings.
  • The company fails to communicate its unique value proposition or inspire customer loyalty.
  • The company's reputation may be highly unfavourable, and attracting customers or top talent is challenging.
  • Immediate and extensive actions are likely necessary to revitalise the brand.

Brand Strength Score

Scoring brand strength is subjective because it relies on individual perceptions and interpretations of various factors, such as customer sentiment, market dynamics, and the competitive landscape, which can vary.

Using our scoring methodology, the average score of a business is calculated as being C (average). This differs from the average score of the top 10,000 businesses featured in our coverage. Weighted to that cohort, the average brand strength score increases to a B (good).

The analysis team have noted the following factors impacting its brand strength:

  • Thryv Holdings Inc is a well-known business solutions provider that services small and medium-sized businesses in the US.
  • It offers a range of services, such as website design, search engine optimisation, and digital marketing.
  • The company is a leader in its industry, with a strong focus on innovation and customer service.
  • It has a good reputation for being reliable and providing top-notch services.
  • The company has a large customer base, with over 20 million registered users.
  • The brand is also well-known in the US market, with a strong presence in the digital space.
  • Thryv Holdings Inc. has a strong online presence, with a comprehensive website and active social media accounts.
  • Brand recognition is high, with the company often featured in the media.
  • Brand loyalty is also strong, with customers often returning for repeat business.
  • Brand Strength Score: A

7Ps Marketing Analysis

The 7Ps of marketing are crucial components of strategic decision making for any organisation in any industry vertical.

Using the 7Ps in competitive analysis provides a holistic view of the marketplace, allowing businesses to refine their strategies, capitalise on competitors' weaknesses, and better meet consumer needs. The 7P's are defined as:

  • Product/Service
  • Price/Fee
  • Place/Access
  • Promotion
  • People
  • Physical Evidence
  • Processes

All these elements together frame an organisation's marketing mix, crucial for creating effective marketing strategies.

This 7P analysis is designed to provide a valuable insight into the business strategies of the company. It can be used to reveal strengths and weaknesses in their marketing mix, offering opportunities to compare and enhance a business.

1. Product/Services: Thryv Holdings Inc offers a comprehensive business management platform that helps small and medium-sized businesses (SMBs) manage their operations, increase efficiency, and connect with customers. Their product includes features such as appointment scheduling, payment processing, customer relationship management, and marketing automation. Thryv also offers customised solutions for specific industries, such as home services, healthcare, and professional services.

2. Price/Fees: Thryv offers a tiered pricing model based on the number of users and features included. They also offer a free trial period for potential customers to test out the platform before committing to a paid subscription. Additionally, Thryv offers add-ons and upgrades for an additional fee, giving customers the flexibility to customize their plan according to their business needs and budget.

3. Place/Access: Thryv's platform is accessible through a variety of devices, including desktop, mobile, and tablet, allowing SMBs to manage their business on-the-go. Thryv also offers 24/7 customer support and training to ensure that customers have access to help whenever they need it.

4. Promotion: Thryv promotes its platform through various channels, including social media, email marketing, and partnerships with industry organisations. They also offer a referral program for current customers to earn rewards for referring new businesses to the platform.

5. Physical Evidence: Thryv's platform has a user-friendly interface and offers a clean and professional design. They also provide case studies and testimonials from satisfied customers, demonstrating the effectiveness of their product.

6. Processes: Thryv's platform is continuously updated and improved to meet the evolving needs of SMBs. They also have a dedicated team for customer support and regularly gather feedback to enhance their processes and services.

7. People: Thryv's team consists of experienced professionals who understand the challenges faced by SMBs and are committed to providing them with the best solutions. They also offer training and resources to help businesses make the most out of their platform.

Potential Products

As part of this study, we have carefully examined and prognosticated a range of new products, services, or innovations that this organisation could potentially develop and introduce to strengthen its market position and respond to emerging industry trends.

Digital marketing services: Thryv Holdings Inc could offer digital marketing services such as search engine optimisation, pay-per-click advertising, content marketing, and web design to help small businesses attract more customers.

Automated customer service platform: Thryv Holdings Inc could create an automated customer service platform to help small businesses manage customer inquiries, complaints, and feedback.

Small business analytics and reporting: Thryv Holdings Inc could offer analytics and reporting tools to help small businesses better understand their customers and identify areas for improvement.

Social media marketing services: Thryv Holdings Inc could offer services that help small businesses create effective social media campaigns and maximise their reach.

Business consulting services: Thryv Holdings Inc could provide small businesses with advice and guidance on topics such as business strategy, operations, and marketing.

Website development services: Thryv Holdings Inc could create websites for small businesses that are optimised for search engine visibility and user experience.

Potential Synergies

Our proprietary product and portfolio-matching algorithm has identified the following organisations as having strong potential synergies with the company, based on strategic alignment, complementary capabilities, and opportunities for collaboration across markets or domains.

1. Microsoft Corporation
2. Google LLC
3. Salesforce.com
4. Oracle Corporation
5. Adobe Systems Incorporated
6. Intuit Inc.
7. Constant Contact
8. Wix.com Ltd.
9. Yelp Inc.
10. Yodle Inc.

Porter's Five Forces

Developed by Michael Porter in 1979, Porter’s Five Forces is a model used to analyse industry attractiveness and evaluate competitive environments. It considers five forces:

  • Competitive rivalry
  • Supplier power
  • Buyer power
  • Threat of substitution
  • Threat of new entries

We include this framework because it supports strategic planning, investment decision-making, and long-term competitive positioning across industries by highlighting structural pressures, market threats, and potential profit constraints.

The Porters 5 forces for Thryv Holdings Inc are:

1. Bargaining power of buyers: LOW

2. Bargaining power of suppliers: MODERATE

3. Threat of new entrants: LOW

4. Threat of substitutes: LOW

5. Intensity of rivalry: LOW

Thryv Holdings Inc scores relatively WELL in relation to the Porters 5 forces. The company has a LOW bargaining power of buyers, MODERATE bargaining power of suppliers, LOW threat of new entrants, LOW threat of substitutes, and LOW intensity of rivalry.

PESTLE Analysis

A PESTLE analysis is used to evaluate external factors affecting an organisation. It examines (1) Political; (2) Economic; (3) Social; (4) Technological; (5) Legal; and (6) Environmental influences. This framework helps businesses identify potential risks and opportunities in the macro-environment, supporting informed decision-making, strategic planning, and long-term sustainability in dynamic markets.

Reasons to use a PESTLE include:

  • Environmental Scanning: PESTLE helps assess external factors, keeping executives aware of key forces
  • Strategic Planning: It identifies opportunities and threats, aiding market alignment and goal-setting
  • Risk Assessment: PESTLE highlights risks, helping businesses develop mitigation strategies
  • Market Insights: It provides insights into trends, behavior, and regulations for better strategy development
  • Business Adaptation: Regular analysis allows businesses to stay competitive by adapting to changes

Below is the PESTLE analysis for this company:

PESTLE Analysis: political, economic, social, technological, legal, environmental

CATWOE Analysis

CATWOE

The CATWOE analysis helps businesses understand stakeholders' perspectives for informed decision-making, covering six elements:

  • Customers: Beneficiaries of the system’s outputs
  • Actors: Those who influence the system’s functionality
  • Transformation: Converting inputs into value-creating outputs
  • World View: The broader context behind the system’s existence
  • Owner: Decision-makers with authority over the system
  • Environment: External factors impacting the system

The CATWOE analysis is most effective when used alongside a SWOT analysis.

SWOT Analysis

This SWOT analysis is a strategic planning tool used to assess the strengths, weaknesses, opportunities and threats of the Thryv Holdings Inc business.

When creating this SWOT the team at Platform Executive have taken into consideration the corporate strategy; brand; key financials; the competitive landscape; along with the products and/or services offered.

To offer increased context for future innovation and product development we also consider the historical context for the business and industry; and perceived direction of travel.

Upon researching the company, we have uncovered a number of strategic and operational strengths, weaknesses, opportunities and threats.

SWOT Analysis: strengths, weaknesses, opportunities, threats

Strengths

The strengths of a company refer to its internal attributes or capabilities that provide it with a competitive advantage.

Below is a list of the key strengths we have identified for the business:

1. Thryv Holdings Inc is a well-funded and experienced technology company with a strong track record in the mobile gaming and social media sectors.

2. The company has a strong international presence, with operations in countries such as the United States, Canada, and the United Kingdom.

3. Thryv Holdings Inc. has a strong focus on developing innovative and high-quality mobile games and social media platforms.

4. The company has a strong team of experienced executives and developers, which allows it to rapidly develop and deploy new products and services.

Opportunities

Opportunities refer to factors that present potential avenues for growth, advantage, or improvement for an organisation.

Below is a list of opportunities we have identified for the business:

1. Increase customer retention rate: Thryv Holdings Inc can increase its customer retention rate by offering incentives such as discounts, free trials, free shipping, and other rewards. This will help Thryv build loyalty, trust, and brand recognition among its customers.

2. Improve customer service: Thryv needs to focus on providing excellent customer service in order to ensure customer satisfaction. This could include creating a comprehensive support system and a customer service team that is well-trained and knowledgeable.

3. Expand product offering: Thryv should consider expanding its product offerings so that it can reach a larger market. This could include introducing new products and services, such as software solutions and cloud-based services.

4. Enhance digital marketing strategy: Thryv should focus on creating an effective digital marketing strategy that will help it reach a wider audience. This could include leveraging social media, search engine optimisation, and content marketing tactics. Additionally, Thryv can use data-driven insights to identify and target potential customers.

Weaknesses

The weaknesses refer to factors that hinder a company's performance or competitive advantage.

Below is a list of the weaknesses we have identified for the business:

1. Lack of focus: Thryv Holdings Inc. has a portfolio of businesses that span a wide range of industries, from healthcare to hospitality. This lack of focus means that the company lacks the expertise and knowledge to excel in any one particular industry.

2. High debt levels: As of June 30, 2020, Thryv Holdings Inc. had $1.67 billion of debt on its balance sheet. This high level of debt leaves the company vulnerable to a rise in interest rates or a deterioration in its business.

3. Poor profitability: Thryv Holdings Inc. has been unprofitable in recent years, with a net loss of $316 million in 2019. This poor profitability indicates that the company is not efficient in its use of resources.

4. weak market position: Thryv Holdings Inc is a relatively small player in most of the markets it competes in. This weak market position limits the company's ability to negotiate favourable terms with suppliers and to compete on price.

Threats

The threats to an organisation refer to factors that pose challenges or risks to a company's success.

Below is a list of the threats we have identified for the business:

1. Competition – Thryv Holdings Inc is facing increasing competition from larger competitors in the technology space such as Microsoft and Amazon. This could ultimately lead to a decrease in market share and revenue for Thryv Holdings Inc.

2. Cybersecurity – With the rise of cyber-attacks and data breaches, Thryv Holdings Inc is at risk of having its data and systems compromised. This could lead to significant financial losses, reputational damage, and decreased customer confidence.

3. Acquisition Risk – Thryv Holdings Inc is actively engaging in acquisitions to expand its business. This could potentially lead to costly mistakes and an over-dependence on a single product or service, which could lead to a decrease in revenue and profits.

4. Economic Conditions – Thryv Holdings Inc is operating in an increasingly volatile economic environment. This could potentially lead to a decrease in demand for their services and products, resulting in a decline in revenue and profits.

5C Analysis

The 5C Analysis is a marketing framework that can be used to provide insight into the key drivers of success, as well as the risk exposure to various environmental factors.

This (concise) 5C analysis examines the external and internal environment for Thryv Holdings Inc. It includes analysing the company's customers, competitors, collaborators, context, and capabilities. We have produced this short analysis to identify potential opportunities and threats to Thryv Holdings Inc, as well as areas where the company needs to improve its operations or strategy.
Company: Thryv Holdings Inc is a technology-driven platform for managing small businesses. The company offers a comprehensive suite of services, including payment processing, marketing, customer relationship management, and customer support. Thryv provides businesses with the ability to manage their business operations from one central platform.

Collaborators: Thryv partners with a number of companies to provide customers with a seamless experience. The company works with several payment processing companies, such as PayPal and Stripe, to enable customers to accept payments securely. Thryv also partners with marketing and customer relationship management companies to provide customers with a comprehensive marketing and customer support suite.

Customers: Thryv's customer base consists of small businesses, ranging from local restaurants to online retailers. The company offers a wide range of services to customers, including payment processing, customer relationship management, and marketing. Thryv also offers customers access to a comprehensive customer support system.

Competitors: Thryv's main competitors include Square, Constant Contact, and Wix. These companies offer similar services to Thryv, but with different features and pricing structures.

Content: Thryv provides customers with a wide range of content, including educational materials on small business management, blog posts, and webinars. The company also offers customers access to customer support experts to assist with any issues they may have. Additionally, Thryv provides customers with a library of marketing and customer support templates to help businesses create effective campaigns.
5C Analysis: company, customers, competition, collaboration, climate

MOST Analysis

MOST Analysis: mission, objectives, strategy, tactics

The MOST analysis framework is used to identify an organisation's strategic goals, assess its strengths and weaknesses, and develop a plan to achieve its objectives. The MOST analysis helps executives focus on what they want to achieve and how to achieve it, while also identifying potential roadblocks or obstacles.

  • Mission defines the organisations purpose and core values, providing a clear direction and inspiration for stakeholders
  • Objectives are specific, measurable targets that support the mission; they indicate what the organisation aims to achieve within a defined timeframe
  • Strategy outlines the high-level approach the organisation will undertake to reach its objectives, detailing how resources will be allocated and initiatives prioritised
  • Tactics are the actionable steps and specific plans that implement the strategy, ensuring that all team members understand their roles in achieving objectives

We have created this analysis from a 3rd person perspective.

Innovation Scorecard

The team at Platform Executive assesses and then benchmarks businesses and the industry verticals in which they operate using a proprietary scoring mechanism designed to benchmark innovation.

First, we allocate a score of A-E for the industry, based on the key organisations operating within the space; and then score the individual organisation using a 1-5 score.

A score of D-E within an industry means that it is potentially ripe to be disrupted by a new entrant; and/or vulnerable to technological change.

Likewise, a high score of 4-5 for the company in question indicates that it lags behind notable businesses in terms of innovation and product pipeline.

Below is a guide to each score:

Innovation Scorecard

Industry Score:

A The industry is amongst the most innovative; with the leading players all driving the sector forward.
Example industry: PaaS
B The industry and its leading players have a good track record of innovation; and can quickly react to change.
Example industry: Pharmaceutical
C Companies operating within the sector have adequate levels of innovation; and engage in R&D activities when appropriate.
Example industry: FMCG
DBusinesses operating in the industry do not invest enough time and resource into innovation. The sector is stagnant and a good candidate for disruption.
Example industry: Retail Banking
E The major players in the sector seem to lack suitable product development roadmaps; and as a result the sector is highly vulnerable to industry change.
Example industry: Publishing

 

Company Score:

1 The business is amongst the leading players in terms innovation and product pipeline. This will fulfil and reinforce the operations of the business in the medium to long-term.
2 The business has a good track record of innovation, in terms of its products and/or its business model. It is therefore more likely to be able to react and adapt to any changes to the industry.
3 The business is deemed to have an adequate innovation plan, build on research and development and sustainability where appropriate. The business has a product development strategy.
4The business needs to invest more resource and/or intellectual capital in product development, pipelines and/or its business model. The business is at risk of stagnation.
5 The business seems to lack a suitable product development roadmap; and as a result is vulnerable to any notable industry change and/or new entrants in the marketplace.
The team at Platform Executive has judged Thryv Holdings Inc as having an innovation score of C2.

Appendices

The appendices section of this report contains supplementary information that we deem helpful in providing a more comprehensive understanding of the report.

Methodology

This study on Thryv Holdings Inc forms part of our series of competitive intelligence reports, which focuses on 10,000 of the largest corporates.

The report is based on information and learning from the following sources:

  • Corporate websites
  • Proprietary research databases
  • SEC Filings
  • Corporate press releases
  • News articles
  • Financial data API's
  • Product-matching algorithm

Further Reading

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Disclaimer

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Reproduction of the content produced in this report is prohibited without the prior permission of the publisher, Platform Executive Pty Ltd.

The facts of this report have been gathered in good faith from both primary and secondary sources. It is believed to be correct at the time of publication, but cannot be guaranteed. As such Platform Executive can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect.

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