Dec-16

Welcome to the new look, Corporate Vision Magazine.

The December edition brings you the latest features, up-to-date news and expert comment from the corporate world.

New research from Upwork has revealed more than one-third of UK businesses believe they could make additional revenue during the holidays if their business ran at full capacity. Business owners are struggling to meet demand during the traditional holiday period when most staff take time away from the office.

In other news, the UK government and the Office for National Statistics have joined forces to
create an online tool to show the enormity of the gender pay gap. The construction industry, along with financial managers and directors’ positions have been hit hardest as they face the highest gender pay gaps of any sector in the business world. Minister for Women and Equalities Justine Greening explains what is being done to drastically alter this inequality.

We also feature an array of companies supplying vital support services to various industries. One example is Sintetica from the pharmaceutical industry, who provide injectable anaesthetics and analgesics to patients worldwide.

I hope you enjoy our brand new look and the exciting features we have to offer.

Matt Lewis, Editor
Email: [email protected]

The 2016 Consultancy Awards Press Release

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Corporate Vision Unveils the 2016 Consultancy Awards Winners

United Kingdom, December 2016- Corporate Vision Magazine has announced the winners of the 2016 Consultancy Awards.

Throughout all sectors and industries, consultants play a major role in businesses ongoing success. Aiming to advise, assist and provide essential information that informs and shapes vital strategy, consultants are becoming an increasingly fundamental part of the ever-evolving business landscape.

The 2016 Consultancy Awards highlight and give recognition to those consultants who really deserve it. Covering industries worldwide, ranging from medical to image and management to transport, these awards are putting consultants in the spotlight and focusing on their individual attributes and skills.

Daisy Johnson, Awards Co-ordinator, commented: “This awards programme turns the spotlight on the very best that the consultancy market has to offer, highlighting the businesses and the dedicated staff behind them who have worked tirelessly to support their clients. It is a true honour to be able to reward the hard work and dedication of all of our deserving winners, and I would like to wish them the best of luck in the future.” 

To learn more about these illustrious winners, and to find out the secrets behind their success, please visit http://www.corp-vis.com/.

ENDS

NOTES TO EDITORS

About Corporate Vision Magazine

Created by a highly experienced and passionate team of business experts, advisors and insiders, Corporate Vision provides discerning readers worldwide with a wealth of news, features and comment on the corporate issues of the day.

The 2016 Business Law Awards Press Release

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Corporate Vision Unveils the 2016 Business Law Awards Winners

United Kingdom, 2016– Corporate Vision Magazine has announced the winners of the 2016 Business Law Awards.

Due to increased competition within the legal market businesses are looking to change their approach in order to stay ahead of the pack increasing the importance of strategic decision making and a sound business acumen, maintaining their position at the top of the corporate world.

Creativity, innovation and passion are fundamental attributes that ensure the growth and prosperity of a business. With this in mind our Business Law Awards 2016 recognises the top firms and professionals at the forefront of their legal business operations across the industry providing a unique resource to the major players in this huge market.

Lauren Downs, Awards Co-ordinator, commented: “Business law is a diverse and vital market, and therefore it has been a pleasure to be able to reward members of this industry whose dedication and commitment to excellence has helped clients to maintain and enhance their success. I would like to congratulate every one of my award winners and wish them the very best of luck moving forward.”  

To learn more about these illustrious winners, and to find out the secrets behind their success, please visit http://www.corp-vis.com/.

ENDS

NOTES TO EDITORS

About Corporate Vision Magazine

Created by a highly experienced and passionate team of business experts, advisors and insiders, Corporate Vision provides discerning readers worldwide with a wealth of news, features and comment on the corporate issues of the day.


The 2016 African Corporate Excellence Awards Press Release

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Corporate Vision Unveils the 2016 African Corporate Excellence Awards Winners

United Kingdom, December 2016- Corporate Vision Magazine has announced the winners of the 2016 African Corporate Excellence Awards.

The past few years have seen Africa begin to thrive as one of the most resourceful and industry rich continents on earth. The continent has previously lived under the shadow of its competitors, however is now emerging as one of the main contenders in the global market.

Following the success from last year, the 2016 African Corporate Excellence Awards, are designed to showcase and recognise the key players and competitors within this prospering region. We have highlighted and rewarded the efforts of the firms and individuals who have exhibited tremendous work within this vibrant and ever-evolving continent.

George Arnold, Awards Co-ordinator, commented on the programme and his pride in the winners: “Firms from across the African business market have been recognised in this dedicated awards programme, and I am very honoured to have been given the opportunity to showcase the skills, dedication and sheer hard work of every one of my winners, and I would like to wish them every success going forward.”

To learn more about these illustrious winners, and to find out the secrets behind their success, please visit www.corp-vis.com.

ENDS

NOTES TO EDITORS

About Corporate Vision Magazine

Created by a highly experienced and passionate team of business experts, advisors and insiders, Corporate Vision provides discerning readers worldwide with a wealth of news, features and comment on the corporate issues of the day.

The 2016 Small Business Awards Press Release

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Corporate Vision Unveils the 2016 Small Business Awards Winners

United Kingdom, December 2016- Corporate Vision Magazine has announced the winners of the 2016 Small Business Awards.

Small businesses form the backbone of our corporate landscape. Despite often being overlooked in favour of bigger names, these firms provide much needed support and services to the communities they operate in, and as such deserve recognising and rewarding for the hard work and dedication they put in.

In order to ensure that the very best small businesses, and the individuals behind them, receive the recognition they deserve, we have designed the 2016 Small Business Awards.

Rachel Devonport, Awards Co-ordinator, commented: “Small businesses are often overlooked despite the hard work they put in to ensuring their continued success. It has been a pleasure showcasing every one of my winners and I wish them the best of luck in the future.”

To learn more about these illustrious winners, and to find out the secrets behind their success, please visit www.corp-vis.com.

ENDS

NOTES TO EDITORS

About Corporate Vision Magazine

Created by a highly experienced and passionate team of business experts, advisors and insiders, Corporate Vision provides discerning readers worldwide with a wealth of news, features and comment on the corporate issues of the day.

Royal Mail Data Services Reveals the Cost of Poor-Quality Customer Data

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Royal Mail Data Services helps organisations meet the challenges of collecting, managing and using accurate customer contact and address data to improve business performance.


The third annual research survey from Royal Mail Data Services, the specialist data business of Royal Mail Group, reveals that poor-quality customer contact data could be costing UK organisations as much as six per cent of annual revenues¹.

This is despite recognition, among around 300 marketing, data and analytics professionals which took part in the study, of the importance of quality data. For the second consecutive year, they cite good-quality customer contact data as having the greatest positive impact on campaign response and conversion rates.

Furthermore, comparative analysis shows that specific data issues have continued to rise since 2014. Notably, duplicate data (which has increased 22 per cent in the last two years), incomplete data (up 13 per cent) and out-of-date data (up 12 per cent).

This year’s survey also revealed that 37 per cent of businesses lack any formal processes for cleansing their data. Nearly one in five (19 per cent) do not validate customer contact data at the point of data capture.

More than a third (38 per cent) of marketing, data and analytics professionals say their efforts to overcome these challenges and improve the quality of customer contact data are thwarted by legacy IT systems. This can also limit or even prevent the level of personalisation which marketing is able to deploy.

This year’s research report, The Six Per Cent Solution = How Better Customer Data Drives Marketing Performance and Business Growth, reveals that the average rate of churn has remained at 20 per cent per annum. It is not surprising that, as a result, customer acquisition remains top of the marketing agenda; 52 per cent of organisations say this is their biggest challenge.

Jim Conning, Managing Director, Royal Mail Data Services, comments: “Our study has revealed that poor-quality customer contact data directly impacts the bottom line. Especially as one in five customers need to be replaced each year. Marketers need to work harder to build value in the minds of their customers and stop them from moving on to a new brand or provider. Good-quality customer contact data is critical to tackling both these challenges.

“The lack of consensus within organisations about how to approach the data problem is holding them back. Breaking down silos and ensuring that marketing, data and IT work together to tackle the data-quality challenge should be top of the agenda for any business.”

The 2016 Eastern European Business Elite Press Release

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Corporate Vision Unveils the 2016 Eastern European Business Elite Awards Winners

United Kingdom, 2016– Corporate Vision Magazine has announced the winners of the 2016 Eastern European Business Elite Awards.

Eastern Europe is home to some of the most powerful and influential businesses and organisations on Earth. Comprised of some of the leading and most dominant countries, opportunities for success and wealth are endless.

As such, our 2016 Eastern Europe Business Elite Awards highlight and reward those key firms and individuals who have built dynamic businesses based on key services and solutions and innovative products.

Kaven Cooper, Awards Co-ordinator, commented on the programme and his pride in the winners: “Recognising the businesses and the individuals that drive them with unfaltering client and customer service, and those firms who will endeavour to offer the very best in their respective industries, this programme has some really fantastic winners and it is my honour to be able to showcase their talent and dedication. I would like to wish them the very best of luck in the future.”

To learn more about these illustrious winners, and to find out the secrets behind their success, please visit www.corp-vis.com.

ENDS

NOTES TO EDITORS

About Corporate Vision Magazine

Created by a highly experienced and passionate team of business experts, advisors and insiders, Corporate Vision provides discerning readers worldwide with a wealth of news, features and comment on the corporate issues of the day.

New Values in New Ways

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Founded in 1996, Imaginatik has two decades’ experience applying advisory, software, and analytics to the pursuit of innovation excellence. The company has a crisp focus: to help clients identify and capture new sources of value in new ways.

The types of clients that Imaginatik work with have realised that the world has changed and that ‘more of the same’ thinking, engaging, and executing no longer works. Responding to these changes, Ralph gives us an insight into what the company is doing to address these issues.

“As most businesses well know, the world is changing, and as we all know, changes always create new winners and losers.  We can see this in the topple rate within many industries, whereby market leaders of yesterday have fallen or toppled off of their leading position and companies previously unknown have become the new leaders of tomorrow. We can see it in the rise of new business models and the greater market multiples they carry compared to many other companies. And third, we see it in the 3x revenue growth, on average, that companies that have a robust innovation program have compared with those who don’t. 

“These changes are the result of shifting technologies, changes in customer expectations and the blurrings across industry boundaries as well as between physical and augmented/virtual realities. The implications of these changes and shifts are profound. First, it creates the opportunities for new ways to engage customers, stakeholders and markets. Second, it involves a fundamental re-thinking of where to play and how to do so – with respect to where new sources of value will come from and how to capture it.  And third, it requires what we call the ‘new 20%’ of critical capabilities needed to capture 70% of the new value. This is a different world, requiring new ways to ‘make sense’ to ‘take action’ regarding the opportunities that these differences create.”

According to Ralph, organisations have three strategic options to take regarding a changing world.  “One, they can ignore it (for now); two, they can do more of what they do, better, faster and cheaper and try to outrun the changes, playing what he calls “the out-execution game.” Or three, change the game by taking advantage of the new opportunities that changes always create.”

Innovation, for Ralph and Imaginatik, needs to focus on the third option. To do so, innovation has a crisp definition, and becomes the rallying cry for Imaginatik: to help organisations identify and capture new sources of value.

Organisations tend to be at different places have different maturities regarding innovation.  Consequently, as Ralph puts it, Imaginatik helps organisations ask, and answer, one of three questions: what’s next and what do we do about it (with respect to where to play and how to do so); how do we get more out of the innovation programs and activities we’re currently driving; and how do we get started along the innovation journey?

Ralph highlights the three types of services Imaginatik has to help organisations answer these questions.

“First, we have workshops which are half to two day sessions providing clarity and driving executive alignment around these questions and/or specific topics regarding strategic and innovation objectives. Second, we work with clients on an advisory basis, helping them ask, and answer, these questions from insight to market impact. And third, we provide innovation software and analytics innovation management platforms that support the full innovation journey, from market insight to crowd-sourced ideation, from idea prioritization to market testing. One of the elements that’s unique about us is our combination of what we call ‘Computational Intelligence’ (via data analytics and machine learning) with ‘Human Insight’ (based on frameworks, experience and just-plain perspective) – service to driving innovation programs. Lots of people can sell software, or provide advisory services; it’s the combination in service of creating business outcomes, from insight to impact that compels us and provides value for our clients.” 

Imaginatik was designed a number of years ago as a crowd-sourced ideation platform, based on the principle of engaging employees and customers at the edge of the organisation in a way that harness their insights and thereby promote a culture of ongoing innovative engagement. This remains core to what the company does today. However, over the past two years, clients have expanded their focus as Ralph explains.

“Ideas are nice, but execution is key. Figuring out how to ‘cross-the-chasm’ from an innovation to market impact is what matters to get the type of business value that we all need.  Engagement becomes sticky and persistent when results are realized and people see, feel and experience change coming from collaborative insight. Prioritized and aligned ideas are harder which is why we have now built up a robust set of analytics to ‘make visible what is too often invisible’ in terms of who engages around what, from where, why, and how, as well as what ‘white space’ might we explore from a set of what we call “collision analytics” from different industries, perspectives, disciplines, and geographies. Our strategic shift has been pulled by client demand and need for insight into the changes in technology, customer expectations and emerging business models and the opportunities that such changes always create.

“Our strategy remains to focus on the three questions we hear from clients. How do we get started? How do we get more out of what we are doing? And what’s next and what do we do about it in terms of where to play and how to do so? And, of course, we keep refining and developing new workshops, advisory services, analytic insights and technology products to support them.”

He continues. “The world has changed; what worked before no longer will require new insights into where value is being created and destroyed within the ecosystems in which you and your customers are engaged.” This focus on what has changed. The ecosystems in which organisations are engaged has dramatic implications, Ralph highlights, on customers to engage, ecosystems to shape, capabilities to orchestrate and value to realize, in new ways. 

The blurring of industry boundaries, the emergence of new business models and the high market multiples they reflect and the blunt reality of “cognitive eating the world” – at the interface of machine learning, social, mobile and big data – underpin the new competitive realities we face.  They are the catalysts affecting the change in customer expectations, the acceleration of the topple rate of the once former industry leaders and drive the very different market multiple of the new business models.

“It takes time for clients and companies to figure out how to take advantage of technology shifts. There has always been a time lag between technical advances and managerial/business model innovation. There’s nothing different about the existence of such a lag. There is, however, a significant difference in the risk of the lag, given the implication of ‘cognitive eating the world’ via machine/deep learning and the catalysts of the ‘algorithm’ economy. Namely, the risk that our exponentially accelerating pace of technical change will spread out the lag, making it more and more difficult for companies to figure out what to do, and how to deal with these changes, and the lag that already exists. We’re seeing this now with pressures on nearly every industry, with value being created and destroyed everywhere, and with new entrants coming into existing firms playing fields shifting the game, with new value propositions and capabilities. The implication? Greater pressure for all, yet significant opportunity for a few. Requiring what? New ways to make sense of both the challenges and the opportunities. How? By learning how to see the emerging patterns of opportunities and the ripple effects that decisions made and actions taken will have on those opportunities.

“Tomorrow’s leaders will be skilled in seeing such patterns, and adept in thinking systemically around where to play, and how to orchestrate capabilities from different actors to capture new sources of value. That’s where we’re headed. Those are but some of the lessons we’re seeing, and helping catalyse, with the organisational leaders of tomorrow.

 “The reason Imaginatik has expanded our advisory offerings is to help people recognize this imperative and learn how to take advantage of it. That is one of the best ways, I believe, we can help our clients to capture new sources of value in new ways.”

Ralph has significant global business advisory and technology implementation experience, focusing on identifying where value is being created and destroyed and how to capture new sources of value. He has held a variety of leadership positions including Strategy and Transformation Leader at IBM (Middle East and Africa) and Senior Partner of Global Solutions and Innovation at KPMG Consulting.  Ralph believes there are key principles which he adheres to run an effective business. An important aspect is listening to clients and fellow colleagues.

“I try to listen carefully – to our clients, to the market and to the incredibly rich talent of people who work at Imaginatik. Our staff are extraordinary in their insight, capabilities and passion to help clients. The team, and our clients, are the engines of change, I’m merely the catalyst.  Curiosity and the passionate intent to learn from different people with different perspectives from different disciplines is what I try to do and encourage our teams to do as well.”

Company: Imaginatik

Name: Ralph Welborn

Web Address: www.imaginatik.com

Address: 745 Atlantic Ave, 8th Floor, Boston, 02111, USA

Telephone: US office: 1 866 327 4330 UK office: 44 1329 243 243

Local Businesses Set to Challenge Amazon, Adding £4bn to High St Sales

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Retail tech start-up NearSt, which makes finding items in local shops easier than buying on Amazon, has today expanded its offering to consumer electronics, DIY goods, health & beauty products, sportswear, stationery, toys and gift shop services.

The astronomical growth in ‘near me’ searches (over 146% year-on-year) means NearSt are now best placed to revitalise local shops on UK high streets, who can add over £4bn in sales by connecting the items they sell to the smartphones of people searching for them nearby.

NearSt is already collecting five million inventory updates from its retailers every day for nearby shoppers to browse. Shops show live inventory through the NearSt website and app where people can order and pay for one-hour delivery via bike courier or instant collection in-store.

Brick-and-mortar shops up and down UK high streets have suffered in recent years from the rise of online marketplaces, something NearSt aims to change by bringing business back to their door step. With the growth of on-demand shopping, “research online-purchase offline” behaviour, and local ‘near me’ searches, NearSt believes now is the perfect time for shops to take the fight back to the likes of Amazon.

NearSt’s technology, called NearLive, enables any shop to set-up and start selling real-time inventory to shoppers through www.near.st, app, and directly in Google Search in less than 10 minutes. Shoppers simply search for something they want, see where it’s in stock nearby, and in a few taps order it for one-hour delivery or instant collection.

Nick Brackenbury, chief executive at NearSt commented: “The way we shop is changing. Customers expect everything to be ‘on-demand’. Where they want it, when they want it and available in just a couple taps of their smartphone. High street shops are perfectly suited to capitalise on this new way of shopping, if they can put their inventory in front of this new mobile shopper. If they fail to do this, they risk slipping into irrelevance and ultimately out of business.”

“Their challenge is serving this new shopper with their existing tools, which today is incredibly difficult and expensive. Our ground-breaking technology is enabling shops to access these new mobile shoppers, exclusively using all of the existing systems and processes already in-store. Shops can get up and running in as little as 10 minutes on NearSt, without any need for new technology or hardware. If shops can get their inventory onto the smartphones of shoppers nearby, we see every reason to be optimistic about the central role of high streets in the future of how we all shop” added Nick Brackenbury.