Member Praful Saklani Speaks: Technology in a Luddite’s Industry
The Challenge:
The case at hand was brought by a CEO in an industry with weak technology adoption and a history of poor employee retention. He was looking for strategies to differentiate himself from his competitors and better retain his sales force. Here’s what Praful Saklani, Co-Founder & CEO of Pramata, shared with his Alliance peers.
If you were in this situation, what would you do?
“Tilt the playing field in your favor by adopting advanced technologies to gain even more valuable business insights.”
Since your industry doesn’t actively embrace technology, you have a lot of green grass to work with. It’s worth the investment: deploy sophisticated technology immediately to achieve an enduring strategic advantage.
We’ve already discussed the competitive advantage your business gained by adopting an enterprise CRM. Yet, your competitors don’t even know what a CRM does, let alone the other possibilities that now exist in the age of interconnected data sources. If I were you, I’d tilt the playing field in your favor by adopting advanced technologies to gain even more valuable business insights. These insights can dramatically increase your business’ bottom line – and the size of your sales people’s commission checks. There’s no better way to keep your sales force motivated and loyal than to give them the sophisticated tools to outfox the competition and close deals. Employee retention issues will quickly fade.
As someone who’s been in the Enterprise Software industry for years, I’ve seen countless companies gain real competitive advantage by leading the technology adoption curve. New advances in enterprise software and big data are helping to advance business objectives on multiple fronts: selling more, retaining customers, mitigating risk, reducing cost – you name it.
The leading companies of today are constantly mining new data sources and leveraging this information to facilitate highly optimized interactions with the customer. This can be a real competitive and strategic advantage.
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The Alliance of Chief Executives is an active community of business leaders that focuses on deep strategic exchanges, challenging existing assumptions and generating fresh ideas.
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