workspan new features

New Product Features: Restrict Participant Visibility, Metrics Enhancements, and Mobile Updates

As an Ecosystem Cloud category leader, we at WorkSpan keep our customers at the center of everything we do. We are constantly adding new features based on our customers’ feedback and this month, we are excited to share with you the launch of the following key features:

  1. Restrict Participant Visibility
  2. Filter and view funding & claim requests relevant to you
  3. Metrics Enhancements

Let’s dive in.

Restrict Participant Visibility into Your Programs and Solutions

What does it do

With WorkSpan’s new participant visibility restriction feature, you can block a participant’s ability to view information about other participants from other companies in your partner programs and solutions. 

How it helps you succeed

The majority of partner programs, marketing programs, and funds are designed to enable and drive engagement and contributions from multiple partners. However, these programs often include competing partners in the same program.

Similarly, a solution offering from a company can be sold by many reseller partners. Most of these resellers are competitors in a region or industry.

You, as a program host or solution owner, may not want these competing partners to be aware of each other’s presence.

With the new “Restrict Participant Visibility” feature, you can keep your communications and engagement with each partner private and hidden from other participants.

Use Case Example:

  • Partner Programs and Co-solutions:
    • Organizations running different partner programs have multiple partners across multiple regions. Enablement content is shared with all the partners across the program. Systems Integrators (SIs) involved in the program are often competitors on the same deals. Now, you can restrict visibility and the partners will not be able to see who else is involved in the deal. 

WorkSpan Mobile App: Filter and review funding & claims requests that are relevant to you. 

What does it do?

Now you can filter all the funding requests by the workflow stage and type (eg: Funding, Claims). This will help you review requests that are the most relevant to you. 

How it helps you succeed:

As an ecosystem professional, you are working on multiple solutions with multiple customers and often get inundated with funding and claims requests that might not be relevant to you. Now you can filter tasks to quickly identify what’s pending for you to do and share opportunities with partners and member companies. This allows for timely and easy collaboration.

Use Cases

  • Share an opportunity with a partner while networking at an event.   
  • Filter out claim requests to just review the new fund requests that need your attention. 
  • Filter by tasks that were assigned by you to see how much work was completed by partners.

workspan mobile app

 

Note: WorkSpan for Mobile is in beta. Send an email to support@workspan.com and request to join the mobile beta group.

Metrics Enhancements

What does it do?

This is one of my favorite additions this month because now you can easily view all your metrics on one page, hide/share metrics, and also view the percent of the goal achieved in the progress bar. 

How does it help you succeed:

1) View All

With a new “View All” button you can view all the metrics on a single page.

WORKSPAN Metrics enhancement view all feature

workspan view all feature

2) Hide Metrics

You now have the ability to hide metrics, so that they are not shown on the Summary/Overview page or on the View All screen. This allows you to build metrics to use in Formulas [link “Formulas” to the KB article on metrics formulas], without having to display the metrics you only need for formula calculations.

WorkSpan Feature: Hide Metrics

 

3) New  symbols allowed in Metric names

Previously, Metric names had to be alphanumerical. However, our customers asked for greater flexibility with metrics naming conventions.Now you can use symbols such as these when naming a metric:   – : * / | = + # $ € £ % & [ ] ( ) ‘ “ 

4) Percent to Goal Displayed on Metrics cards

Sometimes even a small change can make a big difference. On the top right of the progress bar on a Metric card, you will now see an automatically calculated progress percentage, such as 50.7%, indicating the percentage of the goal that has been reached.  We hope this small change will help you understand how close you are to achieving your goals while avoiding the need to pull up a calculator.

WorkSpan feature: percent of goal displayed

 

If you have any additional questions regarding our new product features and would like to learn more, please contact us at support@workspan.com.

“Modern” Architecture: PRM + Ecosystem Cloud

Modern Partnering Enterprise Architecture

Companies today require agile innovation and the ability to quickly form creative solutions to solve customer problems. The need for more agile ecosystems has created a demand for an entirely new way for companies to work with partners with speed, agility, and effectiveness. 

Research from top analyst firms like Gartner, IBM, Accenture, IDC, Forrester, and others show that the top-performing companies have adopted an ecosystem model for partnering.

Companies have been selling their solutions through channel partners (“sell-through” model) for years using traditional PRM solutions. But to remain competitive and thrive in today’s market, modern partnering requires collaborating with your partners in an ecosystem model (“sell-with” model).

What is Ecosystem Cloud?

While this massive disruption is taking place and ecosystems are on the rise, the ecosystem partnering model has lacked a solution designed with these new collaborative partner motions in mind. Companies have been using spreadsheets and emails to collaborate with partners requiring excessive amounts of time and effort for manual updates and data reconciliation between partners. 

what is ecosystem cloud

Ecosystem Cloud is the shared place where all partners engage equally through a single, secure, cloud-based network. Your company can share its solutions, opportunities or marketing plans with selected partners. Your partners can share their solutions, opportunities or marketing plans with you. Notice that explicit sharing is needed – only those users and partners that are in the sharing list are given permission to collaborate.

Ecosystem Cloud enables a collaborative environment. Each company can selectively engage with their ecosystem and customize their own data model, access policies and reports for their needs; integrate with its own SSO, CRM, PRM, and Marketing Automation systems.

“As Is” Architecture: PRM + Spreadsheets

PRM and Partner Portal solutions were designed and built to handle the traditional channel “sell-through” model of partnering.   The philosophy when implementing a PRM and Partner Portal solution is typically:

  • Set up a partner portal
  • Invite partners to your portal (partners login to each company’s different partner portal)
  • Offer training and enablement
  • Enable deal registration
  • Track partner incentives

However, your top partners demand more collaboration with you and want to execute on sell-with, market-with and build-with motions that are customized for their objectives and initiatives. Such collaborative execution is simply not handled by traditional PRM solutions.  In fact, for your top partners, they may also have their own PRM / Portal solution. When that happens, who will log into the other’s portal to transact major deals together? The answer is neither — companies are not using PRMs for these kinds of transactions.

What is used? Your Partner Business Managers (PBMs) – sometimes called Partner Development Directors (PDD) – are using spreadsheets and emails to try to manage their programs, initiatives and pipeline with your top partners.

“As Is” Architecture: PRM + Spreadsheets

 

The bottom line, if you’re like most companies, your current process to manage your top partners looks like the architecture shown above.  You’re using a PRM solution to handle well-defined packaged use cases with partners (channel marketing, channel enablement, deal registration).  

And for your top partners, your PBMs are managing programs, initiatives, plans, pipeline, solutions, and marketing in their own spreadsheets.  However, each partner manager uses a different format of spreadsheet and a different process depending on the partner they are working with, the region, industry, and solutions they are selling. This makes it hard to report and manage effectively across all your top partners.

“Modern” Architecture: PRM + Ecosystem Cloud

Ecosystem Cloud is built as a network of peer companies that are planning and executing together.  Each company, including your own, logs into one place to work with all of your ecosystem partners. Your partners do the same to work with you and their own partners.  This provides a single, shared system of engagement and system of record to manage their partner build-with, market-with, and sell-with activities.  

As the chart below shows, Ecosystem Cloud allows your PBMs and their counterparts to work in a single place together that securely integrates with your CRM and PRM solutions to align all of your GTM motions with your ecosystem partners.  Many of our customers choose to keep their current PRM and Partner Portal in place to provide a simple login-based model for your volume channel VAR partners to log in and download partner materials or training courses.

“Modern” Architecture: PRM + Ecosystem Cloud

Collaborative Execution via Ecosystem Cloud

An Ecosystem Cloud enables these 3 elements for effective collaborative execution:

  • A Peer Network of Companies — All participating companies in an Ecosystem Cloud are peers across the network and log into one system to connect and conduct business with all other partners on the network.  This allows partners to engage in “n-way” partnerships inviting in whichever partners are working together to bring a solution to market or manage joint pipelines together.
  • Flexible business schema — All companies on the network have their own ways of organizing their internal systems and ways of interacting with the market.  Ecosystem Cloud solutions have the built-in flexibility to accommodate different data models and configuration tables for each company in the network to allow for every company’s unique way of defining their building blocks of business, like industries, regions, market units, organization structures, etc.
  • Configurable business policies — similarly, each company in the network may have different ways of defining their business processes, data views, metrics, derived fields, values, etc.  

PRMs are not organized to enable Ecosystem Cloud. Each PRM is set-up by the host company and is customized for the host company. Your partners cannot set up their own business schema, set up their own SSO and access policies, set up their own CRM integrations, and hold their opportunities private from you.

Preparing Now

There is a massive opportunity ahead for organizations able to embrace this modern architecture leveraging the Ecosystem Cloud platform.  McKinsey estimates that digital ecosystems will account for upwards of $60 trillion of revenue by 2025 — more than 30 percent of all global corporate revenues.  

And at the same time, IDC declares:

“Partners that adopt an ecosystem business model will grow 50% faster than partners which do not.”   

IDC, January 2019

Forward-thinking organizations are preparing now by defining and implementing a vigorous ecosystem strategy that includes a modern partnering architecture with Ecosystem Cloud.

7 Unexpected Industries Where Business Ecosystems are Driving Value

7 Unexpected Industries Where Business Ecosystems are Driving Value

Business Ecosystems have taken B2B industries by fire. But, SaaS companies and software companies aren’t the only industries leveraging ecosystems and disrupting their markets. Nearly every market is seeing significant disruption, first by digital transformation, and now by the growth in ecosystems. According to recent research from Accenture,

More than 40 percent of companies across 20 industries—accounting for a combined enterprise value of $26 trillion—are highly susceptible to future disruption.

For those business leaders who are ready to seize on it, massive opportunities and revenue are available for the taking. Here are seven surprising industries where ecosystems are shaking up the market.

MedTech: Microsoft, and Walgreens 

The business side of the medical industry has historically been slow to innovate. However, digital transformation has accelerated the pace of new technology and propelled massive growth in the medical technology (MedTech) sector. Healthcare organizations are forging exciting partnerships with technology companies to provide the solutions patients are looking for.

Recently, Microsoft and Walgreens Boots Alliance formed a strategic partnership to “develop new health care delivery models, technology and retail innovations to advance and improve the future of healthcare.”

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expand your business ecosystem

3 Steps to Boost Market Expansion with Business Ecosystems

Everyone is talking about ecosystems—including those in the boardroom. Ecosystems have become a key strategy for businesses looking to stay relevant through ongoing marketplace disruption and drive growth and innovation. 

In fact, according to an Accenture survey of C-level professionals, 76% of business leaders agree current business models will be unrecognizable in five years—and ecosystems will be the main change agent. 

And these business leaders aren’t wasting time—84% of those surveyed said ecosystems were important to their strategy of disruption & 52% say industry innovation is a great threat from competitors forming ecosystems.

Accenture Study on the rise of ecosystems

Doing nothing is costly—in future years, 30% to 70% of revenue is predicted to flow through ecosystems, and without a strategy in place to leverage partner relationships, businesses will find themselves missing out on significant revenue.

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strategic alliance definition

Strategic Alliance: What is it, Types, Benefits & Why You Need it.

Alliances and partnerships are a key staple in business strategies for organizations large and small. But while many partnerships begin with big visions and aspirations, not all alliances turn out to be strategic. 

In the last few months, I have seen various new alliances being formed among top companies of the world.

But, what is a strategic alliance, what are the types of strategic alliances, how can they be a boon—or a burden—to your company, and why are they now mandatory for success in today’s marketplace?

Let’s dive into it. 

Three Different Types of Strategic Alliances 

Alliances are business relationships. They’re about who you know in business, and like a personal network, they supplement your capabilities and weaknesses with strengths. Each alliance is a joint venture where two or more entities work together to achieve a shared goal while remaining separate and independent.

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WorkSpan Team

WorkSpan Culture: Why Your Next Adventure is at WorkSpan

At WorkSpan, our culture is a verb. To me, this means it’s a culmination of our hard work, collaboration, open communication, and the act of delivering awesomeness on a day-to-day basis―a commitment we all share with each other and our users.

I don’t need or want to give a sales pitch about why WorkSpan is a fantastic place to work. In fact, we might not be what you expect from a Silicon Valley company. For instance, we forgo a lot of the perks that are commonplace in Silicon Valley—you won’t find ping pong tables, nap rooms, kombucha on tap or any of the other latest perks here.

We don’t boast flavor-of-the-month perks because our goal is to offer more than fleeting extras. Instead, we are doing the hard work of empowering our team to act on behalf of WorkSpan as a stakeholder.

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Create A product first!

Create a product first please!