The CFO Playbook on CRM: CRM and the CFO -- A New Agenda for Finance
Date: Mon, Feb 25, 2013
Time: 02:00 P.M. ET
Duration: 1 hour
About CFO Playbook
CFO Playbook is a series of educational Best Practice Webcasts, eBooks, and events providing you with practical knowledge and insights from your peers.
Even as the CFO increasingly is the primary purchaser of IT for the enterprise, the CMO is increasingly the primary enterprise consumer of IT. Gartner says that by 2017 CMOs will spend more on IT than CIOs.
CMOs are asking for (or buying for themselves) cloud-based marketing tools for lead generation, customer retention, campaign analysis, social media automation, and mobile marketing, among others solutions. These tools are now mission critical in many organizations.
In this CFO Playbook webcast, "CRM and the CFO--A New Agenda for Finance," practitioners and experts will discuss the transformation of marketing's practices, and the CFO's new role in driving CRM strategy.
According to Gartner, marketing is now the central engine of growth for many companies. Once considered a gang of creative types throwing ideas at a dartboard, struggling to prove that their investments (print and banner ads, promotional campaigns, and the like) had an ROI, marketing today can point to click-through rates, and tie online and social campaigns directly to revenue. This new roadmap from marketing to revenue leads the CMO right to the CFO's office.
With the advances made in Big Data and business analytics, it's become possible to mitigate the impact of the 80/20 rule (80% of profit is generated by 20% of customers) by optimizing the revenue derived from that 20%.
The way business is doing that is through CRM that tells businesses who is buying, what they're buying, when they're buying, where they're buying, and even why they're buying -- collecting this information in near real-time so it can be made operational. This allows companies to get greater value from their marketing spend, which goes directly to the bottom line while driving top line revenue.
In order to take advantage of these new and powerful tools, CFOs who want to be at the front-end of the business need to be able to answer these questions about their CRM strategies:
- What business benefits can I expect?
- What will the impact be on current and future IT costs?
- How can I ensure that our CRM strategy will work for both the near and long term?
- Is my business agile enough to take advantage of real-time CRM?
As the company's financial stewards, CFOs also need to understand the security and privacy implications of these new technologies as well as understand their customers, using such traditional metrics as revenue and profit per customer or customer segment, and customer lifetime value.
These changes to the way the enterprise does business will have to be managed, and there is no executive better situated to be both an agent of change and a preserver of value than the CFO.
About the Panelists
Vala Afshar, Chief Marketing Officer and Chief Customer Officer, Enterasys Networks
Vala Afshar holds the new position of Chief Marketing Officer and Chief Customer Officer for Enterasys Networks. In this dynamic role, Afshar is responsible for global marketing of Enterasys, including brand awareness, demand generation, social media, PR, analyst relations, channel marketing and much more. In addition to leading global marketing, Afshar continues to excel in driving all global services and technical support functions for the company. In his 17 years at Enterasys, he and his support team have received numerous prestigious industry awards for outstanding support as well as service ratings that are unmatched in the industry.
Afshar is a recognized social media advocate, having been the keynote of several industry events including Salesforce's "Dreamforce 2012." His thought-leadership has been sought after by leading publications including Forbes, The Economist, ZDNet and many more. To his credit, Vala was recently named by InformationWeek as one of the "Top 10 Social Business Leaders" and recognized by Forbes as one of the "Industry Leaders Shaping CRM." Vala was also named "2012 Top 50 Men in Technology on Twitter" by Blue Focus Marketing.
Afshar recently co-authored a book titled The Pursuit of Social Business. He earned a B.S. in Electrical Engineering from the University of Massachusetts.
William Band, Vice President and Principal Analyst, Forrester
Bill serves Application Development & Delivery Professionals. He is a leading expert on customer relationship management (CRM). His research focuses on helping organizations establish and validate CRM strategies, prioritize and focus CRM projects, build executive consensus, facilitate CRM vendor selection, and plan for project success.
Bill is the author of two books on customer-driven business strategies; they are Creating Value for Customers: Designing and Implementing a Total Corporate Strategy and Touchstones: Ten New Ideas Revolutionizing Business. He was named one of CRM Magazine's 2007 Influential Leaders, which recognizes the foremost thinkers, visionaries, and achievers in the industry.
He is also a member of the editorial board of CustomerThink.
Bill has extensive industry experience, with more than 25 years of leadership in several management consulting and systems integration firms. He was a managing director of CRM strategy with BearingPoint. Earlier in his career, he was a partner with both Accenture and Coopers & Lybrand Consulting.
An accomplished public speaker, Bill also has delivered speeches at many events, including Forrester's Consumer Forum, Marketing Forum, IT Forum, and Business Technology Forum.
Bill earned an M.B.A. with Dean's List honors in Marketing from the Richard Ivey School of Business, The University of Western Ontario.
Richard C. Vancil, Group Vice President, IDC
Rich Vancil, Vice President of Executive Advisory Research at IDC, leads two unique practice areas focused on providing technology marketing and sales executives with research, tools and insights to improve operational productivity. Rich created this IDC practice area in 2003 with the initial development of an activity-based managerial cost-accounting system that enables executives to benchmark their operations and performance versus industry-wide benchmarks and key performance indicators.
For this work, Rich was selected as IDC's James Peacock Memorial Award recipient, IDC's highest research honor, in 2004.
Rich has more than 20 years of high technology marketing experience as a both a researcher and market practitioner. In the technology market research arena, Rich worked for The Ledgeway Group as one of the first ServiceTrends program researchers, covering the IT services sector. Following Ledgeway's acquisition by Dataquest in 1990, Rich held roles in sales and marketing for Dataquest, including the role of CMO.
As a marketing practitioner, Rich has been the chief marketer for several early-stage information technology companies. He was VP of Marketing at Individual, Inc., an on-line news service, where he led marketing and contributed to company growth from early-stage through Individual's IPO in 1996. He was VP of marketing and later COO at Shareholder.com; a provider of managed Web services for investor relations (now part of NASDAQ). Rich was also CMO at Tilion, Inc., a provider of supply chain visibility solutions.
Rich is a frequent speaker at IT industry and marketing executive forums where he presents his views on trends in technology marketing budgeting and best practices to improve operational efficiency. His work has been quoted in leading marketing publications such as B2B, CMO Magazine and CRM Magazine. In 2005 and 2006, Rich was named one of the "Top 100 Most Influential" people by B-to-B Magazine.
Rich has a B.A. from Connecticut College and an M.B.A from Harvard Business School.
Mark Verbeck, Senior Vice President and Chief Financial Officer, Coupa Software
Mark Verbeck brings over twenty years experience in finance and operations from both emerging growth companies and major corporations. He is responsible for the company's corporate finance, investor relations and human resources. Prior to joining Coupa, Mark was CFO at BLADE Network Technologies, the leader in high performance cloud networking where his leadership was instrumental to the company's execution through its growth and subsequent sale to IBM. Prior to joining BLADE, Mark was an executive and prominent Wall Street research analyst covering technology companies for firms such as Cantor Fitzgerald, Citigroup and Epoch Partners (acquired by Goldman Sachs).
As a former equity analyst, Mark brings broad exposure to successful corporate strategy, capital processes, and acquisition approaches as well as experience with complex accounting and reporting issues. Prior to Wall Street, Mark worked at Deloitte, the global accounting and consulting company.
Mark has a Bachelor of Arts Degree in Accounting from the University of St. Thomas.
About the Moderator
Russ Banham is the Senior Writer at CFO magazine. Over the past three decades, Mr. Banham has written close to 200 feature stories for CFO and CFO.com, as well as thousands of articles for many other business publications, including Forbes, The Economist, The Wall Street Journal, Financial Times, Chief Executive, U.S. News and World Report, Journal of Accountancy, and many others.
He is the author of 23 books, including The Ford Century, the award-winning, international best-selling history of Ford Motor Company, translated into 13 languages, and The Fight for Fairfax, detailing the extraordinary economic growth of northern Virginia in the aftermath of World War II. His various books have led to several television appearances, including on the TODAY show and A&E's Biography. He is currently writing a history of aviation in Hawaii.