About usBuilt for Corporate Leaders, by Corporate Leaders
We increase the ability of your organizational leaders to make informed decisions, accelerating their ability to act through PRESCRIPTIVE INTEL, reducing cost and risk to your company.
CXO Nexus is bringing Visibility and Actionable clarity to what the Global 5000 is actually spending on their Vendors. There are multiple causes that result in large distortions in a company’s ability to truly know what their spend with vendors is: legacy financial systems, human error, sheer volume of transactions, a complicated channel of Resellers and VARs that conceal actual spend on OEMs, to name a few. CXO Nexus delivers real-time, unbiased, AI-driven Visibility into true Vendor Spend, purpose-built for the C suite. We PROMISE to increase the ability of organizational leaders to make informed decisions, accelerating their ability to act through prescriptive intel, reducing cost and risk to their company. Large enterprises spend up to billions on Vendors, often more than 50% of their annual budgets. Shocking but true, the C suite and their teams lack visibility into what they spend with their Vendors for a myriad of reasons, including: Vendor sales' practices (selling directly & through resellers), financial systems that do not provide the insight leadership needs, complex purchases and decentralized spending processes.
Enterprises leave a lot of money on the table and end up with poor negotiation leverage, redundant vendors and an inability to know when contracts expire. Lack of Vendor Spend visibility made it impossible to negotiate from strength, identify compliance risk, and eliminate excess. Our Co-founder & CTO lived this PAIN while trying to shave 5-7% off the annual $800M spend with Information Technology (IT) Vendors when he held a leadership role at a Fortune 500 financial services firm. The challenges he faced could not be solved at human scale. Leading him to develop an Intelligent Enterprise Solution, using AI and Machine Learning to deliver a Near Time SaaS Solution. Our marquee customers and world-class advisors attest strongly that we are solving a big pain point for Global 5000 leadership.
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.
Please use the box below to ask me any question you want. Looking forward to helping you.
TBM ResearchGet the PDF of our findings.
Fill out this form and we will email you the PDF. This is a shortened PDF version of the entire survey. The complete survey will be available to you once we follow up with you, using the data provide in this form.
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.
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 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
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.
Customize Your Journey Welcome!
I am your AI-driven digital assistant.
I know you are probably thinking to yourself – should I put my real email in the form? If I use my real email are they going to spam me or give out my email?
If you’re asking yourself these questions, don’t worry. Here is exactly how we use your email ...
FIRST, we don’t give your email to anyone in sales or marketing, or to anyone else for that matter, unless you ask us to do so in order to facilitate a call or appointment.
SECOND, we promise to only use your email for the following purposes:
1. To remember your personalized discovery journey through the valuable content resources on this interactive site so that the next time you visit the digital assistant will remember your customizations.
2. To send you a summary email of the topics you read about on your journey so you have a reference guide for the future. This is followed by an occasional email with additional content the system thinks you will find valuable.
You can turn these emails off at any time and you'll never get more than one email per week.
That’s it – your email will never be used for any other purpose unless you tell us to.
That’s all for now. I’ll see you inside the system.
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.