Monthly Archives: September 2017

SuiteConnect at OpenWorld Offers a Little Something for Everyone

Posted by Barney Beal, Director of Content

After more than 17 years of building a system on which to run a business in the cloud, NetSuite has a unique and intimate view of the way business is run across fast growing companies in all industries. It serves product-based businesses, services businesses and those that are a combination of both. In fact, NetSuite now counts at least one customer in all 1540 Standard Industrial Classification (SIC) codes.

The insights that NetSuite gains from helping companies run and transform their business goes into every software update, new product launch and customer engagement. It also goes into events.

The acquisition of NetSuite by Oracle not only made NetSuite a part of Oracle but a part of OpenWorld, Oracle’s annual conference in San Francisco. NetSuite will hold its own SuiteConnect event in San Francisco in conjunction with OpenWorld on Oct. 3-4. NetSuite will take part in a keynote on the main stage at the Moscone Convention Center with Oracle CEO Mark Hurd, and NetSuite Executive Vice President of Development Evan Goldberg. In addition to keynote addresses, NetSuite will be sharing some of its insights for fast growing businesses across verticals at 12 breakout sessions held at the nearby San Francisco Marriott. There’s a little something for everyone.

suiteconnect fb 820x312 SuiteConnect at OpenWorld Offers a Little Something for Everyone

Breakout Sessions for Product-Based, Software and Services Organizations

NetSuite will be sharing its SuiteSuccess model, including customers detailing how they have integrated, enhanced, and streamlined every facet of their business with NetSuite and how it fits in their overall Oracle landscape.

For product-based businesses, managing a global supply chain is incredibly complex and requires information to be gathered, analyzed, transformed and intelligently re-distributed quickly and easily. Current customers will share how they are using NetSuite to drive the global expansion of their businesses with minimal additional overhead.

SuiteConnect will also offer an opportunity for product-based businesses to learn about how best to leverage NetSuite’s SuiteCommerce Advanced (SCA) solution for B2B ecommerce and how to get their business up and running on SCA in 30 days.

Two of the most common discussions in business today are the new ASC 606 Revenue Recognition standard and the desire to move to (or include) subscriptions as part of any monetization strategy. The key to a successful business system supporting both of these needs is the acknowledgement that they are, in reality, part of a single process. NetSuite’s Subscription Billing and Advanced Revenue Management solutions were each built to be world class in their own right – but they were actually built from the ground up, in unison, designed to work seamlessly together. NetSuite will share best practices for revving up the revenue management engine.

Additionally, the move to the subscription economy is having a profound effect on software companies as businesses shift from one-time sales to recurring subscriptions. Many businesses that sell products or services through traditional sales-order-to-invoice selling models are now transitioning to selling partly or completely through recurring subscriptions. At SuiteConnect, NetSuite billing experts will outline how these “hybrid” models will change the way organizations do business and what companies are doing to embrace the shift.

Breakout sessions for Prospective, Existing Customers

As NetSuite continues to expand and enhance its software, new products and functionality emerge. SuiteConnect offers a unique opportunity for prospective customers, or existing customers who have not yet had the chance, to evaluate how some of these new solutions fit into their business.

  • Flexible Planning and Budgeting. SuiteConnect is one of the first opportunities to learn about a new offering that can supercharge the planning and budgeting processes.
  • People Management. Managing people and their data shouldn’t be difficult – Microsoft Excel, paper, email – are all great tools but terrible HR solutions. SuitePeople allows customers to easily and intuitively track and manage their employees. NetSuite will demonstrate the latest capabilities of SuitePeople at the event.
  • Unlocking a Company’s Growth Potential. Many organizations have the business strategy, the vision and the right resources — all the right ingredients to run a profitable and successful business. All they need is a solution that lets you handle every business process and executes from one system; accounting, human resources, ecommerce, sales and marketing, product development, manufacturing. At SuiteConnect a customer will share how they have integrated, enhanced, and streamlined every facet of their business with NetSuite.

To learn how these insights can benefit your business register for SuiteConnect now. For additional details on SuiteConnect session, download the SuiteConnect mobile app here Don’t miss this opportunity to learn how to own your next.

Posted on Fri, September 29, 2017
by NetSuite filed under

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Selling Solutions: The Rise Of The Outcome-Based Economy

The title of this post was inspired by the 1996 documentary “When We Were Kings,” about the heavyweight fight of 1974 between two boxing legends, Muhammad Ali and George Foreman. In the not-so-distant future, it will also be a fitting phrase for many in the banking and insurance industries.

Readers may ask why I am talking about banking and insurance in such doomsday terms. My bleak forecast does not stem from the notion behind the common fintech (financial technology) and insurtech (insurance technology) industry pitch that they will change their respective industries with innovation and better customer experiences, although I firmly believe that some of the startups will cause significant pain to the incumbents and will indeed change their respective industries. One day, some of the existing and as-yet-unlaunched fintech and insurtech companies will also become incumbents that other startups aim to disrupt.

The real threat to the financial industry will come from a radical approach to penetrate the financial market—an approach that I believe has not yet been addressed or even conceived by the competition. The emphasis is clearly on “yet.”

What is this new concept? It is simply this: offering financial services at or below cost. I have mooted this idea at many think tank events, and I thought I should write it down to share it more broadly. It is, and should be, a terrifying thought for many, and I strongly believe this approach will be implemented in the near future. It will bring many of the incumbents to their knees, unless they prepare for what is to come by investing in technology and adapting radical business models.

People talk about the limited impact of fintech and insurtech on the incumbent business model. I must agree that at this point many startups have little influence, if you look only at the customers they have taken away from incumbents. What the startups are already doing, however, is forcing many incumbents to lower their fees to better match what the smaller players offer to their clients.

Moreover, startups have also changed customers’ expectations of the user experience. Startups will also use artificial intelligence and machine learning to compete against the established financial players that have more resources—such as money, data and clients—at hand to compete. There is no way around investing in AI and machine learning to compete successfully against tech-savvy competitors. Many startups and large companies already use machine learning algorithms to build better credit risk models, predict bad loans, detect fraud, anticipate financial market behavior, improve customer relationship management, and provide more customized services to their clients. Arguably, the biggest effect of startups is that they continuously put pressure on incumbent profit margins. Startups will continue to try to change the status quo because they smell blood in the incumbent water.

The real and biggest threat to incumbents will likely originate from tech giants, such as Amazon, Apple and Facebook, and other big non-tech companies that have large customer and employee bases. These organizations will use their customers and employees to sell banking and insurance solutions, and the big financial institutions will become at best dumb pipes. The technical approaches to doing business within the fintech and insurtech industries may provide some of the tools tech giants and other large companies need to execute this strategy.

I know some readers will say that regulators will stop any attempt by non-traditional players to provide many banking and insurance services. However, I do not think regulators can or will stop the new competitors, because these companies will either obtain the necessary licenses to operate or have a bank or insurer provide third-party financial services to them. This strategy is not unlike the way some fintech challenger banks use the licenses of an existing bank to operate.

Why should we expect this scenario of financial industry disruption to happen? In our case, we all seem to agree that the tech giants are the ones to fear because of the Big Data platform and technology knowledge they possess. In addition, tech giants have several advantages, such as the trust factor and the constant interaction with satisfied customers. Furthermore, studies have shown that millennials would prefer to bank with tech giants such as Amazon, Facebook, or Google than with the existing banking players. And last but not least are the tech giants and startups that keep setting the bar higher for exceptional customer experience (for instance Apple’s simplicity or Amazon’s instant gratification) and shape the client behavior and expectations, not the incumbents.

All that speaks to tech giants’ favorable circumstances as serious competitors that are not yet ready to come in at full speed and hit the financial industry broadly, but it does not point to the need to fear an extreme disruption as I projected. I do not believe we will see those tech giants providing whole-spectrum financial services anytime soon, but they have the potential to offer services in certain segments, such as providing payment, lending, or insurance options for their customers and employees.

What is terrifying to imagine is a situation in which tech giants or other big companies provide financial service solutions at or below production costs. No, that is not a typo; I mean providing financial services for nothing—for free.

If we take this scenario to its extreme—that is, selling banking or insurance services for nothing (yes, for zero pounds, euros, dollars, or renminbi)—then we have a situation in which financial institutions in their present forms will die or be reduced to shadows of their current selves.

That can and will happen, and here’s why: Large companies could do exactly that—sell at or below cost—to win or keep customers. The new competitors would not need to earn money and could even afford to lose money in offering financial solutions if these features entice customers and new potential clients to use the companies’ core offerings. Remember that Facebook, for instance, earns the biggest portion of their profits through advertising because they have created a great platform through which people love to interact. Financial solutions would be just another great offering (especially if they are offered for free) to entice many people to join the tech giants’ ecosystems.

Alternatively, car companies such as GM could provide their employees and customers with very cheap or no-cost (no cost to customers, at cost for the company) banking or insurance solutions. Don’t forget that banking and insurance solutions can be provided at very little cost as white-label services from third parties that already have all the necessary licenses, technology and infrastructure.

All is not lost for banks and insurers, but it will be very hard for them to compete against savvy tech giants on their technological home turf. The financial industry must think fast to find ways to compete before their business oxygen runs out.

One solution that banks and insurers should pursue aggressively is to embrace the fintech and insurtech industries for their innovative business spirit and fast, direct execution approach to new ideas. That means financial institutions should buy what they can or partner with startups to make up for all the shortcomings that legacy brings. Size and regulation will not be enough to protect incumbent financial institutions against new competitors, as we have seen in many other industries.

Another idea might be for financial institutions to place advertisements on their websites or apps to compensate for loss of profit margins. I do not think this is the only solution, but financial institutions must innovate beyond their core areas of expertise and standard industry practices. Why do you think Amazon, Uber, and Airbnb have been so successful at disrupting their industries? Because they thought and acted as if they had nothing to lose and everything to gain.

The “at or below cost” approach to financial service solutions is not a far-fetched scenario for tech giants and other companies that are trying to find new ways to attract and keep clients. The banking and insurance industries must at least get very comfortable with the idea that low-cost or free financial services are coming.

A tsunami is often unnoticed in the open sea, but once it approaches the shore, it causes the sea to rise in a massive, devastating wave. The financial industry needs to determine if the threat by tech giants and non-tech companies is a small wave or a tsunami and prepare accordingly. My recommendation to all financial institutions is this: You’d better prepare for a tsunami, even if all you see is a small wave on the horizon.

Read more in my new white paper “Machine Learning in Financial Services: Changing the Rules of the Game.”

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Inside Act-On: Preparing for GDPR Compliance

Inside Act On i heart marketing Customer User Conference Recap 351x200 Inside Act On: Preparing for GDPR Compliance

We recently checked in with David to see how Act-On itself was getting prepared for being compliant.

“We’re on second base,” he said, but added there is work to be done to get to home plate.

He said Act-On began working about a year ago for the GDPR adoption. So far, that work has included:

  • completed a thorough third-party assessment of our preparedness for the GDPR;
  • completed employee training and awareness on the GDPR;
  • assessed our product and functionalities for possible GDPR enhancements; and,
  • proactively worked with industry, clients and partners to support GDPR awareness.

GDPR is a massive piece of legislation, and it touches all parts of a company from accounting to marketing to legal and even HR. For Act-On, we also have to ensure our product doesn’t hinder our customers from being compliant. We also have to make sure our third-party vendors that we use (such as our video hosting platform) would be compliant, which has come up as we renewed contracts.

NOTE: Act-On does not provide legal guidance for any compliance obligations. But David did write a blog post in July about what you need to know about GDPR. You can also access the European Union’s GDPR website.

Next Steps

Act-On is producing webinars and datasheets and other content about GDPR throughout the year. You can also email David if you have a question: We’ve prepared a handy GDPR checklist in order to help you get started on becoming completely GDPR compliant.

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Currency conversion in DAX for Power BI and SSAS

Another interesting question that came up recently is how to do currency conversion in Power BI. My colleague Jeffrey Wang had a very neat solution that I want to share more broadly.

Imagine you have sales in 3 different currencies happening on different dates:

 Currency conversion in DAX for Power BI and SSAS

Now when you are doing reporting you want to report them all in a single currency. So the first thing we need is to get a table with conversion rates for each date for each currency:

 Currency conversion in DAX for Power BI and SSAS

Next we need to model this so in the report we can choose which currency we want to report on and then automatically apply the right conversion rate. The model looks like this:

 Currency conversion in DAX for Power BI and SSAS

Both the Sales and the Exchange rate table are fact tables so we need to create 3 dimension tables to tie them together. I use calculated tables to create them as the data is already there:

ExchangeDate = Distinct(FactExchangeRate[Date]).

ReportCurrency = Distinct(FactExchangeRate[ReportCurrency])

TransactionCurrency = Distinct(FactExchangeRate[TransactionCurrency])

The ReportCurrency table will be used to create the slicer in the report that allows us to select the currency. The other 2 tables will allow us to get the correct Exchange rate for the each sales transaction using date and currency. This means that for each row in the factsales tables we filter down to 3 rows in the FactExchangerate table based on the date and currency relationship. Now based on the ReportCurrency slicer we filter it down to a single row thus leaving us with the Exchange rate we need.  The problem here of course is that we need to do this on the fly because for each day we might have transactions using multiple currencies so we need to take that into account.

We can do that using DAX, I start with getting the factor to calculate the exchange rate:

TrnExchangeRate = Min(FactExchangeRate[Factor])

This will get the lowest factor value from the fact table.

Now to calculate the sales per transaction I will use SUMX to achieve this:

TotalSales = if(HASONEVALUE(ReportCurrency[ReportCurrency]),
SumX( FactSales, [Sales] *                                                                                                                                        [TrnExchangeRate]))

This DAX expression will summarize (SUMX)  each row in the FactSales table (that is in the current selection) . For each row it will use the value from the sales column times the Exchange rate returned from the TrnExchangeRate measure. The SUMX is key to get the right numbers, it will iterate over the rows in the fact table dynamically and summarize the results into a single number (currency). Again this is key as each row might be a different currency on a different date and the relationships will make sure only a single value will get returned from the FactExchangeRate.

Putting them all together it allows me to build a report like this:

 Currency conversion in DAX for Power BI and SSAS

As you can see the 100 Euro’s get translated to 117.44 USD where the USD amounts stay the same. So a clever combination of the model and some DAX will get you currency conversion. Also the grand total is showing the one USD sales number.  Unfortunately there is dynamic formatting yet in Power BI to apply the format on the fly as well.

You can download the sample file here.

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Practice makes perfect

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About Krisgo

I’m a mom, that has worn many different hats in this life; from scout leader, camp craft teacher, parents group president, colorguard coach, member of the community band, stay-at-home-mom to full time worker, I’ve done it all– almost! I still love learning new things, especially creating and cooking. Most of all I love to laugh! Thanks for visiting – come back soon icon smile Practice makes perfect

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Deep Fried Bits

HTC To Sell Mobile Phone Assets To Google For USD1.1 Billion

Taiwanese smartphone maker HTC has signed an agreement with Alphabet subsidiary Google to sell some of its mobile phone businesses to the latter for USD1.1 billion.

With this transaction, HTC’s nearly 2,000 employees who worked with the company on its Pixel smartphone will join Google. Meanwhile, HTC will provide non-exclusive licenses to some of its intellectual properties to Google.

Cher Wang, chairman of HTC, said that HTC has been the best promoter for Google’s Android market expansion. With this new acquisition agreement, the two parties will further enhance their long-term stable partnership, which will not only inject strong innovative research and development into Google’s hardware business, but also will ensure HTC’s continuous innovation in smartphone and VR sectors.

It is said that the acquisition does not involve factory transfer. In addition, HTC’s chief financial officer Peter Shen revealed at a press conference that except for those employees who will transfer to Google, HTC currently does not have any layoff plan.

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New Product — SharePoint Connector to Dynamics 365

We are excited to release SP2CRM Connector, an additional product in serious of tools aiming to improve Dynamics CRM integration with SharePoint.

With SP2CRM Connector, Lists in SharePoint are created and synchronized with records of CRM entities. Users can configure up to 10 attributes from any CRM entity, as well as applying CRM View, to filter just the required records to be sync with the SharePoint List.

SP2CRM connector helps organizing CRM documents in SharePoint. When Documents are uploaded to SharePoint with metadata, with tools like Dynamics SharePoint Organizer (SPO), a selected lookup column is customized to link to the corresponding field in SharePoint synchronized with CRM records.

Consider this scenario. Service Contracts are uploaded to SharePoint as documents that are initially created by CRM users. The documents are linked to accounts. The CRM user has access to the account details to view relevant details the user may need during the service contract period.
A SharePoint user collaborating with the CRM team, does not have access to view details from the account’s record related to the same document. By creating Accounts List in SharePoint, selected fields which can facilitate the work of SharePoint users, are now available in SharePoint, without compromising CRM security.

SP2CRM Connector is one of Dynamics Objects CRM add-on to improve CRM integration with SharePoint. Other products to support better CRM integration with SharePoint:

Dynamics SharePoint Organizer (Read more) – upload Emails and Notes attachments to SharePoint.

Dynamics PDF-Docs (Read more) – PDF CRM Word-Templates and upload documents to SharePoint

All our products uploads documents with metadata from CRM records. Read about metadata 


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CRM Software Blog | Dynamics 365

Don’t Miss our Latest eBook: Strategies for Change Data Capture

Change Data Capture, or CDC, is the process that ensures that changes made in one dataset are automatically transferred to the other dataset. CDC  is most often used with databases that hold important transactional data to make sure that data organizations are working with up-to-date information. It plays an important role in various areas of data management like enterprise data warehouse, business intelligence and data quality.

In Syncsort’s lasted eBook, Strategies for Change Data Capture, we review the advantages and disadvantages of different CDC methods and show you how to keep mainframe-sourced data current in Hadoop.

blog banner eBook Strategies for CDC Don’t Miss our Latest eBook: Strategies for Change Data Capture

Download the eBook to see which change data capture strategies work best for your enterprise.

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New season, New software, New servicing model

Greetings. It feels like a lot of change is in the air! Last Friday marked the Autumnal equinox. Depending upon which hemisphere you live in, the changes you might see with the new season might differ. People living in northern hemisphere welcome Fall season while folks in southern hemisphere welcome Spring.

If you are working in the database field, you could not have missed the announcements of astronomical proportions coming from the Ignite conference this week. Specifically, for SQL Server, Scott Guthrie and Rohan Kumar announced the general availability of SQL Server 2017. You can read the complete announcement from Rohan Kumar @ Microsoft for the Modern Data Estate. Lot of customers, users and fans of SQL Server will be excited to deploy SQL Server across different platforms as well as experience the amazing new features introduced.

While the engineering team was busy getting ready to release the product, lot of engineers from the support team participated in reviewing the product behavior, providing feedback, filing bugs, tracking changes and getting trained on new technologies and so on. The support team is all geared up and ready to work with customers who will start deploying the new release.

New product release provides an opportunity to innovate how we service the product as well. You might have seen the announcements from SQL Server Release Services about the modern servicing model for SQL Server. My friend Pedro Lopes has blogged about this in great detail along with a FAQ @ Announcing the Modern Servicing Model for SQL Server. Please take the time to read through all the details and information provided. This will help you prepare to keep your SQL Server install base healthy and up to date on patches, fixes, improvements. When you are working with members of our support team you will hear about these changes – especially if you need a fix/change for the product.

Let us all welcome the new season, the new software and the new ways in which we will get updates! Looking forward to working with all of you on the new scenarios and possibilities the new software opens for all of us.

Suresh Kandoth / Pradeep M.M. / Arun Kumar K

[On behalf of all SQL Server support engineers, managers and escalation engineers]

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CSS SQL Server Engineers

Digital Hub Returns

Digital Hub is not a new idea. It’s been percolating for a few years, and its roots can be traced to Dublin, Ireland, where in a cluster of eight buildings, there exists what might be the original hub. In Dublin, it’s made up of 97 companies employing 725 people, and it was given a jumpstart by the government in 2003. Elsewhere, we might be more attuned to the idea of a tech incubator.

Fast-forward to today and half a world away in Kuala Lumpur, where Oracle has employed the hub concept to label its small and medium-sized enterprise incubator — and for good reason. More than two-thirds of the world’s total micro and SME market, equal to 266 businesses, is in the Asia-Pacific region, according to a New Straits Timesreport.

“The KL digital hub is set to leverage Asia Pacific’s small and medium enterprises’ immense growth through providing our Oracle Cloud solutions to streamline operations, boost innovation and build a platform for growth,” noted Fitri Abdullah, Oracle managing director of Malaysia.

Creating Demand

All well and good — and timely too — with Oracle OpenWorld happening next week. Oracle has learned the lesson of its main rivals for supremacy in the cloud: In addition to creating product (supply), it also needs to create demand, which would seem to turn a foundation of economics on its head.

Say’s law states that supply creates its own demand, but the literal meaning of the term might not be what applies.

It is true that supply of new category products and services creates its own demand. Customers often aren’t even aware of their need until a product shows up that demonstrates a void in life. For example, how many people really knew they needed an iPhone before it was announced in 2007?

By the same token, how many businesses knew they needed cloud computing before Salesforce introduced its product in 2000? I was there, and I can tell you it was not very many at all.

Businesses were crying for enterprise software that was easier to install and maintain, and that didn’t cost the equivalent of the GDP of an emerging nation. Cloud computing provided that, and those attributes are why the cloud initially succeeded.

Now, many years later, the bloom is off the rose, and while I think Say’s law still operates quite well under the right conditions, it doesn’t operate in cloud computing, because supply is ubiquitous. It’s time to focus on demand.

Lowering Cloud Costs

We know the cloud, and most of us don’t even consider it as risky as having data under the control of a corporation. Just look at Equifax and all of the other data breaches over the last few years. They’ve nearly all been breaches of in-house data centers.

But back to Oracle. Good on them for recognizing the need to generate demand in this key segment. We live in a different and later part of the cloud computing cycle, a time when cloud isn’t new or unique. It’s a time when the cloud has been proven better than what it replaces; a time when price concerns are a big part of decisions.

With price concerns come commoditization and automation as cost-cutting measures, and the soon-to-be-announced Oracle autonomous database is a great example of responding to those trends. There’s a stampede to the cloud happening right now. Perhaps it goes by the name of “digital disruption,” but it amounts to the same thing, and low-cost producers are in a good position to dominate.

I don’t know which company it will be, but it appears Oracle soon will have competition in Kuala Lumpur.

Another large company (I’m guessing American) will launch a hub there in October, according to the New Straits Times‘ story. No names have come up yet, but if you need some ideas just check out the incubators along Route 101 south of San Francisco.
end enn Digital Hub Returns

Denis%20Pombriant Digital Hub ReturnsDenis Pombriant is a well-known CRM industry researcher, strategist, writer and speaker. His new book, You Can’t Buy Customer Loyalty, But You Can Earn It, is now available on Amazon. His 2015 book, Solve for the Customer, is also available there. He can be reached at

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