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Watson Financial Services delivers double-digit revenue growth in Q3
I’ve been meeting with Business Partners, CEOs and business executives at Sibos and Money 20/20 over the past two weeks. Our clients are discussing the value of applying cognitive, cloud and blockchain to improve core processes, reduce costs and increase transparency. Not only is our strategy resonating with industry leaders around the world, but I’m pleased to report that in Q3, Watson FSS Industry Platforms passed our first-year milestone with double-digit growth in revenue. We’ve been moving at the speed of a startup and we will continue to add new industry platforms across our strategic industries. It hasn’t always been easy, but I want to thank you for your partnership and your dedication to transforming industries together for our clients—we are working towards a strong finish for our inaugural year.
Our priority in this final quarter of our inaugural year is to close every deal and demonstrate the value our Business Partner ecosystem delivers to our business. In our recent webcast on October 5, 2017, we focused on our Governance, Risk & Compliance (GRC) strategy, sales and marketing assets, including the anatomy of a win in our strategic channel offerings: OpenPages and Algorithmics. If you missed the live event, I encourage you to watch the recorded webcast. For example, the new OpenPages on Cloud starter edition is a strategic offering for partners. Accordingly, we’ve updated our sales plays and marketing campaigns for Q4 to give you the assets you need to build a world-class, high-margin SaaS business with OpenPages and Algorithmics.
Another strategic area of our portfolio for Business Partners is Sales Performance Management (SPM). It’s your opportunity to lead with our newest version and migrate customers by introducing new analytics capabilities to optimize sales and continue to focus on margin and operational improvements. I want to highlight a recent win by InnoVyne Technologies at the largest bank in the State of Michigan. The client had over 30 different compensation plans spread over 2,500 payees. InnoVyne was able to close the deal in six months for over USD 460,000. The secret to their success is to use the client’s data in the proof of concept (POC), demonstrate deep skills and expertise, and attend every client meeting prepared. Here’s a direct quote from the bank: “Your customer dedication and commitment to the sales process was unmatched. You were always prepared.” If you are selling SPM, you can use the new SPM Event-in-a-box kit to help execute client-facing events with IBM Co-marketing dollars.
It’s hard to believe we just launched our first Industry Platform earlier this year, starting with the IBM Cloud for Watson Financial Services. Our strategy is to continue to build offerings powered by augmented intelligence and expand new customer market growth opportunities with your differentiated industry solutions. As we continue to accelerate enterprise client transformation in evolving markets, I’m looking for the Business Partner with the best line-of-business or industry solution who can demonstrate business value for the client and revenue growth. It would be my honor to present our first Outstanding Watson FSS Industry Solution Beacon Award at the IBM event for 2018, Think 2018. If you have a solution that builds on or embeds IBM Watson Financial Services Solution offerings, I encourage you to submit your Beacon Award nomination before January 16, 2018.
Finally, continue to take advantage of our Q4 sales plays, including our new GRC OpenPages Lite and the Incentive Compensation Management (ICM) Lite plays, to accelerate new pipeline development and maximize sales to our clients.
Call to action:
- Review and use the new Watson Financial Services Industry Solution Q4 Sales Plays.
- Submit your Outstanding Watson Financial Services Industry Solution Beacon Award nomination before January 16, 2018.
- Register to watch our recorded webcast: Win the RegTech revolution with IBM Governance, Risk & Compliance (GRC).
- Update your Analytics Solutions Competencies for a competitive advantage to achieve 100 percent Co-marketing benefits to build a pipeline of Client Insights for Wealth Management.
- Read the monthly Watson FSS Business Partner Newsflash—your one-stop update for all of the strategic partner news for the month.
Thank you for your ongoing investment in IBM Watson Financial Solutions and our Industry Platforms. As always, you can let me know what you think using the comments feature below. Let’s continue to dominate as we collectively evolve our businesses, lead in client success and never look back!
Director – Worldwide Business Partners Sales and Ecosystem Development, Watson Financial Services Solutions, Industry Platforms