How is the new services economy changing business? At FinancialForce Community Live in Las Vegas, Michael Krigsman (industry analyst and host of CXOTALK) sat down with our customers to discuss everything from the changing world of finance to IT innovation and customer experience.
In this next episode of CXOTALK, we hear from Michael Shulich (Senior Director, Medidata) and Naimisha Kollu (Senior Project Manager, Medidata). Medidata, a FinancialForce customer, creates the architecture for pharmaceutical and medical device customers to run clinical trials to create breakthrough drugs.
While technically Michael and Naimisha manage IT for Medidata, both also work in the business innovation office, focusing on delivering innovative technology solutions within the organization. Their CXOTALK conversation covers how they bring these disruptive programs to life internally in a fast paced and unique industry.
A few key takeaways:
- Internal innovation is just as important as external. Culturally, Medidata is committed to transforming their industry and customers through technology. Their mission is to power smarter treatments, and while Medidata has an external focus of transformation, Michael and Naimisha are working to transform their internal processes in order to help Medidata run better. “We bridge the gap between organizational departments,” explains Naimisha. “We bring technology and the processes together to make that transformation.”
- You can’t innovate without adoption. Implementing new technology and processes within an organization isn’t an end in itself. It’s just the beginning. With an eye toward widespread adoption and strategic change management, Michael and Naimisha take an incremental approach through multiple channels to reach different audiences within the global company. From lunches and training sessions to webinars and roadshows, they are always testing new ways to bring new innovations to life.
- Speed, value, and expertise are essential in the new services economy. By staying hyper-focused on keeping clients happy and successful, Medidata has been able to maintain a 99% customer retention rate. In the new services economy, Michael and Naimisha have raised the bar by focusing on a unique trifecta: speed (how quickly solutions get to market), value (how customers benefit), and expertise (requiring education and ongoing commitment to client success).