Podcasts about forrester research inc

What is the future of buying and selling? How do marketing and sales approach digital native decision-makers? That is the topic of this episode of the Modern Marketing Engine with my guest, Dave Boyce. Dave is the Chief Strategy Officer, XANT, where he divides his time between corporate development, corporate strategy, and operational strategy. He is also a board member of Forrester Research Inc. since 2017. This episode was inspired by two articles that Dave published on LinkedIn: The Future of Buying The Future of Sales Join us in this conversation to learn why marketers must understand the modern buyer. The Journey of the Modern Buyer Both marketers and sellers must be aware of the changes to their buyer personas in the past year.  Today, our buyers are sitting in their living room, the people who are signing purchase orders are at home, almost nobody is at an office. That means that almost everyone involved in the decision process is using digital channels to research potential suppliers. Dave says the modern buyer is a digital native. That means that: They will do independent research online about our products and our competitors They don’t like to fill out forms so they will rely on ungated content They trust their network and will ask other people for recommendations and experiences After the steps described above, the buyer is now 60% to 70% of their way towards understanding their options. “The remaining amount of her journey,” Dave says, “she's going to have to do collaboratively with the sales team. But her silent partner during that 70% of her journey was our marketing team. Not that they were talking to her, but they were publishing and orchestrating and curating a learning journey that was either easy to use and therefore she really leaned into it or is less easy to use and therefore she learned from our competitor.” Marketing needs to focus on providing a great experience during the modern buyer’s journey, even if it means ungating content.  Dave says that instead of collecting information through forms, marketers can use technology like intent signals. This technology tracks searches from domains to know when people from certain companies are searching for specific terms related to your solutions. Then it can flag your CRM so you can do outreach to existing contacts from those companies. The Modern Seller In the US, 56% of the B2B sales force were field sellers. But with now remote selling being the norm, those sellers are either out of a job or doing something different. And the truth is that buyers like the new normal and don’t want to go back to the old field sales model. “The buyer doesn't want protracted exchanges with the salesperson,” Dave says. “They don't want to retreat again from acquiring information digitally. They don't want us to force them into the conference room to have a stakeholder meeting with a white board. They actually like the way it's working right now and it's better for everybody. If we're honest with ourselves as salespeople, we're more efficient. If we're not spending our time navigating airports and trains and cabs and Ubers and instead we're on the job of selling most of our time. So it's not going back. We have to figure out how to lean into the future and do it faster than our competition.” Sales leaders must now focus on modernizing their sales teams with the five modern seller attributes: Fast (answering to their messages quickly) Always-online (engage the buyer when they want to engage) Customer-centric (being empathetic, sympathetic and helpful) Content-rich (adding value with information that is helpful to the buyer) Technology-enabled (it's not just Zoom and LinkedIn but the entire marketing and tech stack, including a CRM and sales prospecting tools) “It's all about being where the buyer is and being a resource to the buyer,” Dave says. Don’t miss this episode to hear some great insights from Dave about the role of the modern seller.

The Podcast for Business Network Support: Jay McBain, Forrester Research Inc. Jay is the principal analyst for global channels, partnerships and ecosystems at Forrester. Today we go behind the numbers to discuss the future of tech as we emerge from COVID-19. ======= Check out some of Jay’s insights: IT Providers and MSPs can expect a […]

One area that has bedeviled Chief Compliance Officers (CCOs) and compliance practitioners is how to determine the return on investment (ROI) for your compliance program regarding third parties. While it is still clear that third parties are the greatest risk in Foreign Corrupt Practices Act (FCPA) enforcement actions, senior management often wants to know what is the monetary benefit to the company for this type of risk management.  When you couple the request for ROI with the recent Department of Justice (DOJ) mandate for the operationalization of your compliance program, as articulated in the Evaluation of Corporate Compliance Programs, it may seem like a doubly daunting task. However the requirement for operationalization of your compliance program actually lends itself to formulating ROI around the risk management of third parties. This is because if you move the third-party compliance into the organization as a business process, with a technological solution, the ROI becomes not only clearer but easier to calculate going forward.  I recently read a study by Forrester Research Inc., suggested an approach for the anti-corruption compliance practitioner. In this study, Forrester compared the user experience, leading to a finding of a positive ROI for the technology user around third-party risk management. I found the approach and methodology used persuasive and valuable for the compliance professional to consider in evaluating such a process in your organization.  Some of the key findings readily translate across for the anti-corruption compliance practitioner. The first area was in risk assessments of third parties. If you are able to provide a technological platform, you can enhance both the speed and efficiency of your risk assessments on an ongoing basis. The decrease in time it would take for each risk assessment, both in terms of length and compliance department man-hours will yield an immediate cost saving for your compliance function.  Consider just two of the steps required in the lifecycle management of third parties, the questionnaire and due diligence. Both steps can be not only labor intensive to complete and analyze but the cycles of time spend sending out a questionnaire, receiving a completed form and then inputting the information into a spreadsheet for manual analysis can be quite time consuming. It usually involves the basic tools of spreadsheets, interviews, Internet searches and additional questionnaires. By tailoring your questionnaire to the specific risk areas and using logical question design you can reduce confusion and therefore decrease the cycle of response time. Additionally, in the final step of managing the relationship there is often not only a dearth of data but usually the data is in such a siloed format that (1) it cannot be utilized between corporate functions and (2) there can be no meaningful comparison across the third parties. Through standardized questions and responses, this data can be compared across the spectrum of third parties.  In addition to the increased efficiency in the compliance portion of this analysis, by operationalizing your third-party risk management in this manner, you increase business efficiency by bringing in more dollars more quickly for third parties on the sales side. For third parties on the Supply Chain side, the efficiencies turn on your use of their products or services more quickly in business critical elements of your company. Simply put, approving third parties and incorporating them into your business cycle will not only save your money more quickly and efficiently but also make you money more quickly and efficiently.   Using a tool that incorporates Software-as-a-Service (SaaS) platform would also allow a more comprehensive review of data and information for several reasons. Firstly the various types of data is not siloed but stored in a centralized platform. Second, having this type of data allows for not only an ongoing review of each third-party but also allows you to review historical trends. This enables you to move from detection to prevention and possibly even delivery of a prescriptive solution before an issue arises to a full-blown FCPA violation. You would also be able to garner a better understanding of relationships across industry sectors and countries with a bigger picture look.   Obviously you will need to set the parameters for the risks to be assessed but more clearly in the FCPA they deal with third parties who are or who have, as owners, Politically Exposed Persons (PEPs), the inability to account for discretionary funds such as marketing or other expenses was seen in a recent FCPA enforcement action, payments to offshore locations or unusual commission or other payments tied 100% to sales. Not only would your company have more and greater visibility into such issues but the range of third parties you could monitor would increase, perhaps at an exponential rate. As with the cost savings of the initial risk assessment, there would be similar savings for ongoing monitoring in the area of greater efficiency and need for smaller headcount from the compliance function to perform such ongoing monitoring. The speed and robustness of this database is a key element in operationalizing your compliance program in the area of third parties. The prevent component of any compliance regime is improved as you would have better visibility into potential non-compliant third parties which you may have to discharge. You would also have the ability to work with non-compliant third parties to remedy any issues before they become legal violations and then recommend extra monitoring as appropriate.  Using the above as a guide the ROI calculation would be something along the lines of the number total number of hours spent on each risk assessment x the total risk assessments performed x the hourly rate of the compliance professional performing the services. So if you spend 20 hours on 50 risk assessments and the hourly rate for your in-house compliance professional is $100, the ROI is $100,000. Now just think of what that number would be around third parties if the SC third parties runs into the thousands. Even with a round number of 1,000 for such third parties, your ROI increases to $2MM. Of course you have to subtract out the cost for any technological solution but with these types of efficiencies, your ROI will still be quite impressive.   There are a wide variety of other factors that could increase your ROI, as detailed in the Forrester report, which include renewal assessments, ongoing monitoring, increase in business efficiencies for both your organization and the third parties, which would all work to uplift your ROI. Most critically you would demonstrate the operationalization of your compliance program into the very fabric of your organization.   Three Key Takeaways Why is it important to demonstrate ROI on your third party risk management program? Determining your ROI helps to demonstrate operationalizing your compliance program. Determining third party management program ROI can help to tear down compliance siloes.  This month’s podcast series is sponsored by Opus. Opus helps free your business from the complexity and uncertainty of managing the risks associated with your customers, vendors, and third parties. By combining the most innovative Third-Party Risk Management and Know Your Customer Compliance SaaS platforms with unparalleled data solutions, Opus turns information into action so your business can thrive. Opus solutions include Hiperos 3PM accelerator, the leading platform for third party risk management. To learn more, go to www.opus.com.         Learn more about your ad choices. Visit megaphone.fm/adchoices

The Britt Technology Impact Series began its look at embedded technology and constant consumer connectivity — what we're calling the Internet of You — with a snapshot of a 21st century company. Smart technology is transforming enterprises by bringing connectivity to once-isolated systems and devices. In this new enterprise, machines talk to each other and react to information as conditions merit. The arrival of smart tech to what had been internet-free precincts is not just changing how enterprises operate but also the goods they produce and the services they provide. Companies are weaving internet-connected devices into everything from shoes to egg cartons to diapers. The result is a far more complex web of connections among companies, devices, products and consumers. Christopher Mines, SVP of Business Technology Futures at Forrester Research Inc., served as cartographer for this tantalizing new landscape.

Christopher Mines, SVP of Business Technology Futures, Forrester Research The arrival of smart tech to what had been internet-free precincts is not just changing how enterprises operate but also the goods they produce and the services they provide. Companies are weaving internet-connected devices into everything from shoes to egg cartons to diapers. The result is a far more complex web of connections among companies, devices, products and consumers. Christopher Mines, SVP of Business Technology Futures at Forrester Research Inc., served as cartographer for this tantalizing new landscape.

This week, we chat with Sarah Rotman Epps, senior consumer product analyst with Forrester Research Inc., about just how big the tablet market will get and how other tablet makers are attempting to topple Apple Inc. with its market dominating iPad. We also speak with Dave Evans, chief futurist at Cisco Systems Inc., on the “perfect storm” he envisions brewing for the coming tablet-filled world and what that will mean for society.