CXOTALK Executive Roundup: Shifting business models, changing mindsets, and working together in the new services economy
How is the new services economy changing business? At FinancialForce Community Live in Las Vegas, Michael Krigsman (industry analyst and host of CXOTALK) sat down with FinancialForce customers and thought leaders to discuss everything from the changing world of finance to IT innovation and customer experience.
In our final feature of the Community Live CXOTALK series, we’re delighted to feature three of our favorite visionaries sharing their thoughts on the new services economy:
“Customer loyalty is king, and what it costs to attract and retain a customer is the crux of your economic model.” — Tim McAdam, General Partner at TCV
As someone who invests in growing and scaling businesses, Tim is well versed in the challenges to success in the new services economy. In the below video, he argues the biggest hurdle for most enterprises “is the mindset shift of changing a process,” but adds that embracing tools and data will be critical in overcoming that hurdle.
“No successful company will be an island. It has to work together as an ecosystem
and as a team to achieve success.” — Tod Nielsen, CEO at FinancialForce
In the new services economy, speed is the new currency. But that doesn’t mean you have to do everything yourself in order to be successful. Companies that want to move fast must be able to invest time and other resources in close collaboration with vendors in order to deliver the “yin and yang” necessary for success.
“The new services economy is a really evolutionary pivot.” — Fred Studer, CMO at FinancialForce
In the below conversation, Fred emphasizes the point that businesses now live in a world of rapid change. In order to survive, every company must plan for and execute on how to drive new revenue streams, package new products, and deliver enhanced services to provide better value and utility to customers.