New Deals Are Moving from Scale to Strategic Value

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "New Deals Are Moving from Scale to Strategic Value"

Transcription

1

2 Companies historically have viewed mergers and acquisitions as a way to spur growth by bulking up : adding scale and market share by combining with another organization offering similar or complementary products or services. Such deals remain important in some industries and circumstances. But the focus of M&A increasingly is shifting. Digital disruption and industry convergence are forcing companies to adapt to a new ecosystem and pursue more strategic, smaller acquisitions that can serve as a platform for new business models that boost growth and innovation. New Deals Are Moving from Scale to Strategic Value When BBVA announced it was buying US-based online bank Simple in 2014, it turned a few heads. 1 It wasn t the kind of acquisition typical in the finance world, where big deals involving banks acquiring other financial services firms are more the norm. In fact, Simple only counted 100,000 customers at the time. But the $117 million deal perfectly fit BBVA s strategy to drive growth and competitiveness through entirely new businesses, and is emblematic of a new trend in M&A. Deals used to focus mainly on acquisitions that could help a company quickly bolster scale and market share while gaining cost synergies. Today, they increasingly involve small companies to gain access to IP, technology or skills that can help a company refine or create new business models or even generate additional growth in non-core areas. Monsanto had a similar rationale behind its $930 million acquisition of The Climate Corporation in The Climate Corporation applies its expertise in data science to turn a wide range of information into valuable insights and recommendations that can help farmers improve their crop yields and unlock additional value from their land. Monsanto believes data science represents a potential $20 billion revenue opportunity for the company beyond its main business of seeds and chemicals. 2 According to an Accenture survey, businesses are exploring market opportunities in other sectors of the economy and with a wider network of stakeholders. 3 These deals reflect an important shift in the value-creation equation behind acquisitions. Companies have always created or enhanced value by becoming leaders in their industry and traditionally, leadership has been defined by having more customers, a broader geographic presence, and an optimized cost base. Those drivers are still important, despite the fact that only 50 percent of such M&A deals typically lead to a positive impact on Total Return to Shareholders. 4 However, with the speed of change rendered by the digital revolution, leadership and resulting shareholder value increasingly hinges on building agile and adaptive new business models that unlock growth and innovation through new types of products and services. 2

3 New Targets Require a New M&A Approach As companies shift their M&A focus from scale and synergies to enablers and capabilities, they will need a new approach to both pre- and post-deal activities. Target Identification For starters, a company typically will look for different targets. A company has to broaden its horizons when considering an acquisition, casting its net across every industry in which the capability it seeks could be located. Conversely, in the search for new capabilities, targets often are small, nascent businesses plying their trade in an adjacent or, sometimes, a completely different industry. In fact, according to a recent Accenture survey, 80 percent of firms are planning to pursue non-traditional growth, in large part by venturing into or with other industries (60 percent). 5 These targets are attractive more for their considerable disruptive potential and less for their direct, immediate impact on revenue or margins. Daimler AG, for instance, became the first major car maker to enter the ride-sharing business with its combined $100 million acquisitions of technology companies RideScout LLC and Intelligent Apps GmbH, whose mobile apps connect users with transportation options. 6 Similarly, telecoms carrier Vodafone crossed industry lines with its $197 million purchase of Cobra Automotive Technologies, which specializes in car security and telematics for the insurance and automotive sectors. With this deal, Vodafone hopes to create a new source of revenue from the Internet of Things and connected vehicle services to make up for declining revenue in its traditional phone-call business. 7 Valuation In addition to seeking different targets, companies will have to assess the value of the targets differently. When valuing traditional targets, a company will rely on classic valuation techniques using tried-and-true criteria: the target s market share, number or location of factories, and revenue and cash flow; the ability to integrate and revamp the value chain; and the cost of capital. With smaller, less-established companies, such information may not be available (typically the case with privately held enterprises) or even be relevant (niche companies that have been around for only two years may not be revenue generating and can t provide a revenue projection). Proxies and new criteria often must be considered, including the target s R&D spend, disruptive potential, and magnitude of strategic impact. And these criteria could be different from deal to deal. Accenture research shows that selecting the right targets matters: Thirty-five percent of companies agree that identifying, screening and prioritizing the right targets is critical to M&A success, and more than 40 percent say getting due diligence right is a critical step. 8 Given the dearth of traditional market and financial-based information available, a company must make some major assumptions about where they believe the target is headed in the market and its chances for success as well as about how the company can effectively incorporate the acquired capabilities into its business to create value to determine the price it s willing to pay. And that means the margin for error is much higher and the risk of getting the valuation wrong and paying too high a price is greater. A venture capitalist can make a wide range of bets on promising companies knowing some may pay off and others may not. A company doing an acquisition can t take that risk it has to get it right. The amount of money 3

4 at risk with a niche, unproven company is much less than what s at stake when buying a major competitor while the potential upside can be immense. Integration Finally, the integration of a small entrepreneurial company is very different and has its unique challenges. The focus isn t on removing redundancies and maximizing operational and cost synergies. Rather, the prevailing concern is to not suffocate the acquisition and, consequently, diminish the value of the capability that was the basis for the deal in the first place. In other words, integration is innovation driven and often done concurrently with transformation activities needed to best leverage the new pool of talent and IP. When BBVA considered how it should handle the Simple integration, it was mindful of the risk of overwhelming Simple and diluting its impact. That s one of the reasons BBVA has chosen to allow Simple to continue to operate on its own within the context of the BBVA family. By building links between Simple and BBVA, BBVA can leverage Simple s online platform and other tools across the rest of the business. 9 Adapt Your M&A Strategy Given the rapid speed at which digital is driving industry convergence and creating greater opportunities for ecosystem collaboration, leading companies are redefining their business model to stay ahead of the business curve and create competitive advantage. And when they do, they will rely on those critical enablers and capabilities provided by niche companies. Without them, a company will lack what it needs to create a portfolio that ensures survival and drives growth and innovation through the next business cycle. To effectively identify, value and integrate these smaller strategic targets, companies need to develop an M&A vision that aligns with the dynamics of their industry, especially disruption and convergence. They also must adapt the criteria and decision frameworks for evaluating their portfolio and acquisition targets to fully understand a deal s impact on their entire portfolio and how it will enable them to meet market expectations. Perhaps most importantly, they have to accelerate their overall M&A decision making to move at the speed of the market and avoid missing out on key opportunities to acquire vital capabilities. Adopting a new M&A approach doesn t mean a company should completely eliminate its more traditional M&A strategy, which remains valuable in certain situations. But it does mean companies should recognize that while buying their competitors may lead to short-term dominance, the threat of business model disruption won t disappear. 4

5

The future of M&A in telecom

The future of M&A in telecom The future of M&A in telecom McKinsey & Company s analysis of past telecom mergers and acquisitions provides new insights into where the industry is likely headed. By Jean-Christophe Lebraud and Peter

More information

Measuring Relative Valuation

Measuring Relative Valuation AgBioForum Volume 1, Number 2 1998 Pages 69-73 CAPITAL MARKET VALUES OF AGRICULTURAL BIOTECHNOLOGY FIRMS: HOW HIGH AND WHY? Bruce Bjornson 1 Market values of agricultural seed and biotechnology firms have

More information

Merger & Acquisition, Integration and Divestiture

Merger & Acquisition, Integration and Divestiture Financial Services the way we do it Merger & Acquisition, Integration and Divestiture Financial institutions are re-focusing their M&A strategies and objectives while aligning their organizations to adapt

More information

THE ANALYTICS HUB LEVERAGING A SHARED SERVICES MODEL TO UNLOCK BIG DATA. Thomas Roland Managing Director. David Roggen Director CONTENTS

THE ANALYTICS HUB LEVERAGING A SHARED SERVICES MODEL TO UNLOCK BIG DATA. Thomas Roland Managing Director. David Roggen Director CONTENTS THE ANALYTICS HUB LEVERAGING A SHARED SERVICES MODEL TO UNLOCK BIG DATA David Roggen Director Thomas Roland Managing Director CONTENTS Shared Services Today 2 What Is an Analytics Hub? 3 Analytics Hub

More information

Stand on the Sidelines, or Boost Competitiveness?

Stand on the Sidelines, or Boost Competitiveness? Stand on the Sidelines, or Boost Competitiveness? How to Make Bold Moves on the New Insurance Playing Field By Ravi Malhotra The insurance playing field will look dramatically different in a digitally

More information

Financing a New Venture

Financing a New Venture Financing a New Venture A Canadian Innovation Centre How-To Guide 1 Financing a new venture New ventures require financing to fund growth Forms of financing include equity (personal, family & friends,

More information

Capturing the insurance customer of tomorrow. Three key questions to guide success

Capturing the insurance customer of tomorrow. Three key questions to guide success Capturing the insurance customer of tomorrow Three key questions to guide success Most insurers can confirm: customers want more, and more of what they want is digital. To sustain relevance in this new

More information

for Analysing Listed Private Equity Companies

for Analysing Listed Private Equity Companies 8 Steps for Analysing Listed Private Equity Companies Important Notice This document is for information only and does not constitute a recommendation or solicitation to subscribe or purchase any products.

More information

Mergers and Acquisitions Operational Synergies Perspectives on the Winning Approach

Mergers and Acquisitions Operational Synergies Perspectives on the Winning Approach Mergers and Acquisitions Operational Synergies Perspectives on the Winning Approach Part 1 of the Miniseries on Mergers and Acquisitions Operational Synergies Mergers and Acquisitions Operational Synergies

More information

LTV 2014 in brief. Long-Term Variable compensation Program 2014 2. Overview of the Program 4. Stock Purchase Plan 5. Financing 10

LTV 2014 in brief. Long-Term Variable compensation Program 2014 2. Overview of the Program 4. Stock Purchase Plan 5. Financing 10 LTV 2014 in brief This document contains information on the Board of Directors of Telefonaktiebolaget LM Ericsson s proposal to the Annual General Meeting on April 11, 2014 for implementation of an all-employee

More information

A HISTORICAL PERSPECTIVE ON THE TELECOMMUNICATION SERVICES INDUSTRY: LESSONS LEARNED WHITE PAPER

A HISTORICAL PERSPECTIVE ON THE TELECOMMUNICATION SERVICES INDUSTRY: LESSONS LEARNED WHITE PAPER A HISTORICAL PERSPECTIVE ON THE TELECOMMUNICATION SERVICES INDUSTRY: WHITE PAPER by Xavier Van de Lanotte President, VXTConsulting, Inc. Miami May, 2002 The telecommunication industry landscape has significantly

More information

Developing the edge or scaling the core through corporate venturing Internet of Things. Daan Witteveen

Developing the edge or scaling the core through corporate venturing Internet of Things. Daan Witteveen Developing the edge or scaling the core through corporate venturing Internet of Things Daan Witteveen Global M2M Connections (billion) The Global IOT Market is expected to see a forecasted to grow at a

More information

Acquiring innovation Strategic deal-making to create value through M&A

Acquiring innovation Strategic deal-making to create value through M&A Acquiring innovation Strategic deal-making to create value through M&A March 2014 At a glance 39 percent of US CEOs are planning on an acquisition in 2014 according to PwC s Global CEO Survey. A PwC survey

More information

Developing an IT agenda to position the business for the future

Developing an IT agenda to position the business for the future IT Strategy Developing an IT agenda to position the business for the future IT leaders are accustomed to the balancing act between evolving business needs and demands to squeeze more value out of limited

More information

Merging Mitel Networks and Aastra Technologies FAQs for Channel Partners

Merging Mitel Networks and Aastra Technologies FAQs for Channel Partners Merging Mitel Networks and Aastra Technologies FAQs for Channel Partners Why has Mitel decided to pursue this merger? We believe there are a number of compelling immediate and long-term benefits for the

More information

Opportunities for Optimism? A New Vision for Value in Asset Management

Opportunities for Optimism? A New Vision for Value in Asset Management Opportunities for Optimism? A New Vision for Value in Asset Management Featuring the findings of the 2015 State Street Asset Manager Survey Opportunities for Optimism? A New Vision for Value in Asset Management

More information

Fintech CIOs as venture capitalists

Fintech CIOs as venture capitalists Fintech CIOs as venture capitalists Patrick Laurent Partner Technology & Enterprise Application Leader Deloitte Nicolas Vauclin Senior Consultant Technology & Enterprise Application Deloitte Financial

More information

Accenture Technology Consulting. Clearing the Path for Business Growth

Accenture Technology Consulting. Clearing the Path for Business Growth Accenture Technology Consulting Clearing the Path for Business Growth Mega technology waves are impacting and shaping organizations in a profound way When a company s executive management team considers

More information

career in the Production

career in the Production The Syngenta Production & Supply Graduate Program Building your career in the Production & Supply organization while helping to meet the rising demand for food, feed and fuel * Our work matters The Syngenta

More information

Long-Term Variable Remuneration Program 2012 (LTV 2012)

Long-Term Variable Remuneration Program 2012 (LTV 2012) LTV 2012 in brief This document contains information on the Board of Directors of Telefonaktiebolaget LM Ericsson s proposal to the Annual General Meeting on May 3, 2012 for implementation of an all-employee

More information

Mobile Advertising and Marketing Review

Mobile Advertising and Marketing Review November 11, 2011 Managing Director Research Section 1: Executive Overview The mobile advertising and marketing industry is currently undergoing a period of rapid expansion, fundamental change, and ascendency

More information

Elements of Technology Strategy:

Elements of Technology Strategy: Elements of Technology Strategy: Identification of Key Technologies and Developing Sourcing, Innovation and Balancing Strategies. Presentation to: Saudi Aramco Technical Exchange Meeting (TEM) 2003 Dhahran,

More information

The Business Case For SBA 7a Lending For Community Banks

The Business Case For SBA 7a Lending For Community Banks The Business Case For SBA 7a Lending For Community Banks How Community Banks Can Prudently Make Loans to Small Business By: Joanne Thompson SBA OneSource, LLC This paper examines the business reasons for

More information

Five Integration Best Practices that will Make or Break a Software M&A Transaction

Five Integration Best Practices that will Make or Break a Software M&A Transaction Five Integration Best Practices that will Make or Break a Software M&A Transaction Industry Whitepaper by Waterstone Management Group Mark Hauser, Partner Nick Latz, Senior Associate Carolanne Fried, Analyst

More information

Seed Funding and Venture Capital Course Certificate Program. Greg Horowitt, Managing Director, T2 Venture Capital Kauffman Fellow, Class XV

Seed Funding and Venture Capital Course Certificate Program. Greg Horowitt, Managing Director, T2 Venture Capital Kauffman Fellow, Class XV Seed Funding and Venture Capital Course Certificate Program Greg Horowitt, Managing Director, T2 Venture Capital Kauffman Fellow, Class XV Overview Introduction to Venture Capital Instruction provided

More information

SYMANTEC CORPORATION 4Q13 and FY13 RESULTS PREPARED REMARKS

SYMANTEC CORPORATION 4Q13 and FY13 RESULTS PREPARED REMARKS Introduction Helyn Corcos, Vice President Investor Relations Good afternoon and thank you for joining our call to discuss our fourth quarter and fiscal year 2013 results. With me today are Steve Bennett,

More information

Business to business (B2B) corporations with strong cash. Merger and Acquisition Success: The Sales Force Integration Imperative

Business to business (B2B) corporations with strong cash. Merger and Acquisition Success: The Sales Force Integration Imperative S A L ES & M A R K E TING INSIGHTS Merger and Acquisition Success: The Sales Force Integration Imperative Michael B. Moorman and Ladd Ruddell Business to business (B2B) corporations with strong cash reserves

More information

Consumer Demand Driven Supply Chain

Consumer Demand Driven Supply Chain Consumer Demand Driven Supply Chain Analyst Field Trip Derrick Penick SVP Merchandising & Distribution Food Lion LLC Mark Doiron, EVP - Hannaford Portsmouth, NH December 3, 2008 1 Delhaize Group U.S. Supply

More information

Accenture Advanced Enterprise Performance Management Solution for SAP

Accenture Advanced Enterprise Performance Management Solution for SAP Accenture Advanced Enterprise Performance Management Solution for SAP Helping oil and gas companies exploit today s insight and fuel tomorrow s high performance In the recent Accenture High Performance

More information

Talent & Organization. Organization Change. Driving successful change to deliver improved business performance and achieve business benefits

Talent & Organization. Organization Change. Driving successful change to deliver improved business performance and achieve business benefits Talent & Organization Organization Change Driving successful change to deliver improved business performance and achieve business benefits Accenture Organization Change Distinctive solutions for transformational,

More information

Agenda. UK Horseracing wagering performance - what are the latest trends? Funding, Levy, Prize Money. Options to improve UK racing revenues

Agenda. UK Horseracing wagering performance - what are the latest trends? Funding, Levy, Prize Money. Options to improve UK racing revenues Agenda UK Horseracing wagering performance - what are the latest trends? Funding, Levy, Prize Money Options to improve UK racing revenues 1) The Racing Right 2) Authorised Betting Partner 3) Latest media

More information

Startup Toronto Business Incubation Strategy: Establishing Toronto as a Global Startup Community. General Manager, Economic Development and Culture

Startup Toronto Business Incubation Strategy: Establishing Toronto as a Global Startup Community. General Manager, Economic Development and Culture ED3.6 STAFF REPORT ACTION REQUIRED Startup Toronto Business Incubation Strategy: Establishing Toronto as a Global Startup Community Date: March 31, 2015 To: From: Wards: Economic Development Committee

More information

The Physical Security Business 2014 to 2018; Access Control, Intruder Alarms & Video Surveillance

The Physical Security Business 2014 to 2018; Access Control, Intruder Alarms & Video Surveillance Brochure More information from http://www.researchandmarkets.com/reports/3049614/ The Physical Security Business 2014 to 2018; Access Control, Intruder Alarms & Video Surveillance Description: The game

More information

Driving an Upswing in a Downturn at PolyOne. High Performance through Business Transformation

Driving an Upswing in a Downturn at PolyOne. High Performance through Business Transformation Driving an Upswing in a Downturn at PolyOne High Performance through Business Transformation PolyOne Corporation is a premier global provider of specialized polymer materials, tailored services and end-to-end

More information

Supply Chains: From Inside-Out to Outside-In

Supply Chains: From Inside-Out to Outside-In Supply Chains: From Inside-Out to Outside-In Table of Contents Big Data and the Supply Chains of the Process Industries The Inter-Enterprise System of Record Inside-Out vs. Outside-In Supply Chain How

More information

Power play: Three new models for growth in the utilities industry

Power play: Three new models for growth in the utilities industry Power play: Three new models for growth in the utilities industry Power play: Three new models for growth in the utilities industry Traditional business models that have dominated the utilities industry

More information

THE NEW MOBILITY ECONOMY

THE NEW MOBILITY ECONOMY THE NEW MOBILITY ECONOMY Information is the New Frontier Henry Birdseye Weil 18 November 2015 Get the best route, every day, with real time help from other drivers. Waze is the world's largest communitybased

More information

Executive Checklist to Transitioning Processes

Executive Checklist to Transitioning Processes Digital Innovation Series Executive Checklist to Transitioning Processes Building a Flexible Model The Digital Innovation Series traces the trends that are driving the digital-innovation imperative that

More information

Five Integration Imperatives that will Make or Break a Software M&A Transaction

Five Integration Imperatives that will Make or Break a Software M&A Transaction Five Integration Imperatives that will Make or Break a Software M&A Transaction Industry Whitepaper by Waterstone Management Group Mark Hauser, Partner Nick Latz, Senior Associate Carolanne Fried, Analyst

More information

BIG DATA WITHIN THE LARGE ENTERPRISE 9/19/2013. Navigating Implementation and Governance

BIG DATA WITHIN THE LARGE ENTERPRISE 9/19/2013. Navigating Implementation and Governance BIG DATA WITHIN THE LARGE ENTERPRISE 9/19/2013 Navigating Implementation and Governance Purpose of Today s Talk John Adler - Data Management Group Madina Kassengaliyeva - Think Big Analytics Growing data

More information

Why some merging companies become synergy overachievers

Why some merging companies become synergy overachievers Why some merging companies become synergy overachievers Some outperformers justify higher targets because they know how to achieve them. By Laura Miles, Adam Borchert and Alexandra Egan Ramanathan in conjunction

More information

Specialty Insurance Where Are We Headed?

Specialty Insurance Where Are We Headed? 2013 PLUS D&O Symposium Specialty Insurance Where Are We Headed? David Cash Endurance Specialty New York - February 6-7, 2013 Keynote Outline 1. Who are the Specialty Companies? 2. Economic drivers for

More information

Explore the Art of the Possible Discover how your company can create new business value through a co-innovation partnership with SAP

Explore the Art of the Possible Discover how your company can create new business value through a co-innovation partnership with SAP Explore the Art of the Possible Discover how your company can create new business value through a co-innovation partnership with SAP Innovate to Differentiate How SAP technology innovations can help your

More information

Accenture Sustainability Performance Management. Delivering Business Value from Sustainability Strategy

Accenture Sustainability Performance Management. Delivering Business Value from Sustainability Strategy Accenture Sustainability Performance Management Delivering Business Value from Sustainability Strategy Global executives are as committed as ever to sustainable business. Yet, executing a sustainability

More information

VARs: The untapped growth engine for telcos

VARs: The untapped growth engine for telcos VARs: The untapped growth engine for telcos As enterprise customers migrate to IP connectivity, telcos must consider offering IT services to shore up their margins, and for some, acquiring a value-added

More information

Analyst Roundtable. Cologne, December 12, 2013

Analyst Roundtable. Cologne, December 12, 2013 QSC AG Analyst Roundtable Cologne, December 12, 2013 AGENDA 1. Operational Update Barbara Stolz CFO 2. Strategic Update Juergen Hermann CEO 3. Presentation of Selected Innovations - QSC-WiFi - QSC-tengo

More information

Is Your Consumer Packaged Goods Innovation Engine Running on Empty? by Adi Alon and Brian Doyle

Is Your Consumer Packaged Goods Innovation Engine Running on Empty? by Adi Alon and Brian Doyle Is Your Consumer Packaged Goods Innovation Engine Running on Empty? by Adi Alon and Brian Doyle Far from firing on all cylinders, most Consumer Packaged Goods (CPG) innovation engines are sputtering. 2

More information

Global Headquarters: 5 Speen Street Framingham, MA 01701 USA P.508.872.8200 F.508.935.4015 www.idc.com

Global Headquarters: 5 Speen Street Framingham, MA 01701 USA P.508.872.8200 F.508.935.4015 www.idc.com WHITE PAPER Network Consulting Services Lead Enterprise Transformation Sponsored by: HP Leslie Rosenberg February 2011 Curtis Price Global Headquarters: 5 Speen Street Framingham, MA 01701 USA P.508.872.8200

More information

Hosting and cloud services both provide incremental and complementary benefits to the organization

Hosting and cloud services both provide incremental and complementary benefits to the organization 33 Yonge St., Suite 420, Toronto, Ontario Canada, M5E 1G4 W H I T E P A P E R I D C a n d T E L U S E n t e r p r i s e C l o u d S t u d y, 2 0 1 3 : C a p i t a l i z i n g on C l o u d ' s W i n d o

More information

Wealth and Asset Management Services Point of View. Designing a Modern IT Ecosystem for Asset Management Firms

Wealth and Asset Management Services Point of View. Designing a Modern IT Ecosystem for Asset Management Firms Wealth and Asset Management Services Point of View Designing a Modern IT Ecosystem for Asset Management Firms The asset management business once an industry characterized by high margins and predictable

More information

Cloud Analytics Where CFOs, CMOs and CIOs Need to Move To

Cloud Analytics Where CFOs, CMOs and CIOs Need to Move To Cloud Analytics Where CFOs, CMOs and CIOs Need to Move To IN PARTNERSHIP WITH Analytics and the Speed Advantage Introduction Three recent workplace trends the growth of the mobile revolution, the emergence

More information

Do you really need investors?

Do you really need investors? Do you really need investors? Bootstrapping vs funding Wolves Summit, Gdynia, April 2015 Raise or bootstrap? For too many start-ups raising capital has replaced building a well-balanced business Money

More information

POST-MERGER INTEGRATION

POST-MERGER INTEGRATION POINT OF VIEW More than ever, corporations face the challenge of delivering maximum value and embedding change throughout the entire organization In a world characterized by increased mergers and acquisitions,

More information

Business Acumen: An Experiential Approach

Business Acumen: An Experiential Approach 1 Business Acumen: An Experiential Approach White paper Forward looking organizations are discovering that a high degree of business acumen among the management team is a powerful source of competitive

More information

Operations Excellence in Professional Services Firms

Operations Excellence in Professional Services Firms Operations Excellence in Professional Services Firms Published by KENNEDY KENNEDY Consulting Research Consulting Research & Advisory & Advisory Sponsored by Table of Contents Introduction... 3 Market Challenges

More information

Business Process Outsourcing. Finding the Right Business Process Outsourcing Opportunities to Achieve High Performance

Business Process Outsourcing. Finding the Right Business Process Outsourcing Opportunities to Achieve High Performance Business Process Outsourcing Finding the Right Business Process Outsourcing Opportunities to Achieve High Performance Between 2011 and 2013 the global Business Process Outsourcing (BPO) market is projected

More information

September 17, 1:00 PM. Dean Sorensen, Founder, IBP Collaborative

September 17, 1:00 PM. Dean Sorensen, Founder, IBP Collaborative BUSINESS FORECASTING AND INNOVATION FORUM 2015 September 17-18, 2015 Boston, MA September 17, 1:00 PM Track A Session: Transforming FP&A via Strategic, Financial & Operational Integration Improve forecast

More information

Industrial Automation. A Manufacturing Revolution in Automotive and Industrial Equipment

Industrial Automation. A Manufacturing Revolution in Automotive and Industrial Equipment Industrial Automation A Manufacturing Revolution in Automotive and Industrial Equipment 1 Automated production, integrated end-to-end: transparent, reliable, predictable and efficient. That s the promise

More information

VENTURE CAPITAL 101 I. WHAT IS VENTURE CAPITAL?

VENTURE CAPITAL 101 I. WHAT IS VENTURE CAPITAL? VENTURE CAPITAL 101 I. WHAT IS VENTURE CAPITAL? Venture capital is money provided by an outside investor to finance a new, growing, or troubled business. The venture capitalist provides the funding knowing

More information

Investing on hope? Small Cap and Growth Investing!

Investing on hope? Small Cap and Growth Investing! Investing on hope? Small Cap and Growth Investing! Aswath Damodaran Aswath Damodaran! 1! Who is a growth investor?! The Conventional definition: An investor who buys high price earnings ratio stocks or

More information

Using Long-Term Incentives as a Strategic Driver

Using Long-Term Incentives as a Strategic Driver August 2014 Using Long-Term Incentives as a Strategic Driver ADVANCING THE DIALOGUE Introduction What s the Big Idea? To maximize their impact, long-term incentive plans should to be tailored to a company

More information

August 3, 2015. R. Halsey Wise Chairman and Chief Executive Officer MedAssets, Inc. 100 North Point Center, East, Suite 200 Alpharetta, GA 30022

August 3, 2015. R. Halsey Wise Chairman and Chief Executive Officer MedAssets, Inc. 100 North Point Center, East, Suite 200 Alpharetta, GA 30022 R. Halsey Wise Chairman and Chief Executive Officer MedAssets, Inc. 100 North Point Center, East, Suite 200 Alpharetta, GA 30022 August 3, 2015 cc: Board of Directors Dear Halsey, Starboard Value LP, together

More information

How to Get More from Your ERP Investments. Sweat the Asset to Achieve Greater Value in Consumer Packaged Goods

How to Get More from Your ERP Investments. Sweat the Asset to Achieve Greater Value in Consumer Packaged Goods How to Get More from Your ERP Investments Sweat the Asset to Achieve Greater Value in Consumer Packaged Goods The Journey Toward Value Enterprise resource planning (ERP) continues to be at the center

More information

Willis makes firm offer to buy Gras Savoye at year-end 2015, to expand its fully integrated multinational offering to clients

Willis makes firm offer to buy Gras Savoye at year-end 2015, to expand its fully integrated multinational offering to clients News Release Contact: Media: Investors: Paul Platt (Willis) +44 20 3124 7659 Paul.Platt@willis.com Céline Meslier (Gras Savoye) +33 (0)1 41 3 55 02 celine.meslier@grassavoye.com Peter Poillon +1 212 915

More information

Watson IoT. Welcome to the era of cognitive IoT

Watson IoT. Welcome to the era of cognitive IoT Watson IoT Watson IoT learns from, and infuses intelligence into, the physical world to transform business and enhance the human experience. Welcome to the era of cognitive IoT 6,000 EXABYTES of data will

More information

Making Machines More Connected and Intelligent

Making Machines More Connected and Intelligent White Paper Making Machines More Connected and Intelligent Overview It s no secret that technology is dramatically transforming the manufacturing arena. We re witnessing a new industrial revolution, led

More information

T r a n s f o r m i ng Manufacturing w ith the I n t e r n e t o f Things

T r a n s f o r m i ng Manufacturing w ith the I n t e r n e t o f Things M A R K E T S P O T L I G H T T r a n s f o r m i ng Manufacturing w ith the I n t e r n e t o f Things May 2015 Adapted from Perspective: The Internet of Things Gains Momentum in Manufacturing in 2015,

More information

Consumer Goods and Services

Consumer Goods and Services Accenture Risk Management Industry Report Consumer Goods and Services 2011 Global Risk Management Point of View Consumer Goods and Services 2011 Global Risk Management Point of View Consumer Goods and

More information

AXA INVESTMENT MANAGERS

AXA INVESTMENT MANAGERS AXA INVESTMENT MANAGERS Entering a new phase of growth Investor Day November 20, 2014 Andrea ROSSI CEO AXA Investment Managers Member of the AXA Group Executive Committee Certain statements contained herein

More information

The Rising Opportunity for CMO-CIO Collaboration in the Pharmaceutical Industry

The Rising Opportunity for CMO-CIO Collaboration in the Pharmaceutical Industry Accenture Life Sciences Rethink Reshape Restructure for better patient outcomes The Rising Opportunity for CMO-CIO Collaboration in the Pharmaceutical Industry Demographics Life Sciences Pharma/Biotech:

More information

Cross-sector valuation: What financial service companies should consider when acquiring tech targets

Cross-sector valuation: What financial service companies should consider when acquiring tech targets Cross-sector valuation: What financial service companies should consider when acquiring tech targets September 2015 A publication from PwC s Deals practice At a glance As financial service (FS) companies

More information

Is now a good time to sell your consulting

Is now a good time to sell your consulting Is now a good time to sell your consulting THE 2014 BUYERS RESEARCH REPORT F R O M E Q U I T E Q Opportunities for sellers in the consulting sector M&A market Contents Highlights...3 Introduction...4 Buyers

More information

Net income in the second quarter was 1.281 billion, compared to 538 million in the previous quarter and 578 million in the same quarter a year ago.

Net income in the second quarter was 1.281 billion, compared to 538 million in the previous quarter and 578 million in the same quarter a year ago. Press Presse Prensa For the business and financial press Munich/Erfurt, April 25, 2002 Siemens in the second quarter (January 1 to March 31) of fiscal 2002 Net income in the second quarter was 1.281 billion,

More information

Talent & Organization. Organization Change. Driving successful change to deliver improved business performance and achieve business benefits

Talent & Organization. Organization Change. Driving successful change to deliver improved business performance and achieve business benefits Talent & Organization Organization Change Driving successful change to deliver improved business performance and achieve business benefits Accenture Organization Change Distinctive solutions for transformational,

More information

Business Innovation & Transformation Enablement (BITE) Method

Business Innovation & Transformation Enablement (BITE) Method Business Innovation & Transformation Enablement (BITE) Method Henrik von Scheel LEAD Developer, responsible for BITE Method LEAD the Way Copyright note on Intellectual Capital: ALL RIGHTS RESERVED LEADing

More information

BUILDING ENTREPRENEURSHIP DEVELOPMENT SYSTEMS IN NORTHERN IOWA 1

BUILDING ENTREPRENEURSHIP DEVELOPMENT SYSTEMS IN NORTHERN IOWA 1 BUILDING ENTREPRENEURSHIP DEVELOPMENT SYSTEMS IN NORTHERN IOWA 1 COMMON ROOTS, DIFFERENT APPROACHES BACKGROUND ON THE JOHN PAPPAJOHN ENTREPRENEURIAL CENTERS (JPEC) IN IOWA John Pappajohn s roots are in

More information

2015 Global PLM Services in Discrete Manufacturing Company of the Year Award

2015 Global PLM Services in Discrete Manufacturing Company of the Year Award 2015 2015 Global PLM Services in Discrete Manufacturing Company of the Year Award Frost & Sullivan 1 We Accelerate Growth Background and Company Performance Industry Challenges The industrial sector experienced

More information

Preparing your Business Plan

Preparing your Business Plan Preparing your Business Plan Planning is: Taking prudent, calculated risks rather than blindly reacting to events Making the best use of available resources Setting a path to achieve the lifestyle you

More information

Pan-Jamaican Investment Trust Ltd

Pan-Jamaican Investment Trust Ltd Pan-Jamaican Investment Trust Ltd Statement from the Chairman and President Pan-Jamaican Investment Trust Ltd. achieved marked improvement in its performance during 1998, a period in which the Jamaican

More information

Managed Services. Your 10-Week Guide to Becoming an MSP

Managed Services. Your 10-Week Guide to Becoming an MSP Managed Services Your 10-Week Guide to Becoming an MSP Managed services is one of the fastest-growing segments in IT services. U.S. revenues associated with the managed services market are predicted to

More information

4 Keys to Driving Results from Project Governance

4 Keys to Driving Results from Project Governance THOUGHT LEADERSHIP WHITE PAPER In partnership with Agile or Waterfall? 4 Keys to Driving Results from Project Governance You can t swing a project manager these days without hitting the debate of Agile

More information

Open Innovation: An Imperative for the Pharmaceutical Industry. Berkeley Innovation Forum

Open Innovation: An Imperative for the Pharmaceutical Industry. Berkeley Innovation Forum Open Innovation: An Imperative for the Pharmaceutical Industry Berkeley Innovation Forum October 28-29, 2010 Minneapolis, MN Ted Torphy, Ph.D. Vice President & Head External Innovation Research Capabilities

More information

Factoring Risk into Transportation and Logistics Sourcing

Factoring Risk into Transportation and Logistics Sourcing Surface Transportation Factoring Risk into Transportation and Logistics Sourcing In the face of continued economic uncertainty and heightened cost and margin pressures across all industries, many shippers

More information

Wireless M2M in the Supply Chain Achieving High Performance through Dynamic, Real-Time Insight. by Praveen Shankar

Wireless M2M in the Supply Chain Achieving High Performance through Dynamic, Real-Time Insight. by Praveen Shankar Wireless M2M in the Supply Chain Achieving High Performance through Dynamic, Real-Time Insight by Praveen Shankar Supply Chain Challenges Companies today do not have the luxury of relying on the tightly-integrated

More information

A EUROPEAN DEFENCE RESEARCH & TECHNOLOGY STRATEGY

A EUROPEAN DEFENCE RESEARCH & TECHNOLOGY STRATEGY A EUROPEAN DEFENCE RESEARCH & TECHNOLOGY STRATEGY An Introduction to the EDRT Strategy Alexander Weis, Chief Executive, European Defence Agency Enhancing the effectiveness of the European Defence Research

More information

Evolving MS from network efficiency to value creation

Evolving MS from network efficiency to value creation Evolving MS from network efficiency to value creation By John Darnbrough (Research Associate) & Kris Szaniawski (Principal Analyst), Informa Managed services are evolving from a focus on network efficiencies

More information

Industrial Internet & Advanced Manufacturing

Industrial Internet & Advanced Manufacturing Industrial Internet & Advanced Manufacturing Marco Annunziata, Chief Economist April 08, 2014 Imagination at work. The Future of Work Advanced Manufacturing + The Industrial Internet + The Global Brain

More information

Improving Financial Advisor Productivity through Automation

Improving Financial Advisor Productivity through Automation Wealth Managment the way we see it Improving Financial Advisor Productivity through Automation How wealth management firms are embracing change by developing next generation advisor platforms Contents

More information

PROPOSED ACQUISITION OF ATMEL CORPORATION

PROPOSED ACQUISITION OF ATMEL CORPORATION PROPOSED ACQUISITION OF ATMEL CORPORATION October 2008 Safe Harbor Cautionary Statement: Statements in these materials, including those regarding Microchip Technology Incorporated s ( Microchip ) and ON

More information

Merger Model Overview

Merger Model Overview Merger Model Overview We can divide the merger model into an 8-step process: The merger model tells you what happens when one company acquires another company. Usually, the buyer makes an offer to acquire

More information

Making a Bid for Profit

Making a Bid for Profit Making a Bid for Profit Your quick-start guide to becoming a profit-driven marketer A Practical Guide thinkwithgoogle.com 1 Introduction Recently, a number of marketers have started a new trend known as

More information

Advantages and disadvantages of investing in the Stock Market

Advantages and disadvantages of investing in the Stock Market Advantages and disadvantages of investing in the Stock Market There are many benefits to investing in shares and we will explore how this common form of investment can be an effective way to make money.

More information

Executive Leadership MBA Course Descriptions

Executive Leadership MBA Course Descriptions Executive Leadership MBA Course Descriptions MBA 608: Interpersonal Leadership and Managing Organizational Behavior (3 credits) This course provides rising stars learning opportunities to take the next

More information

Venture Capital s Role in the US Renewable Energy Sector

Venture Capital s Role in the US Renewable Energy Sector Venture Capital s Role in the US Renewable Energy Sector Abstract: This white paper describes the venture capital industry, its role in the development of a U.S. renewable energy sector, and the aspects

More information

Digital Insurance Era: Stretch Your Boundaries

Digital Insurance Era: Stretch Your Boundaries Accenture Technology Vision for Insurance 2015 Digital Insurance Era: Stretch Your Boundaries EXECUTIVE SUMMARY INTRODUCTION A new We Economy is bringing change to the insurance industry whether carriers

More information

Four distribution strategies for extending ERP to boost business performance

Four distribution strategies for extending ERP to boost business performance Infor ERP Four distribution strategies for extending ERP to boost business performance How to evaluate your best options to fit today s market pressures Table of contents Executive summary... 3 Distribution

More information

EFX LINK. The Untapped Potential for Financial Institutions: Driving Growth in Small Business Products

EFX LINK. The Untapped Potential for Financial Institutions: Driving Growth in Small Business Products EFX LINK The Untapped Potential for Financial Institutions: Driving Growth in Small Business Products OVERVIEW Now more than ever, financial institutions face continued pressure to drive revenue growth,

More information

Digital Acceleration Center Singapore. Inspire. Envision. Transform

Digital Acceleration Center Singapore. Inspire. Envision. Transform Digital Acceleration Center Singapore Inspire. Envision. Transform Responding to what s ahead. Faster. Digital is nothing short of a revolution. With technology lifecycles reducing and an increasingly

More information

Open Innovation Help Desk

Open Innovation Help Desk Open Innovation Help Desk Leaders have to act more quickly today. The pressure comes much faster Andy Grove No man is an island Two heads are better than one sayings we are all familiar with. They both

More information

IT Cost Reduction. Doing More with Less. Anita Ballaney, Vishwanath Shenoy, Michael Gavigan. Strategic IT cost reduction - Doing More with Less

IT Cost Reduction. Doing More with Less. Anita Ballaney, Vishwanath Shenoy, Michael Gavigan. Strategic IT cost reduction - Doing More with Less IT Cost Reduction Doing More with Less Anita Ballaney, Vishwanath Shenoy, Michael Gavigan Strategic IT cost reduction - Doing More with Less The current economic climate will force all businesses to thoroughly

More information