Vincent Totoro joins CXO Nexus to help lead Global Integrations

Mr. Totoro brings deep financial expertise to accelerate customer growth for the AI-Based Vendor Spend Analytics company

Vince Bio PicNEW YORK – Aug. 20, 2019 – PRLog — CXO Nexus today announced that Vincent Totoro has joined CXO Nexus as its Head of Global Integration. Vince Totoro is a dynamic executive with very strong leadership in financial planning, analysis, reporting and control, expense management and cost efficiency initiatives at leading Fortune 500 companies. Mr. Totoro brings his talents for creating, managing and reengineering business processes to strengthen the financial, collaboration and peer comparison benefits that CXO Nexus delivers.

In his role, Mr. Totoro will lead the Global Integration efforts, bringing his years of experience of financial acumen and strategy to the benefit of CXO Nexus customers and its product and integration processes. Mr. Totoro will work closely with the data scientists and developers to provide C suite perspectives for optimal Machine Learning. Mr. Totoro will lead all aspects of the client experience from onboarding to use case creation of the CXO Nexus InCight Dashboards that provide real time visibility Into Vendor Spend.

Mr. Totoro brings extensive experience to CXO Nexus from the Financial Services Sector. As a senior executive, Mr. Totoro has served as the Technology CFO supporting multi-billion dollar budgets for both JPMorgan Chase and Morgan Stanley, most recently directing global Financial Planning & Analysis for Technology at First Data Corp. Mr. Totoro manages global cross disciplinary teams and has extensive knowledge in Technology Business Management.

Mr. Totoro says “CXO Nexus is a game changing technology that will enable businesses and corporations to significantly improve transparency into how they are spending their hard-earned cash. I am very excited to be a part of the CXO Nexus team to bring this business solution to the market place.” Mr. Totoro is excited by “disruptive technologies that improve business process, reengineering business processes, meeting people, hearing new music, friends and family.

“Vince’s understanding of issues that large enterprises face in managing their IT spend is a boon to the CXO Nexus team. He brings an immediate impact to the client experience from onboarding to identifying use cases for the CIO InCight Dashboard. As corporations strive to leverage their data assets his domain expertise enhances the value real time vendor spend analytics delivers to the C Suite.” said CEO Ken Male.

About CXO Nexus

CXO Nexus, named a Top 10 AI Platform by CFO Tech Outlook in February 2019, applies AI and Machine Learning to the daunting tasks of classifying, standardizing, and normalizing vendor spend data. As an agnostic overlay to all Financial Systems, organizations can now control costs more effectively, manage their vendor relationships, and leverage a platform designed to enable collaboration across the business. CXO Nexus is an Extension Partner with the SAP Business Network and available on the SAP App Center. CEO Ken Male will be on a panel moderated by Laura Noonan, US Banking Editor, Financial Times, discussing “The role of the CFO in owning data” at the Financial Times CFO Dialogues USA on September 17th in NYC at the Westin New York in Times Square.

Contact us at 833-CXO-DATA or sales@cxonexus.com

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Cross Business Collaboration

You lead IT spend and determined that the best solution for your company’s overall data mining needs is a solution with DataFox for $1.2 million.

Unbeknownst to you, your European subsidiary purchased data mining solutions from Rialto for $900,000.

You know that the solution your department purchases and manages could solve for the European marketing’s team needs.

With this knowledge and insights, you can streamline your overall company spend on data mining and marketing and get even better solutions and value out of your vendor, for less.

TBM ResearchGet the PDF of our findings.

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Eliminate Excess Vendors

Using the CXO Nexus InCight™ dashboard reveals that you are paying four unique security companies, three of whose contracts you believed had expired.

Their contracts had automatically rolled over and you realize that you are paying for redundant vendor services.

Ensure Regulatory Compliance

You realize you are spending 800% more on a regulated vendor than you were aware, due to multiple resellers and geographical spend discrepancies.

(Not uncommon).

You are now at risk with regulatory agencies for inaccurately reporting and for spending more on a riskier vendor.

Identify Business-Led Spend

Business-led IT investments can be additive (they don't divert money away from the CIO's budget) and they often focus on collaboration tools, analytics and technologies to engage customers or improve, whether it's a new CRM tool or social media analytics.

If spent wisely, these investments can give a competitive advantage to a specific part of the business, whether finance, marketing or sales.

Business leaders are seeking out their own tools to analyze and present data. But these tools are only valuable if employees have the skills and judgment to use them effectively for decision making. 

As long as the CIO retains oversight and can educate the rest of the business about the risks, it can often be a better, cheaper way to achieve the goals of the IT department, especially when it comes to new innovations.

John LindsayChief Financial Officer

John Lindsay brings over 35 years of experience at Financial and Research Enterprises. He served as EVP and CFO of The451 Group Research and has held senior finance roles at AMEX & Saatchi & Saatchi.

KEN MALEFounder & CEO

Ken Male, CEO - has over 25 years of leadership positions in IT and Internet Research working across the C suite, from Gartner to Jupiter to Apptio. Founder & CEO of IT Research firm TheInfoPro (TIP), acquired by The451 Group in 2011. Prior to that, Ken was SVP of Global Sales for Jupiter Research and was active in their 2000 IPO. He led Benchmarking & Data at Apptio from 2013-2015.

John LarkPresident

John Lark’s in-depth background includes business and technical leadership, marketing strategy and tactical marketing know-how, SaaS and Cloud innovation and evangelism, marketing strategy, API development, and collaborative growth via partner engagement and development to the CXO Nexus team.
John was formerly Global Vice President of ISV Business Development at SAP Ariba. Prior to that, as the Vice President of Business Development and Partner Cloud Ecosystems at SAP Ariba. John was responsible for developing and launching a new business inside of SAP that melded cloud solutions with partner ecosystems and expertise, API's, and data exchanges that delivered innovative global capabilities to customers that ran the gamut of delivering core enterprise fundamentals to analytics and machine learning to Artificial Intelligence (AI) and bots. John’s efforts led to corporate-wide scale-ability in operations as well as an innovative profit model. John bridged across internal and partner executives and among diverse roles such as Finance, Operations, Legal, Controlling, Product Development and Sales.

Monthly Expense Reduction Opportunities

A Fortune 500 spends $1M+ on a team that includes 12 data scientists + hired consultants to understand spend data. After 3 months, the data is inaccurate, un-actionable and only relevant at that moment in time.

With CXO Nexus:

> Redundant spend on Cisco is identified as multiple resellers are identified as selling across multiple departments.

> Vendor Rollup feature reveals you’re spending $7M more with Dell than you thought because you didn’t realize that Dell acquired VMWare and you weren’t leveraging your combined spend with both companies.

> This Visibility gives you the negotiation leverage for a discount saving you millions.

> Your cost savings from these insights enable investment in the latest Cybersecurity and mobile, driving higher revenues and performance

Negotiation Leverage

You negotiate with Pivotal believing that you spend $1.5M each year with them per year.

You learn that Dell has acquired them, and between Dell, EMC, VMWare and Pivotal, that you are spending an annual $14M with all of them under the Dell umbrella.

You bring this leverage into your negotiations and drive much better terms across all of these vendors.

Peer Comparison

You are in the midst of a major cloud migration.

You are considering a serious upgrade to your systems.

You are assessing whether to stay committed to your primary storage vendor, but through the CXO Nexus Peer InCights, you see that spending is down significantly with this vendor by your peers, and that many are investing in a newer solution from another vendor.

This performance insight spurs you to research further into competitive developments, patent filings and macro trends.

Automated Spend Categorization

You spend $10M/year with Cisco, but you have no idea how that spend breaks down. 

Your procurement system identifies this spend as networking, but you realize that

  • 20% of that spend is on networking,
  • 15% is on Wireless and Mobile,
  • 40% is on security,
  • 17% is on Data Centers,
  • 8% is on Analytics.

This information will change your needs analysis and the way you negotiate with your vendors in the upcoming year.

Reduce Vendor Risk

You have identified vendors who are no longer in compliance with your regulatory needs, but because you have not audited your vendor list recently, you realize that several of your vendors no longer satisfy your security requirements.

You realize that some of these contracts extend out for years.

You can begin mitigating this risk by shoring up other vendors who meet your risk standards.