The financial planning and analysis (FP&A) group is the linchpin of any transformation effort in the Office of Finance. Our recently completed Office of Finance benchmark research was conducted against the backdrop of the idea that finance organizations must play a more strategic role in the management of the modern organization. This transformation envisions a finance department that’s more of a partner to the rest of the company — one that is less focused on “bean counting,” instead directing its resources and energy to providing more insightful analytics, facilitating transactions of value and communicating actionable data analyses that enable managers to make better decisions more consistently. The research uncovered advances in how corporations handle analytics as well as budgeting and planning. Yet the research also indicates that there is much left to be done in most companies.
Using customer analytics effectively involves several challenges. Organizations must make it a business priority, cultivate leadership and set a course for ensuring data and analytics are being processed and governed effectively. But effectiveness also requires technology that will assist in the effective operations and management of customers and help an organization achieve its goals.
Topics: Customer Experience, Voice of the Customer, embedded analytics, Analytics, Business Intelligence, Collaboration, Data Governance, Data Preparation, Information Management, 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
I am happy to share some insights from our latest Value Index research, which rates how well vendors’ offerings meet buyers’ requirements in seven categories, five relevant to the product (adaptability, capability, manageability, reliability and usability) and two related to the vendor (TCO/ROI and vendor validation). The Ventana Research Value Index: Sales Performance Management 2019 is the distillation of a year of market and product research efforts by Ventana Research. Drawing on our benchmark research and expertise, this research-based index is the first such evaluation to assess the full business value of sales performance management software. You can learn more about our Value Index as an effective vendor selection and RFI/RFP tool here and participating vendors can learn more about how to use the Value Index here.
Topics: Sales, Customer Experience, Office of Finance, Analytics, Contact Center, Data, Sales Performance Management, Financial Performance Management, Digital Technology, Digital Commerce, Predictive Planning, Conversational Computing, AI and Machine Learning, collaborative computing, mobile computing, subscription management, agent management, intelligent sales
Configure, price and quote (CPQ) software has been around for decades. Lately, I’ve been using the term “Dynamic CPQ” to apply to a variant of this software category that explicitly aims to produce a quote that optimizes the trade-off between the profitability of a deal and the probability of closing a sale. Dynamic CPQ software is a hybrid of price and revenue optimization (PRO) software and CPQ, providing companies with the ability to better execute their market share and pricing strategies. It’s designed especially for business-to-business (B2B) relationships that involve sales agents in the pricing process.
Topics: Customer Experience, Office of Finance, Data Preparation, Information Management, Sales Performance Management, Financial Performance Management, Price and Revenue Management, robotic finance, revenue and lease accounting, sales enablement
Customer analytics have never been more important, but effectively creating and managing them is not easy. The data that’s required to achieve visibility into all customer activity involves many applications and systems and it’s a challenge to ensure the data used is accurate and consistent. Even once data is assembled, organizations often struggle to apply analytics to create the metrics that best represent an understanding of the past and, more importantly, the path to the future.
Topics: Customer Experience, Voice of the Customer, embedded analytics, Analytics, Business Intelligence, Collaboration, Data Governance, Data Lake, Data Preparation, Information Management, Contact Center, Data, Digital Technology, Digital Commerce, blockchain, natural language processing, Intelligent CX, Conversational Computing, AI and Machine Learning, collaborative computing, subscription management, agent management, extended reality