Meeting Automation vendor Chili Piper closed on its $33 million “Series Spicy” led by Tiger Global with participation from existing investors Base10 Partners and Gradient Ventures, Google’s AI-focused venture capital fund. The Series B raised total funding to $54.4 million, most of which was raised over the last nine months.
The additional funds will be used to accelerate product development and global expansion. The round will also help them build out its sales, marketing, and customer success teams.
“We’re excited to partner with Tiger Global, one of the most successful and prolific software investors in the world,” said Chili Piper CEO Nicolas Vandenberghe. “With hundreds of customers and tens of thousands of reps using Chili Piper adding spice to their calendaring efforts daily, we thought, why not raise $33 million to ensure we up our Scoville game?”
Like many SalesTech companies, Chili Piper enjoyed pandemic tailwinds as businesses went remote and looked to streamline their calendaring.
“We’re proud to have so many customers scheduling meetings and optimizing their calendars with Chili Piper’s Instant Booker. We know some people can’t handle how hot our platform is, but believe me, once you use software as pungent as this, you’ll never go back,” said CPO Alina Vandenberghe.
Chili Piper positions itself as a Meeting Lifecycle Automation company. Beyond booking meetings, it handles inbound meeting requests, sets up follow-up conversations, and maximizes the value of meetings. Meeting workflow features include setting and sharing agendas, booking next steps, logging notes and follow-up actions, and syncing with the CRM.
“Before we launched our inbound solution, Concierge, every company had accepted the industry standard 40% conversion rate on inbound demo requests — meaning that 60 out of every 100 inbound meeting requests (aka inbound leads) never converted into a held meeting. The biggest culprit was speed to lead. The moment a prospect submits a meeting request form on your website, you should be connecting to get a meeting on their calendar.”
Chili Piper, founded in 2016, has 101 employees across 22 countries. The company is structured as a fully remote organization.
Customers include Gong, Spotify, Intuit, Twilio, and Airbnb. Expect more spicy pepper puns in the coming months.
Chili Piper isn’t the only Meeting Management vendor to be gaining attention from the VCs. In January, Calendly closed on a $350 million Series B with OpenView Venture Partners and Iqoniq Capital. The funding round valued the Atlanta-based scheduling firm at greater than $3 billion. Last year, it doubled its subscription revenue to $70 million and grew its user base to ten million.
Calendly has been profitable since 2016. Nigerian immigrant Tope Awotona founded Calendly after a series of failed businesses.
The funds will be used to provide liquidity for early shareholders and employees. It will also fund ongoing product innovation, including expanded appointment setting enhancements and integrations. The firm plans to double its headcount (at 200 in January) and continue to build out its R&D operations in Kyiv.
As a freemium service, users can test out Calendly and license the service for either $8 or $12 per month. The service is generalized, supporting business people, teachers, contractors, and freelancers. It offers integrations with calendars (e.g. Outlook, Exchange, Google Calendar), video conferencing (e.g. Zoom, Teams, GoToMeeting, JoinMe), and payment services (PayPal, Stripe). Calendly offers apps for Android, iOS, Outlook, Chrome, and Firefox.
“We really see ourselves as a leading orchestration platform,” explained Awotona. “What that means is that we really want to remain extensible and flexible. We want our users to bring their own best-in-class products. We think about this in an agnostic way.”
“Calendly has a vision increasingly to be a central part of the meeting life cycle,” said Blake Bartlett, a partner at Openview. “What happens before, during, and after the meeting. Historically, the obvious was before the meeting, but now it’s looking at integrations, automations, and other things so that it all magically happens. But moving into the rest of the lifecycle is a lot of opportunity but also many players.”
Happy Mother’s Day. I wrote this blog about six years ago, but it is no longer available online, so I thought I’d republish it here with a few minor updates.
My mother was a highly successful sales rep in two different capital goods industries for several decades. She regularly noted how important her reputation was in building her pipeline across her territory. From her perspective, acting unethically was severe short-term thinking. You were better off telling a customer that they should go to a competitor for a specific product if you can’t meet their needs than to shoehorn in a solution that only damages your reputation and that of your firm. While fibbing (using my mom’s polite term when she caught us in a lie) might close a few more deals early on, once you have been found to be slippery with the truth you are unlikely to close more sales at that account.
My mother worked her territory for over a decade and didn’t win any significant business at some prospects for the first few years. At the outset, her company had little market presence in the region. But she hung in there and sold a few beachhead deals that solved niche problems. It was with this long-term approach that she slowly built trust with her new customers. They then brought her in when new RFPs were being written – she had earned their trust.
Because she sold capital goods to only three segments (Hospitals, Nursing Homes, and Universities), she approached the market with an Account Based Marketing (ABM) perspective. Each account represented a series of opportunities over the next five to ten years. She treated each account with respect and built her relationships well ahead of RFPs. She intuitively understood Lifetime Value (LTV).
It is only with a reputation for integrity that you can expect to be called when an exec moves to another company.
It is only with integrity that you will be asked to advise on an RFP.
And it is only with integrity that customers will be willing to take referral calls for you or recommend you to their colleagues.
Being shady eventually backfires. Who is going to call you back when you have failed to deliver on your promises? It can be a scorched earth approach that is contrary to today’s ABM focus. With ABM, there are a limited number of top accounts within your territory which are to be nurtured and grown. Playing fast and loose with the truth, delivering shoddy products and services, or failing to live up to your promises will undermine your reputation at key accounts and erode your brand value.
It can even backfire quickly. One time, my mother responded to a state RFP with aggressive pricing she knew her competitor was unlikely to match. She attended the bid award meeting and was shocked to find she was underbid. As state bidding is open, she reviewed the competitor’s bid and found they had substituted refurbished equipment for new even though the RFP barred used equipment. She contested the bid on the grounds that the firm had failed to comply with RFP requirements and was later awarded the multi-year contract. Not only did her competitor lose the contract in question, but it undermined its reputation at the state purchasing department.
Ethical Competitive Strategy
When training sales reps, I also emphasize staying “above the fray”. Besmirching a competitor’s product also sullies your reputation. It shows a lack of class and a sense of desperation. It is much better to position the value of your offering and focus on areas of differentiation than it is to throw mud. You should lay landmines for competitors, not besmirch their reputation.
A landmine is simply an emphasis upon those features and benefits where your product or service offering excels. The goal is to frame the discussion around the dimensions in which your product provides superior value to the end user. Keep in mind that value is dependent upon the customer in question, so you need to factor in job function, industry, company size, etc. Also, be careful to select areas in which your firm excels overall, not dimensions in which you are superior to competitor X that is vying for the deal but inferior to competitor Y. Otherwise, you may later find out you lost the deal to Y.
Likewise, you should expect your competitors to be laying landmines for your sales reps. They need to understand where these mines are laid and how to diffuse them.
One tool I recommend is the quick parry. This is a quick response to the question, “how are you better / different than company X?” A quick parry is only three or four sentences and usually begins by saying something positive about the competitor before transitioning with a BUT or HOWEVER. The positive item can be a recognition of some dimension in which they are the acknowledged leader or a dimension that is of limited importance to the customer in question. Thus, if you are selling to an SMB, you might emphasize the breadth of their solution for enterprise customers vs. the ease of use, quick implementation, and pricing models you offer for smaller firms. Such a tool differentiates your service from the competitor without throwing mud.
While modern sales tools don’t make sales reps more or less ethical, digital tools allows them to focus on relationship building instead of cold calling and administrative tasks. When I’ve shown my mother the current generation of sales tools, she becomes jealous of today’s sales reps. Think about
How much closer she would have been to her customers had she been able to review profiles for each company; seen detailed lists of contacts with titles, emails, and phone numbers; and received daily email alerts with account and prospect sales triggers.
How much less time she would have spent filling out monthly pipeline reports (three-part carbon forms) had account intelligence been integrated into a CRM.
How easily she could have reached out to clients via email or social media by quickly leveraging a trigger.
How much faster she would have learned that a key contact moved to another company and planned her strategy accordingly.
How she would have benefited by viewing her accounts and prospects displayed on a map to assist with road trip planning.
How she could have mapped out the demand unit, identified gaps, and tracked engagement with revenue and sales intelligence tools.
What about the FUD (Fear, Uncertainty, and Doubt) strategy? I tend to dislike it unless it addresses a true pain or fear of the buyer. When I worked at MCI back in the ‘90s, one of AT&T’s strategies was to emphasize their reputation and solidity. We used to refer to it as the “Nobody ever gets fired for recommending AT&T strategy”. It addressed the inherent risk aversion of recommending an upstart over the industry behemoth. Such a strategy often works best for incumbents as it allows them to focus on their strengths (e.g. experience, stability, breadth of solution, zero transition costs). Upstarts using FUD need to make sure that they don’t come across as mocking the larger firm instead of emphasizing their strengths as an upstart (e.g. innovation, flexibility, focus).
When training your sales reps, make sure they fully understand your value proposition and those of your competitors. Reps should only be discussing competitors when directly asked about them. Landmines and quick parries emphasize your value proposition and differential value while avoiding the pitfalls of mudslinging. My mother understood these truths four decades ago.
London-based Artesian Solutions announced strong growth and EBITDA profitability in its 2020 – 2021 fiscal year (31 March FYE). The company outpaced its revenue goal by 135% and posted a net retention rate of 110%. Turnover grew 15% last year.
The firm has long been profitable, with a 9X LTV/CAC ratio (Lifetime Value to Customer Acquisition Cost). Furthermore, customers have been integrating the Artesian platform into their workflows, with 65% of new business coming from platform-leveraged transactions.
While Artesian continues to offer sales intelligence tools, its recent focus has been on serving the financial services space. In January 2021, it launched Artesian Connect, “a new platform that combines the latest advances in data-science with the world’s best business information to solve complex, high-value frontline execution challenges such as client pre-screening for risks and opportunities, triage and credit scoring, underwriting risks, accelerated client onboarding, screening and remediation of back-book, monitoring for early warning indicators / enhanced lead indicators.”
Artesian Connect includes a bespoke rules-processing engine that captures client know-how, including business rules, sales preferences, prospecting criteria, and onboarding checks. Connect supports both Artesian’s Premium Data feeds and customer-licensed third-party data integrations.
By combining first and third-party datasets with business rules and existing policies in Connect, the customer engagement process can be streamlined and standardized across large teams. Some of Artesian’s customers have thousands of users, so improving efficiency without impacting the customer experience is critical to successful implementations.
As rules and policies have been codified, employees do not need to review as much company intelligence. Instead, decision-making is reduced to the core information. Supported processes include sales engagement, onboarding, KYC/AML, insurance policy underwriting, and business-specific steps and requirements.
“It’s been a pivotal and transformational year for Artesian. We’ve set new benchmarks in terms of growth and profitability by addressing head-on the disruption caused by COVID-19, being in a strong position to help our customers help theirs, and by harnessing the world’s largest source of intelligence in combination with the latest advances in data science to help our customers solve their most complex challenges and realise their highest-value opportunities. As we move through 2021 and beyond, we will continue to help our customers create more time to spend with their clients by better anticipating needs and navigating the road ahead.”
Artesian CEO Andrew Yates
91% of new revenue came from Financial Services as the company added seventy new clients and expanded the size and duration of contracts during last year’s renewals.
Connect Platform deals were signed with Lombard, QBE Insurance, Triodos Bank, Premium Credit, and Metro Bank, helping drive 22% growth in new business deals.
The firm also expanded the scope of its data licensing partnerships, inking deals with Experian, D&B, Refinitiv, LexisNexis, Graydons, and other business and credit vendors. These partnerships allow customers to process preferred vendor data through the Connect platform. Like many of its peers, Artesian Solutions has thrived during the pandemic. Their mobile push notifications have had high usage during WFH, and financial services firms have increased platform utilization due to economic dislocation and CBILS checks. According to Yates, renewals remain strong, with gross retention in the 90s.
“It’s a feeling of expansion, born of learning so much from our customers, and born of the digital transformation that has happened in the last year,” said Demandbase CEO Gabe Rogol. “This is an intentional step for us beyond being solely an ABM leader and into broader B2B go-to-market. That’s important because ABM is just a part of the go-to-market challenges that B2B companies face.”
The new services are packaged as an ABM Suite consisting of four clouds: ABX, Advertising, Sales Intelligence, and Data. Customers will have the flexibility to order various elements of the suite, selecting the clouds and services that fit their needs.
“Our focus has been on building the most complete ABM solution (we call it ABX, because it’s not just marketing),” said Rogol, “and that was the impetus behind acquiring Engagio, putting a lot of the top of funnel and lower funnel stuff together. That will still be important.”
While some may view this as Demandbase growing beyond ABX, it is an opportunity for them to complete the ABX vision. I have long been critical of Demandbase’s limited framing of ABM within the marketing department. While they acquired Spiderbook, a small sales intelligence vendor, a few years ago, it withered on the vine and is no longer mentioned by the firm. InsideView provides them with an opportunity to realize ABX as a complete customer lifecycle solution. There are still missing elements such as sales engagement tools and chatbots, but they are now working on a much wider canvas.
Demandbase is in a sprint to establish the ABX platform space against vendors such as Terminus, 6Sense, and Dun & Bradstreet. It has been using the ABM three-letter acronym for a dozen years and was a lonely voice extolling ABM for half of that time, arguing for a shift from demand generation marketing to account-based strategies. Earlier this year, it shifted from ABM to ABX (Account Based Experience), which places a greater emphasis on long-term relationships with customers and the broader revenue team (sales, marketing, customer success).
“We’re proud to join forces with these two great companies. Our vision is bold. We are transforming how B2B companies go to market, helping them deliver great experiences at every stage of the account journey. This requires great data — and we now have the premium B2B data and intelligence solutions to help companies identify, understand, and engage their customers and prospects. With this move, Demandbase moves from being ‘just’ a leader in account-based programs to being the definitive leader in B2B go-to-market…
These new offerings let us work even more flexibly with our customers. Customers can mix and match to focus on the areas most important for them, whether that’s data embedded to their existing systems, or advertising, or sales intelligence, or a full account-based transformation. We are moving aggressively to deliver on this mission, and no company will move faster than us to achieve it.”
Demandbase CEO Gabe Rogol
Acquiring InsideView and DemandMatrix strengthens its position in both marketing and sales. Furthermore, InsideView’s sales triggers provide Demandbase customers with a rich set of talking points for account managers and customer success teams, letting them know if there are executive changes, M&A events, new partnerships, etc.
Demandbase, which offers an ABX Cloud and an Advertising Cloud, now supports a Data Cloud and Sales Intelligence Cloud. The Sales Intelligence Cloud is based upon InsideView and supports:
Prospect Finder – A traditional list-building feature for company and contact data. Along with firmographic and biographic data, the InsideView prospect finder includes connection variables (Who Know Who “six degrees”), sales triggers (17 + custom variables), data availability (e.g., LinkedIn Connections, Email), and suppression lists.
Browser Extension – A Chrome extension for quick lookup and prospecting. The extension displays InsideView company and contact profiles from LinkedIn, company websites, and CRMs. Records may be sent to the CRM or Sales Engagement Platforms.
News and Social Insights – InsideView publishes daily email alerts based upon their sales triggers. As these are event-based, most company noise (e.g., stock price fluctuations, scores for teams playing at branded stadia) is removed and duplicates suppressed. They also support inline social media viewing for Facebook, Twitter, and Company Blogs. Inline viewing helps account managers and customer success teams stay abreast of key accounts. It also assists marketing and CI professionals in monitoring key partners and competitors.
Corporate Hierarchies – Family trees assist with lead-to-account mapping, selling deeper into an organization, and ensuring that leads are accurately scored and routed.
The Data Cloud consists of Demandbase, InsideView, and DemandMatrix assets. InsideView contributes close to 100 million global contacts and 17 million companies. DemandMatrix supports technographics (current tech stack, future technology needs, technology-based skill set trends, cloud consumption revenue, and IT Spend).
Other Data Cloud services include Demandbase Account Identification, InsideView Apex (ICP Discovery and Expansion), InsideView Data Integrity hygiene tools, and the InsideView API.
“For the last 15 years, we’ve been focused on empowering our customers to experience rapid revenue growth through the power of data. InsideView’s leadership in sales intelligence made it clear to us years ago that stronger ties between sales and marketing lead to more revenue—and data is the key. By joining forces with Demandbase, we’re combining our legacy and leadership in sales, and the industry’s freshest, most reliable data, with leading marketing technology. Our customers will be able to do more with data across more B2B revenue channels from sales, to advertising, to account-based campaigns. We’re taking the convergence of data and workflow to the next level.”
InsideView CEO Umberto Milletti
InsideView was highly rated in The Forrester Wave B2B Marketing Data Providers Q2 2021 report, scoring a five (highest score) across 14 of Forrester’s 24 evaluation criteria. Among the categories in which they excelled were data management, data coverage, and customer support.
Rogol emphasized the value of technographics for enterprise technology companies, saying that “for technology companies, the number one feature in a data science model is what technologies your prospect owns.”
“B2B data is complex, and customers consistently ask us for help with their data stack,” said DemandMatrix CEO Meetul Shah. “We started with further innovating technographic data to give customers valuable insights into their prospects and what other technologies they might buy. By now being part of the Demandbase Data Cloud, we’ll be able to provide customers access throughout the B2B data stack to help them realize their revenue goals.”
Both Milletti and Shah will continue running their respective businesses and join the Demandbase executive team as general managers. The two subsidiaries will operate separately, but the firm will consolidate the data across the offerings.
Acquisition prices for the two firms were not disclosed. The InsideView service lists its revenue at $30.5 million and 275 employees, which has remained stable over the past few years. DemandMatrix is listed at $3.0 million in revenue with 90 employees.
“At Demandbase, our vision is bold. We are transforming how B2B companies go to market, helping them deliver great experiences at every stage of the account journey. This requires great data,” said Demandbase. “We now have the premium B2B data and intelligence solutions to help companies identify, understand, and engage their customers and prospects. With this move, Demandbase goes from being ‘just’ a leader in account-based programs to being the definitive leader in B2B go-to-market.”
InsideView and DemandMatrix customers benefit from the more extensive go-to-market capabilities of their parent. The DemandMatrix suite helps customers:
Design and orchestrate their entire buyer’s journey across marketing and sales
Personalize their website experience, track account-level engagement, and attribute revenue
Deliver account-based display, native, and social media advertising that is brand safe for B2B
Target and segment their market
Rogol admitted that the integration work would not be easy. “Obviously, we still have a lot of the execution work ahead. One thing to point out is that these are different types of acquisitions than Engagio. With Engagio, the goal was to get to the most comprehensive ABM platform. These are adjacent expansions, so they’re going to operate as standalone businesses pretty much.”
Barb Mosher Zinck of Diginomica was bullish on the transactions, calling it a “smart move” to consolidate the data from three companies under a single platform. “It’s essentially a Customer Data Platform (CDP) without the CDP name (and some CDP capabilities), providing all the critical information sales and marketing need to find the right accounts and contacts within those accounts. The intelligence DemandMatrix brings on technology is key, as is the ability from InsideView to see when things are changing in a company.”
“I also like that Demandbase has broadened its offering from only account-based marketing to sales intelligence because the two groups are tightly aligned,” continued Mosher Zinck. “These two solutions can operate separately but bringing them together under the same umbrella with access to the same data is key to ensuring a company-wide focus on customer experience.”
The following Market Flash published on May 4th to my newsletter subscribers. I also offer a detailed InsideView product review for purchase ($349).
Instead of building the ICP on commonly available firmographic variables, the ICP is customer service based and defined through the discovery process. A bespoke taxonomy is created that applies custom tags by persona, industry, size, etc.
“We want to align your database with your go-to-market strategy,” Feldman told GZ Consulting.
RevenueBase promises to “replace all of your data vendors with one solution” that “reaches every company and decision-maker across the globe that will benefit from your unique offering.” By delivering high-quality, targeted data, revenue teams can shift from managing databases and researching prospects to creating campaigns and focusing on selling.
RevenueBase employs AI for aggregating and integrating its multi-sourced data with the AI building a quality hierarchy for selecting which field to accept when vendors disagree on a value. The research team assists the AI modeling by collecting training data.
Data quality steps include custom research, quarterly email re-verification, and annual phone checks. Data is delivered via a quarterly secure CSV file transfer with a 90% accuracy SLA.
Content includes standard firmographics, mined and licensed business descriptions, sizing ranges, industry codes (SIC, NAICS, and custom), contact information, and technographics. Funding data includes total funding, most recent round amount, and most recent round date. While full family trees are not available, locations are tied to parent companies.
Contact data includes mobile numbers, direct numbers, LinkedIn URLs, tenure at current job, work addresses, and mapped persona.
RevenueBase has already aggregated 700 million business contacts and 100 million companies, providing it with one of the most extensive sets of contacts in the industry.
Intent data and sales triggers are not currently available.
RevenueBase provides opt-out notifications to its customers, letting them know when an individual has opted out of their database or the database of one of their contributing vendors. It also suppresses California mobile numbers in support of CCPA.
RevenueBase is off to a strong start. Since soft launching the service in October, they have generated $800,000 in revenue and have a $500,000 ARR. Early success has allowed it to launch the service without accepting outside funding.
The firm is still in the early stages of development. It has focused on building its content aggregation model, custom research, and customer service/discovery model based upon Feldman’s experience as both a B2B marketer and data industry executive. As such, RevenueBase has an advanced DaaS vision but does not yet have APIs and connectors for data delivery. However, it has a unique approach that is gaining early market traction. Initial customers include Siemens, PTC, Localytics, SolidWorks, and CB Insights.
RevenueBase is sold as a flat-rate subscription service between $50,000 and $100,000 per annum. Additional fees are applied for custom research. RevenueBase is headquartered in Boston.
RevenueBase, which describes itself as a Revenue Database as a Service (RDaaS), formally launched on Tuesday as a “one-stop data solution” that recognizes data as a “strategic asset for a business.”
According to 2016 research by SiriusDecisions, marketing databases are riddled with critical errors with bad data ranging from ten to twenty-five percent of records. SiriusDecisions noted that the firms with higher data quality have shifted from periodic data cleansing projects with discrete completion dates to data maintenance processes with “ongoing policies and procedures to maintain data quality.”
RevenueBase was founded by industry veteran Mark Feldman, the VP of Marketing at NetProspex prior to its acquisition by Dun & Bradstreet. As a marketing head at Backupify, Motion Recruitment, and Localytics, Feldman became frustrated with B2B data issues, including misalignment with the sales and marketing team’s go-to-market strategy, data decay, difficulty acquiring data, and managing disparate vendors and formats. His stint as a B2B data customer led him to return to the B2B data space and create an RDaaS company that broadly aggregates company, contact, and technographic data that aligns 1:1 with customers’ go-to-market strategies. It then builds a custom database for clients that it calls a Revenue Database, which is updated on an ongoing basis.
“When I was hired to run growth operations at Localytics, a web and mobile app analytics company, my first directive from the CEO was to put together a list of target accounts to assign to our new enterprise account executives. It was my first week and my reputation was on the line. I started by going to our data vendor and asking them to help me build a list of all of the companies in the world that were focused on mobile monetization strategies across millions of monthly active users. Seems like a slam dunk, right? Nope.
My list for Localytics was full of bad data. There was no way to confirm the companies listed had the mobile monetization opportunities that our software could solve, or that mobile monetization opportunities would be high up on their list of priorities. I quickly realized that, in the B2B world, not all data is created equal. Right then and there, I saw an opportunity to change the B2B data game by solving the major growth impediment challenges facing revenue leaders—acquiring, integrating and maintaining the quality of their data—by building the world’s first Revenue Database as a Service.”
RevenueBase CEO Mark Feldman
“Like so many B2B marketers, I was frustrated with the inadequacies of traditional list providers,” wrote Feldman. “I saw an opportunity to revolutionize the B2B data game and solve the greatest challenges facing revenue leaders today. Our all-in-one Revenue Database as a Service solution provides next-level data quality, expediency, and accuracy. We transform your data stack from a constant struggle into your greatest asset.”
RevenueBase takes a white-glove approach to serve its customers. Revenue Archetypes are defined during customer workshops and consist of an ICP, market segmentation, pains addressed, buyer personas, sales showstoppers, and “jobs to be done.” The Jobs-to-be-Done descriptor is a bit misleading as it is account, not persona-based. Jobs-to-be-Done describes the core functional “job” that an organization is trying to accomplish.
Personas cover function, level, titles, buying unit members, demographics, behavior patterns, motivations, and goals.
RevenueBase then builds a revenue database for its clients and supplements it with custom data collected by its overseas team of fifty editorial researchers.
“A revenue archetype is a model of what your ideal customer looks like, i.e., one you can derive revenue from,” said Feldman. “It’s where there is a mutual benefit. They need your product/service and will pay a fair price for it. They also will favor you over the competition because your solution will result in the best cost-benefit tradeoff for the customer.“
Conversely, the Revenue Archetype also defines companies that are not good fits (e.g., industries or geographies that require a standard not met by a firm’s offerings, such as HIPAA or GDPR). It also identifies roles not involved in purchasing a company’s products or services. These individuals may be too junior in the organization or not work in functions that use a company’s products or services.