At their Rainmaker 2019 conference, SalesLoft announced a doubling of their partner ecosystem, mobile functionality, a rebuilt analytics engine, and a hot leads feature, and expanded CRM connectors. The show attracted 1,300 attendees to hear 164 speakers.
SalesLoft released an iOS mobile app that allows users to place digital calls through the SalesLoft platform. Calls are directed through a Twilio dialer and then analyzed by SalesLoft. Post-call automated features include automated transcription and indexing, call analytics, and CRM sync. Thus, if the rep places a call on the road, she will have a fully transcribed, indexed, and analyzed call when she returns to the office.
to making the call, the user can set one-sided recording or local number calling.
Users can also add new contacts to cadences and will be notified when
prospects engage with a cadence. An activity stream is on the mobile app
inbound calls, the rep can quickly enter call notes which are synced to the
are no immediate plans for an Android app.
“I believe sales is about relationships and sales engagement is essential to building those relationships. Through data science, meeting intelligence and efficient account-based workflows, SalesLoft lets you focus on what matters most: building relationships and solving customers’ problems.”
SalesLoft VP of Product Butler Raines
is implementing a new reporting framework with an event-driven architecture
which supports an open data API. Two reports, a Cadence Performance
report and an Account Report, have already been rolled out. The framework
supports configurable dashboards which can be quickly built with advanced
analytics and visualizations using Business Intelligence tools. Sales Ops
can also build real-time reports and dashboards within Salesforce.
SalesLoft is extending machine learning and AI into its platform. For example, SalesLoft machine learning tools detect the prospect’s position and level at a firm and selects the optimal persona-based cadence. A new Hot Leads feature prioritizes prospects based on content engagement and website activity.
SalesLoft, which has long supported Salesforce, will be adding connectors for Microsoft Dynamics and SAP.
“We have seen a sizeable increase in CRM demand beyond the Salesforce ecosystem. SalesLoft is excited to enable organizations running on SAP C4C and Microsoft Dynamics to better serve their customers.”
Sean Kester, SalesLoft VP of Platform Strategy
SalesLoft will be regionalizing its data hosting by region or usage. “This not only allows for customization (for example, keeping data that originates from the European Union in the EU) but also improves security and platform performance,” blogged the firm. “Whether it’s through regulation compliance, security-minded development, or thought leadership, SalesLoft looks to partner with our customers for mutual success.”
SalesLoft announced a set of additional partners available through their app directory. I will discuss these on Monday.
Artesian Solutions CEO Andrew Yates published a year-in-review blog and a preview of their upcoming Artesian Risk and Compliance Hub (ARCH). The new ARCH capabilities will extend their social selling platform into Know Your Client (KYC) reviews at UK banks. ARCH is in early testing.
ARCH leverages Artesian capabilities around interpreting structured and unstructured data ”to create useful flags and to drive appropriate actions.” Artesian already is on the desktop of relationship managers (RMs) at most of the major UK banks. “This puts us in a unique position to make insights regarding financial and KYC risks available to the front-line as a pre-screen, to ensure that corporate banking relationships begin with an appropriate understanding of risk.”
supports an automated audit trail and storage of evidence. Early tests
found ARCH to be “100% accurate in reflecting policy in pre-screening.” Arch
also reduced the time spent in gathering risk assessment data by 90% and
identified 14% more risk issues compared with manual processing.
a pre-screen at the front-end of client discussions, RMs can focus on new
clients that will pass muster during the onboarding review process. This
process makes both relationship managers and compliance professionals more
effective. RMs will no longer be spending time with prospective clients
that won’t pass compliance review while compliance professionals can focus
their attention on more complex reviews which require their skill and
“ARCH gives companies control of a sophisticated decision engine to enable data being accessed to have rules applied and flags created. It means that Relationship Managers can see a summarised view of what their central risk teams assessment of a potential client would be, before spending time and money engaging with them. The automation aspect of this is fundamental as it brings efficiency, consistency and control to the areas it transforms.
But more than that, it places compliance at the heart of the business – front of mind for every member of staff, informing every decision, instructing every interaction and shaping every relationship from pre-screens for new customer prospecting through to long-standing client development.”
Artesian CEO Andrew Yates
McKinsey research which notes that the risk function at financial institutions
is being transformed “with the detection, assessment, and mitigation of risk” being
transferred to all employees by 2025.
Risk and Compliance tools are a greater focus amongst European sales intelligence firms due to the availability of private company registry data. While US private companies provide only minimalist filings with Secretaries of State offices (with a few exceptions in insurance, banking, and nonprofits), UK company registration data includes directors, shareholders, and financials. Other UK compliance data includes sanctions lists, Politically Exposed Persons (global government officials and relatives), disqualified directors, gazettes (shuttered business and those in receivership), and traditional credit reports. Vendors such as Artesian, DueDil, and Bureau van Dijk have recently emphasized compliance and risk tool development over sales intelligence offerings.
reached 30,000 users in 2018 with their user base tracking over 800,000
companies. According to Yates, Artesian customers “have received 12.5
million actionable insights, 2.5m unique computational matches each week,
automated the equivalent of 2 trillion Google searches per week (13bn per
hour), and have made 523,813 useful connections using Artesian data.”
staff provided over 350 training sessions, webinars, and workshops to more than
3,000 users in 2018. Artesian Academy delivered an additional 1,200
multi-media tutorials, certification modules, role-based tips, and social media
best practices overviews.
DiscoverOrg continues to rollout additional datasets to meet the needs of sales and marketing professionals that target specific corporate departments. The latest dataset focuses on legal and compliance departments, complementing datasets for technology, sales, marketing, HR, finance, and the executive suite. The new dataset meets the same standards of coverage and quality as previous datasets (e.g. 95% accuracy guarantee, 95% email fill rates, 90-day refresh rate). Along with executive bios and contact information, users will enjoy compliance department org charts, installed technology, and buying signals.
“Companies selling into legal and compliance functions have become okay with buying inaccurate, outdated contact data and sales intelligence tools—some in actual book form. And until now, legal and compliance companies had few other options. DiscoverOrg is changing that and bringing a solution to the market that is robust, high quality, and designed to allow these organizations to build their businesses around.”
Chief Growth Officer Katie Bullard
“Lack of access to contact data has prevented engagement with in-house legal teams at corporate entities,” said the firm. “Many companies outsource legal services to 3rd party firms, but the largest 20% of corporates manage most legal matters in house. The Legal and Compliance dataset enables legal technology and legal services companies to systematically reach this untapped buyer group – to position a technology solution or be the vendor of choice.”
DiscoverOrg is “already seeing high demand” during their soft launch window and have signed several “high-profile legal technology companies.” The dataset is designed for Legal Services companies, Law Firms, and Staffing and Recruiting firms looking to place Legal and Compliance talent.
Coverage spans 150,000 legal professionals across 25,000 organizations constituting “the largest and most complex legal departments and the largest law firms.” Corporate titles include General Counsel / Chief Legal Officer, Legal Operations, Compliance, Government Affairs & Relations, Litigation, IP, Contracts, eDiscovery, Risk Management, Governance, and General Counsel Executive Assistant. Titles at legal services and law firms include C-Suite / Partners, IT, Finance, and Legal staff. Also included are legal representatives at federal, state, and local government entities. Data Security Officers can be found in the IT dataset.
“Ten years ago, DiscoverOrg completely revolutionized the way IT companies prospected, and we’ve now brought that sales and marketing revolution to the rest of the market,” said CEO Henry Schuck. “Companies outside of IT have become okay with buying inaccurate, outdated contact data and sales intelligence tools—some in actual book form. That is not okay, but until now, legal and compliance companies had few other options. Today we are changing that and bringing a solution to the market that is robust, high quality, and designed to allow legal and compliance companies to build their businesses around.”
In 2017, the DiscoverOrg database roughly doubled its contact coverage to three million biographies with emails, direct dials, organizational position, and responsibilities. DiscoverOrg also expanded its company coverage by 50% to 125,000 global entities. The growth was bolstered by the acquisition of RainKing at the end of August. The firm has a team of over 300 researchers responsible for building and maintaining datasets. DiscoverOrg is used by sales, marketing, and recruitment teams at over 4,000 firms.
I came across some excellent tips from Johnty Mongan, Managing Director of The Mongan Group concerning the new European sales environment post-GDPR. Selling in Europe will be trickier in May as reps need to obtain opt-in approval
Mongan provided the following advice:
GDPR is about protecting our interests from unlawful behaviour. GDPR removes the unwanted cold calls, email campaigns and any other processing that we haven’t agreed to. A transparent and fair existence for all. I really like it, it fits with my karmic views of the world.
It won’t how ever stop marketing activities through publicly available information, like a company email or a company number…
It’s time to go old school… here’s what you can do to reach new customers in a lawful and GDPR way:
Get consent from current customers to continue marketing to them. Do it in an engaging way. That’s a must.
Provide explicit consent of your intentions to all new prospects when luring them in with shiny content. For example, download this form so I can phone you. That’s a must.
Go to the events your customers go to, get over yourself and introduce yourself. That’s a must.
Hold your own events.
Get more business cards…. they are not as useless as you may think.
Offer referral schemes to current customers. You should do that anyway.
Market your services within ethical channels. Where you customers go, you go
My list goes on, but it all centres around building clear authentic relationships. This is a good thing because most “sales” are won on the back of authenticity and trust. I see leading the charge with GDPR compliant sales processes a fantastic way to demonstrate your intentions.
So basically, what’s old is new again. While marketing needs to be particularly attuned to GDPR, sales reps also need obtain permission.
Data automation vendor Openprise announced support for the EU General Data Protection Regulation (GDPR) which goes into effect on May 25th. The new Openprise Data Orchestration Platform capabilities provide “visibility, control, and access management inside and outside of a company, without the added complexity of traditional compliance solutions.”
The GDPR specific functionality “controls the flow of EU data out of your company” via “fine-grained data filters and permission roles,” and flags leads and contacts which are subject to the GDPR even if the records lack country flags. The firm performs checks based upon emails, IP addresses, phone numbers, and non-standardized country fields. Both standard and custom fields in sales and marketing automation platforms are GDPR validated. Openprise maintains an audit trail and logs records which have been processed by partners.
The firm noted a Catch-22 in GDPR regulations. Enriching records that lack country designators may require enrichment from non-compliant datasets, violating the law. By utilizing data from within the record (e.g. domain, phone numbers), Openprise avoids violating the law in order to support the law.
“The vast majority of US-based companies are woefully unprepared for GDPR, and this new set of regulations has teeth. We’ve heard from our customers that they want a central control point to help maintain compliance with GDPR. Openprise’s position in the MarTech stack as the conductor that manages the movement and processing of data across systems puts it in a unique position to serve as this control point.”
Openprise CEO Ed King
The GDPR is broadly written to cover data held by non-EU companies, even those without operations or sales staff within the EU. Penalties can be quite high, reaching up to 4% of revenue or €20 million, whichever is greater.
“What’s so critical about GDPR is that it affects companies everywhere in the world, whether they have a presence in the EU or not, and unlike many other regulations, this one has teeth,” says Allen Pogorzelski, vice president of marketing at Openprise. “If you’ve got EU citizen data in your databases, you’re subject to GDPR regulations. U.S. companies that ignore these regulations do so at their own peril.”
This summer, Openprise launched a Data Marketplace to assist with ingesting and normalizing third-party B2B and B2C data. Amongst the platforms supported are Salesforce, Marketo, Eloqua, and Pardot. The Data Marketplace, part of the Openprise Data Orchestration platform, includes built-in rules to ensure data are properly onboarded. B2B Partners include Zoominfo, InsideView, Orb Intelligence, Synthio, Salesgenie, and Dun & Bradstreet.
European company research firm DueDil rolled out a set of enhancements spanning list building, list analytics, compliance validation, and their API. DueDil’s products are used for sales intelligence, company research, and onboarding Know Your Client (KYC) / Anti-Money Laundering (AML) compliance checks.
DueDil added four Ownership search filters to assist with targeting firms with concentrated shareholdings “ripe for takeover.” The new screens include Total Shareholding Count, Individuals Count, Companies Count, and Shareholder Name.
The firm rolled out interactive lists which build upon their list capabilities. “Interactive List Reports offer a unique way of mapping whitespace and identifying new prospects, based on high-performing segments identified in a List Report,” said Product Marketing Manager Sam Hockley. “By accessing a customer list in Report view, common traits and trends are visualised, and the characteristics of quality customers can be easily identified.”
Users can now view any List Report segment in Advanced Search, surfacing the companies and related criteria. Users can drill down on segments to research anomalies or focus on size brackets within the list. The functionality can also be used to display similar companies while suppressing the original list, providing a tool for expanding the pool of ABM candidates.
Both the browser and API now support compliance checks including Politically Exposed Persons (PEPs), sanctions, fraud warnings, and adverse media. These checks are part of standard KYC / AML onboarding steps. The Adverse Media Check includes Gazette Status (receivership, shuttering a business) and County Court Judgments. Politically Exposed Persons lists identify government officials and close family members to flag funds which could be related to bribes, kickbacks, and money laundering. Sanctions lists flag individuals associated with terrorism, trafficking, and money laundering.
“Conducting these checks with DueDil allows businesses to identify any and all linkages of corporate ownership and associated individuals. As a result, when a check is run against a specific entity, that check can be extended to all of these related parties, returning any flags or sanctions across the entire group. Advanced datasets reveal the ultimate beneficial owner of a business and enable checks for PEPs and any sanctions levied against a business,” said Hockley.
DueDil performs KYC/AML checks against both businesses and individuals. People checks are performed in conjunction with Callcredit.
DueDil also recently launched API support for webform auto-population and enrichment.
On May 25, 2018 the EU General Data Protection Regulation (GDPR) goes into effect, creating data privacy and security concerns for firms both inside and outside of the EU. The GDPR covers both companies that provide goods and services to EU residents and those that are part of the value chain. The regulation covers all individuals domiciled within the EU, regardless of where the company is headquartered.
According to Forrester, the regulation has five key requirements:
If a firm has “regular, systemic collection or storage of sensitive data,” they need to hire or designate a Data Protection Officer (DPO). The function may be filled by individuals with legal, privacy, security, marketing, or customer experience. The International Association of Privacy Professionals (IAPP) estimates that the regulation will require 30,000 privacy officers. The DPO will need to work with security leaders with respect to identity and access management (IAM) and encryption. They will also be involved in purchasing decisions around CRM, analytics, and other platforms.
Should a data breach occur, firms have a-72 hour window for reporting breach details to the authorities and customers. The window begins as soon as the breach is detected.
Privacy must be built into any new projects with a “Privacy-by-design” philosophy. Forrester stated that “sustained collaboration between teams will be critical, so firms will have to establish new processes to encourage, enforce, and oversee it.” For example, privacy officers will need to review business requirements and development plans related to new apps.
Extraterritoriality places requirements on firms outside of the EU, making it a global requirement. Forrester notes that “a US-based data aggregator that collects and resells EU customers’ data to other business partners will need to comply fully with GDPR requirements, rather than simply meeting international data transfer rules.”
Firms will be responsible not only for securing data but providing evidence that they have implemented appropriate risk mitigation. Thus, a firm can be held in violation even if they have not had customer complaints or data breaches.
US companies are still obligated to comply with the 2016 Privacy Shield agreement between the US and EU. Forrester also warned UK firms to comply with the GDPR as lowering British privacy standards would only serve to complicate UK-EU data transfer rules post Brexit.
Forrester suggested that firms take a cost-benefit analysis to data instead of simply storing everything:
“Firms will learn to better assess the costs and benefits of records they process, store, and protect. They will progressively focus on collecting, buying, processing, storing, and protecting only the data that offers them the most value and will kill the rest.”
Forrester also suggested that privacy should be part of a firm’s DNA and some firms will integrate privacy into brand perception and the customer experience, providing a basis for competitive advantage.
Osterman Research conducted a survey of mid to large companies subject to the law to identify technology expenditure increases for GDPR compliance.
GDPR non-compliance costs are potentially very high with penalties up to the greater of €20 million or 4% of total worldwide annual turnover of the preceding financial year.
Recently, I had the opportunity to sit down with Artesian Solutions CEO Andrew Yates and discuss topics including artificial intelligence and risk tools they are integrating into their social selling service. This is the second in a series of interview excerpts I am publishing this week. On Monday, Andrew discussed Artesian’s 2016 entry to the US market.
Michael: You have recently begun to introduce AI capabilities into your platform.
Andrew: What we’ve done in our first incarnation of bot-driven AI is we’ve created something that we call an “insight agent” that, through an API into Salesforce, can build you a view of threats and opportunities within your pipeline. Which, in itself, is pretty damn useful; much more useful than a forecast report or a dashboard which is the way you see it in Salesforce today. Then we’ll lay out all of those deals by stage and value and overlay today’s new social and demographic context on top. That’s pretty useful.
With the latest release, we’ve created a bot which literally reads and interprets the news in relation to the stage of the sales process that you’re at. And, where it sees a particular trigger that has meaning in relationship to a particular stage, it flags that. Most organizations have implemented the concepts of sale stages when they’ve implemented CRM.
Typically, when I ask somebody, “how many stages do you have?” They’ll say, “between five and seven.” The system automatically builds you a view depending on how you’re implementing Salesforce, however many stages you’ve implemented and what you call them. Then what the bot does, is it crawls all over the news looking for things that could impact those opportunities at the stage they are at.
Let’s say, I’ve got a six-stage process where stage six is closed and stage five is a negotiation. Artesian’s insight agent finds out about a CIO who has left the business. The insight agent will notify the user that there’s a potential problem with the deal in their pipeline. The agent will tell them why there is a problem and how it’s been categorized. There’s half a dozen next-best actions that we bundle up with the insight as we deliver it. That’s our first attempt at taking the concept of machine-based learning and natural language processing, combining it with an AI bot, and trying to make that useful for customers.
We’ve introduced the ability for the user to customize their own topics, keywords, and trigger events. We offer a bunch out of the box, and we also wrap a managed service around it and easy implementation to every customer.
We’re also seeing a lot of activity in the “RegTech/RiskTech” arena with the growth of cybercrime and terrorism, and the sensitivity around regulation of any financial, FCA [UK Financial Control Authority] regulated [business]. There are regulations that organizations need to comply with. We’re increasingly being asked by our financial services customers, particularly the banks, to get deeper into being able to provide those capabilities inside of Artesian.
Organizations want to mitigate risks. They want to fall within the arena of whatever the regulation is and comply with the law, but they also want to exploit the technology as best they can to make sure they write the best business that they can. We’re doing some work at the moment in conjunction with one of our demographic data suppliers. What we’re looking to do is extend the capabilities in Artesian to provide some of the capabilities that our customers are asking for in the RegTech / RiskTech environment. We’re going to introduce risk agents. Risk agents look at the real-time present and it looks at the past. It specifically looks at things that are in-line with the regulations and also in-line with the stated risks that the customer has mapped out.
What that translates into is a service that is not only compelling in terms of customer acquisition, customer retention, and yield, but also compelling from a kind of, you don’t go to jail if you’re using Artesian because it’s doing the regulation and risk job for you as well.
Michael: When you say risk app, are you talking more about supplier risk, compliance risk, credit, reputational?
Andrew: There are 40 or 50 pretty big companies doing this thing already. What we’re talking about is company-centric intelligence, but also the people associated with that company and the intelligence that we’ll need to derive around whether something is risky or not. It could be the performance of a business. It could be some adverse news in relation to that performance. Or it could be that an individual who has a beneficial ownership, more than a 5% stake in a business, happens to be on a naughty list in terms of the PEP [Politically Exposed Persons] or sanctions.
At the moment, we have risk triggers in the opportunity view. They’re not compliance risk triggers. If you’re going to a client, they need to know about key beneficial ownership.
Michael: Is that part of the opportunity view or is that a new type of view?
Andrew: A new type of view. We have risk triggers in the opportunity view, but they’re not compliance risk triggers. If you go into a bank, they need to know about beneficial ownership, adverse news going back three years, PEP, sanctions, real-time alerts from stock exchanges. None of that is feasible within a generic instance of Salesforce.com in an opportunity view.
Michael: It sounds you’re looking to move beyond the sales and marketing teams to start to get to into things like onboarding, KYC [Know Your Customer], AML [Anti-money Laundering], PEP, and other compliance aspects that really go into monitoring of clients as well as the initial onboarding.
Andrew: Yes, if you go back to the whole customer curious mantra and deep relationship management, we like to say that we put the R back into CRM. We are all about that relationship.
The conversations we are having with our large customers would indicate we are on the right track with that.
The interview will be continuing over the next few days with discussions of what it means to be a “customer curious” business and how Artesian maintains a very high engagement rate amongst its users. Monday’s blog discussed Artesian’s 2016 entry into the US market.
Dun & Bradstreet unveiled a new Beneficial Ownership product to assist with client onboarding and back-book remediation of current customers. The service helps determine who are the ultimate benefactors of each transaction. Beneficial Ownership assists with legal compliance including Know Your Customer (KYC), Anti-Money Laundering, Politically Exposed Persons (PEP), and sanctions lists monitoring. Overall, there are around a dozen relevant regulations concerning beneficial ownership with different thresholds for research. By automating these checks, which have historically required manual research teams, Dun & Bradstreet is reducing time, expense, and risk (e.g. credit, supplier, reputational) while expediting the client onboarding process.
“Compliance teams are challenged to manage third-party due diligence, Anti-Money Laundering, Know Your Customer and tax compliance regulations through manual processes that can be costly and inefficient,” said Brian Alster, Dun & Bradstreet’s Global Head of Supply and Compliance. “By harnessing Dun & Bradstreet’s verified data with D&B Beneficial Ownership, the process can be easily automated to fast-track standard onboarding, helping companies relieve compliance burdens, and get back to driving growth.”
While family trees focus on controlling interest there are numerous legal reasons to look beyond controlling interest. These include onboarding and ongoing compliance (e.g. KYC, AML, PEP, sanctions) as well as company research relevant to conflicts of interest, supply chain risk, and vetting customers, partners, service providers, and resellers.
The new offering, which draws from the D&B WorldBase file of 265 million active and inactive company records, spans 62 countries and 71 million shareholders. D&B Beneficial Ownership is available through batch, real-time, and online access via the D&B Direct API or D&B Onboard. The service also delivers ownership change alerts and a visualization layer which displays a spider-web view of branches and loops of business structures. To assist with varying global requirements, users can query at different ownership thresholds. Both corporate and individual beneficial owners are assessed across 100 million plus connections.
With D&B Direct 2.0, API clients pass the company name which is DUNS Matched. The API then returns a detailed list of shareholders to the desired threshold including percent of ownership and loops (i.e. cross-ownerships).
Dun & Bradstreet collects shareholdings data from registered filings (mostly in Europe), direct research teams, and licensed data. Ownership data goes down to 0.1% ownership levels. Other compliance data includes PEP flags, sanctions lists (e.g. OFAC), and adverse media searches.
Beneficial Ownership intelligence is also important for companies with deep supply chains looking to prevent reputational risk and ensure a minimal level of ethical behavior amongst their subcontractors. Last May, Dun & Bradstreet launched a Human Trafficking Risk Index tool which helps firms avoid dodgy suppliers that may be using slave labor. The Human Trafficking Risk Index is the first in a series of “Responsible Business Analytics” products in their pipeline.