1 “Evolution of the networked enterprise”, McKinsey & Co, March 2013, p 46 [Analysis was 4 industries].
1“Customer Service and Business Results: A Survey Of Customer Service from Mid-size Companies,” Dimensional Research, April 2013, https://ibm.biz/Bdx3ec
2 “The Social Habit,” Edison Research & Arbitron, June 2012, https://ibm.biz/Bdx3N7
3 “2012 MarketingSherpa Lead Generation Benchmark Report,” MarketingSherpa, 2012, https://ibm.biz/Bdx3NW
4“HubSpot State of Inbound Marketing, 2012, https://ibm.biz/Bdx3eD
5“Putting Social Media to Work,” , Chris Barry, Rob Markey, Eric Almquist and Chris Brahm, Bain & Company,2001, https://ibm.biz/Bdx3ef
http://www.flickr.com/photos/vestman/3871170258/ by http://www.flickr.com/photos/vestman/
1 “Evolution of the networked enterprise”, McKinsey & Co, March 2013
2 “The social economy: Unlocking value and productivity through social technologies”, McKinsey & Co, July 2012
http://www.flickr.com/photos/vestman/3871170258/ by http://www.flickr.com/photos/vestman/
1 “Evolution of the networked enterprise”, McKinsey & Co, March 2013
2 “The social economy: Unlocking value and productivity through social technologies”, McKinsey & Co, July 2012
Due to a rapidly changing regulatory environment across countries, the firm had experienced an alarming increase in the number of compliance violations. It was reaching the point where the publicity of the fines could have impacted their reputation in the marketplace.
Adding to the shifting regulations, the firm was expanding quickly into new markets around the world which only increased the complexity.
The traders were frustrated by the decision delays. They believed that their position in the trade was diminished as the counter-party would start to question the specifics of the deal.
There was no single source of regulatory interpretations at the firm. Per the law, there was a single repository of global regulations, yet the regional and local regulations along with interpretations were spread across shared drives, databases and hard drives.
Compliance would often turn to the internal legal department for a ruling on either new regulations or those regulations where the last decision was “out of date” (at the point of the project, the client determined that six months for newer regulations was “too old”).
Either due to skill or possibly a culture of not wanting to be the person who made the wrong mistake, the internal legal firm would often move the decision to their external legal counsel. Due to high turnover in the industry of compliance officers and internal legal counsel combined with most new professionals “bringing their own favorite external” firm to the portfolio. The result was literally thousands of external legal firms engaged across the world with minimal concentration of business. Making the issue worse, all work was done in e-mail, phone and mail. The resulting legal matter was never captured and retained in the bank’s repositories.
Finally, each compliance officer was almost an island. The average time in the position was under three years. They knew the people in their product area and location. For example, the compliance officer on the bond desk on the 20th floor of a building didn’t know their peer on the equity desk on the 15th floor. The isolation meant they didn’t have many people to turn for answers. With the mirrored fragmentation of regulations and decisions on shared drives, hard drives, etc., it was impossible to find the right person.
The benefits were realized by connecting people to others with greater expertise as questions emerge. This is regardless of the two parties knowing each other. The benefits are not the result of changing the “process” but connecting to a breadth of sources with the appropriate expertise to give advice.
Let’s focus on one line of this example for the benefits: the line that connects the compliance officer to another compliance expert. The right “experts” are identified by integrating the automated expertise engine into the current compliance applications, identifying others with the right expertise (based on their automatically populated expertise profile), determining availability and automatically connecting them. A group of compliance officers determined the impact those capabilities would have on fines, trade value, compliance efficiency and effective usage of external legal firms. In the next step, they changed the highs and lows into values. The linkage and value was clear to them.
The one undervalued benefit was the reduction of external legal fees. The group believed the consolidation of a highly fragmented content would reduce the need to call external firms. However, the ease of connecting directly to one of the included firms was so convenient that the business started to shift. This not only allowed for better rates with scale, but also better knowledge of the external skills.
Smarter Business Outcomes
Increased compliance officer productivity
Reduction in external counsel fees
Reduction in regulatory fines and penalties
Increased revenue per transaction; more efficient compliance decisions
Reduced compliance officer turnover
Reduced fines by automatically connecting the decision-maker to others with deep experience
Increased the value of trades with quick compliance decisions
Dramatically reduced external legal expenditures as ease of working with firm in extranet consolidated their usage
The benefits were realized by connecting people to others with greater expertise as questions emerge. This is regardless of the two parties knowing each other. The benefits are not the result of changing the “process” but connecting to a breadth of sources with the appropriate expertise to give advice.
Let’s focus on one line of this example for the benefits: the line that connects the compliance officer to another compliance expert. The right “experts” are identified by integrating the automated expertise engine into the current compliance applications, identifying others with the right expertise (based on their automatically populated expertise profile), determining availability and automatically connecting them. A group of compliance officers determined the impact those capabilities would have on fines, trade value, compliance efficiency and effective usage of external legal firms. In the next step, they changed the highs and lows into values. The linkage and value was clear to them.
The one undervalued benefit was the reduction of external legal fees. The group believed the consolidation of a highly fragmented content would reduce the need to call external firms. However, the ease of connecting directly to one of the included firms was so convenient that the business started to shift. This not only allowed for better rates with scale, but also better knowledge of the external skills.
Smarter Business Outcomes
Increased compliance officer productivity
Reduction in external counsel fees
Reduction in regulatory fines and penalties
Increased revenue per transaction; more efficient compliance decisions
Reduced compliance officer turnover
Reduced fines by automatically connecting the decision-maker to others with deep experience
Increased the value of trades with quick compliance decisions
Dramatically reduced external legal expenditures as ease of working with firm in extranet consolidated their usage
2“The Global Innovation 1000: Making Ideas Work,” Barry Jaruzelski, John Loehr, and Richard Holman, strategy+business Magazine, Winter 2012, Booz & Company, Inc.
3 Competitive Advantage in the Era of Smart,” Ginni Rometty, speaking at Council on Foreign Relations, NYC, March 7, 2013, https://ibm.biz/Bdx3nu
4“The Global Innovation 1000: Making Ideas Work,” Barry Jaruzelski, John Loehr, and Richard Holman, strategy+business Magazine, Winter 2012, Booz & Company, Inc.
http://www.flickr.com/photos/vestman/3871170258/ by http://www.flickr.com/photos/vestman/
1 “Evolution of the networked enterprise”, McKinsey & Co, March 2013
2 “The social economy: Unlocking value and productivity through social technologies”, McKinsey & Co, July 2012
Sources:
2012 IBM Global Chief Executive Study
The 2012 IBM Tech Trends Report
Kenexa High Performance Institute, 2011/12, “Engagement Levels in Global Decline: Organizations Losing a Competitive Advantage
http://www.flickr.com/photos/vestman/3871170258/ by http://www.flickr.com/photos/vestman/
1 “Evolution of the networked enterprise”, McKinsey & Co, March 2013
2 “The social economy: Unlocking value and productivity through social technologies”, McKinsey & Co, July 2012
Souces
1 “2013 M&A Outlook Survey,” KPMG, 2013.
2 “The Big Idea: The New M&A Playbook”, Clayton M. Christensen, Harvard Business Review, March 2011.
3 “Perspectives on merger integration,” McKinsey & Company, June 2010.
46 Reasons Why So Many Acquisitions Fail, James Price and University of Michigan, Forbes, October 2012, http://read.bi/10rJhTq
5 “Perspectives on merger integration,” McKinsey & Company, June 2010.
1 “The Big Idea: The New M&A Playbook”, Clayton M. Christensen, Harvard Business Review, March 2011
2 “Evolution of the networked enterprise”, McKinsey & Co, March 2013
Value Proposition
Provides all of the functionality required to address the differing requirements between existing source systems, and new IBM software target systems through the use of connectors which are available for all major Content Management Systems. In addition, our migration engineers have expertise in building custom connectors, ensuring that any existing customer data can be successfully migrated to any target IBM product.
User Experience / Key Features
Web content can be migrated from any source to any IBM product
Web components will always have the correct metadata and information architecture
High volume processing capabilities mean rapid application changes
Rules based processing guarantees 'quality built in'
All changes can be tracked and logged providing full accountability
The new target IBM product will have a maximum level of data quality
Source: 1 "Occupational Health Services And Practice". Ilo.org. Retrieved 2013-02-15.
The Challenges Associated with Workplace Safety are Costly! Let’s talk about why accidents occur and the costs associated with them…….
Accidents in the workplace do not just occur, they are caused by a multitude of reasons….
Most have to do with a failure to plan and execute which results in potential disaster…
Many industries including the airline manufacturing industry for example, are under constant pressure to innovate and develop products that push the boundaries. Often, technology advances
outpace safety and security practices which creates a recipe for disaster…
Adherence to effective methods, would mean that most incidents would be completely preventable….
Looking at the reasons for workplace safety issues, all have to do with people: culture, education communication & leadership. We have solutions to address these challenges.
Workplace injuries are a costly affair, accounting for $250 Billion in illness and injury costs in the US alone. Globally this number is in excess of $2.74 Trillion
The upside of having effective safety practices Is huge when you consider the loss of productivity for extended periods of time…
TRANSITION TO THE NEXT SLIDE…..Let’s look a a few additional facts…
Source: "Occupational Health Services And Practice". Ilo.org. Retrieved 2013-02-15.
Source: 1. “Who Knows What?”, The Wall Street Journal Online, Updated June 15, 2012, https://ibm.biz/Bdx93H
3 “Why Knowledge management is important to the Success of your company,” Lisa Quast, Forbes Online, August 2012, https://ibm.biz/BdxCF4
Traditional solutions in article are central repositories managed by a small group of people.
http://www.flickr.com/photos/vestman/3871170258/ by http://www.flickr.com/photos/vestman/
1 “Evolution of the networked enterprise”, McKinsey & Co, March 2013
2 “The social economy: Unlocking value and productivity through social technologies”, McKinsey & Co, July 2012
Situation: A small business owner needs to get a new van for his construction business. He has the ability to pay cash for the van, but that may limit other investments that will help him grow the business. He needs advise on taking a loan vs. paying cash.
I tap the icon for Lending.”
“I see there’s a lending menu. When I press it, there’s actually a menu on Small Commercial Lending. I press it.”
The user could also tap the “View all experts.”
IBM continues to be the partner of choice because we lead in the three most important dimensions of social business solutions:
We have an extraordinary ecosystem of business partners and services providers, along with the our deep reservoir of industry expertise, which allows us to bring new capabilities, like gamification, compliance, and mobility to bear on our clients' needs.
We've differentiated our social business engagement platform by building it atop the #1 (ranked #1 by IDC three years running) Social Software Platform in the industry. This is social software that's ready for business, with a broad set of social networking, collaborative, and social analytics capabilities. IBM has also added ground-breaking services like Files, which lets users share their content simply, while still maintaining control.
It's no wonder that 60% of the Fortune 100 companies look to IBM for social business solutions.
In the heart of our strategy is Our Social Business platform. It consists of 4 key elements
Social Networking, Analytics, Content, and Integration/Aggregation, it specialize in leverage people to connect and share, curate content, intelligent discovery, surfacing insight base on dynamic of linkage between people, informatton and people and information to help you guide decision and action. It enables you to deliver an great experience to your customers, employees and partners that is made to meet the need of you business both external and internal.
In addition to security, scalability, and business compliance characteristic that is known for IBM, we continued to maintain and embrace Open Standard for integration as well as support the flexibility of deployment choice that enterprise needed today and future.
Together this provides a foundation to build business solution that is inherit social, creating a system of engagement that is base on people and content.
Here's how IBM can help you get started TODAY.
Through Connections (2012 IBM CEO Study): Learn from CXO Studies
Social Business Agenda: Establish linkage to Strategy
Business Value Assessment: Define Business Value
Adoption: Accelerate Adoption