Psychologists who study the dynamics of creativity tell us that if you want to generate a brilliant new insight or idea, you have to put some time into it—do the research and collect the data—but then follow it up with some time to incubate. For me the challenge is always to not get too caught up in analysis that you forget to take a simple approach.
After six months at Pramata, I have learned that big businesses have the same problem when they’re searching for new ways to drive revenue and productivity. They know intuitively that enterprise data, especially contract data, is an important part of generating new revenue. But the longer they look at the tangle of information flows among sales, finance and compliance operations, the harder it is to solve the problems that are at all helpful to their bottom lines. The best solutions often seem simple, intuitive, almost obvious, once you’ve achieved that “aha!” moment. But it’s getting there that seems to stifle people.
After working with big business and seeing them spend time and money to fix their enterprise data challenges, and then being here at Pramata who has already helped some of the biggest enterprises on earth—it seems straightforward and obvious that if and enterprise’s contract information is out-of-date (which it often is), companies need a way to consistently refresh it. If it’s fragmented (which it often is), they need a way to consolidate it. And if they can do those two things, easier said than done, they can enjoy great value from their commercial relationships.