Mark Smith's Analyst Perspectives

The Business Continuity Imperative: Price and Revenue Management for Resilience in 2020 and Beyond

Posted by Mark Smith on Aug 2, 2020 6:00:00 AM

Economic dynamics and market pressures during a black-swan event can wreak havoc on efforts to effectively manage revenue operations and pricing for business continuity. For many organizations, environmental changes disrupt the methods by which these essential business processes are managed can be disrupted, damaging the revenue streams that create profitability. The array of pricing strategies and related promotional tactics across channels for configure, price and quote (CPQ), digital commerce and subscription management can challenge the best of organizations. Leadership must examine the agility of pricing management to determine if they have ability to make and manage changes to determine the effectiveness of decisions. This requires visibility into revenue operations and selling channels, which in turn requires programs, processes and technology designed to meet the needs of what is called price and revenue management (PRM).  

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Topics: Sales, Customer Experience, Human Capital Management, Marketing, Analytics, Business Intelligence, Collaboration, Internet of Things, Data, Product Information Management, Sales Performance Management, Workforce Management, Workforce Planning, Price and Revenue Management, Total Compensation Management, Conversational Computing

The Business Continuity Imperative: Experience Management across Business for Organizational Effectiveness in 2020 and Beyond

Posted by Mark Smith on Jul 26, 2020 6:00:00 AM

Over the past several months, I have discussed a wide range of topics that organizations must consider and appropriately prioritize to maintain business continuity during periods of upheaval. But sometimes it’s important to take a step back and reflect on a critical and recurring theme: experiences. The array of experiences across the workforce and business processes both inside and outside of the organization are an essential part of an organization’s success. Leadership must give these experiences the attention they deserve, and this requires visibility into operations and the tools to measure effectiveness, especially during black-swan events. Fulfilling this objective requires the programs, processes and technology designed to meet the needs of what is called experience management (XM).

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Topics: Sales, Customer Experience, Human Capital Management, Marketing, Office of Finance, Analytics, Business Intelligence, Collaboration, Internet of Things, Data, Sales Performance Management, Workforce Management, Workforce Planning, Operations & Supply Chain, Total Compensation Management, Conversational Computing

The Business Continuity Imperative: The Continuous Planning Experience and Organizational Agility in 2020 and Beyond

Posted by Mark Smith on Jul 19, 2020 6:00:00 AM

Business planning is an essential part of an organization’s focus on its future performance and overall potential because it ensures continuous operations, even in black-swan events. Planning across the entire organization needs to be a critical priority and leadership should give it the attention it deserves. In challenging times, a focus on execution tends to take hold — this is not unreasonable but in focusing on satisfying immediate customer and workforce needs and putting out fires, business leaders too often forget that forward-looking continuous planning is essential to achieving desired outcomes. Fulfilling this objective requires technology designed to meet these needs for every business process in the organization.  

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Topics: Sales, Human Capital Management, Office of Finance, Continuous Planning, Analytics, Business Intelligence, Collaboration, Internet of Things, Data, Sales Performance Management, Workforce Management, Financial Performance Management, Price and Revenue Management, Operations & Supply Chain, Enterprise Resource Planning, ERP and Continuous Accounting, Total Compensation Management, Predictive Planning, Conversational Computing

The Business Continuity Imperative: Analytics and Data for Engaging Digital Experiences in 2020 and Beyond

Posted by Mark Smith on Jul 5, 2020 6:00:00 AM

Analytics and data provide visibility into an organization’s past, present and potential performance. However, not all organizations are using analytics that provide timely insights — insights that not just reflect what happen but direct a successful course for the future. Demand for personalized and relevant insight only intensifies in a black-swan event. To maintain business continuity in times of pressure, it is critical that organizations not waste any time or resources when using analytics and data to optimize operations and decision-making. Just having an analytics and data-first mentality and operating in the cloud is insufficient for success, as those are just part of an effective data and analytics effort. Organizations also should include data science and machine learning that can provide an excellent digital experience; unfortunately, this is no simple task.

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Topics: embedded analytics, Analytics, Business Intelligence, Collaboration, Internet of Things, IOT, Digital Technology, AI and Machine Learning

The Business Continuity Imperative: The Supplier Relationship and Experience

Posted by Mark Smith on May 10, 2020 6:30:00 AM

Suppliers play a critical role in supporting the operations and processes of every organization. Whether direct or indirect, an organization’s relationship with its suppliers has ramifications that are perilous to underestimate. The imperative to maintain business continuity becomes painfully clear in a global pandemic, and that imperative demands that organizations cultivate excellent supplier relationships.  

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Topics: Sales, Customer Experience, Human Capital Management, Marketing, Office of Finance, Voice of the Customer, Analytics, Internet of Things, Data, Digital Technology, Operations & Supply Chain, Conversational Computing

The Business Continuity Imperative: The Voice and Mission of Your Customer Experience

Posted by Mark Smith on May 3, 2020 3:00:00 AM

Supercharging the customer experience (CX) is more than just an opportunity. It’s essential for every organization that looks to optimize engagement at every moment of the customer journey. In times such as these, when business continuity is a top priority, organizations must address the customer experience, especially if it has not been a focal point of the executive team.

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Topics: Sales, Customer Experience, Human Capital Management, Marketing, Office of Finance, Voice of the Customer, Analytics, Collaboration, Data Governance, Data Preparation, Information Management, Internet of Things, Contact Center, Data, Digital Technology, Digital Commerce, Operations & Supply Chain, Intelligent CX, Conversational Computing

The Revolution in Sales in 2020: Ventana Research Agenda

Posted by Mark Smith on Feb 25, 2020 6:00:00 AM

Ventana Research recently announced its 2020 research agenda for sales, continuing the guidance we’ve offered for nearly two decades to help organizations derive optimal value from business technology and improve outcomes. Chief sales and revenue officers face an imperative to manage the sales organization but they don’t always have the guidance they need to embrace technology and gain the best possible outcomes. As we look forward to 2020 we’re focusing on the selling experience and the applications that simplify processes and tasks across the sales organization.

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Topics: Sales, Analytics, Internet of Things, Data, Product Information Management, Sales Performance Management, Digital Technology, Digital Commerce, Conversational Computing

The Ventana Research Digital Technology Agenda in 2020

Posted by Mark Smith on Feb 13, 2020 6:00:00 AM

Ventana Research recently announced its 2020 research agenda for digital technology, continuing the guidance we’ve offered for nearly two decades to help organizations derive optimal value and improve business outcomes. While we have seen more than four decades of digital transformation in the systems and tools businesses rely on, recent years have yielded transformative approaches to technology that can finally actually change the way people and processes work, rather than just make traditional processes more efficient. 

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Topics: Analytics, Internet of Things, Data, Digital Technology, blockchain, Conversational Computing, AI and Machine Learning, collaborative computing, mobile computing, extended reality

A 360-Degree View of the Customer Journey Can Provide Customer Experience Insights

Posted by Mark Smith on Nov 7, 2019 7:00:00 AM

For interactions with customers to go well, organizations must manage an ever-increasing array of engagement channels. Our research finds that organizations expect to see interaction volumes increase on all channels, especially digital ones such as text-based messaging, chat, mobile and social apps. Unfortunately, the systems that manage these channels are typically disparate and uncoordinated and may not use the same underlying technology. This makes it difficult for organizations to coordinate customer interactions consistently and provide the best possible customer experience.

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Topics: Customer Experience, Voice of the Customer, business intelligence, embedded analytics, Analytics, Collaboration, Data Governance, Data Preparation, Information Management, Internet of Things, Contact Center, Data, Digital Technology, Digital Commerce, blockchain, natural language processing, data lakes, Intelligent CX, AI and Machine Learning, subscription management, agent management, extended reality

The Challenges in Customer Analytics

Posted by Mark Smith on Oct 22, 2019 7:00:00 AM

Today’s intense competition requires that companies know as much as they can about their customers in order to anticipate their needs and deliver a superior customer experience. However, many organizations struggle to do this well. Implementing initiatives to improve customer value across any department or process involving customers requires both in-depth visibility into current operations and excellent metrics.

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Topics: Customer Experience, Voice of the Customer, business intelligence, embedded analytics, Analytics, Collaboration, Data Governance, Data Preparation, Information Management, Internet of Things, Contact Center, Data, Digital Technology, Digital Commerce, blockchain, natural language processing, data lakes, Intelligent CX, Conversational Computing, AI and Machine Learning, collaborative computing, mobile computing, subscription management, agent management, extended reality