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1 | QUESTIONS | NAME WITHHELD, GCSP - Market Activation Leader | NAME WITHHELD, Partner/Principal - Head of Software Strategy Group NAME WITHHELD joined | NAME WITHHELD, Digital Strategy & Enablement | NAME WITHHELD, Director of Digital Strategies & Solutions NAME WITHHELD, Digital Product Manager/Digital Strategy & Enablement | NAME WITHHELD, Business Process Owner for Opportunity Management - Mercury | NAME WITHHELD Americas Market's Digital Transformation | NAME WITHHELD, US-West Business Development | NAME WITHHELD, Global Managing Partner - Customer Success and CTO Global Markets | NAME WITHHELD, Energy & Resources Market Segment Leader (Japan) NAME WITHHELD - On BMC and works in Marketo too to maximize | NAME WITHHELD Mercury | NAME WITHHELD Business Development | |||||||||||||||
2 | Stakeholder 1 | Stakeholder 2 | Stakeholder 3 | Stakeholders 4 & 5 | Stakeholder 6 | Stakeholder 7 | Stakeholder 8 | Stakeholder 9 | Stakeholder 10 | Stakeholder 11 | Stakeholder 12 | ||||||||||||||||
3 | 12/8/21 - 9:00am ET | 12/8/21 - 1:00pm ET | 12/9/21 - 9:00am ET | 12/9/21 - 2:00pm ET | 12/10/21 - 11:00am ET | 12/10/21 1:00pm ET | 12/13/21 1:00pm ET | 12/14/21 10:00am ET | 12/09/21 6:00pm | 12/16/2021 12pm | 1/5/2022 7am | ||||||||||||||||
4 | Role | ||||||||||||||||||||||||||
5 | What is your current Job title? | GSCP, solution activation | was a tech guy, built firm he sold to EY, advise on software acquisition—helping with product and tech lens. Product people and software. No one writes code anymore, but advise. | notes are below | More Finance, Robotic Solutions, Enabling Business from a workflow perspective. | Run america's "wavespace", https://www.ey.com/en_by/wavespace https://www.ey.com/en_by/transformation-realized | (power user, active, metrics and tagging-oriented). A *Legend. - Happy to stay engaged on the project (lets show him a bangup Field of Play screen) | ||||||||||||||||||||
6 | Please briefly describe your role and responsibilities at EY. | End to end process delivering How to configure certain things. What an end user receives and what the developers | End to end process delivering How to configure certain things. What an end user receives and what the developers | High level, sales, | takes things to market and has been on LENS since the onset Works with KRis and Sherry, and maybe their supervisor. | Worked on LENS with NAME WITHHELD on day one. Gloing to go live with Mercury in Feb, just working towards that. Wants to pull in Marketo, and have an integreated system, dashboards | Was head of sales. All client executives along client service partners ... 150 in total. Working with clients to drive oppty. Was very sales number oriented. Now Im a client service partner. 4 large clients, 2 in consumer product and 2 in retail. Good understanding of what client service parners need to manage a pipeline. Should meet NAME WITHHELD and NAME WITHHELD... now BD Biz Development, now they are responsible for all the 6 sectors. They have a system and greater visibility and made Dashboards, and manage pipeline that way. I dont look after people any more. Looks after clients. | ||||||||||||||||||||
7 | How long have you held this role? | 7-8 years implementing the tools or an automated CRMs Now private equity and mergers in tech / services aspects | 20 years, started in IT, and evolved to digital product team usually the background/oppty has been a backburner, lack of culture and reality and avoid the ongoing maintenance for crafting, manintaining the pipeline | Mercury since starting, 7-8 years Works with Kris Business process side, End User Experience! : ) from a user perspective | 22 years, CEO at 2 other companies in tech, in toronto now and dept cvice chair, and now represents client tech strategy. | Lotus notes based system for over 15 years, and pipeline management Closings, set to win, funnel reports, then transitioned to Interaction and met S and E Then transitioned to Mercury program and now rejoining markets and report to NAME WITHHELD | in a new role right now. now client services, was BD business development. | ||||||||||||||||||||
8 | How long have you been at EY? | 25 years, global markets finance | 26 years | ||||||||||||||||||||||||
9 | What does your typical day look like? | ||||||||||||||||||||||||||
10 | What’s most rewarding about your role? | using tech to solve business problems at the first | Relationship Map - we build relationships and are proactive and results of executiion of projects. People chase short term relationship and lower growth in the G360. The challenge is everyone is in the G360, and we haveto build trust ,focus on things that are right for us, higher win rates . Sole source. More metrics, who are are developing them with, what the impact of building the relationships is. And been in CRM Accenture customer business and integration, CBOL, SAP and telecoms and his view. | ||||||||||||||||||||||||
11 | What’s most challenging about your role? | WE dont have a CRM or PSA (professional services automation) system and the largest firm without one. We have 27 tools all in Mercury, and then excel workbook, then doing a pricing plan cobbled togethers. Salesforce and many other systems can do this. Not great, but better than nothing. We use things cobbled together. High velocity. High velocity, stages are fast, some CRM is built, Mercury has things in Mercury we can't track, and we can build our own on analytics, inbound conversion rates, sectors, SAP tracks a client but not the merger target. We really care about the merger targets. REal critical info we need and beyond a practice needs. Has to be done in a few clicks at a high velocity. Pipeline misses a lot of data, and use Mercury for data entry and win rate is artificially high. | LENS adoption and mandating. I have friends on SF, so this is the best thing we have to embrace it. I dont care about the tool and how it looks, but lets use it then use the features better and easier. More of a stick guy, and had to keep things up to date and had to enter cards into computer and every CRM. It's here to help leadership manage software sales. We try to make it too nice, and IF you did it, you got paid. If you dont do it you got fired. We have to mandate things. We develop tools for quanittative tools. We have the tools, but we overbend backwards on how we make it easier. You couldnt make a harder system harder if you tried, but it's just how you run your business. | Must be in the pipeline, Mercury was the way to get people in to get people to track things and forced things. We force people to put it in, but have to do it to win. Now we can open it. We add more to the pipleline now, but it is more data, but not better. They dont manage. Is the data clean, probably not. We force them. John: we dont see people reporting on the pipeline cleanliness/quality. Aniticpitaed win date... we have a lot of aging data past the date, then they just kick it or just leave it sit in the funnel. Put an autmated set to a decline after 90 days. How hard to quantify bad data like percent to win, state of oppty. | |||||||||||||||||||||||
12 | Opportunity and Pipeline Management | ||||||||||||||||||||||||||
13 | What is your role in relation to opportunity creation and management? | “Pipeline Management” - considered a compliance exercise, what does this segment look as an inconvenience. Not as a long term portfolio management—different values dependent. Make it not a compliance exercise, but how they progress their journey and what is the next thing we can do to help them grow their accounts. Seen as a compliance tool. They don’t see it managing their book of business. | problems and solutions within CRM are his domain, what data is out there is outside our realm and what do we want to pull in, and what are our "carrots" | Timely conversation, and wants better visibility. | |||||||||||||||||||||||
14 | What is your role in relation to pipeline management? | Doesnt know about reassons to carrots to fill out more than the required activities. John tells Erick about Robin interview: Sticks - it can affect staffing and if someone is a good sales person, why is pipeline important, how can we have the right resources for you. How do we predict resources, do we have the risk skills, what do we have to tweak around resourcing to get the right margin. How do we have visibility, and how do they share the right info. Erick: people are reluctant too early. Carrots - bad vibes, less scientific data, and how we can collect. | We renamed all our competencies as Fields of Play, but we stole it... it should be jsut to a client. We do the same thing over and over and rename it. Internal Audit became intersomethign and then is now a Fields of play Most of our large accounts are doing the subsets and opportuntiies and Fields of Play is really helpful. | Key measurements of success we use to manage pipeline: Weekly, topdown review of pipeline. What wins, what losses. Weely review 4 sevices lines, BDP people, and also in each of field of play, each of the FoP like Commodity Trading has something moved forward, is there an active pursuit, what could be added to pipeline that we'd want to put into Mercury. How can we put in a draft? Identify is too real. We want service lines to own, so not sure about BD teams and. We get service lines people to put them in. "Pre-identify" to get more on the board. "we need to get better at some of that, but it does get in your face with 18% lapsed opprt" as a notification. | |||||||||||||||||||||||
15 | What is your high-level strategy and vision for opportunity creation and management? | ||||||||||||||||||||||||||
16 | Do you have specific objectives? | ||||||||||||||||||||||||||
17 | What are your KPIs for determining the success of those objectives? | ||||||||||||||||||||||||||
18 | What is your high-level strategy and vision for pipeline management? | ** Forecasting notes in EY Miro board - At projected revunue, how can we show our connection strength to our network, and how that target number might flex depending on our pipeline and connections to spending power with the client | Find client's field of play. 8 for Mitsubishi. What pops up next for the client. We are building teams around those fields of play and driving activitiy. Every month there's a FoP meeting, across geographies. Like Mitsubishi trades metals and brings people in about that with a system to trade aluminium to trade in London. And we try to ID opportunties on that call. | ||||||||||||||||||||||||
19 | Do you have specific objectives? | ||||||||||||||||||||||||||
20 | What are your KPIs for determining the success of those objectives? | ||||||||||||||||||||||||||
21 | How are you looking at your pipeline today? | John told Erick about Management coming in too early and unhelpful to have them breathing down your neck: Erick agrees that it's a larger org issue, but the idea of drafts might not make that trigger fire, and then fill into move from Draft to Inquiry. So we aren't speculating that much. John told Erick about how Robin liked the : pursuit workspace area. A safe space. How can we connect with other friendlies, and what qualifications as a firm. ERick: managing the busiess fineline vs what is ideation and draft. We have to balance the solution, and what balance we strike. We can communicate informal information, like trends, and not precisely the formal aspect of how that lead is tracking and not call out specific people. | 3 accounts and uses lens for Mitsubuishi - Global 360 1000 engagements per year, 45 countries Tagging in LENS is key for him to evaluate and that is sort of "rigor" he thinks makes LENS useful | 1) Very different behavior and how service lines are managed. We look across all service lines and some a) stuff the pipeline b) Strategey and Transations move faster, the variety of the way pipeline is managed varies i) whether it's Idenity, or Pursue and when people create... The sticking point is in if they are live, updated, tracker, reminders and progressed. Was trying to drive people to update, and move along the pipeline. You dont let people idle. You want to see new ones move and keep it more fluid, as a reminder mechanism. Lots of dead stuff in the pipeline. We want it to be true. | |||||||||||||||||||||||
22 | Are you more focused on account level views? Client level? Individual opportunities? | John: Annual planning, account planning, and is there a "go get" number when it's a thing we want to pursue.l Erick: How we compare revenue against pipeline: Forecasting: but called "Revenue Plan" in EY Global Intergrated PLanning-goal setting: top down leadership in the next FY. Revenue Planning - bottom up. Both at the end of the year, July 1, all the targets teams work towards. WE do track that "go get" number in LENS. | cant get hands around all of it. I approve all opprty as that move through. And use PACE for awareness of what we should and shouldnt be taking on. We have a gateway to approve as a GCSP. I dont manage the cycle itself, but identifying fields of play and driven from client issues (both Fields of Play and Buyer-Based Fields of Play [the 14]). We tag people in Mitsubishi, who are relevant to the field of play. Could be a 100 people. WE need to have handle to know our people and who can help us engage in theese new fields of play. Who is tagged to the field of play, and how we can track actions to people and we check in on the actions we did last month. | ||||||||||||||||||||||||
23 | How do you roll up opportunity metrics to understand the overall health of the pipeline? | Storage, servers, IT support, all that helps in forecasting. | 1) No motivation to put it in. No one asks you for it. If you sell, then who would care. 2) When you put it in you bring scrutiny on yourself. You put in an HSBC meeting and Ill help you, but they do not help but get weekly meetings to scrutize you every week so you can tell me. LENS can see who is on my team, who has the responsibilites, finding friendlys inside and about what proposal can add info. If the content doesnt exist, why would someone want to use it? Names of people on the account are already there is a bigwin, and how the roles show, and you have a project team. If we already have relationships with Client Procurement, we have a big win—as that's usually an entire task. And can mess up an engagement timeline, and 12 weeks of t+cs of starting up. Specialists or risk advisor might not know all those people and MSAs are in place | We report with Fields of PLay now, because Service Lines are less siloed. More a cohesive account team to look at things better and better collaboration. | |||||||||||||||||||||||
24 | What fidelity of reporting is most valuable to you? | Re: Pipeline Reporting "my business" "markets reporting" "mercury" sets of tools for forecasting and meeting with "Paul" and he can pull up and show us the level of detail. John: we dont want to replicate, but infer opportunties. Understand the current landscape. John: can you list out the current forecasting tools like "greater than 90 day out"? - My Business - pipeline metrics standard tool, account teams have a similar one. Personal view and account view. Owned by financial team, and what is scheduled to hit the books. – Mercury / SAP feeds into MDFL – People data feeds in – ARD - Account Records Database - assigns ownership, where does it reside, reporting and management attributes. The what, who, tabbed, consolidated. Primarily a feeder. - MDFL - (Markets Data Foundation Layer) A data warehouse to align it globally, crazy logic to give units credit (double counting, so there's double credit and recognition), currency conversion standardization, augment, reporting and what is coming in within "Mercury" and "Interaction" feeds a bunch of reporting systems. Have a variety of reports and it's not standardized. Primarily a feeder, but does send out data too. MDFL had a sales assessment of what level of sales objectives, and compensation is built and is driven off the MDFL data. Businesses look at so many things differently, so when we drive tech, it doesn't fit within their business unit, and discredit it. Tax might be a long view, others might ahve a shorter view. John: still kind of a black box, and how we can enrich the data. How can we enrich? Erick: we can have a funnel on the front end and is the pricing feasible, and it is something to commit to. A lot have their own subprocesses, but use this data to inform their spreadsheets. | Identification of people, and a mini-prioriztation of those people to gain insights. People come together for 4 more major service lines and weekly call of what we hear on the account, and how 10 verticals of Mitsubishi. It's a good forum and this is what'shappening across 8 fields of play. Ideas but constant insights that allow us to qualify those ideas. Identify and Qualify are not super rigid. | Field of Play with nested Services and Verticals. This is all very tactical. But relatiionship map... strategy... 101 is what the client wants fixed, and size of the pie bigger by driving more work to the client. What is the strategic goals... colleagues, customers, finance... what is the agenda for the client... we attack it and find the relevant people. CEO, people person, Agenda items for example: hit 100m, for CEO, CFO and their particular interests. (Time 25m in.) What is the stakeholder interested in. What is the Venn Diagram of all the Agenda items for the account? Who is relevant? (I have a presentation showing that.) It's in our construct not the clients, but we share with with them. Start with the client's issues , vernacular. Maybe a 3d model.... how close is it if it's a 3d mapping. | |||||||||||||||||||||||
25 | What types of reporting are most valuable to you? | When did we meet with clients, when did we send emails, how do we deliver the context coming back from the data. Surveys via email, contacts via email... how can we gather that and elevate the data. Buying preferences are automated. Are they tech or human capital, what is their purchasing and operational truly – from the data. They dont have to call 20 people, and they can get it surfaced in the system. Bring these ideas in to the system . History of Email Integration- CRM Global - 6 to 7 years, what isn't being put in? If we look at our network of who we know, should we automate that. We scan for key terms, Cybersecurity, and can link back and we dont know context. How many times it's been done. How can we use active . | Value in external account based marketing... tagging things in the pipelien and in the brand marketing and collateral, what is the pupeline stuff and do they know about our work and create campaigns. Now we assign a Brand Team to create an account based program. It's expensive and non scalable way to do that. All the infor on :captive insurance: and how can we market all that, send to the account teams and how we can do so much more with more robust adoption of any tool. | Fields of Play is the connective tissue, and a good translation, here's what clients care about, and here's who we map to the Agenda. His design... it's in peoples heads, and you find things, you need to update. Someone from the account asks about an engagement you dont know about, or another conversation. LENS has helped with the overlap, but it's about discipline and behaviors more than the tool. News articles, infor is helpful to round out. | |||||||||||||||||||||||
26 | If you had this type of reporting available to you, what would you do with it? What action or change would it drive? | Qualification challenges: clear criteria. Relationship strength. Blue Sheet, Miller Hyman, strengths and weaknesses. Budget is the ultimate qualifier. People who are genuine about how its going to get funded. and people dont want to ask or answer or trust enough. finding out the budget, and how honestly it's answered. If clients are sheepish, I ask all the time. We dont have to guess, I can give a scope, go thin... 150k for 2 weeks, or deep 1.2m for 6months? Youve gold plated that. We address and qualify around a budget. People are afraid to ask, clients dont want to be milked. Too thin or too heavy. Biggest issues around qualification. | |||||||||||||||||||||||||
28 | What decisions do you make based on pipeline metrics? | We've tried to standarize Deal Review, but we aren't doing a central managed process. Most dont want a standard rule applied to them. We arent investing in this, and the teams might want to pursuie things outside of the EY guardrails. | we look at all the wrong measures on pipleine. What is accuracy value? staleness of deals, how many edits on the page, how much churn do we have, do we and a bigger pipeple or new? all the backlog stuff and it just sits and clogs it up. no one is managing it and were cleaning up the past dues (on the deal, not paid), we kick the can and change the date. we arent doing the right things to edit it. Kick it out and creating artificial pipeline, but how do we get it out. Account teams wont care until leadership cares and make decisions on it. Helps leadership, but leadership has to rely on them and theres no reason to update things that dont get use. Leadership doesnt use it to decide. | When things are in identify, and had a trade conference with 30 CFOs and you have oppts in your Identify. People report on spend $30k on conference. You put you created $200k for each person but not really. That is Identify, but an inflated or truly measured. Not Qualify. 900 client executives and a sales team, and industry people. A big culture of client executives bulking up the front end. The account team might not be putting in huge Identify, but client executives want credit for it. People would be pulling pipelines for all countries. Client Executive are incentivized and "loading" and where is sits because of what's the followup or reason to track is low. Drag and Drop is super easy to move forward in LENS. | We see the bloat as a result and how things drop out. People try to jam things back in when they come out—but you got it wrong. You cant put in the same place it was. You got it wrong and have to start over. | ||||||||||||||||||||||
29 | Which specific metrics drive those decisions? | Backlog: Calendarization, timing, has option to forecase, but we dont share it to everyone yet, there's a lot of variability, certain contraints, all really useful but hard to present it to people where it's effective with account goals and EY organization. We are a "cash basis" so we invoice at the end of the year, and we can project out that to everyone for revenue. | From Qualify to Pursue / Close: How we track? WE have a set of Pursue actions... have we engaged all the stakeholders, buyers, coach, the right credentials, actions, competition, are we doing all the right things to learn about those key elements. Win theme, etc... very broad area of focus for pursue. "Health Check"? A list of recommendations of things to do. Pipeline managment seems to be an audit activity, but if we can help you close things... can you give more carrots... but Service Lines use pipeline differently. BD would use it as a proactive tool. How am I going to improve my numbers, how am I going to close this one/ (from a BD perspective.) | ||||||||||||||||||||||||
30 | What other roles access reporting information and at what fidelity? | ||||||||||||||||||||||||||
31 | We understand the phases of your sales process to be Identify, Qualify, Pursue, Close. | Biggest area is visibility to thinkgs early on before or in "Identify". Go from Identify to Close can vary by service, geo, service line, subprocesses, approvals in place in the app, deal review, all complex–we're not that formal, and all steps are variable—trying to figure out the internal org itself—but the identify area seems the most impressionable. | 4 service lines Very large accounts, very small core clients, (stages work great in large accounts) Key to all is ease of Identify Stage, how to make that interaction recorded. No mobile app, no in the moment app, pick up the phone or send an email, go to the system, perform the activity. The goal is to make it as easy as possible, and as easy as doing a mobile app, and recording a few points of info and let the system do the work of creating the record. Can go back and enhance, but what is that first login and how does the pipeline. Teams arent great at moving things along the process, and as close to real time as possible. | ART - Agendas , Relationships and Trust We have been driving this model, but not an EY model yet. More the long game. Short game- Good relatinship with procument dept of the client, and respond really well. Looking at win rates, how fast it's moving, revenue generating, sales generated, measuring on revenue and how busy the people are. Long game - But wants to have a few clients, long haul, ttrusted relationships ahead of any sale. 1) Identify What relationships we wantto build, who is going to build relationships, where are we in the relationship, and it is producing fruit. 2) Priorities meeting to conduct "gracious acts" to invest with client to build trust. And we want to have multiple meetings with them. We meet that person in the community or in corporate board or same soccer team of why we have trust in relationships. Best trust was built on a screwup and fix it and got face time with CEO. How do we Ketih Ferazi "Never Eat Allone". Deeply invest in their priortiies, and do 7-10 gracious acts we demonstrate reliablity, understanding of their issue, the trust is happening, or call about issues, or sole source work. More sole source work, higher margins, willing to pay, and they dont have to do an RFP, and level of interfacing. A lot more activity of gracious acts, reacting to social media posts. GSCP say we can do $1m per account. We need 50 people for $50m, and 100 people for $100m per month. One single human being and the acts flow from that kind of trust / activity. Measure activity upfront. We have a trust index A R T in LENS | Proposal Process and getting Closed are the hardest. He has been on the operations side, I've been pushing for pipeline management. 15 years ago, we'd been using people ineffectively. We've been looking at people in the past data, and cutting people. Gut reaction has been to get rid of people, we need to understand our pipeline and see AI oppt people, we need to invest in more AI people. We used to capture if someone is going to win, and we couldnt hire up in 62% utilization, and we'd cut someone from an operational standpoint. We need to encourage people to put things in the pipeline, so we can plan and meeting. If there's a small pipeline, you aren't showing me a future, and then we can staff. If you don't put in the data, we're operating from what you are showing me. I am giving more 0% to Identify, 30% to Qualify, and 100% to Close stage. I am looking at where I should spend my money. When is the revenue coming in? Is it $3m now, or $1m over 3 years? Is the money coming in first, or later? Does it cross fiscal years. Is the market going down, and you only sold $200k, and the client is going to pull out. It's about "headlights" and how can we know who is attached, who from the EY, what is the operational perspective. | Identify and Qualify are fluid and many things drop away as they learn more. We talk more about closer to qualify than identify. We know more about their internal tchemical ask force, so we positioned ourselves to help on our knowledge help on the chemical export process. We were in the conversation, and we know they are interested in that space, so we received the RFP but already in the conversaion. | Does well in Merc: Everyone wants to go to SF or Dynamics, but the system isnt going to fix the management and updates and murky data. Merc / LENS should be good. One common platform, same screens (was UK+I were different from Americas). One instance to search for oppty globally. It forces someone to engage by opening a job code. Mercury data structure. Does need help in Merc: There's no commonaility in terms. No programmatic checks on how the firm equates those very important values. Dan: Even if the stage / steps’ defintion are loosely mentioned in the system, do you think the data / status similarities might be tighter? Also the same question with percent to win (Dan: this kills me) | WE have about 5-7 montns to really sell, holidays, and all quarters arent equal. Sales cycle. SEasonailty and fiscal years are coming to a close, and we try to get in those spots. People sock the projects, until the next quarter. We have more in the hopper for the next quarter. John: Pipeline consistency can flux, and they go up and down. We can see they need help. Mark: We escalate big deals, so we can target better. Most people dont look at Pipeline as a regular basis, should prompt people to look. If we bump win dates 3 times, we get rid of it. Very harsh to delete it. Or if it hasnt moved we keep it but if we set criteria, win dates, what would the shape of the pipeline might be better. It's about the discipline and we can hopefully tell how it is shaped and if it's good or not. We dont just want to move things around. Mark: I wanted to drive more of a sales culture internal, but he's not a sales person. We are client relationships, but there are good sales culture disciplines... rigor and hygeine and drive more of a sales culture, to give us better information. A better view of how our business is performing, and how are we performing? How can we be more fluid, accurate, ongoing. Not just a single moment. Flowing to get things into "port". Pipeline activities are not rewarded. You get recognition for the year end wins. But how you get to it is the key and process. Rewarded people on quality and accuracy, that would change behaviors. | |||||||||||||||||||
32 | For each stage, tell me… | Identify to Close—things that can slow the process down are subprocess like: PACE or the risk app may slow it down, are we permitted to do this? Deal governance. PRicing / rate cards arent updated, and the pricing is reviewed by leadership, are there subcontractors in the process and creates more effort. Pricing is now in Mercury and has global resource and has the margin built in. They are forcing consistency though the tool. (And that makes sense to Erick that it's enforced in the tool.) Legal management, terms and conditions are or arent updated. | Sherry: Identify - connect things that relate to the deal, can i start my oppot from that email. Dan: Freemium Model: what can we give them right away at the point they open and opportunity. what can we give them to make them come back and reuse the tool. Dan: those who have all their stuff done outside the system, they arent going to use it. but who can we capture. Kris: Person who has a pipeline, we can show you what you need the fastest the most. Kris: are we wasting our time with some leads or not would be good initial info Sherry: what do want to know and how do you want to measure that. Im trying to help you. "It's easy—Put the data in give me some credit. They are basic." Sherry: what we deliver becomes so easy, it's a big win | What is captured at each stage: Identify: not a lot of finance and planning. Markets organization would have a better idea, but client name, reference about the project/what is it, and "some required inputs to create a record" Pursuit leader, minimum, oppty and pursuit leader, and a stage and team members. Client contact. Tagging with a campaign. (but all this can be after to enrich). Quality: Enough discussions, right context, can I get to an RFP process, are we going to pursure 10% likelihood Pursue 50% or above percentage of confidence, start to invest time and energy and what is our proposal. Financial modelling comes in here, and scope has been discused. We need to get into staffing, margin and other financial. Are they an existing client and do they do throught the risk and if they are acceptance process and if we are going to accept the client as a client. Service offering has been completed. A recurring client a lot of those steps would be covered, but would talk about fee and fee ranges mostly. Data comes together here. | What can we do to help: Number One Issue: ART Master Class. Behavioiral issue about getting clients geting an agenda meeting. We want to understand your needs. Agenda meeting and it's broader, and how can we help and learn what's new. Needs to be insighful questions and tell stories about what others are doing, and it's an amazing. They get to talk about themselves and get challenged around their agendas and industry challenges. These things get tracked in email and then can be tracked in LENS. Accounts that do ART is done on a spreadsheet by a spreadsheet by a GCSP. We work with client account leaders who want to do it. GCSPs gatekeep around credibility, and if they dont think you are, they wont let you in. ART is helping people convert. ART is only word of mouth and like that philosophy. GSCP is frustrated by not building relationships and transactional. (ART is a framework that may work within LENS, or aspects within LENS that may work for some.) | "They dont care when they put it in." But I want to know things and how quickly can an outsource deal take, but I dont know because no one has put in the data. I can forecast better or slower when I know when it closes and when it pays off. "They" are expected to put in guaranteed to put in a 4 year annual engagement if accounting. Need to see if it's replenished or not, or does it sit in backlog (difference in what is delivered). Labor is there, but no opportunities for them to do. Different levels of scrutiny and US is quite focused and religion. Non US throws it in. They are missing the management aspects and what LENS does for them. | Identify - Japanese at least really think the credibility is the most important aspect. We hired a former Mitsubishi and the boss of multiple people on the task force. (How do they find people within EY who might have worked for that company. Former employees and title surfing.) We'd rather hire them first, and work with them within the tent. | Opportunity vs Engagement ECC opens the Engagement, after set to win. But there's an engagement gap. Opportunity was $1m but was only $500k in an engagement. Each can be 1:1, but now an opportunity, multnational 1:many service codes rows of data... Oppty at CocaCola . global tax and auditing... $25m globally... Pick a region, service code / service line, sub service slide, one fee, can get list out individual engagements by company serviceline and dont double code. US and Brazil, two separate rows on oppty. If it's not centrally billed. 5 line items, can be 5 separate engagement. Also Centrally Billed, one country may take all the billing for others. Mercury advantage: the oppty creator can break it out do a multiservice code oppty. But some may not use that. John: why do we tag it then, and not further downstream. Paul: hard to know what is what, and hard to relate them together. Fields of Play/Tags are not tied to service codes. | We want to balance the capture revenue vs the pipline and the "see saw" balance. That is the challenge to see. What are the measures for the leadership? How can we have better account handling, and give the best, not just who is around? We want best the for the client. So we need to think about Field of Play collaboration—not just KPI, but the composition of the teams. One challenge is the diversity of our engagement teams. How can we demonstrate our versailte teams, male / female, DNI, rich diverse team. Cool idea. James Obrien: very much the sector way of looking at it, would be very helpful. He is interested in sector. More of customer focused, and the internal accounts and sector levels and geographic levels. Very matrixed org. Quite influential and controls, but Geography wants to know about it from their reference numbers / what is a win. Sectors are the most prominent way we categorize. KPMG was very sector oriented. We're getting mroe that way. Definitely over Geography. Geography is just for pipeline viewers. | ||||||||||||||||||
33 | All of the steps involved | They (partners) will want junior resources with the sales enabler information, to enter data and they can work the opportunities. “They don’t have the type of the tool to help them shift on that cultural curve. LENS is the right direction, but we still need cultural change.” “Ease of use, it if’s slightly onerous, it won’t get done.” People won’t open thousands of email based on the title. - Significant amount of data fields entering into the system. Opprty Edit and Oppty Create keeps people from navigating into Mercury. * We might want to have people show it to us and what is a pain. | Approvals are needed : – Deal review (is it the right profile, do we have the capacity, approval to commit, pricing, solution is it within our protocols, do we have a longer tail on the engagement, how do we figure out if it's an investement with a long tail that we want to chase the business for the recurring work/revenue.) Most of this sits outside of the typical process and has to go to multiple people. Additional Approvals needed based on the strategic imporance: | Sectors, geographies, compentencies (service lines) = dimension Client partners = sales partners are spread across all dimensions GCSP has resources allign to the account and how to make sure $100m is resourced and is called "Interlock" ART and LENS solve this problem. Major potential motivator. G360 idenifies their 10 fields of play at coke. First field is supply chain. we want to be involved. GCSP who are the top 5 executives we need to know at coke in supply chain. GSCP ID's the executive and who is hgoing to own that relationship and commit to develop that relationship and they are supply chain experts themselves. "PUt all this in LENS who they should contact of supply chain leader and these are our most important clients, and "open relationships" we need ownership and it's "INTERLOCK" 0 or 1 in a trust index and then we can get into 3 or 4 for add'lt $50m of revenue. Forward planning and how much or many insights we can tag or report. | Pursuit: hard to be rigourous (John's question about the art of info and closing:) What have you found helpful? pursuit: WE beat out McKinsey, AT Kerney, S4 Hanner, at a strategic $300k job, but maximized our global network and our global network in EY AUS and UK and got info and credentials and person who pulled it together was the consulting lead, but had a good mix of things. Dan: what infor about EY employees do we have , and how specific (hydrogren)? Very proactive, but a good call for help/internal EY resources. Bad example: Mitsubishi acquired Holland company, EY team wanted to handle things their holland group their way and dont need or appreciate and dont want to share. Sadly internal divide. Went to PWC and beat on price. Had the right team but not the right commercial strategy and didnt have all the info. WE didnt have all the connectivity or the shared info. | No inline account creation. What is account structures? Parent Child / Everything is at hte client level and all clients role up to the DUN structure. Contacts are sepearate from pipeline. Never widely used. Contacts are just for marketing. 90% dont have contacts in Merc. Not required entry. Account teams track them themselves. Marketo is for our martketing system and have to enter in MErcury to get into Marketo. 11M contacts. You need contacts for Marketing in MArketo. Can tie to "Entity" and entera client picklist. And you can only enter it inas a number, but most accounts know by number. (Tribal) knowledge. OR search by Entities. And then find the right one. | |||||||||||||||||||||
34 | Timelines for activities at each step | ||||||||||||||||||||||||||
35 | Amount of data needed at each stage | ||||||||||||||||||||||||||
36 | Types of data needed at each stage | Show and tell | |||||||||||||||||||||||||
37 | Documents involved at each step | Downloading of documents would be helpful | |||||||||||||||||||||||||
38 | Do you have standardization of documents in deal stages? | ||||||||||||||||||||||||||
39 | Agreements made at each step | What data points should we use outside of steps: trying to move more teams on to lens and if the data is on the system and forecasted, there's no email traffic, no statements of work, there's no deadline and kick it out... they stay in the pipeline. more statistics if we were using it and when was the orals date and the rfp, but that has to stay up to date. and cant find him. quantitative things and could move to qualitative that we arent using it now. what early indicators can we get during pursuit. we meet with a client implication, probem and aneed and who has authority. in a deal, who is the decision maker, if so who did they pick, have they done this budget, do they have the authority, get to green process, categories are - a) desirability ... do we want them, worth investing, b) winnability ... do they have budget authrotiy, do we have win themes... and tested.... c) delierability... reference that we can do it. we ask our teams to do this as a win strategy session. 7 questions and how we rank, red yellow and green 1 - Bluesheet / relationdship map, buying criteria, how we approve, recommend, and that needs to be at that meeting too or brought to LENS. 2- Power map, power buyers, approvers, recommenders, and how it all relates and what is our access Mostly in peoples heads and a spreadsheet, it should be on a spreadsheet from identify to qualify and adding discipline would really help as a business delveopment function. Transrmational opportunities early on and then it's tool late to change coulse. | 130 active engagements at BoA, but lots of fly in and fly out mixed. Not that people know all each other. Coca cola in 50 counties, we dont know what is happening in Columbia vs Switzerland. We do a big planning each year, and expecting a few m from you and a few m from Argentina. Pipeline is planned each year. Special pushes for managed services, if we create a new cyber security push and how the opporinties and prospecting would be a good place to push. Managed Services will have a few fields of play. EX; Mobility Products- is a Managed Service. We'll do cross border app, to detail how often they are in country, and how it's going to trigger a tax even. Not going to manage cross border travel. We then create an entire partnership tax return because of one person. A field of play might translate into a pipeline. Make recommendations for service. Has been involved in data science and likes that the data can tell us these things. We want to do forecasting and were not there yet. Right now we want to garner results from past history to manage the pipeline is a fair goal. | ||||||||||||||||||||||||
40 | Other teams involved in each step | In Mercury: Different service lines and in markets and tagging and campaigns and service lines, and very large accounts... makes sense But shorter processes people use it as after thought. Assurance Service Lines has large projects, (Channel 1- independence related clients, Channel 2 - highly regulated, quality requirements, highly managed and lots of restrictions.) Strategy has large projects, but smaller in volume, more contingent, Required Fields - Service lines and Size are the two processes are the same and required regardless of Service line oppty. Many are optional and how does the user know what they should and shouldnt be populating. "Our users dont want to complete it and then we end up with all these gaps." Tagging campaigns, doesnt happen. Lots of rich data if people tagged, or taking through each stage. We tag things to know if it's large or if we want to flow things. Lots of fields they are instructed and forget or dont. | |||||||||||||||||||||||||
41 | What does that interaction look like? | ||||||||||||||||||||||||||
42 | Do you have standardized probabilities at each stage? | ||||||||||||||||||||||||||
43 | What are your thoughts on the current model of how EY uses probabilities to weight pipelines? | ||||||||||||||||||||||||||
44 | Should % probability be used in all stages? | Qualification and Closings space. "They" put in a proposal stage, but might be a 10% chance of winning. A million reasons, bad vibes or human nature, or we dont have the right experience, timeframe too short, and you need "consultants" they arent going to give up their time. People will put low percentages. | |||||||||||||||||||||||||
45 | What external processes does a proposal advancing through the pipeline trigger? | Want to filter about warnings about close to date. Charts showing pipeline by stage. Weighted pipeline vs Target for year, to workout for gaps. | Accounts are a legal entity, and we do business with "Clients". In Mercury, it's not that cross matrixed. It's just a since account. (Microsoft=only one slice, and doesnt show all the business lines, geographies, and not and overall account umbrella). Not hieraarchy in Mercury. LENS does have the account matrix and manage it holistically. Shows the account level structure. (Microsoft= Skype, Linkedin, Microsoft East Coast) . | ||||||||||||||||||||||||
46 | What challenges prevent a deal from advancing through the stages? | Getting better qualitative info might be helpful like culture, needs, the account, team, pain points – that's the "planning aspect" and we're just starting this AMF Amccount Managment Framework. PEople will load stuff when pushed and jam in for checkpoints and could be wrong or inflated. And our forecast is off. But usually a fire drill, and then Oppty fill in like magic, and poor behavior. *John: mindset change, you are running a business, and making sure you are managing the business (easier said then done). A big divide between service line leaders and who is out selling the work. (Link between account managment and oppt management is weak.) | PEople need to understand ART and they just have to enter the data. If there's a trust level there, we're going to get the work. If there's not, we're not going to get the call. Do we have a trust index with those power players? | They dont have it mandated. Jsut an excuse. It takes time a level of insight that people dont want. Theyd rather stay under the radar. They use it as a crutch and doesnt. End users should be using it. The engagement partner and has most access tot he client. Very little upside for that person to keep entry up to date. They just should do it. End user doesnt help out that much. Competency leader, does help. GCSP does help, but not end user. | |||||||||||||||||||||||
47 | What do you think would be the needs of an individual managing an opportunity? | How do we pick people to chase? What their purchasing power is? Who are the future leaders? What from the GCSP, what are they finding and can they identify high fliers. They have a list of 300 people, but just do 5 of field of play max. Who really is the buyers or the budget holder. How are you going to win? Think about it critically, and who is going to commit how many hours, and GCSP love the gracious acts. Invest 2 hours in gracious acts and need to be thoughtful and something the account team does. Give them a series of report in the trust index, how does it corrlate to revenue. Can we prove it's a million dollar budget? RFPs take relationships out of the picture and puts up a wall. No fun. | WE have technical people. Auditors that are good at it, but a lot of our tax people arent good at building relationship (except GCSP). Our team works better in person and relationships in person and physical and trust being in person. Certain personalities need to reenforce longer time. Needs to track how we can understand when how a client likes to meet. In person? Often? Knowing a lot but we have to crowdsource ... email first, then people tagging, tag as important, as important to buy things, their buying record is #1, that is a lot of information. #2 relationship info so I know who to contact, but who has buying power. #3 Are you meeting, emailing? What's the best rank? Virtual? In person? | ||||||||||||||||||||||||
48 | What do you think would be the needs of an individual managing a number of opportunities (pipeline)? | ||||||||||||||||||||||||||
49 | What do you think would be the needs of an account team managing a pipeline of opportunities? | Can this help account holders have conversations tied to field of play. Yes, at an account level—yes. Access to all the ppeople and engagements as we put the big picture together. We dont have good contact management yet and the person at the end of the chain doesnt benefit. Doesnt help the end user even if we try to. | "Recommendations" from the system would help Account Team. If I've indicated a thing helped me win, then I can use that service code "internal audit–and used Virtual Internal Audit tool." I could give others a trend... same sector, same trend, same attributes. People arent aware of the products that exists, or linked to the win. Could help to sell in other products. | ||||||||||||||||||||||||
50 | What do you think a stakeholder would need while managing opportunities across a segment broader than account (e.g. portfolio, market segment/sector, service line/business unit, etc.)? | ||||||||||||||||||||||||||
51 | Where are conversion metrics at each stage of the funnel good / bad? | ||||||||||||||||||||||||||
52 | Where are the barriers in this process? How could we streamline? | ||||||||||||||||||||||||||
53 | From a process perspective? | ||||||||||||||||||||||||||
54 | From a tools perspective? | ||||||||||||||||||||||||||
55 | Where in the process are there inefficiencies with time spent on deals that don’t come to fruition? | ||||||||||||||||||||||||||
56 | How do you determine not to go forward with an opportunity? | ||||||||||||||||||||||||||
57 | What’s the impact of deals not progressing? | These can be 10 year deals, and how do we support the pipeline? How do we engage and deliver on services, so do we have the skills and right geographies and do we have the right work upfront? But people enter it late and entering it all is a chore, so they dont use it if it's not going to do it. * Can they enter the flow from win / lose first? Then the long or short tail follows. The Quick Entry version for win and Quick Entry version for loss. | |||||||||||||||||||||||||
58 | What are you doing currently to create hygiene in your pipeline to determine whether a deal is viable? | ||||||||||||||||||||||||||
59 | What are you doing to evaluate in retrospect what caused a deal not to move forward? | ||||||||||||||||||||||||||
60 | How are new project opportunities identified for current clients? | ||||||||||||||||||||||||||
61 | How do you manage networking & new relationship / contact identification? | Draft idea lets us build business without making the data real | |||||||||||||||||||||||||
62 | How could incorporating pipeline information into LENS help with relationship building/management? | ||||||||||||||||||||||||||
63 | Is there more that EY could be doing to help identify the leading indicators of relationship development? | ||||||||||||||||||||||||||
64 | What do you think might be the cause of people not wanting to enter opportunities? | The long tail of entry | |||||||||||||||||||||||||
65 | If anything were possible, what do you think might motivate them to enter opportunities earlier? | ||||||||||||||||||||||||||
66 | In an ideal world, what should opportunity and pipeline management look like? | 1) Anything over 1-3m every week we pull every week and we have a qualification process is this a renewal, is it competitive, and get into the criteria and get labelld as a strategic puisuit and put together a proposal. Every week theres new deals and how will we close it . 2) or Anyhting with a tail, 300k but could lead to 20m, 3) anything we should be on and what leadership is going to yell at us | |||||||||||||||||||||||||
67 | How do you envision using pipeline information for forecasting? | They want to know the exact amount, what is the close date, whats the staffing need? And we just dont know that info. And if it's wrong, it causes issue with poor data. Robin Hutchinson would have more context on forecasting. (Right now we document what has happened and what is going to be forecasting.) | If people arent sharing contacts, why might they not share? At an account level and GCSP, they are account focused. And if not, they get it taken away from. It's prestigious. Journeyman partners and working capital, and from a practice and wild west and fly in fly out and not sharing contacts. At Account Level, there's little hiding and like the "One EY" concept (only in the US.) "One EY" doesnt always mean global, but means "Americas". We have to share within service lines. We do Buyer Based Fields of Play, cross service lines. Risk, tax, tech–all mixed in. 20 years, we want more service line integration but were getting more intergration, but needs work. TAZ - transaction process, and bought PArtnenon. All strategy focused in S+T strategy and transations. We did little S strategy... not at McKinsey level. Because we sell front end strategy, we painted the pic for 3-4 tax jobs and 5 tech jobs. I'm claiming I sold the job. Is this related to the S+T job? Yes, No, Maybe. What engagement codes are linked? People dont know and cant transfer, none of it is in the system. If the system tracks it, and engagement codes within the account itself. How do we track the engagement codes? How do they mark it as a follow through engagement. It could be a short line item "Pull through cash" from the existing project, what else could spin up with a long tail. Might be a $2m job, but $10m over 4 years. Has to be big enough to dedicate time. | ||||||||||||||||||||||||
68 | What decisions would leaders be making based on this information? | ||||||||||||||||||||||||||
69 | Are there any specific needs you would cover in this ideal scenario for your team? | ||||||||||||||||||||||||||
70 | Are there any other competitors or experiences you think would be a good proxy for what the opportunity and pipeline management experience could look like in the future? (can be in or out of category) | ||||||||||||||||||||||||||
71 | LENS Deep Dive | ||||||||||||||||||||||||||
72 | What is your role in relation to Mercury? | ||||||||||||||||||||||||||
73 | What about Mercury is working well? | Too many apps cobbled together, all built on 365 or Power BI or something. | Improving the pricing is painful, and were working with a vendor on new workbooks are in a UAT phase and are meeting users requests. Staffing model is tied into scheduling and forecasting on modelling resource, but right now it's a separate solution. W | ||||||||||||||||||||||||
74 | What about Mercury is NOT working well? | We have a roadmap of lots of things, and we want info flowing back and forth better. But the push of data is only one way. Scheudling has a big disconnect. Anther person saild "SAP modules is what makes up Mercury". Decisions were made not to use the whole SAP system, but Mercury. We have an existing "schedule API", but we dont have an API yet. WE just send things out and not back in. | |||||||||||||||||||||||||
75 | What opportunities do you see to improve Mercury? | ||||||||||||||||||||||||||
76 | Is there information that is valuable to you that Mercury is not currently providing? | We dont do reporting in MErcury, but farmed out to a data warehouse and we build reports. (probably IT or PowerBI) that markets might. LENS probably builds as what they are using today (from data warehouses.) Using geography and percentange or liklihood complete are pulled from Mercury too. Static data is old, a day old, and how do you show real time data and edits, two hours later, and it's delayed. Pricing updates can be complex if people are updating real time (Mercury)(?) | |||||||||||||||||||||||||
77 | How does Mercury compare to Salesforce or SAP? | making the LENS product front end makes sense to him on the front end. | |||||||||||||||||||||||||
78 | What is your role in relation to LENS? | Lots of stakeholder and user research 2 parts - about the tool, and a culture The perfect tool, but unless the culture is right—people extremely different, and disciplined. Not historically the culture we have, and with a professional service team… not pinged for update daily on numbers. Long sales times, long windows, technical specialists in their culture and not sales people. Not typical sales people. 200 different answers, what they want to see from a EY CRM solution. Right tone from the top, people from the top can’t say that we all need to use it overnight. How we can undergo a change, but how they need to do things and benefit over long term? | I dont use it that much, but use it for ASQ - service quality formal conversations with client. | ||||||||||||||||||||||||
79 | How do you use it? | Opportunity managment needs tracking and engagement and conversion rates. Idenify, qualify, pursue and close... what can be more effective. Fewer thank 5 clicks, early stages, very little info needed. Outlook integration, right click to scrape the info (like done in PowerBI), have the detail, and CRM record tags the account. And then you can collab and see who has contacts. Create, client name, contact, target (to manage conflicts), who called you, not more than that's critical. Timeline helps too, aniticapted start date. Qualify - we have many, anyone in ### transaction work, an asymettric relationship, we need to commit to them before they cmmit to us. We get through the bid, and we start monday. We move in a few days, in IoI (indication of interest) and then we do deal. Merger and Acquistions and bids and we're ready to start. We have a probability field but there's us wining vs other competition, and probability of client moving on. We need both. Almost everyone at EY 2021, we are almost booked up, and capacity constrained now. 4-6 days to build a team instead of 4-6 weeks. We do triggers with power automate, and how a PSA system would help. We need APIs and hooks now, before a PSA team with professional servcies automation. Staffing, engagement all that needs to be integrated. We can get some things automated, and we need to get staffing requests. Rules might be team related, and everyone want different rules. We have to tell 11 clients we have a team monday, and one will drop out and overbook the planes. We are in very complex in capacity planning. | |||||||||||||||||||||||||
80 | How does your team use it? | Looking at data on an account: looking at AI and analytics, quite a long way. There is a lot of information by field of play, 3 priority fields of play, and let me match that against my pipeline or contacts… and see how it can surface new ideas. There’s sufficient data right now, but is it presented in the best possible way? | Very account centric, but needs a practice view... a group of partners working together like a competency, and a flexible way to influence or define the practice. And how do we show the practice's pipeline with each other each week. How do we define practice just as a list of partners? Do we need multiple practices? Just a pipeline practice level would be helpful against the account centric. | The account team leveraging the relationship will help us co-create the opportunity (seeing who is connected to that company 1- within the cclient company 2- within the client vertical 3- within other competitor verticals or experts in the vertical 3- within the fields of play that we swap in and out ** (key for Andrew) 3- within EY strategic alliances (SAP, Microsoft invest time together) 4- within EY We tagged someone at MB that one was critical contact ,and drove $8m. And we can follow his successor. Great tagging for a complete picture. | |||||||||||||||||||||||
81 | What, if any, goals are you trying to achieve specific to your team with LENS? | Looking at data on an account: looking at AI and analytics, quite a long way. There is a lot of information by field of play, 3 priority fields of play, and let me match that against my pipeline or contacts… and see how it can surface new ideas. There’s sufficient data right now, but is it presented in the best possible way? | To get back to where he was 4 years ago, and maybe in 2 years we can get back to where we were. Give me an API so I can work around. Resource planning. | If we want encourage people to manage their engagement here... Sherry: LENS provides nudges or past due, how long things stay within a stage. We dont need managers for pipline managers and let them go. Much more rigor about pipeline manangers, and no rigor anymore. We need more of the rigor built back in. Kris: People have to be led and time to close, and that isn't a stick Two GCSPs where saying "f- no" and not going to use it and it's a tool for what you want to do. Not a monitoring tool. Flipped his mindset to implement it. How do we explain that to the GCSP because we can convert them? | |||||||||||||||||||||||
82 | What problems in your team do you see LENS solving? | Multiple view options… filtering, how are they thinking about their accounts. Angular JS? Field of Play as a filter? | Is the data right, and how much chasing we do of data. How many times we enter things is riduciulous and not used. | ||||||||||||||||||||||||
83 | What critical aspects of opportunity management and creating opportunities that, if brought into LENS, would be an accelerant to LENS adoption AND improve pipeline hygiene? | Resource planning, and make enter of new clients easier. (not 5 clicks.) | LENS should help in 1) opportunity capture and where the pursuits and connections to our clients are 2) Is there a way to update fields easily (change from ideinify to qualify easily, or add a role or change the percenteage) 3) adding peiople to roles should be easy wins Challenge - getting deeper into data into Mercury. Dont rebuild the tool, but how do we best connect the individual and eliminate the going in and out of the tool. "What mercury lacks is there's no step 1 and step 2 and is there on screen guidance" LENS looks really great, but tehre's an aspect of our firms strategy is where we're investing dollars we are overlapping. ? Power BI seems to be stealing Mercury's need and makes it difficult for the end user ? Too many options? One ecosystem so to speak. "there's a roadmap for Mercury, but not published from the Mercury Solutions Board–5 year roadmap, scheduling is on the roadmap, pricing workbook on roadmap. We can't do it all and we are stretched, and how do we have things fit together." | We're not using it for every detail. What is critical defined as?The more discipline we could bring to bear: priortizeing relationships, tagging key individuals and fields of play all tagged. (Do those things and repeat those things to be disciplined.) | |||||||||||||||||||||||
84 | How could we drive LENS activations overall? | If I am a CSP in retail… is interested in the retail sector, am I getting news of rumors on Mergers+Acquisitions, at EY as well. Mentions in the news. Kroger in the US is doing this, and we can do this with Tesco. Sector information, social media mentions, Tech, how can we get Field of Play info where our tech solutions for retail. Wider information. The glue, the info outside, trade pubs, stock market. News feeds, we can access now through LENS, wow, appeals to my attractive to look at. Stock alert for competitor client, massively. Who is in Attendance, events, most GSCPs don’t want things sent out. What is the right followup. Downloading of material? Where Choose how or what you want in the system/dash… events, news, attendance, features or actions you could select and examples and why. You want to adjust as the relationship changes. And target changes. Are my actions per hour worth of my investment, or not? Sharing client relationship… small states—is one service, and then you need people who are providing the service, then more people share information and all of our service lines become involved. More service lines come into play, and relationships dynamically build and flow through system of engagement. (Every two weeks client, AND quarterly partner sector leader reporting. Don’t do deck of slides and lets look at it live in LENS.) Just a tip of the iceberg. Performance YTD, predicted performance, revenue, pipeline size, where in the pipeline, field of play is becoming more important, targeted fields of play, sector with prioritized fields of play, analyzing performance. Quarterly. | Lots of things we need to capture. Indentify/ Create Our list: Name of the target is critical, case type, sector, referrals/source, are we bundling services with this, SAP partnering. WE dont capture much. Pursue: we do our best, sole source, their / the dclient's likelihood is almost always "we think is 100%" Client always says that. We're bidding Thurs and feeling good, or we have an investment meeting Sat, and it's a slam dunk... we have to handicap our clients. Our clients always say were starting Monday and something doesnt happen and clients drop off. No rationale or answer in Mercury about the client's deal died, but they didnt pursue (being in private equity), and it's not a competitve loss. We didnt convert a lead to a project... has "conversation rate" and a "win rate" and the win rate is always high (70%) but conversion rate is low. and not a loss 30%. Also we decline too, and decline isn't the right use. And that;s not helpful. Closing: what is good reporting for win and lose, then a ton of processes when win. and mostly manual. Lots of EY process and enagement processes... really hard and GL solving it now. REmind people of sales opportunities | ||||||||||||||||||||||||
85 | What hurdles, if any, could you see in the adoption of LENS with users? | MS Teams was a good and fast model, and made things easier. We need whatever tech to make our lives easier, and then make our sales easier. How do you record, attach, live things in a pursuing. Not a repository, but facilitator for sharing and for the relationship. Not just dollars, dates, times. An app on a mobile phone for coming out of meetings, what stage, what appropriate close date to get it STARTED. What can facilitate between teams DURING an engagement. Usually email, tele, WhatsApp, when that dashboard can facilitate and get updates across a team, and how we try to move the oppty foward. Not just a reporting tool, but the glue to help opportunities move forward. Should be “my first port of call” is into LENS to be an active pursuit tool. Integrated within all the pipeline and contact, and what my first step. Active Pursuit Tool for an opportunity. Personas- sales-minded, used to using tools daily. Not as much rigor. 100% better than 3-5 years ago. We have a better sales culture. Likely don’t like it or not, that sales and revenue reporting isn’t helpful. | Sherry: "lot of voice of the customer" relating to CRM, and change managment gets a lot of lip service and culture change and behaviors need to drive and that's part of the problem. "Focus on what do you really want to know (to our sales folks.)" I'm not going to be so bold that you are looking to explain of what you are looking for? John: level 1: those who have purvue over pipeline managment (high-level, GCSP), level 2: who is working the details (non GSCP) Sherry: definitely two different viewpoints. Sherry: quick hit on health on management, where it needs attention. more that thing of GCSP uses all day, but drawn into by an alert. John: "value exchange conversation" Dan: give free carrots (not a value exchange yet or tbd) to both Sales and GCSP Dan: pull up most recent events, last contacts, other relationship to the end client, other relationships to similar clients, similar client news and outside EY info, market trends | "Ghost story" about scraping and client partners, and easy for people to reject | |||||||||||||||||||||||
86 | Closing | ||||||||||||||||||||||||||
87 | If we could wave a magic wand and change any one thing about opportunity and pipeline management, what would make it FAR more valuable to you or would have the greatest impact? | Enable something that is intuitive and we're not going to redo Mercury. Our requirements become "redo the old system". Recommendation tools can help, and we have to show how it can help them. | Today no one wants to use Mercury. Too confusing. We havent stepped away from emailing IT. Our end users arent using hte system and are still sending forms offshore to recover the reports. Do we need a centralized backend team or is it self serve (for LENS). * Persona of user...in India... backend team who pulls in reporting | ||||||||||||||||||||||||
88 | Where do you see your industry going in the next 5 to 10 years? | ||||||||||||||||||||||||||
89 | How do you see opportunity and pipeline management needs changing, if at all? | Grooming, confidence in pipeline? We are in a hot and ordertaking mode, but no one is doing that now. It's all a firehose right now, we're cashiers and order takers. We dont need a CRM system right now. We dont have to groom pipeline right now of firefighting and we dont have capacity to deliver right now. It's all about staffing right now, most of the business. We invest nothing in sales compared to another longer term like multiyear engagements with auditing groups, but not private equity. Just make it fast and a few clicks, and an inline grid editor, an excel like batch processing. Creation date, close date, select all and change all the status in 3 clicks in an excel. "At scale pipeline hygiene". Salesforce has grid editing. Gina: chatbot (?) people are in microsoft teams a lot. LENS team has an interfrace Reporting: we build ours in power BI, because LENS will take years. We do our custom reporting, and there are reporting teams. LENS needs some simple reporting, or can get to a data warehouse for power BI to access it. Reporting: Arrival rates, win rates, sliced by client, engagement, by partner, by geographies, by involvement from team, type of case, gina wins more than jeff, how do we learn what gina does vs jeff. Are we busy at the ends of the year, how many inbounds this week / ie opportunity arrivals. | |||||||||||||||||||||||||
90 | When you think about EY’s overall goals for opportunity and pipeline management, and the work that we (R&P) are doing with EY to help improve that, what comes to mind that you want us to consider? | ||||||||||||||||||||||||||
91 | Any big opportunities, as you see them? (ideas, information sources, demo accounts, other people to talk to, etc.) | ||||||||||||||||||||||||||
92 | What would make our work a success, in your eyes? | ||||||||||||||||||||||||||
93 | Any hurdles that might get in our way to that successful outcome? | ||||||||||||||||||||||||||
94 | Is there anything else you were hoping to be able to provide feedback on that we haven’t discussed? | ||||||||||||||||||||||||||
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