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SocialCode Acquires Marketplace Strategy, an Amazon Sales Agency

Acquisition Bolsters SocialCode’s Full Service Offering on Amazon, Walmart, Jet.com, Home Depot, and Wayfair

SocialCode, the leader in digital media marketing solutions, today announced it has acquired Marketplace Strategy (MPS), a Cleveland-based leading Amazon sales acceleration agency. With a proven capability on most of the major social platforms, including Facebook, Google and YouTube, SocialCode is accelerating its Amazon offering with this acquisition.

Amazon’s growing advertising business is in high demand for marketers. Credibly servicing clients on Amazon requires a skill set beyond traditional ad management. MPS is a company designed to maximize a brand’s impact and revenue across Amazon and other leading retail marketplaces.

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SocialCode’s acquisition of MPS demonstrates its commitment to offering a 360 degree solution to its customers, particularly those in the retail and CPG space who are looking to leverage Amazon’s thriving platform.

“Our mission is to be the world’s most effective growth partner for the global brands of today and tomorrow,” said Laura O’Shaughnessy, chief executive officer of SocialCode. “Amazon is a critical offering for our brand partners. This acquisition rounds out our capabilities with a full complement of services and brings us the uniquely experienced customer service professionals that have deep knowledge of the Amazon platform, as well as Walmart.com, Jet.com, Home Depot and Wayfair.”

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MPS’ cutting-edge approach incorporates a wide array of established and proprietary strategies. This includes everything from Amazon account creation, conversion optimization, product traffic acquisition, and Amazon advertising management right through to Amazon data and analytics as well as Amazon business consulting services. MPS works with leading companies like Nestle, Jack Links, Snapple and Starkist to build their brands and sales on Amazon.

“Our integrated Amazon solution, coupled with SocialCode’s existing offerings and industry reputation, makes for a perfect pairing between our two companies,” said Drew Kraemer, chief executive officer of MPS. “More importantly, there is clear alignment with our vision for the future and shared cultural values.”

MPS will operate as a business unit within SocialCode for customers that want to run Amazon and other marketplaces (Walmart/Jet.com) alongside social. The two companies will also integrate campaign reporting so customers can have a true cross platform view of their campaigns.

Web.com Announces Amended Agreement to be Acquired by an Affiliate of Siris Capital Group, LLC for $28 Per Share in Cash and End of “Go Shop” Period

Web.com Group, Inc. (NASDAQ: WEB), a leading global provider of a full range of Internet services and online marketing solutions for small businesses, today announced an amended agreement with affiliates of Siris Capital Group, LLC to purchase all of the outstanding common stock of Web.com for $28 per share in cash through a merger.  In addition, the “go-shop” period provided for under the terms of the previously announced merger agreement between the company and affiliates of Siris Capital Group, LLC has expired.

During the “go-shop” period, Web.com and representatives of BofA Merrill Lynch and J.P. Morgan, two financial advisors to the board of directors of Web.com, engaged in a broad solicitation of strategic and financial parties potentially interested in pursuing an alternative transaction with the company.  Out of approximately 87 parties who were contacted, nine executed non-disclosure agreements and were provided access to non-public information about Web.com.

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The company received an acquisition proposal from one financial bidder which the transaction committee of the board of directors, in consultation with the company’s independent financial and legal advisors, determined in good faith was a superior proposal compared to the original merger agreement between the company and affiliates of Siris. Under such merger agreement, such affiliates of Siris had a matching right that resulted in several rounds of negotiations with such other financial bidder and ended with the company and such affiliates of Siris entering into an amended and restated merger agreement.  The board of directors approved this amended and restated merger agreement.  Under the terms of the amended and restated merger agreement, the financial bidder may continue to work with the company and put in a topping bid.  In the event Web.com accepts a higher offer from another bidder (including such financial bidder), in accordance with the terms of the amended and restated merger agreement, the company would be required to pay an affiliate of Siris a termination fee of $39.1 million.

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The transaction with Siris’ affiliates is expected to close in the fourth quarter of 2018, subject to approval by Web.com’s stockholders, along with customary closing conditions.  Upon completion of the acquisition, Web.com will become wholly owned by an affiliate of Siris.  As previously reported, on July 20, 2018, the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), in connection with the merger with an affiliate of Siris. Early termination of the waiting period under the HSR Act satisfied one of the conditions to the closing of the merger with an affiliate of Siris.

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Edgewater Fullscope Achieves the 2018/2019 Inner Circle for Microsoft Business Applications

Fullscope Named to Prestigious Microsoft Inner Circle for the 13th Time

Edgewater Fullscope is honored by Microsoft for achieving outstanding sales achievement and innovation.

Fullscope, Inc., a wholly-owned subsidiary of Edgewater Technology, Inc. (NASDAQ: EDGW) (“Edgewater Fullscope”) and leading provider of Microsoft Dynamics 365 (formerly Dynamics AX and CRM), Business Intelligence and Microsoft’s modern technology platform,  has achieved the prestigious 2018/2019 Inner Circle for Microsoft Business Applications. Membership in this elite group is based on sales achievements that rank Edgewater Fullscope in the top echelon of the Microsoft’s Business Applications global network of partners. Inner Circle members have performed to a high standard of excellence by delivering valuable solutions that help organizations achieve increased success.

This recognition of Inner Circle for Microsoft Business Applications came during Microsoft Inspire, the annual premier partner event, which took place July 15-19, 2018, in Las Vegas, NV. Microsoft Inspire provides the Microsoft partner community with the opportunity to learn about the company’s road map for the upcoming year, establish connections, share best practices, experience the latest product innovations and learn new skills.

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“Each year we recognize Microsoft Business Applications partners from around the world for delivering innovation and driving unsurpassed customer success,” said Cecilia Flombaum, Senior Director, Microsoft, One Commercial Partner organization. “Our Inner Circle members are chosen based on their business performance as well as capabilities as an organization, whether that’s creating IP, developing solutions, or having an industry leading focus on digital transformation. Microsoft is honored to recognize Edgewater Fullscope for their achievements this past year, their dedication to our customers, and their innovation around the Microsoft Cloud.”  

Edgewater Fullscope is dedicated to supplying valuable solutions that help customers achieve a competitive advantage by working with them to identify the best solutions and services that accommodate their business needs while excelling in customer satisfaction. By collaborating with the teams at Microsoft, Fullscope maintains a strong expertise of the Microsoft platform to provide innovative solutions, strong services and unparalleled value to their customers.

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Edgewater Fullscope provides implementation, training and consultation in North America and Europe for small, midsize and corporate businesses using business enterprise applications. Fullscope specializes in Microsoft ERP, CRM, BI, Azure and digital solutions and services on premise or in the cloud that help leading global companies across industries get to market faster and achieve continued success.

“It is an absolute honor to be recognized by Microsoft as a top performing partner,” said Russell Smith, President of Edgewater Fullscope. “We are dedicated to providing our customers with solutions that transform their businesses for the better and help them achieve their target outcomes. Being recognized as an Inner Circle partner is always a goal of ours, so having this honor for the 13th year is something we are so grateful to achieve.”

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Acronis Announces Partnership with Microsoft, Expands Service Provider Opportunities with Microsoft Azure

New strategic partnership helps Acronis expand access to public cloud, providing customers with a greater choice for backup storage and disaster recovery.

acronis-_-MicrosoftAcronis, a global leader in hybrid cloud data protection and storage currently celebrating its 15-year anniversary, today announced a new strategic partnership with Microsoft for deeper integration of Acronis’ data protection products with Microsoft’s Azure cloud services.

Acronis provides complete data protection for all Microsoft workloads (including workstationsservers, applications and mobile devices), helping customers, resellers and service providers leverage the full power of Microsoft’s technology stack. Acronis also can backup Microsoft Azure workloads, with Acronis Backup and Acronis Backup Cloud.

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The new partnership will allow customers and service providers to even more easily store their data or clients’ data in the Azure cloud. Azure will be available as a storage destination option alongside Acronis Cloud and other public cloud vendors in future versions of Acronis products.

Today, Acronis partners and customers use Azure’s capacity for storing data, but it requires manual installation and configuration of the Acronis Backup Gateway. Acting on customer and partner requests, Acronis and Microsoft are working together on providing native integration of Acronis solutions with Azure services.

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Service providers can choose to buy their Azure storage directly from Microsoft, or Acronis can include the Azure storage costs as part of a single invoice.

Native integration of Acronis’ data protection solutions with Azure will make Azure-based service more attractive and will help Microsoft partners drive more revenue. Service providers will be able to complement their Azure-based product offerings with Acronis’ easy, fast, and reliable data protection solutions augmented by Acronis Active Protection, an artificial intelligence-based defense against ransomware attacks. Together with Acronis, they will be able to drive more Azure usage and generate additional revenue by upselling data protection services to existing clients and using Acronis’ complete data protection as a differentiator in the crowded market space.

The partnership with Microsoft is part of Acronis’ overall strategy to support all workloads, delivering safety, security, accessibility, privacy and authenticity for data stored in local, cloud and hybrid environments.

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By delivering full support of more than 20 platforms, native integration with PSA and RMM tools, and growing support of public cloud vendors, Acronis enables service providers to make the most out of their existing cloud arrangements.

“A lot of products that we build deliver value to clients using Microsoft technology,” said Acronis President John Zanni. “With easy, reliable and efficient backup and built-in security in the form of active protection against ransomware, our clients enjoy complete protection of their data. Adding Azure as a native storage destination increases their options, making Acronis solutions even more attractive to use. For any organization that has built their strategy on Microsoft, this is great news.”

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Judy Meyer, General Manager, ISV partners at Microsoft, agrees: “It’s great to see how Acronis is transforming the services it offers to its customers, innovating in anti-ransomware and data protection. Microsoft and Acronis have worked closely together over several years in planning the adoption of public cloud services as part of Acronis’ portfolio, and we’re delighted to see the progress that’s been made in using Azure and the Microsoft AI platform.”

Acronis’ partnership with Microsoft will extend beyond Azure integration. The two companies will join forces extending the artificial intelligence (AI) functionality of Acronis Active Protection — an innovative technology that has already prevented over 200,000 ransomware attacks across 180,000 consumer devices in the past 12 months.

The partnership has already inspired joint research, for example, discussing applications of Hierarchical Attention Neural Network for sequence classification to detect malware without executing the malware code, as published in the Microsoft Developer Blog.

“Microsoft has invested decades of research into artificial intelligence including; cognitive services, conversational AI, Machine Learning tools and more….and has built the global cloud platform to help our customers make use of these powerful AI technologies. By using the Microsoft Azure cloud platform and AI Tools/Services with the Acronis Backup service, Acronis will be able to work on bringing valuable analytics services to market, so their customers can understand and manage their data much more effectively,” commented Steve Guggenheimer, Vice President of Business AI at Microsoft.

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Timetrade B2C Survey: Successful Customer Engagement with Today’s Buyers Starts with In-Person Appointments

Connecting buyers to knowledgeable store associates produces more sales, deeper brand loyalty

TimeTrade, the leading provider of Intelligent Appointment Scheduling, today released results from its latest research on the state of the B2C buying experience, with data revealing that today’s brands should use appointment scheduling to secure the personalized in-person buying experiences expected by today’s on-demand consumers.

Results from the survey – “What Buyers Want: The State of the B2C Buyer Experience” – indicate that buyers demand increased engagement from companies, specifically in ways that make it easier for them to interreact and schedule meetings. On the other hand, respondents confirm that a poor in-store experience, such as when a company fails to connect buyers to a knowledgeable store associate in a timely manner, will likely result in missed opportunities for greater sales and loyalty.

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Moreover, buyers indicate that they want to learn about potential purchases – making experiential marketing efforts such as class- and event-based programs an essential part of any B2C push by consumer-facing brands.

“It’s clear that scheduling appointments and attending events & classes leads to the type of customer engagement that meet the expectations of today’s on-demand consumers, and yet consumers tell us they continue having difficulty scheduling time with brands,” said Gary Ambrosino, CEO of TimeTrade. “The survey data show that the time is now for brands who want to take advantage of the engagement opportunity afforded by live interactions and differentiate themselves in a competitive setting.”

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Brands still leaving B2C sales revenue on the table 

B2C sellers understand that without prompt, professional customer service, companies risk losing customers – particularly in today’s on-demand economy. And yet B2C sellers continue to fall short when it comes to meeting this customer expectation, according to TimeTrade’s survey data. When visiting a store or bank, fully 50 percent of respondents indicate that they “Always” or “Frequently” have difficulty getting assistance from a knowledgeable associate in a timely manner. The result? No sale, with 74 percent of respondents saying they will leave without making a purchase. Simply by scheduling an appointment with would-be buyers, brands can avoid this disconnect – and align with the 83 percent of TimeTrade respondents who say they are either likely or very likely to schedule an appointment with a company they may buy from.

The right buying experience: uncomplicated, reliable, pleasant 

Today’s consumers want to engage with companies when they want, and how they want – across channels. Whether it’s online, mobile, app, or by phone, B2C sellers must deliver engagement options that reflect consumer preferences – or they will go elsewhere. Consumers looking for personal shopping services strongly endorse the importance of live meetings and appointments – 69 percent of survey respondents said these were important – and shoppers across industries share this view. Whether it’s a buyer looking for technology products or services (84 percent), financial services (92 percent), or banking products (87 percent), today’s B2C buyers clearly value the ability to schedule an appointment and get the service they expect from a potential seller – where and when the buyer wants it.

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Experiential Marketing: A new form of customer engagement 

Another way that brands are creating direct connections and more meaningful relationships with consumers is through experiential marketing that directly engages buyers through in-person, and often in-store, brand experiences like events or classes. TimeTrade’s survey results support this opportunity to accelerate and convert buyer interest: 79 percent of buyers say it is important to be able to attend events or classes to learn more about a product or service prior to purchasing. Buyers are also more likely to buy, or buy more, if a brand offers events or classes relating to the product.

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The new role of search: driving customers to physical locations 

Last year’s launch of Reserve with Google empowered consumers to discover and book personalized appointments and classes in retail stores and local businesses. Given the frequency of consumer search – 90 percent of TimeTrade survey respondents say they use online search “frequently” or “all the time” to find stores/banks – this creates a truly expedited and seamless buyer’s journey. It also creates a new opportunity for brands to exploit: consumers now expect search results to produce an immediate booking for a personal appointment – that is, a scheduled live interaction – between a buyer and a knowledgeable associate of that nearby store.

“B2C selling organizations must realize that buyers want answers to their questions, and they want to work with companies who offer appointments as a means to interact with knowledgeable employees who can personalize the entire purchase path at the click of a button,” said Gary Ambrosino, CEO of TimeTrade. “The survey data show that B2C customers will spend more when they get the right service, and will walk away without purchasing when brands fail to personalize their customer engagement strategies.”

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Plex Systems Appoints Fred Hehl Chief Sales Officer

Proven leader brings two decades of global manufacturing, cloud software, and IIoT experience to Plex

Plex Systems, the leader in cloud ERP and MES for manufacturing, today named technology industry veteran Fred Hehl its chief sales officer, responsible for leading the company’s sales strategy and execution worldwide. He brings more than 20 years of experience in manufacturing enterprise technology and providing mission critical cloud systems to businesses around the globe.

Prior to joining Plex, Hehl led direct and channel sales at PTC, with responsibility for the company’s entire portfolio of solutions, including Industrial Internet of Things (IIoT) and PLM solutions, and the partner network, in the Americas and EMEA. Most recently, he ran global sales at Relativity, an e-discovery platform company, and for the leading business division of BMC, a multi-cloud management software firm.

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Hehl holds a bachelor’s in business administration and management from Albion College.

Comments on the News

“Fred brings deep enterprise software experience, an understanding of what manufacturers need to run their businesses, and a track record of scaling global teams,” said Don Clarke, interim chief executive officer for Plex Systems. “Plex couldn’t ask for a better executive to catalyze Plex’s market leadership and long-term growth.”

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“Plex is known for transforming manufacturing in the cloud, helping customers innovate and grow while redefining quality and efficiency,” said Hehl. “This is an exciting time in manufacturing, as IIoT and cloud computing converge to fuel a new era of innovation, and I couldn’t be happier to join the Plex team.”

“Plex is at the center of technology innovation in manufacturing, representing a multi-billion-dollar opportunity to move MES and ERP into the cloud to realize the potential associated with Industry 4.0,” said Petri Oksanen, partner at Francisco Partners and Plex Systems lead board director. “We are thrilled to welcome Fred and his high caliber of manufacturing and cloud experience to the Plex leadership team.”

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Dynamic Yield Scoops $32 Million in Series D Funding to Head into First Personalization-Anywhere Space

Dynamic Yield Recently Named Leader by Gartner 2018 Magic Quadrant for Personalization Engines

Dynamic Yield, the AI-powered omnichannel personalization engine, today announced it raised $32 Million in Series D funding led by Viola Growth, with participation from Union Tech Ventures. The funding will enable Dynamic Yield to power individualized experiences beyond web — across kiosks, call centers, POS systems, IoT devices and more as the company sets its sight on becoming the industry’s first personalization anywhere platform. This round brings the company’s total funding to $77 million.

Recently, in its research entitled Predicts 2018: Brand Relevance Under Fire, Automation on the Rise, Gartner estimates that “by 2018, organizations that have fully invested in all types of online personalization will outsell companies that have not by more than 30%.” And in its first ever 2018 Magic Quadrant report on Personalization Engines, Gartner evaluated 18 solution providers in the market, where it positioned Dynamic Yield the highest and furthest for its ability to execute and completeness of vision in the Leaders’ quadrant.

At the time of this funding announcement, Liad Agmon, CEO and Co-Founder of Dynamic Yield, said, “At a time when Amazon Go stores already let shoppers check-out with their smartphones and nearly all airlines have switched to self-service check-in kiosks, it’s hard to imagine a future where almost every customer interaction isn’t personalized.”

Liad added, “The truth is, these technologies of the ‘future’ aren’t as far from ubiquity as we may think, and that’s why becoming a core component in experience delivery for brands is the vision for Dynamic Yield as we continue to build a platform that meets the demands of an increasingly connected world.

The latest investment will help to accelerate product innovation in the form of a comprehensive set of personalization APIs, enabling businesses to personalize every digital channel and customer touchpoint at scale. In addition, the round will fuel the expansion of an already vast partner network, doubling down on integrations similar to that of Salesforce Commerce and Marketing Clouds which allows mutual clients to sync and personalize all points along the customer journey.

Natalie Refuah, Partner at Viola Growth, said, “Capitalizing on the global digitization trend, e-commerce growth, and personalization as a must-have capability, Dynamic Yield brings a unique, end-to-end personalization platform. With its differentiated capabilities, it has succeeded in acquiring hundreds of global customers, including many of which are top-tier brands.”

Natalie added, “This funding, together with the company’s great technology, skilled entrepreneurs and one of the best management teams we have seen, will allow it to maintain its leadership position in the personalization market, to tap into other verticals, and to continue developing its state-of-the-art technology.”

Dynamic Yield’s unique personalization technology combines machine learning and predictive algorithms to build customer segments, enabling marketers to increase revenue via personalization, recommendations, automatic optimization & 1:1 messaging across all digital channels including email, web and mobile apps. The platform customizes experiences for more than 600 million users each month for its 200+ brands such as HelloFresh.

“At HelloFresh, experimentation is at the core of everything we do and Dynamic Yield has enabled us to truly optimize online customer journeys,” said Eleanna Smpokou, Senior Product Performance Manager at HelloFresh.

Eleanna added, “Whether we’re meeting a user for the first time or engaging with loyal subscribers, Dynamic Yield provides us with the tools we need to deliver the freshest possible experiences.”

Currently, Dynamic Yield’s AI-powered omnichannel personalization engine helps marketers increase revenue by automatically personalizing each customer interaction across the web, mobile web, mobile apps and email. The company’s advanced customer segmentation engine uses machine learning to build actionable customer segments in real time, enabling marketers to take instant action via personalization, recommendations, automatic optimization & real-time messaging – in a single platform.

Dynamic Yield personalizes the experiences of more than 600 million users globally and counts industry leaders like IKEA, URBN Brands, Ocado, and Stitch Fix among its many customers. Based in New York, the company has more than 180 employees in six offices worldwide.

TIBCO Brings Edge Innovation to Customers and Partners at its Global User Conference

TIBCO NOW 2018 Enables Organizations to Align Digital Transformation Implementation with Business Strategy

TIBCO Software Inc., a global leader in integration, API management, and analytics, today announced its upcoming global TIBCO NOW® conference will be held at Las Vegas’ ARIA Resort & Casino from September 4-6, 2018.

According to PwC research, more than 50 percent of executives admit they struggle to align innovation strategy with business strategy. With the conference theme “Innovation at the Edge,” TIBCO NOW 2018 will offer the tools to tackle this disconnect and increase attendees’ knowledge of innovation. The conference will also provide attendees with practical applications for enabling digital transformation with the TIBCO® Connected Intelligence Cloud, a unified set of services and capabilities that provides an entirely cloud-based experience.

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“As technology and data provide more opportunities to innovate, companies are learning that this change is no longer optional,” said Thomas Been, chief marketing officer, TIBCO. “Leading with innovation is the key to staying ahead of the competition. This year at TIBCO NOW, we will explore what it takes to lead with innovation, and how the TIBCO Connected Intelligence Cloud drives digital transformation and build innovative organizations that utilize AI, IoT, and blockchain across industries such as financial services, healthcare, manufacturing, and more.”

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In addition to keynotes and hands-on trainings delivered by TIBCO executives, product experts, and customers, thought leaders from around the world will showcase new features and share their innovation success stories with attendees, from executives to developers. Conference highlights include:

  • Special keynote presentations from influencers such as Jean Michel Arès (Bank of Montreal), B. Joseph Pine II(Strategic Horizons LLP), and Peggy A. Whitson, Ph.D. (Former NASA Astronaut);
  • Keynote presentations from TIBCO executives, including Murray Rode (CEO), Matt Quinn (COO), Thomas Been(CMO), and Nelson Petracek (CTO);
  • Over 100 breakout sessions and customer demonstrations from companies like U.S. Bank, University of IowaHospitals & Clinics, Beacon United, CyberLogitec, De WaterGroep, and Fannie Mae, explaining how they have optimized operations with the latest TIBCO offerings to drive business growth;
  • Hands-on training and exploration into innovative technologies including artificial intelligence (AI), blockchain, and Internet of Things (IoT); and
  • Networking sessions with TIBCO’s global partner ecosystem.

The event will also include the presentation of the fifth annual TIBCO Trailblazer Awards, honoring customers who have strategically implemented TIBCO technology into their business practices.

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SPLICE Software’s Dialog Suite Shortlisted for Business Intelligence Category in SaaS Awards

SPLICE Software is a finalist in the 2018 SaaS Awards Program in the category of Business Intelligence or Analytics.

With awards for excellence and innovation in SaaS, the Software-as-a-Service Awards program accepts entries worldwide, including the US, Canada, Australasia, UK and EMEA. The SaaS Awards program is now in its third year of recognizing and celebrating innovation in software.

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Categories for the 2018 awards program include Best Data-Driven SaaS Product, new categories for SaaS security and ticketing and events management, and the hotly-contested Best Enterprise-Level SaaS Product.

Categories for Best Enterprise-Level Product, Best Product for Small Business, Best Product for Productivity and Best Data-Driven Product also include non-US categories to highlight the growing number of international innovators in the cloud space.

“For SPLICE Software’s Dialog Suite and Data-Driven Dialogs® to be shortlisted in the Business Intelligence or Analytics category is clear evidence of our innovation and success in the global marketplace for voice-based solutions,” said Tara Kelly, President & CEO. “As voice continues to expand as the user interface of the future, we’re committed to giving businesses even more control of their unique brand voice in the marketplace.”

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SaaS Awards and Cloud Awards organizer Larry Johnson said: “In our third year promoting SaaS exclusively alongside its sister awards program, the long-running Cloud Awards, we have seen a huge variety of submissions from the US joining those from CanadaEuropeAustralia and the East – from organizations whose turnovers rank the highest in the world, to innovative not-for-profits seeking to provide essential productivity tools to their users.

“All entrants demonstrated considerable commitment to innovation in software solutions, and to make the shortlist itself is a huge achievement. With such a concentrated level of success in the shortlist, our judges have a significant task ahead of them to arrive at our final award winners.”

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Just 35 Percent of Responding Organizations Are GDPR Compliant With EU Data Privacy Rules

Even fewer know what data third parties hold and have addressed third-party GDPR compliance in contracts

The European Union (EU) General Data Protection Regulation (GDPR) took effect May 25, 2018, yet only 34.5 percent of nearly 500 professionals involved in GDPR compliance efforts say their organizations can defensibly demonstrate compliance with the new data privacy rules today, according to a recent Deloitte poll.

Litigation, regulatory and internal investigation challenges could abound for others. One-third of respondents (32.7 percent) hope to be compliant within 2018. And, 11.7 percent plan to take a “wait and see” approach amid uncertainty over how EU regulators in various countries will enforce the new regulation.

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“The fact that the GDPR effective date has come and gone and many are still scrambling to demonstrate a defensible position on GDPR compliance reflects the complexity and challenges as the world of privacy rapidly changes,” said Rich Vestuto, a Deloitte Risk and Financial Advisory managing director in discovery for Deloitte Transactions and Business Analytics LLP.

Third-party contract management for GDPR compliance 

Only 13.6 percent of respondents are confident that their organizations know what data third parties have and are leveraging artificial intelligence (AI) and other technologies to analyze and manage third-party contracts for GDPR compliance.

A majority (56 percent) aren’t done discerning what data third parties have or the potential implications of GDPR on third-party contract management. Some (10.2 percent) have yet to begin addressing third-party GDPR compliance at all.

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Vestuto added, “Among the biggest GDPR compliance challenges is third-party contract management. Under GDPR, organizations are responsible for ensuring privacy protection of EU-regulated data shared with or used by vendors and service providers, which requires those organizations to know who their vendors are and precisely what data those third parties hold. Updating or renegotiating contracts and agreements may help ensure third parties are GDPR-compliant when using your organization’s EU-regulated data.”

Discovery challenges loom for 30 percent 

Discovery will be harder for their organizations now that the GDPR is enforceable, according to 30.6 percent of respondents. Surprisingly, 18.6 percent expect discovery to actually become easier under GDPR. Some (17.2 percent) expect no change to their organizations’ discovery practices, as a result of GDPR taking effect.

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“Even those professionals closely involved in GDPR compliance may not fully appreciate the implications the new rules may have for discovery related to regulatory inquiry responses, litigation and internal investigation proceedings—as well as other aspects of their businesses,” Vestuto cautioned.

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Scalability is key as more jurisdictions add data privacy rules

Nearly half of respondents (48.2 percent) say their organizations’ data privacy programs are scalable to address pending rules in other jurisdictions even if their immediate focus is GDPR. Also, 19.8 percent report that their organizations’ programs are focused solely on GDPR without scalability, potentially leaving them unprepared to deal with new rules elsewhere.

Vestuto concluded, “Other jurisdictions beyond the EU are enacting more stringent data privacy protections. Data privacy programs should be scalable and requirements rationalized on a global basis to ensure that organizations are able to address current and pending rules in various jurisdictions as needed.”

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