The following videos were taken during the SAP Ariba Live in Austin, Texas event held April 1st-3rd.

 

Who is SAP Ariba?

SAP Ariba is the leader in spend management with more than 3.6 million businesses using their software in more than 190 countries. Their mission is to help companies control spending and cut costs by making it easier for buyers and suppliers to work together.

 

SAP Ariba showcased marketplace demos, meaningful conversations, and networking opportunities during their live event. Companies from all over the world came to demonstrate their products and services intent on creating the Intelligent Enterprise. As SAP Ariba’s featured keynote partner for Intelligent Spend, CXO Nexus’s CEO Ken Male spoke about our AI-driven software which creates visibility into vendor spend data.

 

Artificial Intelligence is here to stay

Artificial intelligence is more than a helpful tool for the future, it’s a fundamental building block.

“It has not been that long since we talked about artificial intelligence in ways that we’re always projecting into the future, future opportunities, future innovation, but right now we are living into the very fabric of the future, today.”

Tamara McCleary – CEO of Thulium.co

An overarching theme of the SAP Ariba Live event was Enabling the Intelligent Enterprise through AI and machine learning applications. Just as Tamara McCleary stated above, AI is no longer a hope, but a reality. Artificial Intelligence is paving the way for companies like us to create services that are faster, cheaper, and provide more insight into your data.

 

Intelligent Enterprises

 

“We’re on this path to the intelligent enterprise, and it’s powered by intelligent spend.”

Barry Padgett – SAP Ariba President of Intelligent Spend Group

The President of the Intelligent Spend Group, Barry Padgett, spent the past year talking to industry leaders around the world about their needs and expectations going into 2019 in an ever-changing digital landscape. Companies and customers alike are looking for the faster processing of more information in a shorter amount of time.

 

If you would like to see more on how SAP is enabling the intelligent enterprise, click below.

https://www.sap.com/products/intelligent-enterprise.html

 

Intelligent Spend

 

So, what can our software do?

“Using our software, [Dell] realized that they were spending a lot more with the end user than they thought because business units were going and buying direct with Dell, not through a central IT function or through central IT finance or purchasing, so that unmanaged spend we are able to detect.”

Ken Male – CEO of CXO Nexus

 

Being a part of the SAP Business Network gives us the power to create a purpose-built platform that can benefit companies like Dell. Using secure access to SAP application data, we were able to detect that Dell had spend that was unmanaged. Data that was previously un-categorized and unmanaged is now visible and ready to be analyzed and optimized.

 

Indirect Spend management

 

If you would like to learn more on who CXO Nexus is and1 how we are providing visibility into your spend, click below.

https://cxonexus.com/products/

 

Do NOT follow this link or you will be banned from the site!
Barrington Young PH.D.VP Data Sciene & Machine Learning

Barrington Young, Ph.D. is an applied technology researcher skilled at proof-of-concepts and pilots for financial applications, a seasoned expert in right-time business intelligence solutions, an advocate of innovative uses of the human-machine interface for the development of intelligent systems and adept at extracting, distilling, enriching and codifying expert knowledge for automation.  Dr. Young was formerly the Business Intelligence Engineer / Data Scientist for Amazon, the Principal Data Scientist for USAA, the Principal Data Scientist for Schwab, Principal Data Scientist at Alight Solutions, the Business Intelligence Architect for Boeing, and the Computational Intelligence Expert for IBM at AK Steel. He is also a professor at St. Edward’s University in Austin, Texas. 

Becky Klein PMP, CSMSenior Project Manager

Becky Klein is a PMP certified senior technical project manager and Certified Scrum Master with extensive experience within the financial services industry managing complex regulatory reporting projects and initiatives, and digital banking solutions.

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.

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.

Gary GuanSoftware Engineer

Gary Guan is a full-stack software engineer who is adroit with MERN stack development. Gary differentiates himself with his creative solutions to technical challenges, garnering attention from former employers such as Bank of America Merchant Services and Mine Sweeper.

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.

Irene BykovskySecurity Operations Engineer

Irene Bykovsky is our Security Operations Engineer, who has been a senior IT professional with more than 10 years of extensive experience, specializing in cloud architecture/computing, application programming, deployment and maintenance, project lifecycle analysis and development, software evaluation and selection, managing technology groups of people and projects through all phases of the system’s life cycle.Irene was the Principal AWS/DevOps/SR Engineer at Aspect, and prior to that she was the technical lead for NBC Universal and a software engineer for Walt Disney/ABC Network (ABCNews.com).

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.

Leif EastersonGlobal Integration Lead

Leif Easterson is the global integration lead working with clients to implement our solutions. He is a technology financial/business management and sourcing executive in the global financial services for IS, Risk Control, Application Development, and Technology. Leif has been a consultant in Info Security, Vendor management, Risk management, App development and tech Infrastructure at Citi, and a senior contracts manager at Northrop Grumman prior to joining CXO Nexus.

Mohammad FalakmasirSenior Engineering Manager

Mohammad Falakmasir, Ph.D. Candidate in NLP and a Machine Learning Scientist and full-stack engineer, formerly worked for Astound and was the Data Scientist at LegalSifter and Pearson. Mohammad manages the product development team.

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.

Real Time 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, and 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.

Shelley AlgerVP Corp Development

Shelley Alger brings over 25 years of business startup strategy, business development, operations, investor relations and strategic growth experience. She was the first employee and managed business development for Critical Path, one of the first SaaS companies, and later co-founded a food technology company. She is an advisor to several early stage and social impact companies.

Sir DraftonSenior Software Engineer

Sir Drafton is a senior software engineer with 15+ years in development, design, management, testing and implementation of various applications and systems. Sir is experienced with all stages of the development cycle for projects, producing solutions, systems and applications that give CXO Nexus a competitive edge with results for our customers. Sir has been a senior software engineer for Bank of America, TweetConnect and co-founded BitBot, a chatbot platform to optimize engaging experiences on social media.

Steve HackenburgChief Development Officer

Steve Hackenburg has more than 10 years excelling in sales leadership within the global IT infrastructure market, at Tier1 Research and The451 Group. Steve is a proven leader and accelerator of sales and business development.

Suzanne FavaSenior Designer, UI/UX

Suzy Fava brings over 20+ years of design, creative consulting and front end developer experience. Founder of Ideatek Design, a small agency supporting clients technology and design needs. Suzy brings a broad base of knowledge and a problem solving mind to the development of the CXO Nexus line of products.

Theran LeeFounder & CTO

Theran Lee drives the product vision of CXO Nexus. He brings 30 years of technology and leadership positions in IT, Telecom and Financial Services. Most recently served as VP of Infrastructure (Architecture, Network, Workplace, Mainframe, ITSM, Storage, Database) at Schwab. Prior to that, Theran was the Regional Director Systems Engineering at a Fortune 20 Telecom Company building Internet backbone and Commercial connectivity & security solutions, where he was voted Rookie of the Year and Engineer of the Year. Theran has had Leadership and Development positions at leading Open Source Financial Accounting, and Investment Banking software firms as well.

Vince TotoroTechnology Finance

Vince Totoro is an experienced executive with demonstrated accomplishments in financial planning, analysis, reporting & control, expense management and cost efficiency initiatives. He has a built a strong career creating, managing and re-engineering business processes to support financial reporting, budgeting, forecasting and allocation/charge-back methodologies. Vince was formerly the Vice President of the Corporate Finance Division for First Data, was the Managing Director and Chief of Staff for End User Technology and the CFO for Enterprise Technology for JPMorgan Chase & Co., as well as the Technology CFO and Executive Director of the Technology Division of Morgan Stanley.