In an ever-evolving business landscape, the availability of data may vary. Have you encountered situations where the necessary data for negotiations was not readily available? How do you handle such scenarios?
Absolutely, the availability of data can differ from business to business and deal to deal. I've learned that it's not solely dependent on the size or scale of the company but rather the cultural mindset. Even in some of the largest companies, I've witnessed a lack of the necessary data and mindset. On the other hand, I've worked with smaller companies that have embraced the modern procurement approach and provided the required data. In such situations, I prioritize fostering a partnership and work collaboratively to gather the necessary data. It's about finding the right fit with a supplier who understands our goals and operates with openness and trust.
Building on the concept of partnerships, what characteristics do you consider important in a provider or supplier, such as reseller, publisher, or cloud provider? Do these align with the characteristics you seek from clients?
Absolutely, the characteristics we look for in a provider or supplier align with the characteristics we seek from our clients. Collaboration, partnership, and a focus on business outcomes are key aspects. However, it's important to note that these characteristics may vary between different providers and publishers. It's not solely dependent on their size but rather their willingness to embrace modern procurement practices and drive innovation. While some publishers may resist change, others are proactive in adopting new approaches. The key is finding the right balance and fit that aligns with our business objectives.
Moving on to the topic of cloud services, they have gained significant traction in recent years. What are the major risks associated with the increasing adoption of cloud services, and how should businesses address them?
The adoption of cloud services brings several risk elements that businesses should be aware of. Firstly, there are regulatory concerns, such as knowing where data resides, protecting it, and handling potential breaches. Secondly, businesses need to be prepared and understand their cloud activity and associated risk profiles of their suppliers. Additionally, having a clear exit plan is crucial in case of any negative experiences, attacks, or regulatory changes. It's important to be able to pivot to another provider or technology without compromising business operations. Finally, there are control factors related to data security, privacy, and responsible business practices that should be considered. Having a comprehensive strategy addressing these risks ensures businesses can leverage the benefits of cloud services while managing potential challenges.