Propulsion 2020 Opening Keynote - Product Success Delivered

Transcript

[DISCLAIMER] The following transcript is being delivered UNEDITED via a streaming service. This transcript has not been proofread. It is a draft transcript, NOT a certified transcript. It may contain computer-generated mistranslations and spelling errors.

Introduction: Be’Anka Ashaolu, Director of Marketing, Propel

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Be’Anka Ashaolu: Hello.

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BA: Thank you all for joining Propels inaugural event Propulsion 2020

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BA: I'm the Marketing Director and Propel and your host and emcee for the next three half days. We're excited. You can be here with us today.

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BA: Propulsion 2020 features, some of the leading others are pre recorded and all of them will be worth attending

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BA: Today's session will feature market leaders, including behind CEO and co founder Propelled Geoffrey Moore speaker advisor and best selling author of Crossing the Chasm and Zone to Win

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BA: Bruce Melman leader and co founder of a bipartisan lobbying firm that advises on political and economic policy. Lee Hawkins news editor and education reporter for The Wall Street Journal and author of an upcoming book about his family history.

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BA: Chief Investment Officer Parnassus and investment advisors large cap asset manager of the year and Tiffani Bova, global customer growth and innovation evangelist at Salesforce and best selling author of Growth IQ.

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BA: Day two is all about digital strategies of how they successfully navigated the unpredictable business environment and 2020

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BA: The day kicks off with a rapid fire session featuring September Higham VP of professional services of Propel and Bruce Richardson chief enterprise strategy officer of Salesforce.

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BA: Then we will break out into tracks for manufacturing and health and life sciences with 15 different Propel customers sharing initial strategy and insights that are helping them drive in 2020

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BA: After that we’ll present our demo champ leaders and wrap up with the roadmap review for customers.

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BA: Our third and final day, our customer only tech day led by our fantastic and hardworking development team.

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BA: Will get a sneak peek into Propel labs, real world advice for extending Propel and a chance to ask us almost anything.

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BA: We're just moments away from CEO Ray Hein’s opening keynote, a real dive into the biggest trends impacting our industry and how successful companies.

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BA: During the year of unprecedented changes, just a quick reminder for posting 2020 starts at 8am Pacific each day and runs until noon.

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BA: All of our open sessions are being recorded and will be available on demand after the event.

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BA: Also a Q & A option is available in the chat box on your screen. During each session. So please submit questions as you have them and we'll follow up on any questions that can't be answered live. Thank you again for joining Propulsion 2020. Let's get started. Over to you, Ray.

Keynote with Ray Hein, CEO and Founder of Propel

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Ray Hein: Welcome to our very first Propulsion. I'm so honored to be leading Propel and bring this event to you, with the support of so many others. We put together an impressive agenda and this morning. We're super excited to share the wisdom.

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RH: Of so many departments at first, and they're

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RH: All also proud to share the stage with many, many industry leaders about Propulsion in the context of the next few days.

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RH: After the kind of Propulsion within the manufacturing sector, it's been what we've been doing. It's what Propels all about

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RH: It is really why you are here is customers, partners, investors and industry luminaries together. We're all about moving things forward Propelling things forward, if you will.

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RH: But before we get started, you may want to know what's in a name really what's in the name of Propel and why we named our company Propel almost six years ago, a few of us had an aha moment and we decided we wanted to start a new company start a new company in the PLS category.

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RH: We wanted to innovate on the old feeling category and focus on new ways of doing business wanted to extend the definition

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RH: Need business and customers.

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RH: And our mission from day one in our focus became Propelling innovation and Propelling business outcomes. Hence we named our company Propel

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RH: So it only seemed logical that we would name this event, our customer and partner conference Propulsion and here we are. Welcome to our very first ever Propulsion. It's a big milestone for pal and really for our industry. Not only is it our first ever is our first virtual Propulsion.

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RH: Unlike many things in 2020 it's a first ever during a pandemic. Certainly, we can't ignore the fact the reason we're doing this in this way, virtually as opposed to sitting next to each other is completely do decoded

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RH: Been so many first for Propel this year and for our customers to we've all learned a great deal, and we can't wait to share more about these first with each other over the next few days. But first,

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RH: I'd like to say a big thank you to our partners and, in particular, I want to thank our group partner.

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RH: Or

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RH: To be honest, I didn't thank all of our customers, speakers, investors and employees to all of you, our attendees. I know your time is precious. And I believe your time over the next three days will be well spent and a personal promise for me.

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RH: That it'll be insightful and very valuable for you.

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RH: Over the next three days you'll hear from 15 different customers from seven thought provoking.

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RH: Speakers and a number of Propelling employees that we affectionately call Propeller heads.

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RH: Thanks to all of you for your support from a Propulsion 2020 reality and

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RH: Especially for your support to Propel during these past five years. And in these uncertain times and additional big shout out to our partners who have joined us as well. We're honored to be working together to build an ecosystem and a value chain that is very, very unique for our industry.

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RH: So let's shift and talk about some of the themes for Propulsion. The overarching theme for the next three days is all about growth and acceleration

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RH: You're going to hear from many of the speakers that are addressing these two business objectives and of course digital transformation is another theme as well.

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RH: Digital Transformation is tied to and really implies creating the capacity for acceleration and growth.

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RH: And in today's world now more than ever. There's a lot of talk about business resiliency and it's spanning all the way from employees to C suite executives from investors to boards of directors.

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RH: being responsive and resilient our key to winning in today's competitive market growth and acceleration beyond business resilience and our speakers and customers will show that

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RH: Over the next few days, we want to move you along your transformational journey by providing you with even more knowledge and power to achieve growth and acceleration

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RH: Our agenda is focused on knowledge sharing in days one into with a great lineup of thought leaders and experts as well as our customers.

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RH: Then we'll focus on the power. You can harness and unleash for your organization which comes from our platform. And we're covering that on days, two days three. So let's get started.

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RH: Over the course of the next few days you're going to hear more and more about the age of the customer. It's a very different approach to peel them when you shift your thinking about going from left to right from engineering manufacturing and supply chain to thinking

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RH: from right to left, starting with the customer first. It's an outside in versus inside out thinking we add Propel absolutely believe that putting the customer at the center of everything matters the most.

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RH: winds of change have been hard to ignore over the past six months, but we actually entered the age of the customer long before coded

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RH: Geoffrey Moore is going to talk a lot about that later today actually following me in the next session and in the New Age.

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RH: The world was already changing and it was changed from manufacturers who built systems for the industrial product era.

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RH: They have to make a shift based on the new dynamics that we were see. So let's talk about some of the changes we've seen over the past few years, it doesn't matter whether you sell in a B2B or B2C or B2B B2C or direct to consumer. There's been changing

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RH: who the customer is has been changing

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RH: Their new demographics I shift in buying power towards women.

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RH: Millennials Gen Z buyers and different customers by and where they buy has also changed.

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RH: Companies need to figure out how to deal with multiple go to market selling strategies omni channel multi tier distribution models, an increase in e commerce strategies.

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RH: SAS and products as a service, or just to name a few. Like customers by have also changed customers have many more options now so loyalty is key.

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RH: Customer Service has become key buying criteria and rich community data influences buying decisions, allowing us to research, much earlier and review products before prior to buy

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RH: And they were radically different expectations for customer experience. There's been a dramatic shift in this area influenced greatly by the shift in that buyer.

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RH: You're connected products and having better product outcomes millennials and Gen X buyers have radically different buyer and customer expectations based on their digital first or digital only life experiences.

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RH: Another big change in the age of the customer is how innovation cycles continue to accelerate innovation is never going to stop.

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RH: It continues to see a compression that I referred to as the slinky model. It's really where cycles accelerate faster and faster. And there's a compression

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RH: And that's going to happen for our so to that end, we see the following changes in the market, we see companies embracing cloud first business models to help drive their innovation faster globally.

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RH: We see organizations and processes being redefined around customer for more customer centric innovation.

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RH: A new group of executives in fact are now accountable for product success. We'll talk more about that later.

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RH: We're seeing the increase in emerging companies that accelerate r&d in key innovation areas that alternately them to either being bought through m&a or even having the opportunity to go public, to IPOs customers like desktop metal and hero come to my, for instance.

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RH: We're also seeing spin out

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RH: For these to harness innovation.

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RH: Companies like advanced sterilization products and you're going to hear from the CIO VP of quality race tomorrow about their spit out from Johnson and Johnson are redefining and transforming their whole company.

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RH: Engineering ordering designer cycle time pressures with pressures to drive more design wins with increase margins with more or less people

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RH: Direct to consumer business models like year ago, bringing a customer closer and changing the way they develop and sell their products is a massive new way of launching in releasing high margin successful products.

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RH: net net with the change in the customer profile in innovation cycles accelerating across multiple industries and business models, we see that creating commercializing and servicing successful products across the business value chain demands a very different type of solution.

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RH: There's a new group of executives that are accountable for product success that includes the chief product officer, the chief revenue officer and the chief service officer or maybe a customer success officer, they must be in lockstep knee.

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RH: And

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RH: Markets, the customer and the market needs, given the shift. We believe that a customer centric solution is the only way to drive your success going forward.

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RH: In this new age accelerating innovation and driving revenue growth requires delighting customers period new digital processes that foster deep collaboration across first century shift.

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RH: The old legacy systems of PM PM and standalone to Ms systems, just don't need today's business needs. They were go 15 to 20 years ago and they were built being engineering centric.

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RH: Those older solutions can work for some industries like planes, trains, and automobiles and have longer product life cycles and don't require a customer first or customer centric approach.

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RH: But they're never going to meet the needs of today's companies who need a unified customer experience that works at the speed of innovation.

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RH: And with the ability to respond and change to market in changing business models. Why, because they were never built that way to deliver that

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RH: bolting on some new customer features to engineering centric solution makes for good marketing claims, but it doesn't actually deliver on the promise and the benefits of a customer centric product solution. The customer centric focus is completely ingrained in Propels DNA.

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RH: And a prior life law focusing on selling to customers through configure price quote systems. I had the foresight and we decided to start Propel

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RH: We did that by prioritizing our solution and thinking about the problem very differently. We decided that we wanted to be the company like market leaders like Salesforce workday and Cooper, who embraced the shift to customers.

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RH: By focusing on usability customer adoption and then changing from legacy and non Prem systems to cloud based best to breed solutions with a fresh approach was the way away so Propel and our Propeller heads in the last five years have emerged built on the power of Salesforce.

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RH: I often get asked a lot, why Salesforce why I chose that platform. There are two primary reasons one first because they know more about the customer than anybody else in a customer product centric solution would only be valuable. If I built it on a customer base platform.

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RH: So that and Salesforce customer 360 approach represents a long term commitment to developing the most comprehensive view of customers across every industry and second

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RH: By building Propel on the Salesforce platform we needed we integrate with their 360 view of the customer and extend his customer centricity two or 360 view of products and processes.

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RH: So by connecting the two together products and customers. It's a very different way of approaching product success and ensuring that your products will drive high value high margins and will continue to be market leaders.

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RH: Since no other platform can match Salesforce knowledge of the customer. They'll either product platform can match Propels ability to deliver the promise of a customer centric product solution.

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RH: Earlier I mentioned that there's a new group of executives that are being held accountable for product success.

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RH: When you think about bringing folks together to drive improvements in the value chain, you need a chief revenue officer a chief product officer and the chief Services Officer.

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RH: They all need to work in concert. They all need to have that shared 360 view of what's going on with the product at all times. And if they do, they can drive real value across their organizations and across the whole value chain really the business value chain.

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RH: This enormous value then in a unified platform enables contextual collaboration that brings product revenue and services teams together in ways that have never been able to be done before.

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RH: That's what we're doing. We're bringing together this new trend of collaboration and demonstrating true value in each of these areas.

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RH: Shown here, you can see that in addition to adding value to the traditional areas in a manufacturing company Propel drives business benefits for these new executives and the real value that can be quantified and close to the bottom line of a company

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RH: So, what's in it for those those executives that are being held accountable for the chief product officer, ensuring that they can accelerate new product time to market.

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RH: That they can increase profit margins and then they can decrease costs is key to the chief revenue officer winning more deals more profitably.

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RH: And having more design wins and growing market share is key. I see Services Officer, being able to resolve customer complaints faster and being customer first responsive is key from a brand loyalty perspective there by improving customer retention and repeat purchases

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RH: We've established that there's not only a need for a customer centric solution, but then it drives real business value.

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RH: Given this new environment. We've also seen that those who had already adapted had already begun their transformation are much better prepared for business disruption likely seeing this year in 2020 with coven 19

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RH: Salesforce is new work.com platform highlighted three different stages. They pointed out that the better prepared companies needed through these stages quickly.

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RH: Our customers could already responded and built this into their customer first approach by bringing everybody together.

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RH: Had a level of readiness which minimise code is disruption to their business operations and supply chains.

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RH: So you're not going to hear many of them, focusing on code. And that's precisely the point. Instead what they're focusing on is long term growth.

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RH: Something, you'll also hear later from Tiffany boba, as she speaks behind my session later this morning coven is simply one of the challenges that companies are navigating the ones that are the best have already moved from stabilized and reopen back into a growth mode.

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RH: They're using a flexible comprehensive customer centric platform to allow them to grow long term revenue. It's become their foundation to build in the resiliency that they need to rebound from unforeseen challenges. So today is coded

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RH: It could be something completely different. Tomorrow, we don't know. Are you prepared,

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RH: Stay

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RH: Vast we're sharing her recent industry viewpoint from the Kinsey that's discussing five themes that they feel will shape post covert 19 recovery.

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RH: Efforts in business operations. We think this aligns well with what we're already seeing from our customers and and then stayed on the offensive and are growing during these trying times

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RH: But for others, that still need help, because these things are building operations resilience accelerating and and digitization

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RH: Reducing capital and op X transparency driving the future work reimagining a sustainable operations to drive competitive advantage.

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RH: We can apply all these themes to any significant disruption of which we've seen many in the past. And of course, we'll see others in the future.

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RH: we've highlighted some of the sub themes that McKinsey points out, and we believe that are better position our customers for the disruption and the recovery and how and where Propel has helped them. So let me take you through some of the examples of those customers now.

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RH: In the area of building business operations resilience companies with a supply chain risk and supply chain risk management function are going to excel and be more likely to succeed during challenging times companies like our customer drink corks, who's a joint venture between

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RH: Me and

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RH: Makes an adult beverage maker and Vizio who's in a highly competitive TV market.

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RH: Need to be thinking about their digital transformation and have been thinking about their digital transformation by leveraging Propel to help them manage through there and you'll hear from both of those leaders from both VIZIO AND FROM DreamWorks tomorrow.

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RH: Entering seller rating and and digitization. There are companies like desktop metal with their industry leading industry for nine oh printers.

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RH: That they're using a new selling model is print as a service, and also a year ago, again, who makes direct to consumer hearing aids come to mind.

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RH: These companies have accelerated their go to market initiatives, a build out their organizations for his dance tea and strength and are really putting the customer first and the way they thought about commercializing products, all the way from concept of customer

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RH: And other thing that McKinsey points out is driving the future of work, establishing the next new normal remote working to digital communication and collaboration tools.

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RH: I've talked about the need and the requirement for contextual collaboration is being core. There are many ad hoc collaboration and structured collaboration tools.

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RH: But none really put it into a context of product and product 360 which is really a product business context that has processes like Propel

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RH: So having the ability to work through digital collaboration. You'll hear companies like can tell, and simply save who brought their workforces together.

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RH: And have been able to thrive and communicate and collaborate, even through this downturn and establishing work from home environments. In fact, simply save purchase Propel

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RH: Brought it into their environment went through an entire implementation train their employees and a Taiwanese contract manufacturer. Hundred percent during code and 100% remote. What a great proof point of how the cloud changes everything and helps minimize business disruption.

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RH: Another key theme from McKinsey shaping postcode recovery is the reimagine a sustainable operations in a competitive advantage.

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RH: Specifically, creating a step change and customer centric development of products, services and customer service models serve a company well beyond a disruption like Kobe.

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RH: Great example is a customer called Colt. They make mattress commoners for large brands, one of which have their, their customers wanted to launch and sell

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RH: A new mattress cover, pp. And it was needed and developed rapidly in response to code the demand was needed and fast delivery was important to safety.

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RH: So recently we spoke with called and they share that Propel allow them to put them into overdrive in terms of going from concept to creation and getting this in the hands of their end customer

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RH: They went from first samples to production in 10 days which they told us was unheard of in our company, you'll see parts of Culp's solution tomorrow if you join us for tomorrow's demo jam also good to see

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RH: Today, oh great medical device company that is creating a home health test product for flew all to accelerate their time from our end to commercialization and the CEO will absolutely tell you that without Propel it would have been able to do that.

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RH: Lastly, in Mackenzie's view and in Propels customers. We have companies that have established collaborative ecosystems and rewritten value creation roles relative to their suppliers.

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RH: And there Jason players really their whole value chain.

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RH: Is in his email address are great examples of this. They are both companies that reimagine their businesses in the creation of new business entities outside of their parent companies Johnson and Johnson and Pfizer, respectively. When spread out of Johnson and Johnson.

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RH: Sp started with a white sheet of paper and reimagined their digital transformation for a unified platform that was sort of their organization and business as a group globally.

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RH: Am I doing that they really retire dozens of legacy systems. Along the way, you'll hear a lot about that from Johnson live tomorrow. So what is, who's the largest medical device and pharma company in the veterinary science and protein supply chain here.

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RH: The upswing in family pet starting coded is driving tremendous growth Brazil at us and they're deploying and implementing Propel who will help them support their global enterprise and growth across both business areas of Pharma and medical device.

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RH: So where are you on your transformation journey. Are you disruption proof.

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RH: Customers just mention all Propel themselves right through the challenges of 2020 and we believe are coming out on the other side stronger and poised for growth, you'll see and hear more about that later in thought leader sessions on it and also in the customer sessions tomorrow.

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RH: To the focus on business value chain and customer first our customers are true examples of what we and others have turned the digital haves and the digital have nots.

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RH: So like these previous examples, the companies that we believe will succeed need to leverage and embrace change and acceleration as part of their business resilient strategy for long term competitive advantage.

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RH: By embracing it not out of fear or reaction to unforeseen circumstances, their ability to accelerate and adapt to change internally gets them closer to resilience

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RH: But then taking that flexibility, their supply chain gets further. And then finally, if you incorporate your customers tightly in a whole business value chain, it gets them to the ultimate business resiliency.

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RH: A true customer product centric solution. So from design to make and market, all the way to customer this ability to respond to new and different customer demands or drive top line revenue growth.

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RH: And it also helps him, manage and handle global threads like Kobe, and the next business challenges that they'll be faced with

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RH: One of our upcoming speakers Todd Austin recently explained us the concept of the case shape recovery from an economic perspective.

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RH: You might have heard a bit about that. A few weeks ago in a recent presidential debate time will explain this and cover it in much more depth later this morning.

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RH: But at a high level, this scenario sees a portion of the economy growing aggressively as we've seen in action for some of our customers and then a portion that continues to decline. And sadly, some of these industry segments may never come back.

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RH: But we see the same divergence within specific industries. Only in this case is driven by where a company is investing on a digital transformation journey.

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RH: They are what we call the digital haves and it's the top part of the k and the digital have nots, or the lower part of the K

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RH: Is usable has are using technology and investing. Now, to understand how a customer needs have changed to find new suppliers.

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RH: establish new distribution channels setting up collaboration and new processes across the entire company.

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RH: To ensure that the new product introduction teams product launch teams and go to market teams are all on the same page.

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RH: We have great examples of digital as in our Propel customers and tomorrow, you're going to see them across many industries like consumer goods companies.

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RH: Industrial manufacturers high tech companies medical and pharmaceutical companies or companies with unique business models have custom engineered products and distributors.

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RH: And then we've got sessions with breakout companies that have evolved from small to medium companies and then it accelerated their businesses faster than ever before.

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RH: You'll hear from CEOs CIOs VP of operations to supply chain heads of engineering and Rd heads of quality and regulation for medical device and other regulated industries.

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RH: I'm sure it is great lineup, you will find people like you to learn from and a business scenario or situation or business use case which you can relate to.

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RH: These customer speakers share the Propels believe that the customer should be the focus of every successful product strategy, again, a customer first approach.

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RH: Deal here familiar sentiments from the experts presenting after me today folks like industry luminaries that we brought together.

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RH: Are going to share topics around economics and investment perspectives. A human capital and organization perspective.

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RH: A customer centric perspective and certainly to political perspective and how all of these impact our businesses as leaders of change is our hope that you will continue on your transformation journey with these perspectives in mind.

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RH: There is a new digital imperative to achieve success in the market for your products, it builds on the transformation that first occurred with CRM and CSM

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RH: And now with a new focus on customer centric products through the creation commercialization and servicing processes and products, it changes the game.

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RH: we've highlighted a new organizational focus by bringing the triad of the CFO CEO and CFO together to collaborate and deliver on products access to the customer, as well.

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RH: I hope you feel and see the same implications of the shift to that customer centricity are clear customer experience matters.

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RH: New selling processes like omni channel go to market and new revenue models requires rapid response to change, allowing customers to drive innovation and new product ideas enhances your revenue opportunities and gain market share.

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RH: Propels customer centric framework moves P LM from a category that was originally all about just saving money and engineering manufacturing efficiency.

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RH: To a category that takes it from there. All the way to a category that's all about making money. It's not just what our products deliver. It's what we as a company believe it's just the right thing for business.

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RH: In summary, I want to reiterate that by starting with a fresh approach to product success which we've done in the last five and six years, built on a tremendous developer platform with hundreds of years of

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RH: Enterprise quality management systems and manufacturing and industry expertise by fellow Propeller heads and me have created Propel to fulfill a promise that had never been delivered until now promises like

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RH: Empowering and enabling customer centric product development and commercialization with product success all built on the same platform, bringing the whole value chain together.

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RH: With creator markets here thanks to products that are designed with comprehensive feedback that are gain and gathered from multiple customer touch points.

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RH: Driving more customer business wins at higher margins. Thanks to automated real time information flow and collaboration between sales, marketing and engineering.

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RH: And then greater customer satisfaction. Thanks, a unified experience across sales and service products teams.

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RH: And finally creator employee satisfaction for our users, thanks to a modern solution that saves time, easy to use and as easy to learn.

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RH: If you truly believe in the value of putting customers at the center of your product life cycle then you believe in what we believe in the value of what Propels delivering today.

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RH: We are

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RH: And again, thanks to our sponsors and partners and thanks to you for making this such a great event. I hope you enjoy the rest of the sessions Propulsion.

Propulsion 2020 Opening Keynote - Product Success Delivered

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