|Exam Name||:||IBM Commerce Solutions Selling Technical Mastery Test v1|
|Questions and Answers||:||25 Q & A|
|Updated On||:||April 18, 2019|
|PDF Download Mirror||:||P2050-003 Brain Dump|
|Get Full Version||:||Pass4sure P2050-003 Full Version|
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P2050-003 exam Dumps Source : IBM Commerce Solutions Selling Technical Mastery Test v1
Test Code : P2050-003
Test Name : IBM Commerce Solutions Selling Technical Mastery Test v1
Vendor Name : IBM
Q&A : 25 Real Questions
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IBM (NYSE:IBM) shares gapped down ahead of trading on Thursday after an insider offered shares in the business. The inventory had prior to now closed at $139.09, however opened at $136.32. IBM shares final traded at $133.19, with a volume of 4378111 shares.
specifically, insider Diane J. Gherson offered 5,754 shares of the company’s inventory in a transaction that came about on Wednesday, February sixth. The inventory was bought at a typical expense of $135.sixty seven, for a complete transaction of $780,645.18. Following the completion of the sale, the insider now owns 23,117 shares in the business, valued at $3,136,283.39. The transaction become disclosed in a submitting with the SEC, which is attainable at this hyperlink. Insiders own 0.17% of the enterprise’s stock.
a number of equities analysis analysts have lately commented on IBM shares. Wedbush diminished their fee goal on IBM from $185.00 to $a hundred sixty five.00 and set a “neutral” rating for the company in a report on Thursday, October 18th. Zacks funding analysis upgraded IBM from a “promote” score to a “cling” rating in a record on Thursday, October 18th. Goldman Sachs community restated a “impartial” score and set a $a hundred and fifty five.00 cost goal on shares of IBM in a document on Monday, October twenty ninth. BMO Capital Markets restated a “dangle” ranking and set a $a hundred forty five.00 expense aim on shares of IBM in a document on Friday, December 7th. ultimately, Cantor Fitzgerald restated a “grasp” rating and set a $140.00 cost objective on shares of IBM in a report on Wednesday, January 16th. four research analysts have rated the inventory with a promote rating, ten have issued a dangle score and eight have given a purchase ranking to the company’s inventory. IBM has a normal ranking of “grasp” and a consensus rate target of $154.56.The company has a market capitalization of $123.89 billion, a PE ratio of 9.sixty four, a value-to-salary-boom ratio of two.forty and a beta of 1.25. The company has a quick ratio of 1.24, a present ratio of 1.29 and a debt-to-fairness ratio of two.10.
IBM (NYSE:IBM) last introduced its quarterly income effects on Tuesday, January 22nd. The technology company said $four.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.82 with the aid of $0.05. IBM had a return on equity of sixty eight.61% and a internet margin of 10.ninety seven%. The enterprise had earnings of $21.76 billion all through the quarter, compared to the consensus estimate of $21.79 billion. all the way through the same quarter in the prior year, the company posted $5.14 salary per share. IBM’s earnings changed into down 3.5% in comparison to the equal quarter final year. Equities analysts predict that IBM will submit 13.ninety two revenue per share for the existing fiscal yr.
The company also recently disclosed a quarterly dividend, which should be paid on Saturday, March 9th. Shareholders of list on Friday, February eighth may be given a $1.57 dividend. The ex-dividend date of this dividend is Thursday, February seventh. This represents a $6.28 annualized dividend and a yield of 4.seventy two%. IBM’s dividend payout ratio is currently 45.47%.
IBM declared that its board has authorized a inventory buyback program on Tuesday, October 30th that permits the business to repurchase $four.00 billion in stunning shares. This repurchase authorization permits the expertise company to buy up to 3.5% of its shares via open market purchases. Shares repurchase classes are usually an indication that the enterprise’s administration believes its shares are undervalued.
a number of hedge money have lately bought and offered shares of IBM. Swedbank boosted its position in IBM by way of 214.6% within the third quarter. Swedbank now owns 1,123,724 shares of the know-how company’s stock value $169,918,000 after buying an extra 766,478 shares during the closing quarter. Berkshire Asset administration LLC PA boosted its position in IBM by means of 2.4% within the third quarter. Berkshire Asset management LLC PA now owns 20,690 shares of the expertise enterprise’s stock price $three,129,000 after buying an extra 481 shares all through the last quarter. Nisa funding Advisors LLC boosted its position in IBM through 3.6% within the third quarter. Nisa investment Advisors LLC now owns 320,951 shares of the know-how business’s inventory value $forty eight,531,000 after paying for an additional eleven,129 shares all over the last quarter. Adams Asset Advisors LLC boosted its position in IBM by 14.0% within the third quarter. Adams Asset Advisors LLC now owns 48,705 shares of the know-how business’s stock value $7,364,000 after procuring an extra 5,970 shares during the last quarter. at last, Aperio community LLC boosted its position in IBM through 9.0% within the third quarter. Aperio neighborhood LLC now owns 454,228 shares of the know-how company’s stock value $68,684,000 after purchasing an extra 37,393 shares during the final quarter. 56.09% of the stock is currently owned by way of institutional investors and hedge dollars.
COPYRIGHT VIOLATION observe: “IBM (IBM) Shares hole Down Following Insider promoting” changed into reported with the aid of Markets daily and is owned with the aid of of Markets daily. if you're viewing this story on one more book, it was illegally copied and republished in violation of U.S. & foreign copyright & trademark law. The prison version of this story can also be considered at https://www.themarketsdaily.com/2019/02/08/ibm-ibm-shares-hole-down-following-insider-selling.html.
IBM enterprise Profile (NYSE:IBM)
international enterprise Machines organisation operates as an integrated know-how and functions company international. Its Cognitive solutions segment offers Watson, a computing platform that interacts in language, techniques huge statistics, and learns from interactions with people and computer systems. This segment additionally offers statistics and analytics solutions, together with analytics and facts management systems, cloud records services, commercial enterprise social application, talent management solutions, and tailor-made trade solutions; and transaction processing application that runs mission-essential methods in banking, airlines, and retail industries.
advised Story: Debt-To-equity Ratio
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Perficient, Inc. PRFT, +0.78% (“Perficient”), a number one digital transformation consulting firm serving world 2000® and other colossal enterprise valued clientele all over North america, announced it has been named IBM’s 2019 Watson Commerce company partner of the year. The IBM Excellence Award, announced throughout IBM’s PartnerWorld at suppose 2019, recognizes Perficient’s ongoing boom and relationships with key valued clientele, and concept management across the IBM Watson client Engagement Commerce platform as an essential component for digital transformation.
“Our method to commerce is focused on crafting a experience, connecting with purchasers, and supplying a seamless client journey throughout channels and all over the business, imperatives in these days’s buyer-driven world,” pointed out Steve Gatto, national income director, Commerce solutions, Perficient Digital. “collectively, with our shoppers, we’re remodeling organizations in a means that no longer handiest drives boom however strengthens their basic company, and we invariably evolve our offerings to hold customers at the correct of their game. We’re honored to be recognized via IBM, and we’re eager for sharing our innovative options during IBM suppose 2019.”
Perficient Digital Takes Commerce options beyond Transactions to radically change the customer Lifecycle for a global various manufacturer
With branded manufacturers and distributors beneath force from the dramatic shift to on-line procuring, a global varied company sought to digitally transform its commerce company. In partnership with Perficient Digital, the two enterprises delivered optimized customer sales, up-to-date product tips (PIM), and streamlined the ordering system through building of a B2B portal. With the implementation of IBM’s Sterling Order management gadget (OMS), and Perficient’s advantage, the diversified manufacturer is future-proofing its company to align with trade tendencies and market alternatives.
additionally, the business’s OMS will supply them enhanced flexibility in managing complex order management situations, more advantageous reliability so as processing and fulfilment, and a value discount in enforcing across its enterprise. it will further permit the company to convey service enhancements to its shoppers, optimize its pricing, merchandising and average give chain, raise sales due to more desirable stock visibility, and in the reduction of charges via more advantageous efficiencies in order visibility.
Perficient Digital Enhances the online customer event for a number one material Retailer
In a market that has historically depended on brick-and-mortar experiences, a leading cloth and craft retailer become challenged with extending the customer experience on-line. Perficient partnered with the enterprise to implement an IBM Watson Commerce solution that supplied up-to-date visibility of its inventory and more advantageous monitoring of its product volume, area, and availability. utilizing IBM Order management, Perficient additional more desirable the solution via cloud migration that presents a single view of provide and demand, orchestrates order success approaches throughout purchase on-line Pickup In save (BOPIS) and Ship-from-shop (SFS), and empowers business representatives to stronger serve clients each in name centers and in-save engagements.
“Perficient has been deploying IBM Commerce solutions for very nearly 20 years, featuring conclusion-to-conclusion digital commerce options that embody dissimilar channels, and deliver seamless and effective experiences throughout their total commercial enterprise,” talked about Sameer Peera, common supervisor, Perficient’s commerce apply. “With the contemporary information that HCL took over development of IBM WebSphere Portal, IBM web content material management and net experience manufacturing unit, our consumers continue to have interaction us for help with their digital commerce techniques. We’re joyful to be their go-to companion as they navigate the altering market panorama and deliver for their valued clientele.”
Perficient capabilities in motion at IBM suppose 2019
in addition to its award-winning commerce answer capabilities, Perficient consultants are available all the way through the IBM believe 2019 convention in booth #320 to focus on its experience and skills throughout the IBM portfolio , specially cloud, cognitive, statistics, analytics, DevOps, IoT, content management, BPM, connectivity, commerce, mobile, and customer engagement.
whereas IBM has announced its plans to sell its commerce portfolio, the news of its acquisition of crimson Hat additionally signaled the criticality cloud development and start play in successful conclusion-to-conclusion digital transformations. As an IBM international Elite accomplice, considered one of best seven companions with that popularity globally, and a red Hat Premier accomplice, Perficient is well placed to work with each corporations via this transition. And, our experts could be on hand throughout IBM believe to discuss how to navigate the cloud market, share key client success reviews, and provide strategic knowledge on the alternatives ahead for valued clientele.
“technology is changing so abruptly, and organizations need to keep tempo or face disruption,” noted Hari Madamalla, vice chairman, rising solutions, Perficient. “With advantage and journey in all facets of the commerce event, to main cloud, internet hosting, managed functions and support solutions, organisations turn to Perficient as a go-to associate for his or her digital transformations.”
join several Perficient subject rely consultants and our shoppers as they present throughout six IBM consider periods, together with:
As a Platinum IBM enterprise companion, Perficient holds more than 30 awards across its 20-yr partnership heritage. The business is an award-winning, certified utility value Plus answer issuer and one of the vital few companions to get hold of dozens of IBM knowledgeable degree application competency achievements.
For updates during the event and after, connect with Perficient consultants on-line by using viewingPerficient and Perficient Digital’s blogs, or comply with us on Twitter@Perficient and @PRFTDigital.
Perficient is the main digital transformation consulting firm serving global 2000® and commercial enterprise purchasers all the way through North the us. With unparalleled counsel expertise, administration consulting, and artistic capabilities, Perficient and its Perficient Digital agency convey vision, execution, and cost with astonishing digital adventure, business optimization, and industry solutions. Our work enables clients to improve productiveness and competitiveness; develop and support relationships with customers, suppliers, and partners; and cut back charges. Perficient's experts serve shoppers from a network of offices throughout North the usa and offshore locations in India and China. Traded on the Nasdaq global opt for Market, Perficient is a member of the Russell 2000 index and the S&P SmallCap 600 index. Perficient is an award-winning Adobe Premier accomplice, Platinum stage IBM enterprise partner, a Microsoft country wide service issuer and Gold CertifiedPartner, an Oracle Platinum companion, an advanced Pivotal able companion, a Gold Salesforce Consulting companion, and a Sitecore Platinum companion. For extra counsel, visitwww.perficient.com.
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some of the statements contained in this information liberate that are not basically historical statements focus on future expectations or state other ahead-searching tips concerning monetary effects and company outlook for 2018. these statements are subject to universal and unknown dangers, uncertainties, and other components that could trigger the genuine results to vary materially from these meditated with the aid of the statements. The ahead-looking assistance is in accordance with administration’s present intent, perception, expectations, estimates, and projections concerning our business and our business. remember to be mindful that those statements best reflect our predictions. specific hobbies or effects might also range considerably. critical elements that may trigger our genuine outcomes to be materially different from the ahead-searching statements consist of (however aren't restricted to) these disclosed below the heading “possibility elements” in our annual record on form 10-ok for the 12 months ended December 31, 2017.
View source version on businesswire.com: https://www.businesswire.com/information/home/20190212005973/en/
supply: Perficient, Inc.
Ann Higby, PR supervisor, Perficient, firstname.lastname@example.org
Copyright enterprise Wire 2019
The astonishing value of information that has earned it a spot above oil because the world’s most coveted aid is its knowledge to power enterprise concepts with ultra-specific particulars that permit extra advised choice-making. Now that organizations have that energy, their next hurdle is effective implementation.
Katie Dunlap (pictured, right), vice chairman of international unified commerce and advertising GTM at Bluewolf an IBM business, and Ben Cesare (pictured, left), world trade options lead, retail alliance ecosystem, at Salesforce.com Inc., spoke with John Furrier (@furrier) and Lisa Martin (@LisaMartinTV), co-hosts of theCUBE, SiliconANGLE Media’s cellular livestreaming studio, right through the IBM feel event in San Francisco. They mentioned how IBM and Salesforce work collectively to make certain information is used for a extra personalised event that advantage each company and customer. (* Disclosure beneath.)
[Editor’s note: The following answers have been condensed for clarity.]
Martin: IBM is the #1 implementer of Salesforce. talk about the partnership.
Dunlap: That partnership leverages the best of the know-how from Salesforce, in addition to IBM, and collectively [we] create alternatives for the business. today we’re talking about retail.
Cesare: for those who focus on Salesforce, you talk about advertising, commerce, and service cloud. We name that the engagement layer. That’s how we truly interact with our buyers, and to have a pretty good reference to buyers we need to have an outstanding facts insights. We need to have in mind what’s occurring with all the information that drives choices for dealers. That’s why the connection with IBM is so strong; it's a data-pushed relationship.
Dunlap: The native functionality for Salesforce is Einstein, an clever layer; and for IBM it’s Watson. retail with commerce and advertising and marketing and repair is the center of that conversation on the engagement layer. How are we working with a client from a group of information guidance standpoint and activating the facts all of the way via provide chain? It goes all the manner through servicing that client, returning, and making sure that tips is certain.
one of the crucial things that we accomplice with Salesforce on is the engagement layer, and we have entry to Watson Embedded company Assistant that goes out and talks to all the disparate techniques. As a merchandiser, i will be able to ask the query and get hold of assistance back from supply chain.
Furrier: inform us concerning the alterations in retail. What [are] one of the vital new experiences that are getting new expectations?
Cesare: What you all the time desire is a good client journey, and what defines it truly is, “Are they serving me the products I desire, once I need them? If I even have a problem, how am I handled?” These are all things that we tackle with Salesforce options.
This year there were over $300 billion in markdowns for marketers. Half of these were unplanned, and that goes correct to your [product and loss]. We want to make sure the things we do fulfill the purchaser but now not on the price of the marketers. by using IBM supply chain statistics assistance, we will safely service you.
It’s now not just the save on-line; it’s retail all over, someone promoting their functions to you. The holy grail is understanding you notably. statistics has become a plenty broader time period; it’s just now not numbers. information is your traits on social media, videos you're viewing. All that together in reality gives a retailer suggestions, improved serve you.
Furrier: What are some of the learnings around this new engagement layer and with statistics intelligence?
Cesare: I feel the leading component I’ve discovered is the vigour of personalization. if you study someone’s shopper basket, there’s a good amount of things you might find out about them, but to try this for 25, 30 million customers is very complex. to analyze the statistics, phase it, and customise it to you is extraordinarily potent. If dealers can remember your way of life, that opens the door to so many products and features.
Commerce was once a really linear issue, however now it’s going on anyplace you are. You may well be anyplace and execute a transaction. the gap between media and commerce has collapsed, It’s turn into true time. The immediacy of media and transaction [is] going to take marketers by surprise.
Watch the comprehensive video interview beneath, and make sure to try extra of SiliconANGLE’s and theCUBE’s coverage of the IBM consider experience. (* Disclosure: Salesforce.com Inc. subsidized this phase of theCUBE. Neither Salesforce.com nor different sponsors have editorial manage over content material on theCUBE or SiliconANGLE.)photograph: SiliconANGLE since you’re right here …
… We’d want to tell you about our mission and the way which you could aid us fulfill it. SiliconANGLE Media Inc.’s enterprise mannequin is according to the intrinsic price of the content, now not promoting. in contrast to many online publications, we don’t have a paywall or run banner promoting, as a result of we wish to keep our journalism open, without have an effect on or the deserve to chase site visitors.The journalism, reporting and commentary on SiliconANGLE — together with reside, unscripted video from our Silicon Valley studio and globe-trotting video teams at theCUBE — take lots of complicated work, time and cash. conserving the satisfactory high requires the support of sponsors who're aligned with our imaginative and prescient of ad-free journalism content.
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SAN DIEGO -- There are two kinds of data analytics professionals -- those who show up merely to collect a paycheck and leave at 5 o'clock, and those who add value, solve problems and make themselves indispensable to their organizations, according to Bernard Wehbe, a founding partner at business intelligence and analytics services firm StatSlice Consulting.
Wehbe, who spoke this week before a crowded room at the Enterprise Data World 2013 conference, is making it his business to teach people about what it takes to become an indispensable analytics professional. And he had a great message for newcomers to the profession as well as seasoned veterans: Remember that analytics excellence is about more than just crunching numbers; it's also about people, processes and, not least of all, passion.
Wehbe, who boasts 14 years of analytics project management experience, went on to offer a helpful list of nine key principles that -- when focused on and adhered to properly -- can turn one into an analytics rock star.1. Make sure you're passionate about analytics.
The difference in value to an organization between an average performer and a rock star is massive, according to Wehbe. That's why it's important for those considering or re-examining a career in analytics to be honest about their personal affinities, strengths and weaknesses.
The analytics rock star knows how to balance her business as well as technical knowledge.
Bernard Wehbe,founding partner, StatSlice Consulting
Wehbe recommended taking a personal assessment test, such as the one put forth by author Tom Rath in the book StrengthsFinder 2.0, and said that those in the analytics profession should get confirmation that being "analytical" is one of their strengths. If it isn't, they may want to consider another career. "A top performer in business must be passionate about what they do," Wehbe said. "Analytics is no exception."2. Focus on applied learning and mentoring.
It's easy to find classes on the basic tools of analytics, such as the SQL query language, ETL technology and statistical techniques, and classroom, or theoretical, learning is vital to being a successful analytics professional. But applied learning, or learning on the job, is just as important as theoretical learning, if not more so, according to Wehbe. On-the-job learning is the only way to hone the skill of creating the underlying assumptions that go into solving analytics problems.
"In school, you are given the assumption, you are given the problem and then you are told to solve the problem based on the tools that they teach," Wehbe said. "Solving the problem is a lot of times the easy part. Coming up with the assumptions is the hard part. Applied learning is the only way to learn how to come up with those assumptions."3. Develop your presentation and communication skills.
The most indispensable analytics professionals work hard on their presentation and public speaking skills. Wehbe recommended taking public speaking courses and getting involved with a group outside of work, such as Toastmasters, that offers an opportunity for public speaking.
"Communication is key in any field, but that is especially so in analytics," he said. "Not only do you have to present your ideas neatly, but you also have to sell your ideas."4. Be the 'go-to guy' for analytics.
Wehbe used an example from another area of life to illustrate the value of the go-to person in an analytics program.
"Let's take an example of paying bills and finances. What if you could find someone who takes it over for your life? Think about how that would make you feel. That's the level of service that is expected from the analytics rock star," he said. "You take the problem on and [own] the problem end to end, and you provide a solution."
Wehbe added that analytics rock stars are also good at anticipating and finding the answers to questions before they're asked. They look for problems that need to be solved instead of waiting for problems to come to them, he said.5. Don't stop until it makes sense.
It might seem counterintuitive to have a principle about intuition when talking about analytics, but Wehbe told the Enterprise Data World crowd that analytics professionals need to hone those intuitive skills. He said analytics rock stars are always asking why and understand that most problems are just symptoms of a larger root cause. They typically aren't satisfied until they find that root problem and solve it.
"Make no mistake, the analytics rock stars must learn to rely on their intuition," he said. "I'm not saying that if you are new to the field you should rely on that too much, because it takes time to hone that intuition. But as you achieve mastery in the field, [you will] start to hone that intuition [to come up] with better hypotheses."6. Learn to quickly create prototypes.
When analytics professionals present findings and proposed actions to business executives, visual tools like dashboards can be very useful. But when making a proposal to a department head or other interested stakeholder, Wehbe said, it's important to create a prototype and populate the presentation tools with actual data. That's much more effective in terms of communication than displaying stock data that means little to the business execs.
"There is a huge difference between presenting a [canned] Tableau or QlikView dashboard versus quickly coming up with a prototype with their data and then presenting those dashboards to them," he said. "The difference is night and day. With a prototype, they can see and feel the exact impact [on] their business."7. Question assumptions.
Rock star analysts are always questioning assumptions and know how to avoid the common analytical traps that people tend to fall into. For example, one of those traps is the tendency to miss the big picture when focusing on what might at first seem like a small problem. Another example of a common trap is the human tendency to seek "silver bullet" solutions to problems. In analytics, the answers are always complicated and silver bullets are exceedingly rare, according to Wehbe.8. Be an advocate for a solid analytics foundation.
The vast majority of source systems have problematic data models, according to Wehbe. That's why it's important for the analytics rock star to push for improved data models for source systems. This will create a solid foundation for analytics activities and ensure different analysts can understand data sets "without having to fumble through overly complicated joins," he said. "You must become an advocate for reliable data contracts and you must promote good data governance practices within your organization."9. Be a bridge builder.
The hardest people to find in any organization are those whose skill sets span both business and IT. People who can bridge that gap are crucial to the success of companies. The most successful analytics professionals work to hone their business skills while maintaining a solid understanding of the inner workings of the IT department. An added bonus of maintaining technical skills is that it helps the analytics professional better understand the data.
"We know as analysts that 90% of our work is about understanding data, and without understanding how IT works and understanding IT concepts, you cannot achieve an understanding of the data," Wehbe said. "The analytics rock star knows how to balance her business as well as technical knowledge."
Mark Brunelli is news director for the Business Applications and Architecture Media Group at TechTarget. Email him at email@example.com and follow him on Twitter: @Brunola88.
Thirty years after he arrived in Canada from India barely able to speak English, serial entrepreneur Naveen Seth traces the roots of his thriving business career to lessons his father taught him when he was a teenager.
Seth, CEO and owner of the rapidly growing La Prep chain of bistro-style restaurants, was 15 years old when he began helping his father out after school at the successful textile company he ran in Punjab, India.
He’d monitor production at the plant and report back to his father on new orders coming in and product that needed to be shipped out. He branched out into other parts of the business — wholesale operations, sales, the retail shop. In the evenings at the family dinner table, Seth’s father would talk about business and encourage him to set priorities and talk about how he should go about making them happen.
“My father was a fantastic teacher,” Seth says. “He always tried to explain how things work in business in a conversational way, rather than by lecturing you. Those lessons are still there in the back of my mind as I run my own companies.”
Seth had to lean on what he’d learned when tragedy struck and his father was killed in a traffic accident. At the age of 21, the job of running the family textile business in the immediate aftermath of his father’s death and then winding it down fell to Seth.
The following year — on April 1, 1988 — he immigrated in Canada, where two of his elder sisters lived, to start a new life in a new country. The day after he arrived in Ottawa, Seth began managing a convenience store his sister owned.
As he crammed to learn English, Seth also studied the convenience store business. It wasn’t the textile industry, but many of the same business principles applied. About half a year after his arrival, Seth bought a failing convenience store for $25,000 and set his sights on turning it around. He made numerous improvements and changes to bring in more customers. Eight months later, he sold the store for four times what he had paid for it.
My father … always tried to explain how things work in business in a conversational way, rather than by lecturing you. Those lessons are still there in the back of my mind as I run my own companies.
Seth followed the same pattern with an additional three stores, buying them at low prices, figuring out what needed to change for them to operate successfully and then selling them quickly for a profit.
But it was an opportunity in the IT sector where Seth struck it really big for the first time.Finding business opportunities in IT
Though he had honed his business skills over the years since he’d moved to Canada, Seth had no experience in IT when he was first approached by his brother-in-law about going into business together in the field. Seth’s brother-in-law, a computer engineer who had worked in Norway, was also living in Ottawa and had identified a need for IT training centres in Canada.
“It was difficult at first because I had no background in IT, but I spent the next few months shadowing him and soaking up everything I could learn about IT and computers,” Seth says.
Six months after they opened their IT training centre, they were so busy they had to expand. They got even busier when they struck on the idea of developing computer-based training modules so students could learn at their own speed from any location — a common practice now, but it was innovative at the time.
Within two years, Seth and his brother-in-law had 35 software engineers working for them in Canada. Through persistence — verging on stubbornness — Seth was also able to attract the attention of a major U.S. marketing firm to use their services. Landing the business took Seth 47 phone calls before the U.S. firm’s CEO finally returned his call and gave him the time to make his pitch. The firm ended up liking Seth’s company so much that they purchased it for themselves in a $6 million deal.Onto a new tasty venture
Throughout his work life, Seth had always felt a strong passion for food — something else his father had instilled in him. After nearly a decade in the IT business, Seth decided to shift gears and set his sights on the food industry.
“Every Friday, during my last two years in IT, we used to bring in chefs from the top Indian restaurants in Ottawa to cook for our staff. That really got my passion for food burning again,” Seth says.
He studied what was then called the Café Supreme chain, which has since been rebranded as La Prep. He convinced the chain’s owner to allow him to buy the rights for Southern Ontario as a master franchisor and opened his first store in 1999 in Toronto beside St. Lawrence Market.
But Seth quickly ran into problems. The location was far too large and expensive to maintain. He had difficulties with his landlord. He battled against mixed branding. Not enough customers came through the door. He shut the restaurant down after one year, losing approximately $500,000 in what Seth calls the most-expensive lesson he has ever learned. Most importantly, he decided stand-alone locations wouldn’t work for the chain and they would do better in places where there was already heavy foot traffic, such as malls and office towers.
Seth put the lessons he learned through the restaurant’s failure to the test in 2001 when he opened his second location in Erin Mills Town Centre. It was a hit, followed by a steady list of new locations in the years after — all of them successes.
Last year, Seth bought out the previous ownership group and became the chain’s owner. Today, La Prep has 50 locations across the country and Seth aims to double that number within the next four years.
Two years ago, Seth also launched a separate restaurant concept — a unique Indian street food eatery based in Mississauga. Inspired by many of the traditional Indian dishes Seth’s father introduced to him during road trips and outings, Chaska offers a rich menu beyond what can be commonly found at mainstream Indian eateries.
The concept is proving to be another hit. Seth has secured four new locations to open Chaska in downtown Toronto in 2019, starting with one at the Atrium on Bay in January.
No matter what field he has worked in — textiles, retail, IT or the food service industry — the one common denominator for Seth has been a passion to learn and a drive to succeed, traits he learned early from his father.
“I think he would be proud. He wanted me to do well,” Seth says.
With today's global and distributed commerce, organizations of all sizes are having to collaborate and exchange information with a growing ecosystem of divisions, partners and customers. Most companies want to communicate electronically and in real time, but beyond email, managing the exchange of data, messages and documents can be challenging and expensive.
Traditional EDI, networks or point-to-point integration systems are not providing the interoperability, agility and real-time information exchange businesses need to compete. In addition, companies need to do more than merely exchange data; they need to integrate complete business processes, such as procurement, supply chain management, eCommerce, benefit claims processing, or logistics, to name just a few.
As with other technologies, integration solutions are moving to the cloud in order to provide this increased flexibility and complexity. Today, there are an increasing number of technology vendors giving customers a choice of traditional on-premise integration - where the company manages the connections, mapping and business processes itself - or cloud-based products with strong self-service or managed service support.
While the cloud may not be appropriate for every company or solution, it is an ideal platform for integration, as it enables seamless interaction and collaboration across communities and systems. From clear economic benefits to increased IT agility to real business impact, a cloud-based integration solution brings value across the IT and business aspects of the organization. Below we've outlined the top 10 IT and business benefits of conducting multi-enterprise integration in the cloud.
Let's look at each of these in a bit more detail with real-world examples.
1. Improved partner and customer relations and retentionCompanies must make it easy to do business with them - it's no longer realistic to tell suppliers to adhere to a single format, such as EDI, as companies have investments in applications and systems they need to extend. Plus customers have more choices than ever before, so if you make it hard for a customer (or partner) to exchange information with you, they will go to a competitor.
A great example of this is a mid-sized electrical supply distributor, Mayer Electric Supply. An increasing amount of its business was being conducted online, but its eCommerce site and related processes were not keeping pace with customer demands, many of whom were large multinational organizations. Mayer chose to bring its online catalog in-house, having its internal IT team rework the catalog and manage the system, but it turned to a cloud-based integration platform to manage the eCommerce "punchout" and integrated purchase order exchange. This enabled all customers to shop with Mayer directly from their existing procurement systems and incorporate the process into its overall procurement work flow. The result for Mayer was improved customer retention and increased order size.
2. Increased revenue and marginOne of the greatest growth areas for cloud-based integration is in demand chain processes, because companies realize that keeping customers close and improving customer-facing business processes has a direct impact on the top and bottom line. With the companies we've surveyed, all of them have experienced improved metrics around retention, order size, revenue and margin.
Take, for example, Invitrogen (now Life Technologies Corp.), a $3 billion per-year supplier to the global life sciences community. The company wanted to improve its customers' online business experience to increase revenues. By leveraging a cloud-based integration solution, Invitrogen was able to accept transactions from diverse customer procurement systems via its website and rationalize an order management system that encompassed more than a dozen platforms. Invitrogen saw orders rise 29 percent after an account was integrated.
3. Improved order accuracyOver the last decade, we have seen a significant increase in demand for integrating eCommerce and procurement processes. These include procure-to-pay, order-to-cash and "punchout." By using a cloud-based integration solution, the experience to integrate these processes is seamless for customers and suppliers. One key benefit of this, as mentioned above, is increased revenue, but there is also a secondary benefit around order accuracy. One eCommerce company saw order accuracy improve to 99% after implementing a cloud-based integration process with its customers, improving inventory management and delivery times, and removing manual intervention from the process.
4. Faster time-to-marketAcross industries and markets, there is an increasing customer force around the "power of now. Customers want to receive products and services more quickly and with less effort. This is somewhat related to the overall trend around the consumerization of business technology, as business people want the same experience at work that they receive shopping or researching online at home. This requires significant improvements in business agility and in the ability to deliver products more efficiently to meet fast-moving markets. To achieve this, companies must work more closely than ever with suppliers, distributors, retailers and partners.
Cloud-based business integration enables real-time collaboration and the exchange of information surrounding logistics, parts, designs, inventory, customer order trends, procurement and other critical processes. Being able to receive messages in a matter of hours versus days or weeks can make the difference between getting the deal or not.
5. Greater competitive advantageThe ease of cloud-based integration can also help companies win new customers and boost market share, enabling small to mid-sized businesses to compete directly with much larger players. In addition, integration can ensure that companies can seamlessly work with customers and partners by not requiring that all business processes occur in a particular format, which may not be compatible with the format that the customer or partner is using.
For example, Office Depot turned a shortcoming that kept it from fulfilling portions of orders from customers into a competitive advantage. By moving specific transactions to a cloud-based integration platform, Office Depot was able to seamlessly work with a diverse set of customers using many different procurement systems. The result: A "gain in market share with very little investment."
6. Reduced costs and capital expenditures (CapEx)Traditional integration solutions can be costly, often require a specialized and expensive skill set from workers, and are prone to break at the slightest change in format or schema. Furthermore, IT departments are usually under pressure from the business side to improve IT operations and help drive greater revenue or business impact, but rarely are given the additional resources to do so.
Integrating existing systems through cloud-based integration helps companies avoid or delay the costs of replacing infrastructure. The Software as a Service (SaaS) subscription pricing model allows funds for integration to be moved from the capital budget to the operating budget, making integration easier to fit into the IT budget, and enabling IT to spend capital on other more capex-intensive projects.
7. Increased operational efficienciesSome of the greatest gains in operational efficiency come from transitional manual processes to automated ones. As we know, this also tends to reduce costs and improve accuracy. With cloud-based integration, fewer people need to manage connections and transactions, as it enables frictionless system-to-system business processes automation.
While every IT team needs to show operational improvements, nearly everyone we talk to is worried that cloud or SaaS-based solutions will mean a reduction in IT staff. We have not had one customer experience where this has occurred. On the contrary, what we have seen is IT staff moved to more strategic projects or to working on new innovations to drive business growth.
A great example of this is with the consumer products division of Cisco, which uses cloud-based business integration to help manage and automate key processes across a growing, global distribution network. While the company says the move to the cloud saved it the costs of two full-time staff, the IT team that had previously managed EDI connections and translations were moved to manage partner relationships and strategic projects.
The same is true for Whirlpool Corporation, whose North American CIO emphasizes that IT people are focused on managing strategic relationships and projects, and the company leverages the cloud and technology partners to manage much of its infrastructure and integration requirements.
8. Extended investments in legacy applications and systemsIntegration can extend the life of legacy assets by enabling all members in the integration community to work from existing systems. With cloud-based solutions, there is no "rip and replace" required, and there should be minimal to no software or hardware required behind the firewall. This is a great way to upgrade business processes or improve efficiencies without having to invest heavily in solutions or migrate processes to a new system. This interoperability and extension of systems is a critical reason many companies are turning to cloud-based integration solutions.
9. Aligns IT with business goalsHow many times have IT leaders heard it's all about "business technology" and making sure IT impacts the business? Wouldn't it be nice to find a solution that provides this alignment with little effort? Business integration is one of those areas that is truly a win-win. Oftentimes, it is the line of business that discovers the need for improved integration, such as the logistics, procurement or eCommerce manager, where there is a clear pain and a need to improve processes. By working with the business on integration challenges and using cloud-based solutions to manage it, you can quickly achieve business impact without negatively impacting your IT budget or goals.
10. Easy scalability and flexibilityDuring the recent economic downturn, it was more important than ever for companies to have the option to scale back on IT and in some cases integration costs. With an on-demand integration solution, companies can quickly and easily increase or decrease connections, transactions or the number of companies in their integration community, and then scale back up when business requires it. In addition, one of the greatest benefits of cloud solutions is the ability to start small and expand as needed, when you are ready.
These are some of the top ways companies can see measureable IT and business benefits from a SaaS-based integration solution, many of which are realized in a matter of weeks or months. Integration enables business process automation across the supply chain, demand chain, general operations, procurement, eCommerce and other business areas. A SaaS-based integration solution can also help remove the challenge of traditional business integration methods while delivering substantial business and IT value.
Beyond the transaction, it can provide visibility into business processes, partner operations and customer needs. Benefits are realized across an entire organization, from business units to IT to the CIO, providing predictable costs, greater operational efficiency, higher margins and revenues, and automated business processes. For these reasons and others, business-to-business integration should be a key element of consideration for any company's overall strategy.
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