I had an opportunity to catch up with the Insightful and prominent voice of the Technology Information Industry, Jay McBain, Chief Analyst with Canalys. During the podcast, Jay and I discussed the shifting ecosystem of partnerships and how crucial for organizations to understand and adapt to thrive in this dynamic landscape.
The emphasis on partnering with value-driven companies is essential because these organizations prioritize the Total Cost of Ownership (TCO), which involves considering the entire cost associated with a product or service over its lifetime. This approach goes beyond just the initial Point of Sale (POS) or getting the best price and instead focuses on delivering comprehensive value to clients throughout their journey.
The value-driven companies focus on education being provided for their organizations, research, conferences, consultation, design, implementation, integration, and support, indicating their commitment to providing holistic solutions and excellent customer experiences. In today's IT industry, the Services Driven Playbook accounts for two-thirds of its worth, amounting to a 5 trillion-dollar industry.
Understanding the layers involved in making a successful deal happen is crucial. Subscription and Consumption-Based models have gained prominence, as they offer flexible and scalable solutions for customers while ensuring continuous revenue streams for businesses.
One essential aspect of these partnerships is customer satisfaction and advocacy. When customers have positive experiences and express their satisfaction with an organization, it helps retain them and attracts new customers through word-of-mouth recommendations.
Overall, Jay and I have a comprehensive conversation recognizing the significance of partnerships and the points of value, such as TCO, customer satisfaction, and the adoption of relevant Value Driven business models, which will undoubtedly contribute to the success and growth of organizations in the information technology industry for years to come.
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