Transforming TBED through Technology

October 28, 2015

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Who We Are

JumpStart Inc. is a non-profit based in Northeast Ohio. Our mission is to help communities realize their entrepreneurial

potential.

Scott Thompson

Senior Partner,

Partnerships

Hrishue Mahalaha

Senior Partner,Advisory &

Implementation Practice

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• Understand our industry and how we use technology today

• Build a common language on our organizational functions

• Develop a rudimentary capability map for our organizations

• Do a Deeper Dive on 3 specific technologies

By the time you leave: You will have developed a high level functional/technology road map for your organization.

What We Hope to Accomplish Today…

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• Introductions (10 min)

• A Foundational Thesis (45 min)• Your voice – Highlights from the survey• TBED Technology Framework

• Activity (30 min)• Utilizing the TEBD Technology Framework

• Break (10 min)

• Critical Solution Discussion and Dialogue (45 min)• Customer Relationship Management (CRM)• Marketing Capability• Reporting and Analytics

• Q&A (10 min)

Agenda

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• Increased scrutiny surrounding public investments calling for greater accountability of economic development activities.

– Focus on tangible outcomes– Focus on reporting and metrics– Scrutiny of data

• Increase diversity of services being delivered by TBED to support entrepreneurship and innovation

• More competition for resources from the private sector.

• Limited funding and number of employees.

TBED Industry Challenges

SSTI. Trends in Tech-based Economic Development: Local, State and Federal Action in 2013

Respondent Profile – Total Responses: 238

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Your Voice - Our IT Resources Are Constrained

2. Limited Organizations with IT Staff

1. Few Employees

18.9% org. 0 - 4 employees 37.9% org. 4 – 16 employees

Does your organization have IT on staff? 101164

No

Yes

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Your Voice - Our IT Resources Are Constrained3. Constrained Budget Dedicated to Technology

The majority of organizations in the survey reported spending less than 5% of their annual operating budget on technology. 

Approximately what percent of your budget do you spend on technology?

Your Voice - We Want to Scale4. Ranking of organization priorities for the upcoming year:

1. Scaling Operations: 40.3%2. Measuring Impact: 26.5%3. Strengthening Community: 23.1%4. Operational Efficiency: 11.9%5. Applying Best Practices: 10.1%6. Unsure: 6%

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5. TBED organizations have the lowest confidence in their applications and review management tools and the highest confidence in shared infrastructure tools.

Your Voice – Confidence Overall

The largest area of spending is on shared infrastructure, followed by website then CRM. 

Your Voice -- Spending

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Live Attendee Feedback

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TIER III: Client Engagement Tools

General Business Approach

TIER II: Business Operations Tools

TIER I: Foundational Tools1.1

Hardware and Infrastructure

1.2 Communication

Technology (Email)

1.3 Document

Management

2.1 HR Management

2.2 Finance and Accounting

2.3 Reporting and

Analytics

3.1 Digital

Marketing

3.2 Application & Review Mgmt

3.3 Portfolio

Management

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Business Approach - DetailsTIER I: Foundational Tools

1.1 Hardware and Infrastructure

1.2 Communication

Technology (Email)

1.3 Document

Management

OVERVIEW• Collection of physical and virtual resources to support business functions.• Servers, storage, network, internet, phones, etc.

CONSIDERATIONS• Shortage of support, management tools• Redundancy capability.

OVERVIEW• All the tools that

an organization uses to communicate internally and externally in an organization

CONSIDERATIONS• Traditional vs.

cloud based platforms

• Security and redundancy

OVERVIEW• The capability to

manage and maintain soft content in a central location

• Allows for version management and readily sharing of data

CONSIDERATIONS• Establishing

protocols for what content needs to be protected

• Backup procedures

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Business Approach - DetailsTIER II: Business Operations Tools

2.1 HR Management

2.2 Finance and Accounting

2.3 Reporting &

Analytics

OVERVIEW• Payroll and benefits tools, recruitment, project management tools.

CONSIDERATIONS• Analytics, Employee• Tools that match organization workflows vs. feature overkill

OVERVIEW• Tools to record information about financial transactions•Manage P&L and Audit

CONSIDERATIONS• Challenges: fragmented content, data reporting compliance, inconsistent processes

OVERIVEW• Capability to

aggregate disparate data and succinctly tell an integrated story

CONSIDERATIONS• Customizing

reports to multiple funders

• Critical metrics?• Customizations?

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TIER III: Client Engagement

Business Approach - Details

OVERVIEW • The use of digital channels to promote or market products and services to consumers and businesses.• Social media, website, e-mail marketing.

CONSIDERATIONS• How much time do you have to dedicate to marketing?

OVERVIEW• Collecting, reviewing and managing applications for grants, entrepreneurs, students, etc.

CONSIDERATIONS• Identifying the unique elements of the business model• Task management, Form logic and Work flow

OVERIVEW• Used to manage

projects and accounts.

• Tool can help evaluate projects (expected returns, outcomes, timeline or accounts of companies.

CONSIDERATIONS• Often requires

customization.• Developing a

common workflow logic across all platforms to avoid fragmentation.

3.1 Digital

Marketing

3.2 Application & Review Mgmt

3.3 Portfolio

Management

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• Introductions (10 min)

• A Foundational Thesis (45 min)• Your voice – Highlights from the survey• TBED Technology Framework

• Activity (30 min)• Utilizing the TEBD Technology Framework

• Break (10 min)

• Critical Solution Discussion and Dialogue (45 min)• Customer Relationship Management (CRM)• Marketing Capability• Reporting and Analytics

• Q&A (10 min)

Agenda

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• (15 Min)For each table there is a dedicated map:• Identify what process you would add to the map• What technologies are you using or would like to add to your

support• How will your client benefit from this enhancement

• (15 Min)Share findings with the group and discuss

Activity (30 minutes)

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• Introductions (10 min)

• A Foundational Thesis (45 min)• Your voice – Highlights from the survey• TBED Technology Framework

• Activity (30 min)• Utilizing the TEBD Technology Framework

• Break (10 min)

• Critical Solution Discussion and Dialogue (45 min)• Customer Relationship Management (CRM)• Marketing Capability• Reporting and Analytics

• Q&A (10 min)

Agenda

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• Introductions (10 min)

• A Foundational Thesis (45 min)• Your voice – Highlights from the survey• TBED Technology Framework

• Activity (30 min)• Utilizing the TEBD Technology Framework

• Break (10 min)

• Critical Solution Discussion and Dialogue (45 min)• Customer Relationship Management (CRM)• Marketing Capability• Reporting and Analytics

• Q&A (10 min)

Agenda

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TIER III: Client Engagement Tools

(1) Technology Framework: CRM

TIER II: Business Operations Tools

TIER I: Foundational Tools1.1

Hardware and Infrastructure

1.2 Communication

Technology (Email)

1.3 Document

Management

2.1 HR Management

2.2 Finance and Accounting

2.3 Reporting and

Analytics

3.1 Digital

Marketing

3.2 Application & Review Mgmt

3.3 Portfolio

Management

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Customer Relationship Management (CRM) is a technology capability that can help with the following::1. Customer Tracking2. Engagement Tracking3. Content Management4. Process Automation5. Reporting & Metrics

(1) CRM: What is it?

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(1) CRM: Innovations

1. Connecting Marketing systems to your CRM -Email marketing can tie directly into your platform

2. Customizing fields and processes in the CRM application to eliminate multiple systems-Tracking space, leases, and terms can be quickly configured within most leading systems

3. Establish collaborative methods for working with your ecosystem partners-This affords you the opportunity to expand your value

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CASE Study –CRM

1. The Challenge

• 16 collaborators reported outcomes separately to the state of Ohio.

• The outcomes were duplicative because collaborators reported outcomes for the same clients.

• Services to entrepreneurs were uncoordinated and duplicative, creating competition amongst entities.

2. Technology Enabled Solution

• 16 collaborators log into a single system and use a single record for each client. The network has certain business processes, reports, etc. in common.

• Each partner can also add data unique to their business process.

• All collaborators can see network clients, activities and outcomes.

• Outcomes reported to the state in a single de-duplicated report.3. The Outcomes

• $7 Billion dollars tracked• 200 K hours documented• 100 + network users

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CASE Study - Mentoring App

1. The Challenge

• Better engage mentors and mentees

• Improve resource allocation• Communicate outcomes

2. Technology Enabled Solution

• Opportunity to develop a dynamic conversation over time

• Greater visibility into metrics such as session frequency, user satisfaction

• Transparency regarding outcomes3. The Outcomes

• More satisfied mentors, who previously asked “just tell me what to do”

• Ever increasing mentor and entrepreneur recruitment numbers

• Increased focus on process standardization and normalization

• Less paper production• Increased visibility into outcome

definition and tractionhttps://vimeo.com/134839955

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Live Attendee Feedback

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TIER III: Client Engagement Tools

(2) Technology Framework: Marketing Analytics

TIER II: Business Operations Tools

TIER I: Foundational Tools1.1

Hardware and Infrastructure

1.2 Communication

Technology (Email)

1.3 Document

Management

2.1 HR Management

2.2 Finance and Accounting

2.3 Reporting and

Analytics

3.1 Digital

Marketing

3.2 Application & Review Mgmt

3.3 Portfolio

Management

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Future economic growth is driven in part by female entrepreneurs

(2) Marketing Capabilities: Understanding Who?

Gartner Global research suggests that successful digital marketing strategies share some common characteristics. Successful strategies are:

• Designed to make it easier for the customer to accomplish their goals, whether that's to research a product, make a purchase or get a problem fixed

• Often built within the context of exciting and engaging environments where people can interact with each other

• Not isolated to just social media, but are part of a multichannel customer engagement strategy

Learning from the Global 1000

Source: Gartner, Agenda Overview for Digital Marketing Operations, 2014

(2) Marketing Capabilities: Understanding How?

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(2) Marketing Capabilities: Technologies

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Digital Marketing Platforms

Social MediaAnalytics

E-mail Marketing

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TIER III: Client Engagement Tools

(3) Technology Framework: Analytics

TIER II: Business Operations Tools

TIER I: Foundational Tools1.1

Hardware and Infrastructure

1.2 Communication

Technology (Email)

1.3 Document

Management

2.1 HR Management

2.2 Finance and Accounting

2.3 Reporting and

Analytics

3.1 Digital

Marketing

3.2 Application & Review Mgmt

3.3 Portfolio

Management

• A powerful tool for informing and guiding decision making• A vehicle to report progress to key stakeholders• Increased scrutiny around public investments requires

organizations to invest in tracking metrics and reporting.

An IEDC Report from February 2014 reported that:“Over 50 percent of local (city-level) EDOs do not track performance.

Approximately 20 to 30 percent of county and regional EDOs do not track

performance.”

(3) Reporting and Analytics: What is it?

“Making it Count: Metrics for High-Preforming EDOs” IEDC. February 2014. 37

(3) Reporting and Analytics: The Tools

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LINK

• Introductions (10 min)

• A Foundational Thesis (45 min)• Your voice – Highlights from the survey• TBED Technology Framework

• Activity (30 min)• Utilizing the TEBD Technology Framework

• Break (10 min)

• Critical Solution Discussion and Dialogue (45 min)• CRM• Marketing Capability• Reporting and Analytics

• Q&A (10 min)

Agenda

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