If you think you’ve landed on another COVID-19 inspired blog, you are wrong. While in the current situation, this has gained unprecedented relevance, “Quick time to value” has always been sought after by any enterprise – COVID or not!
And at Riversand, we learned that early on.
We wanted to make a difference in our customers’ lives by delivering maximum possible value in the shortest possible time. And we took the “road less travelled” about two years ago.
How we did this was a game-changer and a disruptor in the Product Information Management (PIM) and Master Data Management (MDM) fields. Why we did this will also help you during your next product evaluation.
The five reasons:
1. Experience Matters
For over two decades, Riversand has helped (and in the process, learned from) businesses across all major industry verticals. From CPG, Distribution, Retail, Energy, Utilities, and Automotive to various sub-verticals of Food & Beverage, we have worked with a significant number of customers in each segment over the years to understand the value of each industry’s demands and the nuances your specific business deals with.
When a product claims to deliver quick value to you, validate if the value is “relevant” to you, your company, and industry. Remember to check how vast and how contextual their experience is with respect to your needs.
PIM and MDM are becoming very critical in any business’s journey in providing a great Product & Customer experience. Over the years, we’ve seen syndication products attempt to expand into PIM. Data cleansing platforms, eCommerce platforms, Digital Asset systems – everyone is trying to claim a share. Because it is a real problem and a growing need today.
Unfortunately, PIM, MDM, and PXM (Product Experience Management) are vast, taking years of experience to bring relevant value to you.
2. What’s the Devil in the Details?
My wife recently got in touch with a freelance painting reseller through a friend. They said their paintings were out of this world and cost $75. When we saw their picture catalog, we loved the paintings. And then came the time to look at the paintings. The size of the paintings was laughable – like it came from a home printer. However, they did show us some impressive wall-size ones after that. They were $1,600 each. And then you had to pay for the frame and then for delivery and then some change for hanging it up as well. We walked out. How often do we see traps like these in our day-to-day purchases?
A B2B product is no different. Since Riversand brought quick implementation and immediate ROI to the front, we have seen a lot of products creating hype around being able to solve your problems in weeks. Turns out the marketers were more brilliant than the product themselves. These other providers could solve a part of the problem in a couple of months, but followed it up with a traditional long-term approach for the rest of your needs. It is important to read the footnotes and the disclaimers.
Over the last year, Riversand has been able to deliver “full” value to numerous customers in under six weeks. In fact, we have done a project with zero implementation as well, working in conjunction with our customer with remote training sessions. Yes, for an enterprise-grade solution – it is possible.
3. Give Value to “Value”
In “time to value,” value is the most important factor. What does value mean to you? Is it onboarding content from suppliers seamlessly? Or, is it orchestrating your data at scale, and with speed?
Is it eCommerce enablement? Or, multi-channel commerce? Is it governing your data with confidence? Or, gaining deep insights into your data while governing it?
Improving quality or richness of content? Or, efficiency of processes?
You probably answered “Yes” to at least 80% of the questions above. And that is what we set out to achieve when we started this journey. It had to be “full value” full stop.
Businesses looking to go-live fast or quickly achieve ROI don’t want to (and can’t) compromise on the definition of “value.” Their pain points don’t auto-magically go away just because the product they chose can only deliver a part of that value in time.
Nearly two years ago, we got into a multitude of discussions and brainstorming sessions to decide that value could not be tiered. We had to offer “full value” at each tier because the problems did not come in Small, Medium, Large packages. And we did just that: Offered full value without compromise to company size or problem.
4. “Endgame” is a Marvel Cinematic Concept
Is there really an end to superheroes? No, and the same is true for your end goals as well. If I asked you, “How much automation would you want to achieve in your data experience journey?” you’d probably ask, “How much is possible?”
There is no end game in a master data experience journey. Your business will continue to grow and evolve as well. And your definition of “full-value” will continue to evolve as well.
In Riversand, you have a partner and solution that will grow with you and take you to your desired data and business scale, without slowing you down. And, at the same time, make it easy, predictable, and inexpensive for you to do so, when you need to.
Riversand continuously rates as the only Visionary in the Gartner Magic Quadrant for MDM solutions. Why? It is because we understand the evolution process: We built and continuously improve and evolve our product so you can derive incremental value very rapidly.
5. Work Together. Anywhere
I said this blog is not about COVID-19, and I still maintain that. At Riversand, we started the “Execute Remotely” strategy over 18 months ago. While we knew at the time that this was the way to go, we didn’t know if our customers would believe that it could be done. After all, we were promising to deliver “full-value” in 4-6 weeks. To our delight, our customers loved the idea just as much as we did. And for good reasons.
One, there is no time lost in planning and logistics. We have kicked-off projects within two days of signing the contract. Two, we avoid unnecessary and avoidable costs. Travel is expensive. Those costs add up and are billed back to you. We’ve eliminated the unnecessary and avoidable costs, especially the ones where you (shhhh…) don’t have to travel to get the job done.
Lastly, there is overall optimization of process and costs. We have created the most efficient Centers of Excellence and Best Practice Councils to deliver projects in the most optimal and templatized fashion. One size does not fit all, but we apply methods and playbooks of project success to our customers’ projects.
We gladly pass those commercial (and financial) benefits to our customers. We implement projects at unimaginably low services cost and at unimaginable speed. All done remotely.
We’ve had the privilege of taking customers through this exciting journey. But it started with the right product in order to enable this rethinking of implementation and value delivery. Proven data solutions are robust – but simple enough to provide great value, offer complete functionality, is easy to learn to not just use but master, and accessible enough to administer.
To sum it up, here are five key characteristics you should look for in your evaluation, before you establish your choice:
- What is the experience in the context of your industry and typical pain points?
- Is “full value” being delivered for your needs?
- How soon can this value be realized?
- How easy is it to grow, evolve, and incrementally expand?
- Has it been proven to have been done remotely and with any consistency?
Amit Rai is a Senior Director, New Offerings at Riversand. He is responsible for creation of solution offerings and GTM strategy, specific to industry verticals and guide customers to align business value to industry best practices.