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High Value Analytics: framing the value capture featuring Rudi Pasternak, Qlik — Transcript

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0:00Hello everyone and welcome back to our
0:03podcast on high value analytics and I'm
0:06joined today by two guests Rudy who
0:10holds uh uh strategy advisory role at
0:14click and actually brings the um a
0:18framework
0:20uh on which we are building high value
0:22analytics and uh Ramonas who is a head
0:25of high value analytics at infotrust. So
0:29guys, welcome back to the show and uh
0:33nice to have you here. Rudy, in our
0:35first podcast, you I clearly remember
0:37one one phrase that you mentioned that
0:40you cannot buy uh competitive advantage
0:43with the tool. You are creating it by
0:46applying that tool into the practice.
0:49>> So but you have a very clear value
0:52framework behind you that you are
0:53bringing on the on the table. Could you
0:55please share what this framework is all
0:58about and why it works?
0:59>> Yeah, in a nutshell, this framework
1:01supports uh decision making and aligns
1:04initiative in the uh organization like
1:07buying and using an analytics tool to
1:10achieve competitive advantage with the
1:12core competencies of the organization
1:15and aligned with external factors which
1:18are relevant uh for the operations of an
1:21organization. So every every journey
1:24starts from somewhere. So how is this
1:26framework being applied? Um let's let's
1:29set first the stage of um the vision and
1:32understanding um how companies um
1:36related to the maturity uh can access
1:38it. So usually it starts with
1:40understanding what your business does.
1:41This is your core competence and your
1:43core competence is constantly pressured
1:45by external factors like monetary policy
1:50um disruptive supply chain uh global
1:52events um and so on and so forth right
1:56um and those things have impact on
1:58certain KPIs in the organization um and
2:02in order to
2:04improve or to preserve those KPIs you
2:08do certain activities certain things
2:10Right. So if we put it into the context
2:12of analytics and buying a tool, uh you
2:15would try to align the tool to your core
2:18competency to battle external factors
2:20and improve KPIs.
2:22>> So the next question would be how do I
2:25identify where I have to work on right?
2:27>> There are two um categories where um
2:30which you can apply. One is um the risk
2:33perspective. So there are risks and
2:35opportunities out there. risks is
2:38something you have to react to like
2:39regulations, right? So if you don't um
2:43adjust your operations to the regulatory
2:46requirements, you would get fines um
2:50etc. Right?
2:51>> But opportunities this is something you
2:54have to want to follow, right? So um and
2:59this is where you then where it decides
3:02how your organization approaches change
3:04on how you will monetize on that
3:06opportunity. For example um AI is out
3:09there everywhere right and organizations
3:11it forces organizations to change
3:13actually and um it depends on how you
3:16approach the change. So um and that's
3:18where the framework comes into the game
3:20right if you know that you have um
3:22opportunities out there in the market
3:24which uh if you uh follow and um do
3:28these opportunities you will receive
3:30value. This sets the scene derived from
3:33there you can define goals in order to
3:36improve the KPIs um with your operations
3:40and in order to find the areas which you
3:43have to improve in operations. We are
3:45then looking at uh the pain points in
3:47departments. Um after we identify the
3:51pain points, it's pretty easy and
3:53straightforward to quantify them and um
3:57this will give you a view on what will
4:00happen to your organization if you
4:03eliminate those pain points, achieve
4:04that goal, improve the KPIs and battle
4:06the external factors. So it's connected
4:09end to end and um basically
4:12interdependent within each other, right?
4:14So this framework helps you to
4:16understand what to do before um uh
4:20change happens and what impact the
4:22change will have and derived from there
4:24is the next step because um you just you
4:27mentioned earlier using the tool is key.
4:30How you use your um uh technology
4:33enablers within the organization
4:36um will determine what value you will
4:38get right and the next important step is
4:40the implementation. So without using the
4:42tool there will be no value. You have to
4:44implement it. You have to adopt it and
4:47uh this is basically the framework front
4:48to back from external factors to uh the
4:52implementation. Yeah, I like the the the
4:54moment that you said that actually the
4:56framework helps companies to adjust to
4:59the change which is inevitable, right?
5:01Change is inevitable in our market and
5:03then uh calculate value what uh what to
5:08address then calculate value and uh
5:10clearly see what impact you can do and
5:13use the right tool for it and then start
5:15build it build and for that we have
5:18Ramonus. Munes uh you applied this
5:21framework that Rudy just on a high level
5:23described we are going to dive into it.
5:26>> Okay. So first of all I would like to
5:29start uh just remembering the very
5:31beginning when we started to talk to
5:33customer to specific case there were few
5:36uh few words said like we have a tool uh
5:40we have a lot of data but we have no
5:43value. So the tool was uh very low
5:45usage. the data was not uh accurate
5:50um and no one could identify where and
5:54how to to get the value. So this is the
5:57first touch point where the value
5:58framework was very much needed in to
6:01apply and to find the way to set up the
6:04road map how to derive the needed
6:08drivers and deliver the value for
6:10business. Uh shortly about the company
6:13itself. It is in a highly volatile
6:15market segment and uh the segment is
6:19divided in the three major sectors like
6:21minerals and metals, commodity sector,
6:25it is agriculture sector and it is
6:27energy sector. All these sectors change
6:31shares the same challenges which are
6:33related directly to volatility in
6:35general the price fluctuations in the
6:36market. So our case is an ar agriculture
6:40commodity sector. It's a company uh
6:43producer who is like a primary and same
6:47time secondary processor of the grains.
6:51uh and the main challenge we have or
6:53let's say the process itself the core is
6:56to make sure that soft commodity raw
6:59materials are um uh efficiently
7:04converted into market ready products
7:07which are being sold as well in the same
7:09market and in in in similar industries
7:11the intermediate processor faces uh
7:15two-sided risks. So one is input part
7:18where you you buy a raw material and the
7:20changes are happening every day and on
7:23another hand what you produce with your
7:25cost depending of the uh input prices
7:29you sell in the market and the price in
7:31the market again it depends what what is
7:34willingness in the market to pay for
7:36your product. So in both from both sides
7:39volatility comes and the pressure is
7:41very huge. So in general agriculture
7:43sector as such is the most volatile
7:47among the commodity segment industries
7:51and uh it has I would say the highest
7:55vulnerability
7:57uh of the margin. So the solution has to
8:00help uh exactly what solution does. It
8:03helps to take a decision immediately
8:05when the changes occur not waiting and
8:09uh and and and doing running long
8:11process of calculation, assessment, uh
8:15simulation and so on. You have to react
8:17immediately. So this gives ability to
8:20take a decision which is uh with very
8:22high quality decision applying all the
8:25elements
8:26uh and and clearly knowing what margin
8:28you are going to have after decision.
8:30>> Thank you Ramonus very clear regarding
8:32the solution and regarding the company.
8:34So let's now combine how actually step
8:38by step it was implemented and if I
8:39understood from Rudy's framework that he
8:43just laid uh ground for the first step
8:46in the framework is the addressing uh
8:49external and internal factors that
8:52company is facing in your case what was
8:54the internal and external factors that
8:56the company facing and how you address
8:58them.
8:58>> Okay. Uh sure it is the first step uh
9:02you have to look at the company in
9:04relation to market right and it is
9:06external factors uh as you know it is
9:09inter intermediate processor in a
9:11commodity market. So the main touch is
9:14first of all raw materials. So the raw
9:16materials they buy it is raw materials
9:18in this specific case it is a grains
9:21wheat what we are buying for to produce
9:23the product also we buy energy we buy a
9:27lot of chemicals from the market many
9:30many other components which are a core
9:33part of the cost structure for the
9:35company and we can't affect anyhow how
9:38the prices are changing in the market.
9:40So the first point uh for us it was very
9:43clear to understand where we exactly
9:46these factors like a price of raw
9:48material components and chemicals uh
9:51goes into our company in which places
9:53are affected immediately. So in
9:55particular it is very clear related to
9:57product cost uh which we are producing
10:00and selling. A second point I I would
10:02also mention that there is internal
10:04factors affecting uh uh changes in how
10:09the the margin is generated itself. So
10:13at this specific case we very clear
10:15sorely identified that uh there is uh
10:19many big disconnecting between
10:22departments. There were no sharing of
10:25the data
10:26uh very low automation. That's why the
10:29tool was uh in a very low usage and um
10:34uh there were many many repeated
10:36processes which were done or organized
10:39independently in each department which
10:42meant that departments with their
10:44decisions are not affecting other
10:46departments and there are no
10:48collaboration which means if you want to
10:50go uh if you want to to be fast to react
10:55to the change in a market both sides has
10:58to be managed well enough. It means uh
11:01the first point you have to know very
11:03well how you react to market change and
11:05are you able to react fast to to
11:08internal factors. There are some things
11:11which doesn't work like data accuracy,
11:13connectivity between departments,
11:15automation, uh data flow between
11:18departments so that everyone could
11:20collaborate and finally take a decisions
11:22which drives the margin increase or
11:24securing the margin for future.
11:27>> All right. and uh how you would
11:29summarize those external factors
11:31application Rudy in in uh Ramuna's case.
11:35>> So um related on uh related to the
11:37example um of margin simulation there
11:40are different external factors. So uh
11:42Ramonas just laid out the example and uh
11:44derived from that one external factor is
11:47the um input price. You don't have any
11:50control about the input price. Um the
11:53next uh another external factor could be
11:56the regulatory environment and one which
11:58is really important is the supply side
12:00shock. So there can be um a lot of
12:03supply available or no supply available
12:05due to economical circumstances, global
12:09events and so on and so forth and those
12:11impact the organization their core
12:13competency and in this use case secure
12:16in margin and then there is also an
12:18internal factor which Ramun has
12:20mentioned which is the complexity of the
12:22process. This process consists of seven
12:25departments where a decision is made in
12:27one department and then processed
12:28downstream. So um and there are also
12:32other examples right. So for example if
12:34the inflation is rising you want to um
12:38um utilize or improve working capital in
12:41order to improve treasury yield. So
12:43there is a connection and this proves
12:45that the framework can be applied uh to
12:47any situation.
12:49>> All right. So we are clear with the
12:51external and internal factors that
12:53company face. This is the phase one in
12:56the framework creation uh process. So
12:59what are the next steps in the process
13:01here in uh when how you apply them? Well
13:04uh as the next step uh we started to
13:07collect all pain points across all
13:09departments and the goal of his
13:11collecting pain points was for us to
13:13understand very clearly each department
13:16uh what we are uh what processes they
13:19have what data they use what tools they
13:22use uh what pain points each of them has
13:26and uh also to identify what they are
13:29sharing as a same issue or same
13:32challenge among each department. So we
13:35started a business discovery sessions.
13:36We went through every department. We
13:39discussed with uh many business teams.
13:42We made a a huge matrix of pain points
13:46and identified exactly this uh most
13:49important or mostly shared uh data
13:53points, processes and what each
13:56department is producing as a outcome
13:58which has been shared either internally
14:01I shared with our departments. Overall
14:04all these decisions in in independently
14:07from each other we were creating in one
14:10another way is a must for ours and
14:14that's how the process in general looks
14:16how we are processing the let's say the
14:19core decision on pricing and how we are
14:22securing the margin and exactly how we
14:25are reacting to the external factors
14:27which uh are impacted uh department by
14:30department
14:31>> and how many points in your case you
14:33collected Actually uh we collected more
14:36than 20 pain points. It was much more
14:38but uh we
14:41set 20 uh because there there was at
14:46least for us from our side we clearly
14:48saw it has either minor or the major
14:51impact to the core uh uh core
14:55information every department was needed
14:58to take a decision a secure margin. So
15:01we were focusing uh also uh linking to
15:05the organizational goals. So we can't do
15:08everything. We have to select something
15:10prioritize and identify the biggest
15:14impact to the processes and measures or
15:17or or results produce each department
15:20which contributes the main goal. It's a
15:23securing margin and uh improving risk
15:26management and organization at such.
15:28Mhm. very very clear Rudy in this uh
15:30second step regarding uh collecting the
15:33pain points in the according to the
15:34framework what is important things we
15:36talked about the external factors right
15:38and that they are the guard rails for
15:41your initiatives and in the next step
15:43when you um do as Ramonas mentioned the
15:46discovery session you want to get into
15:48the weeds and understand how you can
15:50battle that external factor uh and what
15:54uh activities are contributing to
15:56improving that actually right and um
16:00therefore it's important to understand
16:02based on the perfect process you need to
16:04have some kind of a um state-of-the-art
16:08um um target state towards towards you
16:10are working right and uh those pain
16:13points have to anchor to something so we
16:16utilize this um happy path in the
16:18example which Ramun has mentioned in
16:20order to understand um um which
16:24department in which process step has
16:26which business objective ives what are
16:27the KPIs to measure their um um um their
16:31activities and what are the activities
16:33performed um um for that specific
16:37department and uh it goes across seven
16:39departments we identified over 20 pain
16:41points so it's a really complex process
16:43right so um it was important here to
16:46evaluate the discussions we have and
16:49visualize them and therefore we use then
16:51um a heat map to show the complexity
16:54because the red areas are the ones which
16:56are bad. So you have to look at them
16:58right. Uh we identified
16:59interdependencies and then produced an
17:02opportunity profile which is a um
17:04evaluation of the heat map um um along
17:08two dimensions. So one was strategic
17:10importance. So how important is the pain
17:13point for the organization and what is
17:16the pain intensity and behind pain
17:18intensity is for example um that
17:21everything is manual no um IT enablement
17:24and uh basically a paper process right
17:27this would be like the the lowest um
17:30point of a scale and um the highest
17:33point would be that you are already
17:34enabled and don't have any pain points
17:36and somewhere in the middle will be the
17:38truth right and derived from there um
17:41you can then um derive measures in order
17:44to improve the pain points.
17:46>> All right. And how you are waiting those
17:47pain points on the axis of the pain and
17:50the strategic importance who is giving
17:52the weight to the specific pain points
17:54in Ramuna's case it was 20 how how you
17:57are actually putting the gravity on the
17:59painoint.
17:59>> Yeah.
18:00>> To not over complicate the process in
18:02such complex environment um we did a
18:05qualitative measure right. So we talked
18:07with the people about how they perceived
18:10this the strategic importance of this
18:12specific uh pain point or opportunity
18:15and what's the pain intensity. So there
18:17were qualitative measures behind it. No
18:19hard facts let's say the hard facts were
18:22derived in the next step but Ramonus
18:24will give insights on how we did this.
18:26>> Let's dive into exactly this next step
18:29then what is the next step Ramonus? I'm
18:31I'm eager to hear. So uh after we
18:33discovered all pain points among each
18:36department uh we had a a clear big list
18:40of uh pain points we we we were not sure
18:44which painoint will have a biggest
18:45impact into result for whole
18:49organization. So uh going by each
18:53department we were calculating the the
18:56impact we can we can give or will affect
18:59the total result and we went step by
19:02step of course uh the first point was
19:06like a commercial organization like a
19:08pricing or we call it a trading desk who
19:12uh who clearly had to have production
19:14cost in order to set up the right price
19:17sale selling price where the margin
19:20comes room. So uh this was very clear as
19:23an angle which we had to start with but
19:26it was not enough because this effect
19:28few% of margin effect gives enormous
19:31value for their company but they can't
19:34do it alone. So near to them next uh
19:38immediately is like procurement
19:40uh who based on demand what commercial
19:43people are forecasting the demand what
19:45they are going to sell they should plan
19:47immediately the purchase part using many
19:51techniques how to buy it the next to
19:53them immediately comes production
19:55because production team has to uh
19:58forecast production cost. So it is a
20:00combination. First point which we find
20:02out that it is a combination which
20:04joining them together commercial people
20:07can improve margin uh improve it by one
20:112% means already millions procurement
20:15secures the raw material will be in
20:17place and also buys it with a cheap
20:20cheaper price or hedge it depending on
20:23the situation
20:25which tools they will use. uh production
20:28team can ensure that the production cost
20:32will be not higher than this and this
20:33and this and same way reducing
20:36production cost reducing raw material
20:39purchasing and increasing sales price
20:41because you are competitive uh reacting
20:44quickly and winning the opportunities in
20:46the market. So it was a main setup where
20:49we saw clearly that the margin uplift
20:52would be a core driver which uh involves
20:56everyone around in order to to give this
21:00data tool and ability to take business
21:03decisions and move forward to to this
21:05direction. So the sales department,
21:07procurement department and production
21:09department you found out contributed the
21:11margin leaks and you calculated the
21:15amount actually how much uh in value it
21:18is actually leaking in the company. Do I
21:20understand correctly?
21:21>> Exactly. Uh actually I would say that uh
21:24not a single department go can go alone.
21:28It's it's it's a business or let's say
21:30it's it's a decision based on many
21:33departments as a joint decision. But
21:36definitely yes. Uh this was the core uh
21:40which clearly saw that either either
21:42company can't win opportunities and
21:46increase same as revenue and margin.
21:48When you quickly win opportunity margin
21:51is always higher because you react fast.
21:54You offer the best price. Sometimes the
21:57price can be higher but you are fast to
22:00supply the demand which gives a huge
22:02business
22:04competitive advantage in one case on
22:07another you can plan very clearly few to
22:11future which material then you will
22:14need. Therefore, you can uh you can use
22:17many financial uh instruments like
22:20hedging and so on or buying uh raw
22:23material into into your warehouse uh
22:27just to to to make sure that you can
22:30supply the demand. So it was a
22:32collection. So uh commercial people very
22:35clearly um we calculated with them that
22:38few% of margin can give millions. At one
22:41point production team could plan their
22:43capacity and can ensure that they will
22:47produce what's been asked by commercial
22:50people and procurement they will deliver
22:52it and logistics who will deliver on
22:56time to customer where the customer
22:58service level also goes up customer
23:00service going up revenue goes up same
23:03the margin comes together so it is a
23:05combination and it's very clear that
23:08only join it together they could deliver
23:13the highest value by very high quality
23:16of business decisions. M very very clear
23:19Rudy and and in this uh value deriving
23:23actually to numbers you mentioned it's a
23:25qualitative at the beginning uh in the
23:27matrix now it's actually tangible it's
23:29already real value how you are like
23:32getting around this complexity is it
23:34easy to calculate this what Ramonus is
23:37mentioning over it you have to have like
23:39a high degree in mathematics to get it
23:41done
23:42>> so once you have the pain points it's
23:43actually pretty straightforward right so
23:46um you have identified already um where
23:49the issues are or where the
23:51opportunities are which if improved or
23:54if followed uh will provide value. So
23:57now it comes down to create a um um a uh
24:01calculation model which shows uh the
24:04improvement into in three different
24:06buckets. One is uh topline. So how much
24:10more revenue can the tool help us to
24:13achieve? And I say on purpose help us
24:15because um using and buying the tool
24:18will not create more revenue. Um it's uh
24:21about yeah utilizing it in a certain
24:23context. And the other one is
24:26operational scalability. So how much
24:28time um through this improvements can we
24:31save our business people so that they
24:33can focus more on value generating
24:34activities rather than addressing
24:37interdependencies and manual overhead.
24:40And the other one is bottom line. So um
24:43how did we do this? How did we approach
24:44it? So we talked earlier about activity
24:47level. Everything starts from there. If
24:50you understand what um is being done
24:53across the process on activity level,
24:55you can easily identify the asis, you
24:58know the people involved into the
25:00process, you know the department, the
25:02pain point, the activity people involved
25:04into the process, how much time they
25:06spent there, um what the cost is. So you
25:09get a view on the process intensity. um
25:12and um and the departments they do this
25:15activities in order to improve certain
25:17KPIs and to achieve a business
25:19objectives like um increase the margin
25:22right just mentioned how the dynamic
25:24work at the organ at this um company at
25:27this for this example and um we
25:30basically um laid it out in the value
25:33calculation model what is the
25:35operational value so how much time can
25:37you save what which KPIs are being
25:39improved so what uh revenues streams do
25:42we actually enable and uh since click
25:44can um cover the whole use case end to
25:47end from collecting the data until
25:49producing the business outcome um we
25:52were also able to consolidate the vendor
25:54landscape which um is a huge benefit for
25:57it. I mean there is a lot of shadow IT
25:59there. Business sometimes procures their
26:01own systems in order to um act fast
26:05right and it produces overhead for other
26:07departments. Brings us back to um the
26:10dependencies right. So there are
26:12different beneficiaries and uh one of
26:14the bene uh one of the benefits was also
26:16that we could consolidate the vendor
26:18landscape.
26:19>> So both parts the revenue and also the
26:21costs and what I'm hearing the total
26:23cost of ownership went down sign
26:25significantly. Yes, correctly. And this
26:28was due to the consolidation of vendors
26:30since this reduces the overhead in
26:32managing the tool uh managing um the the
26:35connection to the business users and so
26:37on. So um there were benefits for
26:40everyone involved.
26:41>> So uh we we have a a clarity on external
26:45and internal factors. Then we have a
26:46clarity on the pain points and we went
26:49through all the processes with each of
26:51department. Now we have quantified that
26:54pain points into real monetary value
26:56from both revenue side top and then
26:59bottom line to costs to costs. So what
27:02do you do with this beauty? Raunus how
27:04do you what now let's implement or what
27:07please?
27:09uh yes we have to implement once once it
27:12is on paper on discussions somehow we
27:14have to implement uh and here um I would
27:19uh I would also retain a bit when we
27:21touched a bit about the company's goals
27:24I want to remind that one of the
27:26company's goals which were very clearly
27:28expressed by top management they wanted
27:31to change their culture from volume
27:34selling volume to value and which very
27:38well connects to again these pain points
27:41and the the core processes which drives
27:43the margin. So this goal meant that we
27:47have clearly focus uh on the processes
27:51tools and people together
27:53>> which drives exactly uh the value
27:56creation in particular case is margin
27:59and it's even not revenue it's a margin.
28:03Uh so this was a task for us to find out
28:07of all these pain points uh processes
28:12people and also technology which was in
28:15place by the way when we started to find
28:17very clear road map uh what what from uh
28:21where from to start and what are the
28:23priorities how we have to from which
28:26point we have to start because uh to to
28:29run immediately on the margin simulation
28:31with dynamic margin management one of
28:34the processes or engines which is
28:36empowered into dynamic margin management
28:38was not very much possible because uh
28:41this simulation required many many
28:43elements.
28:43>> Interesting.
28:44>> So we started to sort out what is the
28:47first what is second what is uh third
28:49and so on. Definitely the first point
28:52was uh the data collection and make sure
28:54that the data corre accuracy of the data
28:57is uh good level of high quality in
29:01order you feed all the rest of
29:03processes. So so this was as a pain
29:07point uh or let's say the first priority
29:11which had we had to solve looking as a
29:14common dominator among all the
29:17departments. It's a market data feed. So
29:20the first common denominator
29:23uh which was shared among all the
29:25departments was market data feed. It's a
29:27data accuracy and it's not like a
29:30dashboards from the market. It's
29:32integrated data into the system which
29:35means that real time I touch that data
29:38once it changes I immediately see the
29:40change and I know how I have to react
29:43because I have a process I have
29:45understanding how to do a business
29:46decision. So it was one point uh it
29:49stand as a first priority what we had to
29:52do. The second one which was also uh
29:56very clearly
29:58identified among everyone uh it was like
30:01bill of materials it's recipes we talk
30:04about producer they are producing
30:06products. So all core processes are
30:09based on bill of materials on recipes.
30:12Well, RP system runs a huge algorithms
30:16process calculating what the actual
30:18production cost is. But this was not
30:21enough because we had a clear goal to
30:24secure margin which means it is a future
30:28system is not producing future. So what
30:31we had to do is take the same logics of
30:34the algorithms and
30:37bomb or bill of material calculation and
30:40implement as a one of the future one of
30:42the we call it margin simulation engine
30:45part and run the same algorithms in
30:48analytics in order we could immediately
30:51take market price many changes and uh
30:55the same time near real time or real
30:57time give to people clear understanding
31:00Once in the market forecast price
31:02changes where my production cost will be
31:04affected in all the levels of the
31:08recipes we use. And the third point was
31:11uh volume outflows which is uh which was
31:15as well very important aspect as a as a
31:18as a data sets let's say because once
31:22you produce you buy uh raw material
31:26which is like on one unit of measure you
31:30produce you convert it into different us
31:34measures and when you sell you have a
31:36third one. So if you do not automate
31:39this, people use a lot of time manually
31:42to do this. So if you if I have a
31:46inquiry, let's say let's sell 10 tons of
31:50this product. So for me as a commercial
31:52guy is 10 tons. For producer who runs a
31:56production process, it's not 10 tons. It
31:59is much much more. And finally for
32:02procurement team it can mean even
32:04differently because it's a different
32:07packaging they buy and so on so on. So
32:09it was a third element which was very
32:11important implement and uh and all of
32:15them combined we could finally arrive to
32:18to margin simulation
32:20>> which means that external factor gives a
32:24clear trigger. We have a notification
32:26price changed it has to run through all
32:29the process and all interrelated
32:32departments immediately knows how much I
32:35have to buy what capacity I have to
32:37grant to produce and what tones
32:40commercial tones I'm going to sell and
32:42finally I can say my commercial tone
32:45price should be at this level not lower
32:47not higher not higher because I have to
32:49be competitive not lower because my
32:52production cost is going to be like that
32:55So all this is related and and bearing
32:57in mind this is complex process of uh
33:00developing such algorithm and engine of
33:04course gave us very clear understanding
33:06step by step. So we started from data
33:08collection integrating the data then
33:11sales data sales applications with uh
33:14forecast demand forecast then uh uh the
33:18sales volumes uh customer orders
33:21inquiries and conversion into
33:25uh raw material equivalents and uh next
33:29step then production production cost
33:31calculation applying
33:34fixed cost variable cost environmental
33:37cost comes from the market and finally
33:40conversional measure of units. Once we
33:42know what we want to sell, procurement
33:45and production immediately knows their
33:47own quantities they have to process. So
33:51that was the road map which where from
33:53we started
33:55uh data integration collection sales
33:57data ordinary sales data sales operation
34:00processes then forecast budgets then
34:04demand to produce and finally production
34:07team a demand to buy a raw material. So
34:10step by step we were implementing
34:12application after application and as a
34:15final uh final po point we arrived to
34:20one core application where the engine of
34:22margin simulation started to work.
34:25>> Yeah it's magically appeared that core
34:27application in your conversation just
34:30correct me if I'm wrong. You actually
34:32had to do a lot of homework because
34:34before actually starting to work like a
34:36streamline the data quality and all that
34:39stuff that needs to be taken care of
34:41before the product actually takes shape
34:43in the application and uh how difficult
34:46it was in your case and um like how did
34:49you manage this?
34:51>> I would use more word like not difficult
34:53but challenging.
34:54>> Okay.
34:54>> Because difficulties are everywhere. uh
34:58challenges drives with very clear
35:00motivation what you want to achieve the
35:02most important point goal if you have a
35:04goal and objectives what you need to
35:06achieve once you know it the main I
35:10would say what we met and what we
35:12experienced during that case it's very
35:14important on time to say what not to do
35:17because there is always a way to do
35:20simpler faster
35:23uh and uh deliver a result in much
35:26shorter terms that it will not be
35:30longlasting.
35:31So if you understand that longlasting is
35:34a must and you have a goal to secure the
35:38margin and make sure that we can see far
35:41to future what we are going to have how
35:44we securing the margin. You have we have
35:47to look for longlasting decisions. So
35:51the challenging point was uh to be on
35:55time with a decision please not do this
35:59and this was very important and all the
36:02rest it's like every organization has
36:04master data correctness transactional
36:07data correctness recordifications
36:09master data recordification
36:11transactional recordification every
36:13organization meets the same challenge
36:15but uh our focus was we knew why we do
36:18this and We always were clearly
36:22connected to one goal to build a margin
36:25simulation engine and it was not
36:28possible without all the team all the
36:30departments that's why the road map
36:32itself was very important uh this is uh
36:37the starting point we started but I also
36:40can say that when we started after the
36:42road we agreed with management uh this
36:45road was adjusted many times because
36:48during The process when you are having
36:50this journey you always discover
36:52something new
36:54>> even not new but the market environment
36:57changes new factors arrives new changes
37:01comes from from the market and there are
37:04something which you definitely cannot
37:06control who could say that the war will
37:10start in some country and will affect
37:12energy prices spikes
37:15>> so you no one was ready for that but
37:17it's a question are you able react fast?
37:21>> So if you can react fast we can take
37:23quickly decisions and we can manage the
37:25risk. So this uh margin simulation
37:28engine also what gave uh it improved and
37:32fueled I would like I like to say fueled
37:35the process of risk management
37:38>> because uh risk management covers all
37:40the organization. There are many many
37:41many initiatives,
37:43disciplines in in a risk management. Uh
37:47as as soon you can see the effect on
37:50your organization, what changes outside
37:52your organization as better you manage
37:55the risk.
37:55>> Mhm. All right. Thanks, Amunas. Uh Rudy,
37:59in in when the when the uh factors
38:03external factors are clear, uh pain
38:05points are clear and fine-tuned and they
38:08are uh how to say quantified. Now the
38:10building process as Ramona said starts.
38:13How uh framework applies in the building
38:16process? If you can add anything to what
38:17Ramona said.
38:19>> One component of um being successful is
38:22implementing right and this is a part of
38:23of the of the process we follow when we
38:27uh apply this strategic discovery um um
38:31approach. So um and what we have
38:34achieved so far is now that we know what
38:38change will mean for our organization
38:41from operational um uh model
38:43perspective. So what changes in
38:45operations? What are the pain points?
38:47What do we need to tackle? Um what is
38:50the value we get from it? How does it
38:52connect to our goals and which external
38:54factors is it battles? Right? And this
38:56happened all before um a single tool has
39:00been deployed. So that's what we mean.
39:02You have to get the visibility before
39:05you do the change. Um the other extreme
39:07is and this is what companies often do.
39:10Um if some event occurs then you want to
39:13have short-term solution and it's often
39:15about cutting something doing something
39:17fast and it leads to what Ramuna said.
39:19Um you can have fast results but they
39:22have to be integrated. So you want to
39:24know if a um intent signal from from the
39:27market or a signal from the market is
39:29coming. Uh and if you don't have any
39:32control about your input price, you need
39:34to have and that brings us to the
39:36implementation um the right solution to
39:38tackle that. So how how did um how did
39:41and Ramon has already described it. How
39:42did we tackle it? Right? It all starts
39:44with something and this is the data
39:46foundation. So you needed to integrate
39:48internal data sources and external data
39:51sources near real time in order to make
39:54pricing a pricing decision and then
39:56downstream um uh follow the process. So
40:01the next step in the framework is the
40:03resolution priority and this is derived
40:06from the value you get from the
40:07interdependencies which you understand
40:09going through that process right and uh
40:12then you can as I mentioned derive a
40:14resolution road map in order to tackle
40:17in phases what needs to be done to
40:20achieve the endto-end uh value um for
40:23this initiative right and since we are
40:26talking about phases and the downstream
40:28process um it's easy to phase it out
40:30because one step is dependent on the
40:33other and you have a clear flow on what
40:35to do. So um you get the value fast
40:38because you see results also fast and um
40:42that's one benefit of knowing how how
40:44you how an organization will be impacted
40:47and then deriving the resolution um
40:50priority from there in order to bring
40:52the value on the ground.
40:54>> All right. And maybe another example,
40:56right, to put it into a different
40:57context and so show the flexibility um
41:00of this approach. Um for example, if you
41:03want to improve treasury yield um
41:06because of inflation, you want to make
41:08your money in the organization um worth
41:11more or leverage it more, right? And for
41:14that you need to increase your working
41:15capital. Um it is pretty high level now.
41:19So how do you tackle it actually, right?
41:20The procurement department and finance
41:22department is a key here. So you need to
41:24understand what are the payment terms
41:27with the suppliers for example in order
41:29or ra so not to maybe you then decide
41:33not to realize early payment discounts
41:35but rather extend the payment terms so
41:37that you can keep your cash longer in
41:40the organization working capital and
41:43then um um use it to get treasury yield
41:46for example from your financial um uh
41:49products. Good example Rudy on on that.
41:52All right. So we are already on the
41:55stage that uh our product takes shape
41:58right but uh real people in the
42:01companies need to start to use it right
42:04and this is how you get adoption going
42:07for for the solution that you have built
42:10under the framework that Rudy very
42:12eloquently described. What are typical
42:15challenges in in adoption period uh for
42:18the solution in your specific case
42:20please?
42:20>> Well uh talking the the case we were in
42:24with our team of course uh first first
42:26point without which is absolutely not
42:29possible to start any
42:30>> you mean team
42:32>> team. Yes, a team from our side but also
42:36we have to have a team from customer
42:38side with same attitude, same vision,
42:41same goals, sharing the goals and
42:43understanding where we are heading it's
42:46very important. So uh as we already
42:49discussed we had like priorities like uh
42:52the the the
42:54uh the road map we understood we have to
42:58start with out of always plenty of pain
43:02points. So the first point here I I
43:05definitely want to mention mention that
43:07the customer had a really really strong
43:10uh leader who was the first person in
43:14the customer office let's say or offices
43:16who took responsibility understanding
43:19the goal and uh we were very much
43:22aligned between us what we are going to
43:24achieve and how we are going to achieve.
43:28We knew we we quentified we quantified
43:30the value where we can uh to to achieve
43:33this value. Now to achieve this we had
43:35to meet also certain criterias and we
43:39had to implement even new processes in
43:42some in some cases change roles between
43:45people and so on so on. So the first uh
43:48point was the leadership from customer
43:50side and it was really strong leader who
43:52took responsibility and we were very
43:54much aligned. Now of course uh another
43:58important point the sponsorship in the
44:01customer organization was as well strong
44:04what I mean it's a top management
44:06alignment with top management as well so
44:09top management was aligned and we saw
44:12what we can deliver we promise we we we
44:16came with a promise it can be delivered
44:18according uh also according the value
44:21framework it was very clear that all the
44:23process we did we applied failure
44:26framework all the indications showed we
44:29can do this.
44:30>> It was very clear that we can do this.
44:32So top management believed said okay we
44:34have to do we have to change our
44:36organization. We have to change culture
44:38from volume to value. This was like a a
44:42main idea of the top management how and
44:45why we need to change because focusing
44:48on value you do not need to rush volume
44:51but you start caring customer and
44:54delivering value to customer and that's
44:56why the value comes into the company as
44:58well. So we had top management,
44:59sponsorship, we had very strong
45:01leadership, a person who took
45:03responsibility in all change management
45:06and when we step in into process that
45:09and and we we decided to go on prototype
45:13iterative way uh before starting uh
45:17educating and teaching people to use it,
45:20we had to build something which
45:22immediately was could be a tool to touch
45:25the business people and to Understand
45:28what we are building not as a final
45:31product but step by step piece by piece.
45:34We do first step we do a prototype we
45:36run one two three five iterations. It
45:39depends on how fast we arrive to certain
45:43requirement fulfillment. And this was
45:45the way we could demonstrate to all
45:48business people who were involved in
45:49that project that uh all we discussed,
45:53all we talked, all we quantified, all we
45:55promised, it starts to become alive. So
45:59you have first version, you touch it and
46:01you see, you feel that it works. And
46:03this was the way how we engage more and
46:06more people around. For some
46:08applications, we did even 10 iterations.
46:11Why? because uh during the process we
46:15were discovering something new what was
46:18uh left behind the lines while we did a
46:21business discovery sessions that it is
46:23absolutely normal you can't know 100%
46:26forward what you are going to need in
46:28five months
46:29>> so we run that process of iterative
46:32prototyping for each application and we
46:34knew very clearly where we are directing
46:37we had to achieve the point when we can
46:39say margin simulation engine works
46:43And once it was achieved we started to
46:45spread it much much wider and the wider
46:48to spread wider into organization was uh
46:51already easy job. Why? Because uh team
46:55leaders around the applications we were
46:57building they were already well trained
47:01and they knew what they have and they
47:03could train and share with colleagues
47:06very fast. So once you demonstrate that
47:09you can negotiate with a customer a new
47:11contract within few hours everyone is
47:15very much interested and uh once we
47:18delivered that and the process of
47:20onboarding of all the rest team started
47:23uh the usage of the system itself rose
47:27600%.
47:28So everyone was just asking for it
47:32because the the life was uh much much
47:36easier for every business person. But
47:39this meant one thing that you do not
47:41waste time on preparing info for myself
47:44before I take decision.
47:45>> The data was there. You had just to take
47:48a decision. You have to know uh what
47:52affects uh final result and you doublech
47:55checking in procurement, in production,
47:58in commercial market price and you
48:01simulate what will happen if what will
48:03happen if and finally you arrive to the
48:06point where you are satisfied with the
48:08decision because this decision will
48:10bring for the next six months, next nine
48:12months a certain value monetary value of
48:16the margin. So not turnover not volume
48:21becomes a core but the value through the
48:24lens of margin becomes the core the core
48:28target I'm seeking for and uh this was a
48:33cultural change it was a cultural shift
48:35that's why usage rose so hardly I mean
48:39rapidly
48:40u six times to to to to grow it is it is
48:45really good result and this gave huge
48:47effect. First of all, future margins
48:50were secured much more and more to
48:53future looking forward it was secured
48:55and of course it cascaded down to bottom
48:58line to top line uh to epid level
49:02>> and the balance sheet the value of the
49:05company was improved.
49:07uh at at the final uh moment we could
49:10say uh that well business people has a
49:14tool with which they can enrich the risk
49:19management process and once it started
49:22to work a next level was in place to
49:26improve even wider the risk management
49:28of the company. M Rudy listening to what
49:31Ramonus is saying again and again I hear
49:34this in the projects that leadership is
49:37the corner of success. Uh please uh take
49:41give us your perspective how does
49:43leadership and mindset challenge uh
49:46applied in this case and what was the
49:48actually the bottom line what Ramonus
49:51was saying you probably have some
49:52numbers in store. Yeah, related to that
49:55question, I think mindset is a key topic
49:58which determines whether you will be
49:59successful or not because if you have a
50:02transactional mindset in an
50:03organization, that means that you act
50:05within your own responsibilities and
50:08just by definition it already puts
50:10borders um um uh for collaboration with
50:15others, right? But it's nothing bad,
50:17right? Everyone is hired for something.
50:19Everyone has contract terms and
50:21conditions and so on. And uh it's
50:23totally normal nor normal that we have
50:25transactional mindsets. Um whereas the
50:28other extreme is being valuedriven. So
50:30focusing on stakeholder partnership if
50:32you boil down the ocean which enables
50:34you to eliminate dependencies, eliminate
50:37cost center perceptions and drive real
50:39business value. So how can we tie it
50:42back to the leadership? Because not
50:44everyone can be valuedriven. There are
50:46some very specific tasks in an
50:48cooperation where you require um very um
50:52skilled and um uh specialists basically
50:55skilled people which are specialists and
50:58that's why it's the tasks of a
51:00leadership to drive the right culture to
51:03implement in for this example such a
51:05complex um uh improvement right. So
51:11the leader has to also sometimes push
51:15when the mindsets are not met and um on
51:18the other hand he has to um fuel that
51:22mindset. He has to let it grow in the
51:24organization. It's not something you
51:26apply for one project everyone is
51:28valuedriven and then um the project is
51:31over everyone is transactional again
51:33right it is not the way to go. So it has
51:36to be in the roots of an organization.
51:38Thank you Rudy on this and uh Ramunas
51:41now we have a solution in place now it's
51:44already adopted you have you are
51:46spreading it around uh in in the
51:49organization
51:50uh what is the like uh behavioral change
51:54uh to understand the solution in the
51:57practice
51:58>> I I would like to say that the main
51:59change was which which was even for for
52:02people in the organization difficult to
52:04understand at the very beginning that uh
52:07Not volume drives your decision. I mean
52:11before commercial people were we were
52:13thinking on how much to sell. I have to
52:16sell more. I have to sell more. I have
52:18to sell more. Which means that we
52:20increasing our capacity, increasing our
52:23flow. And this should bring us more
52:26value. Unfortunately, it is not the
52:28case. So once uh you have this tool like
52:32uh margin simulation engine and dynamic
52:35margin management uh you start evaluate
52:38every contract not on volume not on
52:41revenue but the value the margin you
52:45contracting what margin you will get
52:48this became a major uh decision point
52:52what I what I am looking at so if I
52:56achieve like 5 million margin during the
52:59contract with a certain segment of the
53:01customers or one customer even. It's uh
53:04it it doesn't play in a major role the
53:07volume itself because uh market
53:10conditions uh capacity to produce
53:13procurement activities which are as well
53:16uh optimal we can hedge and uh fulfill
53:20the demand for such a contract. So the
53:23core point becomes a margin and now uh
53:26once you have big deals contracted with
53:28many financial instruments uh securing
53:33margin and so on uh all commercial
53:35people started to uh to to to grab much
53:40more opportunities in a market appears
53:45which means that the opportunity comes
53:47in into market and uh I have I am
53:50reacting very fast. I know exactly what
53:53my production cost is right away. right
53:56at that moment why I'm calling to my
53:58customer to to the lead let's say but
54:01it's not a customer right and you do not
54:04waste time on simulating assessing
54:06looking for openness can we or not you
54:08see on the same screen as you said
54:11driving a car with many indicators you
54:15can immediately see uh what is
54:17production cost after 9 months uh do we
54:21have enough capacity in the production
54:23lines uh are procurement ready to to
54:27fulfill their demand as a raw material.
54:29And uh you also benchmark or compare
54:33what uh similar contracts you already
54:36concluded in this country, in this
54:38region, in this region. And if you
54:40already have even these contracts in
54:42these regions, you can go even higher
54:45with the price because you are fast
54:48>> because you are promising and you are
54:50granting the quantities your customer is
54:53asking and you see that you even can
54:55earn even higher margin. So I saw this
54:57process when the core contracts are
55:00signed and sealed.
55:02Commercial people using this fast fast
55:05realtime market data flow could collect
55:09sign much more smaller contracts with
55:13much higher margin but margin in
55:16monetary value not a percentage. And uh
55:19this change that you do not run after
55:22volume but you look for value was a
55:26major change that we have to support
55:28each other to grant to my colleague uh
55:32qualitative quality let's say data with
55:35a very high quality so that based on
55:37that he can take a decision once you
55:39grant that you start collaborate between
55:42each other and going together you always
55:45will go far. So this was a core core
55:48let's say change even in discussions
55:51near the coffee machine in the office of
55:53the customer they were talking not like
55:57how many uh trucks you sold of this
56:00product. No how much you fixed and
56:04secured margin in money but not in
56:08volumes not in whatever other measures
56:12and um and and this was really big
56:15change. It was really big change and
56:17what else it gave as well that this as
56:20Rudy mentioned as well about this
56:23uh operational scalability once you are
56:26very fast another effect which came
56:28immediately into organization they could
56:32expand rapidly without hiring double the
56:36team. So we had expan expansion abroad I
56:39mean international expansion and still
56:41the same team could manage all the
56:44process of contracting and securing the
56:46margins because the solution works
56:50without the borders. It's it's a global
56:53market. It's a global price
56:54fluctuations. It's a it's it's a global
56:57processed products which you are
56:58selling. that you can act it in one
57:01place as a as near huge informative
57:05trading desk once the process works.
57:09Great Remon sounds like a company really
57:12build the competitive advantage by
57:14increasing the speed from I believe it
57:16was like weeks now to the
57:19or minutes or what was it
57:20>> when you started the process let's say
57:23you are getting um let's say inquiry for
57:27certain amount of the product to produce
57:29and it took in different cases it was
57:32three four weeks and uh after
57:34implementing the solution we we can do
57:36it within hours
57:37>> great great impressive few hours
57:39sometimes in five but you are able to do
57:42it.
57:43>> Impressive and Rud Rudy as you were
57:45participating uh how you quantified that
57:48the end result do you have some numbers
57:50to share what company actually gained uh
57:53going through the value framework and
57:54building margin man dynamic margin
57:57simulation solution. So when it comes to
57:59value, this specific customer um
58:01achieved with this solution a 4% annual
58:04margin improvement which equals to 20
58:06million. Um and then Ramonus was talking
58:09about um they can tackle more demand
58:11with their existing team. Right? So this
58:14plays into operational scalability that
58:16may not be a financial decision-m
58:20criteria but uh in the long term it is
58:23because it improves um your headcount.
58:26you can grow longer with existing teams
58:28and avoid um the associated cost with
58:31growing with headcount rather than with
58:33technology improvement. Right? And then
58:35there was also the bottom line that we
58:37were able to consolidate I think it was
58:39four vendors across this whole whole
58:41landscape um which you can imagine if
58:45you don't have to manage four separate
58:47companies in your um day-to-day business
58:50um and the associated solution with it
58:52and the business connection with it with
58:54the business users um that's a value not
58:57only for um for for certain important
59:00KPIs of the organization but also for
59:03the operations for the people who work
59:05in the organization so that um everyone
59:09um gets a piece of it. Right.
59:10>> Right. Significant improvement guys. Uh
59:13Rudy if if a seesuit level executive
59:16will come to you and say that uh he is
59:20just too busy on daily daily life uh to
59:23to look at the value framework and u
59:26what would you say to them?
59:28>> One number we uh we put into the
59:31business case is the cost of delay. So
59:33um if you don't have the time to
59:36evaluate um how your company can improve
59:40um certain important KPIs in the
59:43organization then you miss out on value
59:46and this reflects in the cost of delay.
59:48So if you delay a decision it will cost
59:50you money. So um I would say reach out
59:53to us and um if you don't have a time
59:56use our time in order to um help you
1:00:00with identifying value and quantifying
1:00:02it before change happens.
1:00:04>> All right. Okay. And okay you convinced
1:00:06me uh it is value. I'm not delaying. So
1:00:10where should I start? So what is the
1:00:12first step the the executives need to
1:00:14consider to actually go into the
1:00:16framework value model? So um I mean
1:00:19there's a general topic on that but we
1:00:21tailor it now to our platform to click
1:00:23right and since we can provide strategic
1:00:25value so um um enterprise scale
1:00:28digitization from data to outcome um it
1:00:32is it makes sense to start with a
1:00:35interdependent process. there is like
1:00:36record to report, procure to pay um and
1:00:40so on. And this is where we see that um
1:00:44the most value can be achieved because
1:00:47naturally there is um there's a lot of
1:00:49disconnections due to the process and um
1:00:53that's basically a starting point the
1:00:55defining um an area where you want to
1:00:59which you want to look at and then have
1:01:01conversations with the business people
1:01:03just open conversations that's how
1:01:04everything starts um about what they do
1:01:08what their pain points are and um that
1:01:12will help you to derive what to do.
1:01:14>> Perfect guys, it was such a pleasure to
1:01:17speak with you and if I um understand
1:01:20correctly, you are not stopping here.
1:01:22You are uh modularizing and building
1:01:26this solution to be available for a
1:01:28market. Is that so? Or
1:01:31>> Ramonus, can you share?
1:01:32>> Uh let's see. every every month we are
1:01:35uh improving and improving first of all
1:01:37this engine by applying different
1:01:39features and uh
1:01:42important aspects for different
1:01:44companies, different industries. If you
1:01:46will look at different industries within
1:01:49commodity market segment, there are
1:01:51probably 26 of them uh just sharing a
1:01:55different sensitivity of volatility and
1:01:58vulnerability is different. But it has a
1:02:01different aspects on that. But our goal
1:02:03is of course is to to to make a to
1:02:06create it as a product and to offer as a
1:02:09as a I like to say as a bulletproof
1:02:13process which is uh short and fast in
1:02:16order to show how fast you can see uh
1:02:20how your organization
1:02:22reflects to the external factors which
1:02:24are changing daily hourly sometimes in a
1:02:27minutes. Mhm.
1:02:28>> So this is our goal and we are we are
1:02:31forwarding to that especially with the
1:02:33help of value framing
1:02:36process which demonstrated Rudy and we
1:02:38were working together on that.
1:02:40>> Uh we see more and more the more and
1:02:44more let's say structured methodically
1:02:47how it has to be built in order to apply
1:02:50or be adaptable to many different
1:02:53organizations. Doesn't matter in which
1:02:56industry you are, you always are
1:02:58affected by external factors and you
1:03:00have to know how to react. Your reaction
1:03:02into external factors always gives a
1:03:05clear understanding how fast you can
1:03:07adapt it.
1:03:08>> Mhm. So basically you are improving a
1:03:10solution. It's already available up for
1:03:13grabs. People just need to call you guys
1:03:16and uh start uh thinking whether this is
1:03:19applicable for their case and with what
1:03:21kind of value it will actually impact
1:03:23the company potential new companies that
1:03:26are you are both going to be engaged.
1:03:28Correct.
1:03:29>> Yes.
1:03:29>> So wrapping it up. So what started with
1:03:32the collaboration of two people from
1:03:34different companies by creating a one
1:03:36solution now uh becomes a repeatable way
1:03:40in the market to create value. So
1:03:42basically this is guys what what you are
1:03:44doing and if you can connect the uh
1:03:48analytics to the decisions you are
1:03:51basically uh creating competitive
1:03:53advantage for the specific company and
1:03:57uh you just shared guys how you did it
1:04:00in in uh in uh your specific use case.
1:04:04And before we say goodbyes to our
1:04:05audience, uh any any final thoughts uh
1:04:09about what we discussed or how people
1:04:12can reach out to you, where they can
1:04:14find you, please share. Ramonus, let's
1:04:16go with you first.
1:04:17>> Uh well, most probably the only thing
1:04:19which I would like definitely to share.
1:04:22Please do not afraid to experiment. In
1:04:25experimentation, the truth comes. And
1:04:28you never you you can't draw on a paper
1:04:31exactly how you will achieve the result.
1:04:34Once you know the result experiment
1:04:37while you are experimenting
1:04:39uh you will always find something new.
1:04:41You always will discover something new
1:04:43and while you are doing this external
1:04:45market I mean external factors are even
1:04:48triggering you to brainstorm and uh find
1:04:52the new ideas. uh and this is a a a
1:04:56question of uh process how to how to
1:04:58organize the process. Let's uh let's not
1:05:02be fixed to the final date and uh
1:05:07results or targets we are drawn and a
1:05:10month or a half a year ago. be flexible
1:05:13uh and and always manage what not to do
1:05:16in a wrong way and as many people you
1:05:18will join as many uh common denominators
1:05:22you will find as fast a organization
1:05:25will start working on a valu-driven
1:05:28mindset this is a core point and this is
1:05:31exactly what I'm always looking for in
1:05:33each organization
1:05:34>> good point Ramonas Rudy
1:05:36>> I want to double down on what Ramuna
1:05:39said on experimenting right um it ties
1:05:41directly to collabor collaboration. We
1:05:43collaborated in in in in this
1:05:45engagement, right? Um we created
1:05:47something which we are confident
1:05:49provides value from a solution and uh
1:05:52framework perspective uh to to our
1:05:55customers and it just shows what um
1:05:58talking to other people can bring to
1:06:00you, right? Different experiences join
1:06:03in order to create something bigger and
1:06:05this is what we are here for. Um if
1:06:07anything of what we discussed today is
1:06:10interesting for anyone in our audience,
1:06:12please feel free to reach out.
1:06:13>> Thank you Rudy. Thank you Ramunas. And
1:06:16with that we are saying uh goodbye until
1:06:19the next time and please focus on the
1:06:22decisions that create value.
1:06:50Heat.

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