Artesian Solutions Tech Sector Sales

UK social selling vendor Artesian Solutions
recognized significant growth in the technology sector in 2018, with tech sector revenue up 255% in 2018.  Artesian attributed the growth to the “vast return on investment that can be achieved by leveraging millions of data points to create new relationships, establish credibility, address individual pain points and wider market challenges, and create new opportunities.”

The Artesian social selling platform provides users with a rich set of sales triggers combined with company intelligence.

“Technology companies are increasingly investing much of their valuable brain power into crafting long-term, powerful relationships from the start of the customer journey,” said CEO Andrew Yates.  “By harnessing technologies such as Artesian they’re uncovering opportunities to act in more contextually aware, empathetic and personalised ways and in turn are seizing opportunities to differentiate in an entirely different way, rather than focusing on features, benefits and brand reputation alone.”

Yates continued describing Artesian’s value proposition to technology sales reps:

“Harnessing the most valuable company information, market data and customer insights means Artesian’s technology customers can build innovative propositions for their products and services, prioritising ideas based on solving actual business challenges in each customer segment they serve.  The sheer pace of change in the technology sector, including new entrant disruption, means enterprise providers can quickly fall behind if they’re not able establish deep, value-based relationships, especially when they may not be able to react as quickly within product development as their smaller competitors.  Artesian’s growth in the sector highlights a shift in focus towards customer experience and value-based selling.  Our technology customers are great examples of how to stay relevant and grow, even in a challenging political and economic environment.”

Artesian Solutions CEO Andrew Yates

Artesian’s technology customers include Oracle, Amazon Web Services, SAP, BT, Infinity Tracking, and Canon.

Artesian Solutions has also shown strength selling to British banks and insurance companies.  Another 2019 object is the infusion of artificial intelligence into financial services onboarding and compliance tools. The firm has 30,000 users located in the United Kingdom and United States.

Artesian Risk and Compliance Hub

Artesian will be launching its Risk and Compliance Hub, which supports front-line KYC checks, in 2019.
Artesian will be launching its Risk and Compliance Hub, which supports front-line KYC checks, in 2019.

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.”

Arch 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.

By providing 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 expertise.

“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

Yates cited 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.

Artesian 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.”

Artesian 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.

Rhetorik Extends its UK/Irish NetFinder Service

Job Function Searching in Rhetorik NetFinder
Job Function Searching in Rhetorik NetFinder

UK Technology Sales Intelligence vendor Rhetorik released an enhanced version of its UK and Irish NetFinder service. The revised edition covers over 40,000 corporate and public-sector sites. The service doubled its technology buyers to 215,000 and increased its technology coverage five-fold including enhanced install data on cloud, enterprise and vertical industry applications, system software and middleware applications.

The Rhetorik database tags over 10,000 products from 6,000 vendors and maintains over 150 technology categories. Data coverage spans 164 biographic, firmographic, and technographic variables including email, phone, revenue, employees, line of business, and site-level technographics. All contacts are GDPR compliant and 92% contain emails.

“Rhetorik has adapted its policies and procedures to upgrade DPA regulatory standards to meet GDPR requirements,” said the firm. “While monitoring closely progress on the e-Privacy legislation, Rhetorik follows best-practice processes as set by PECR – Privacy and Electronic Communication Regulation. We have implemented clear and easy to follow procedures for individuals to be informed and manage their own Business Card Data. We keep access to all B2B information secure and protected.”

Data is gathered through a combination of automated means and editorial research.

Over the past year, Rhetorik has partnered with the European Market Intelligence Group (EMIG) and CNCData to provide European and AsiaPac coverage. The EMIG coverage spans 14 countries, 180,000 companies, and one million contacts. The CNCData partnership delivers over two million contacts and 1.2 million companies across 23 AsiaPac countries.

Rhetorik, which has provided technology intelligence for over two decades, underwent a management buy-out last summer. At the time, CEO Meredith Amdur, set a goal of expanding their “data gathering and analytics capabilities to create new products for technology sales and marketing professionals worldwide.”

2017 Field Guide to Sales Intelligence Now Available

I am proud to announce that I released the second edition of my book, 2017 Field Guide to Sales Intelligence Vendors yesterday.  It has been a long process of updating and expanding the original eleven profiles, adding three new profiles for the UK (Bureau van Dijk, Artesian Solutions, and DueDil), and adding four profiles for Account Based Sales Development (ABSD) vendors with ecosystems (KiteDesk, Outreach, Quota Factory, SalesLoft).

I have written blog articles on almost all of the seventeen profiled vendors in the past year.  So if you’ve found my blog useful, the book will be invaluable for procurement decisions or staying abreast of the key vendors in the SI space.

As sales teams and procurement departments may have gone through vendor demos or trials back in 2015 or early 2016, I have added sections which detail product changes over the past year.  These include new product launches, vendor changes, enhancements, and pricing changes.

I have also added or expanded discussions on Account Based Marketing (ABM), Account Based Sales Development (ABSD), Marketing Automation connectors, and the UK market.

You will even find a new Glossary.

Feel free to contact me at 978-692-0170 or MLevy@GZConsulting.org.  I am offering a 20% licensing discount during the month of January.

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Field Guide to Sales Intelligence Vendors

2017 Field Guide to Sales Intelligence Vendors
2017 Field Guide to Sales Intelligence Vendors

I am now taking pre-orders for my 2017 Field Guide to Sales Intelligence Vendors.  This is the second edition of my book which I expect to deliver to my clients by the end of this year.

I am currently bundling in the 2015 edition with pre-orders at no extra charge.  Please contact me at MLevy@GZConsulting.org if you would like to discuss a license.

Approaching the update has proven to be as big a task as writing the original edition due to the rapid expansion of the sales intelligence market and a decision to include several additional categories of vendors.

To assist purchasing departments that either purchased my book last year or performed a 2015 or 2016 evaluation, I have added profile sections covering:

  • 2016 New Products
  • 2016 Vendor Changes
  • 2016 Functionality Changes
  • 2016 Pricing Changes
  • ABM Features
  • ABSD Partners

The original edition focused on eleven vendors that provided either US or global markets.  Coverage included the top five by revenue: LinkedIn Sales Navigator, Data.com, Hoover’s, Avention, and DiscoverOrg.

This year I have added profiles on three UK-based vendors:

Bureau van Dijk is one of the top global financial research and sales intelligence companies.  I omitted them last year because they did not return my calls (yes, analysts may ignore you if you fail to support their research efforts).  This year I will cover them whether they cooperate or not.

UK vendors, along with Avention, provide a deep set of registered company data including Directors & Shareholders; Mortgages & Charges; Gazette Status (winding down, receivership notices); and filings data.  Thus, if you have a significant percentage of your sales reps in the UK (or Europe in general), it is worth understanding how US and UK sales intelligence products differ in content, functionality, strengths, and weaknesses.

A second new category of entrants is the PC/VC databases that rolled out sales intelligence services over the past year:

These products cover a smaller universe of companies (generally around one million), but focus on the fastest growing companies.  Traditional sales intelligence vendors tend to be behind the curve on profiling these firms.  Furthermore, they include funding and M&A intelligence, also gaps within the traditional sales intelligence space.

The third new category is Account Based Sales Development (ABSD) vendors (aka Sales Acceleration) that focus on workflow tools for Sales Development Reps (SDRs).  These products provide email templates, phone dialers, cadence/workflow tools, and analytics.  While not technically sales intelligence vendors, I am covering four vendors that have built partner ecosystems that include SI vendors:

Finally, I added discussions of both ABM and ABSD as both topics have trended strongly over the past year as B2B firms look to adopt a more strategic approach to sales and marketing.  Several firms are now positioning themselves as ABM solutions or strongly messaging around their ABM capabilities.

Sales Intelligence: US vs. UK

UK private company financials (source: Artesian Solutions)
UK private company financials (source: Artesian Solutions)

The UK is the second largest market for sales intelligence services.  For US firms, the UK is usually either the second or third market (after Canada) which they support.  Thus, the UK market is served by both British (e.g. DueDil, Artesian Solutions, Bureau van Dijk) and American companies (e.g. Avention, Dun & Bradstreet, Factiva).

A key difference between the US and UK markets is the availability of UK private company data.  Approximately three million active UK firms are required to register with Companies House (the major exceptions are small businesses, partnerships, and public sector entities).  Large firms are required to provide full financials while mid-size firms may only be required to file a Balance Sheet or summary financials.  The smallest firms may simply be required to file a basic Annual Return with Director and Shareholder information and abbreviated accounts.

Along with annual financials, the UK filing regime requires statements concerning Directors and Shareholders (DASH); Mortgages, Charges, and County Court Judgments (MCCJ); and Gazette filings concerning receiverships and the winding down of businesses.  The net effect is a richer set of financial figures, superior intelligence concerning corporate families and ownership, a broad list directors, and intelligence concerning cross-company director linkages.

There are some drawbacks to this system.  First, the filings for private companies are not filed until three quarters after the end of the financial year so one is generally looking at data that is three to seven quarters in arrears.  A company’s financial position can shift significantly during this time.  Of course, few companies in the US are required to make any kind of financial filings.

Second, statements may be filed from the offices of corporate secretaries, accountants, or corporate owners.  Thus, the registered address often differs from the actual “trading address”.  When evaluating UK sales intelligence tools, look for vendors that provide both registered and trading addresses.  You should also ask about the population of URLs and phone numbers.

In the UK, sales reps should be calling into the Trading Address (physical) location, not the Registered Address (legal). Make sure your Sales Intelligence service provides both.
In the UK, sales reps should be calling into the Trading Address (physical) location, not the Registered Address (legal). Make sure your Sales Intelligence service provides both.  (Source: Avention)

Third, while there is very good data concerning corporate linkages, including minority shareholdings, the data only goes to the subsidiary level.  But companies may have hundreds of operating locations not listed.  In the US, vendors capture all of these branch locations, but this intelligence is more limited in the UK.

Another problem with this regime is there is little focus on who is managing the organization.  While a few directors are listed, they may not be the people the sales rep will be calling into.  Thus, the sales intelligence vendors have been working to tie in marketing datasets which provide additional color (British translation: colour) including mid-level managers with emails, URLs, and phone numbers.

Finally, one is more likely to have turnover figures (US translation: revenue) in the UK than in the US.  Conversely, US vendors are more likely to have employee figures and modeled revenue figures.  As a result, the employee count is a better sizing metric when prospecting in the US and turnover is the superior prospecting metric in the UK.

I am currently working on the next edition of my Field Guide for Sales Intelligence Vendors.  One of the key additions to this year’s edition is the inclusion of three UK vendors: Artesian Solutions, Bureau van Dijk, and DueDilAvention, which also offers a strong UK product, was previously included.  The new edition will be available before the end of this year.  I am now taking pre-orders for the expanded guide with purchasers receiving the 2015 edition at no charge.