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This is James Govner from Redmonk at the IBM Industry Analyst Summit for 2008.

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The economy is in a very interesting situation right now, and it seems that IBM is retooling

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and repositioning to more effectively meet its client requirements, and here I have Karen

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Parrish to tell us a little bit more about that.

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So, why don't you tell us about your role, and then a little bit about this changing

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go-to-market approach that IBM is trying to do.

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I have a terrific role.

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I honestly don't think there is a better role in the IBM company right now, and the reason

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I say that is because I've been given the opportunity to look across all industries, 17 of them worldwide,

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and to identify what are the best practices that are going on in those industries as it

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relates to how we deploy software and how we deploy services to solve particular customer

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problems.

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And those customer problems change.

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They change as economies change.

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They change as we move into growth markets.

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They change by industry.

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And so, what we do is we look at ways to package that up and help solve those problems faster,

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in a more flexible fashion, and give the customer some ability to be more agile to respond to

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some of the changing conditions.

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Some that are within their control, some that are outside of their control.

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So, one of my questions is, I mean, personally, but also organizationally, how do you boil that

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ocean?

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I mean, Red Monk, we thrive on our ADD.

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We, within the technology markets, have a fairly wide-ranging kind of beats coverage that we pull

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a lot of information together.

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But, you know, 17 different industries.

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How do you personally do that and organizationally?

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The market drives everything we do.

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The interesting thing about the approach that we have, which is very different from the way

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we would normally develop software, for instance, is that this is customer in.

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So, every industry framework, which is what we call the solution approach, is done completely

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by customer engagement.

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So, we look for these best practices as we're working with customers, and that requires industry

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expertise.

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So, the first order of business is, you have to have people who deeply understand the industry.

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Well, we do.

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I mean, we have an entire sales and distribution organization.

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Sure, you do at GBS, but do you have it in software?

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Well, we do.

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And, in fact, I run a team who have a set of industry experts.

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Amongst the executive management team, there's industry expertise, but within these teams,

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there are architects who are industry experts.

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There are software people who are industry experts.

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So, we have the luxury of having core competency.

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It's not prevalent enough through the organization, and that's a lot of what Robert LeBlanc talked

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about this morning when he talked about enabling the entire software community to be focused

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on it.

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Since I met you, I mean, very clearly, you have a lot of domain expertise.

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I do.

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I mean, you've come at this, like retail?

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Deep.

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I would always feel happy, like any retail question, I would feel like, you know, let's

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ask Karen, because she will know the business process, she will know all of the players,

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and so on.

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That's right.

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That's right.

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That's right.

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That's right.

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Not everybody has that kind of depth and expertise.

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That's right.

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I mean, A, it seems that also you're obviously broadening that out personally.

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Yes, I am.

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But it's a little bit ... There is a danger, I think, that you might put someone in place

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that perhaps doesn't have the domain expertise of their customer, or a particular analyst.

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But domain experts are not made overnight.

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You acquire them, and that we do oftentimes when we bring on companies like Infodyne,

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where we, in acquiring a company, we actually acquired a group of individuals who knew that

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market extremely well.

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Okay.

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They're subject matter experts.

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You build them, and we build them through GBS.

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We have a very strong partnership with GBS.

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How we go to market, which is sort of the question you asked me earlier, is oftentimes through the

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solutions that GBS brings to the market.

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We have a very deep domain expertise as well.

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And you build that domain expertise over time.

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The people who work in my organization have been working in the telco space, in the financial

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services space, for a very, very long time, as long as I've worked in retail.

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I've had the benefit, personally, of running a business at IBM for the last seven years that

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was a horizontal play.

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We did data warehousing and business intelligence.

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Mm-hm.

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Well, you don't understand analytics unless you really understand how customers work.

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So I had to learn a lot about industries outside of retail, like healthcare, for instance,

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and insurance and financial services.

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And that's how I started to get deep in other industries.

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But nobody can be an expert in all industries.

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I would never proclaim to be.

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Mm-hm.

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What I look for are people on my team who have deep subject matter expertise in a particular

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industry or a domain, perhaps a sector, like maybe the relationship between financial

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markets and financial services, banks and financial markets.

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You can sort of look at that domain expertise as somewhat similar, although the processes

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can be quite different.

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And then you look for them to branch out.

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At the end of the day, the domain expertise has to be in front of the customer.

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It doesn't really matter if the people on my team has it.

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It matters that the people who are in front of the customer have it.

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Mm-hm.

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So we're all the focus right now is on educating and building industry competencies in each

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of the geographies where we play.

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Now, remember that this industry model isn't for all problems across all industries.

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Right.

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I've noticed that there seems to be quite a lot of selectivity about the specific markets.

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And that's something you don't always see from the classic enterprise software play.

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That's right.

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By design.

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You know, GBS has a solution for everything.

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That's what they are there to do.

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I mean, they are the consultants across all industries, all domains, all functional areas.

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And we look to them for really going and building not only customized solutions

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but harvesting assets around those solutions so that their go-to-market is faster and cheaper

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as we move down that path.

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Right, right.

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What we're looking for are those plays in the marketplace where the market draws us

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to solve problems in a replicable way.

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So when I said it's from the customer in, we don't just look at one customer and say,

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"Ah, we've solved that problem, we can build a framework."

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This is over and over again where we see the same problem where the solution repeats itself.

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That's when we decide it's time to build a framework.

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Okay.

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It's time for us to harden this in some way that we can make that repeatability.

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But even by geo, it doesn't seem like you're...

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There's clearly a lot of selectivity around which geographies to target with which frameworks as well.

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It's actually the flip side of that.

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It's which geographies require the frameworks as opposed to us building a framework and taking it to a geography.

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Okay.

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We get the geographies pull us in.

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So for instance, in China, there's a lot of movement around how do I leapfrog my competition.

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Robert talked this morning about the retailer who was very, very concerned that the decentralization that was occurring

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was going to cause the deregulation.

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Deregulation, right.

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Deregulation is going to cause the foreign people to come in.

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Deregulation is coming.

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Deregulation is coming.

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Deregulation is coming.

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Deregulation is coming.

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Deregulation is coming.

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Deregulation is coming.

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Deregulation is coming.

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Deregulation is coming.

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Deregulation is coming.

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Deregulation is coming.

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Deregulation is coming.

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Deregulation is coming.

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Deregulation is coming.

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Yeah.

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Deregulation is coming.

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us in for, you know, the need to differentiate. And upon those engagements is how we build

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frameworks. So, you know, if it's in a growth market like China, great. And we see that

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oftentimes what they look for is somewhat different than, for instance, what the United

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States banks are looking for, where they want to really look at their core banking system.

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My big question is just about risk in general in this environment. The situation is changing

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so fast, BZIB investment, that there are investments that were in place that are being

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cut. There are spending freezes in numerous areas.

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Clearly, IBM has an opportunity as a flight to quality.

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Just from a risk management perspective, these are by nature long sale cycle kind of deals.

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You know, very complicated. And surely, it's quite damaging if one of those deals doesn't

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come through. I mean, what's the sort of, just at the sort of the risk management of your own

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portfolio level, how is IBM going to manage that risk? Because it just feels to me, clearly,

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IBM has a lot of confidence, which is great, that it can weather the storm. But what are some of the

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things you could do to mitigate that in terms of the customer?

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So, first of all, I think there are a couple things going on. First and foremost, it's really

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important to have the skills close to the customer. And so, you know, in terms of travel restrictions,

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that doesn't worry me. Because we have people in the geographies next to our customer who know

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how to do this. And we'll continue to build those skills from the geography up. We'll go and we'll hire

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people in India. We'll go and we'll hire people in Korea. And we'll teach them the portfolio.

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Because many of them will already come to us with the industry.

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It's funny. My colleague, Coté, he Twittered today. He had quite a nice comment. He said,

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"IBM's smart planet program. That should probably mean having geographies that are smart enough

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not need to fly a Yankee over to install the software."

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Well, there you go. And that's exactly what we're trying to do. We're trying to build the

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competency in the geography. And by the way, customers really appreciate that. Because they look at us and they

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they recognize the fact that by doing that, you build the capability within their own environment.

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And that helps to build their economy and strengthen their economy. You know what's going on. You're in there.

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Okay. You understand the nature of the environment. You understand the dynamics of the business. You

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understand that industry. So you kind of, I mean, nobody could have anticipated what happened. And so we're all

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living in react mode. But how do you tell you-

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We just didn't know when it was going to happen. We knew something bad was going to happen. We just didn't know when.

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We didn't know when and how bad. But I think actually that, you know, another point in terms of mitigating risk, I

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actually don't believe that customers are going to fear what we're doing here. I think they're going to embrace it.

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And I'll tell you why. You mentioned long sales cycles. Not necessarily. When you look at a framework, you see a plethora of stuff.

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But customers don't buy all that stuff. They don't buy the framework. What they buy is an on-ramp. They look to solve a particular problem.

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And they look for somebody who has a vision that if you solve that particular problem, which, by the way, can be done fairly quickly in most cases.

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I think nine months was one of the stories that we heard this morning where a customer got instantaneous ROI. I mean, nine months is pretty good.

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You can then branch off of that same implementation onto other problem areas without having to reinvent the wheel, without having to rip and replace,

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without having to buy a ton more stuff, because we have a vision on how this thing plays out over a period of time.

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And that's called a framework. Customers see that, and they relax. They say, "Okay, first of all, very fast time to value."

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IBM has already taken the pieces, pieced them together in an optimized way, so I don't have to do that integration.

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I can work with GBS. I can work with my business partner. I can work with whomever I want to customize it.

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I can use the applications that I have in-house today, because IBM has already done the integration to those applications.

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I mean, we have many ISVs that we work with, big and small, regional, which is very important.

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In that China customer we talked about this morning, we worked with a regional ISV. It's somebody that they had worked with for many, many years.

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And it was very important to that customer that that ISV's application ran well on our stack.

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And so to them, that's a time to value statement. And they know that if they can get all that in one stack, they can implement very fast.

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So it's about making the platform consumable, making it domain-specific so that it has those industry assets that they don't necessarily have nor do they want to build.

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And then it's about putting it in front of them in a way that is consumable to their business, because we live in a heterogeneous world.

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I mean, we're in an environment where we have to make it work within the world that they live in. It's not about it being all.

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I look at risk mitigation in my portfolio. There are some pieces of my portfolio where we're doing very far-reaching things like intelligent utilities.

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I love that stuff, by the way. That's a whole subject. I mean, we're going to be doing a lot about that.

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And we can have a separate conversation about that, but that is really about redefining business and defining new business models, which in tough economies the innovators do.

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But there are others that retrench. And so things like core banking, getting back to the core businesses that you have, will fit very well.

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So I think our portfolio is already well balanced.

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Well, there are a couple of things. A, I mean, you talk about tough times.

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It was, again, a great Twitter this morning. Someone pointed out, "Oh, you know, things were as bad as they were in 1977."

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I don't remember that as being bad, but I was only seven at the time.

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But they said, "Yeah, so bad that Apple and Microsoft were both formed that year."

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So we are definitely going to see some new players. We're going to see some disruptions.

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Finish up now. It's three threes. So three most important verticals.

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Now, I know that you actually have five, but let's just cut it down to three.

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Three most important verticals, three most important solutions within that, and then three most important geos.

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And I'm going to ask you countries rather than any broader.

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So I'm interested in the top three verticals that you think are going to be most important.

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It's hard to pick the top three verticals worldwide because they do differ by geography.

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But I would say, across the board, financial services.

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And I don't think that's going to change, even given the environment.

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I think it's going to be more important. Telecommunications, for sure.

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And then I would say government.

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I think actually government is going to become far more important because you're going to see far more regulation as a result of what's occurred here.

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Absolutely.

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And so I think you're going to see more confusing.

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Well, everybody, we all work for the government now, don't we?

223
00:13:05,760 --> 00:13:06,760
Don't we?

224
00:13:06,760 --> 00:13:07,760
Financial services, they work for the government.

225
00:13:07,760 --> 00:13:08,760
For the most part, they're part of public sector.

226
00:13:08,760 --> 00:13:09,760
Next year, we're going to, yeah.

227
00:13:09,760 --> 00:13:11,760
Yeah, we're going to, auto manufacturing in the public sector.

228
00:13:11,760 --> 00:13:12,760
Come on.

229
00:13:12,760 --> 00:13:15,760
I mean, it's, actually, that was the '70s, isn't it?

230
00:13:15,760 --> 00:13:17,760
British Leyland and, yeah, absolutely.

231
00:13:17,760 --> 00:13:18,760
Precisely.

232
00:13:18,760 --> 00:13:19,760
So I would say those are the three top.

233
00:13:19,760 --> 00:13:20,760
So everybody works for the man.

234
00:13:20,760 --> 00:13:21,760
Okay.

235
00:13:21,760 --> 00:13:22,760
Right.

236
00:13:22,760 --> 00:13:23,760
I would say in terms of geography, I think Robert pointed them out for you.

237
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It's Russia, it's China, and it's India.

238
00:13:25,760 --> 00:13:27,760
And that's major growth markets for us.

239
00:13:27,760 --> 00:13:29,760
And we expect that to continue.

240
00:13:31,760 --> 00:13:32,760
We do expect that to continue.

241
00:13:32,760 --> 00:13:33,760
And the other third one.

242
00:13:33,760 --> 00:13:35,760
Well, I guess it would be the specific solutions within that.

243
00:13:35,760 --> 00:13:40,760
So I think customer centricity is going to continue to be hot, hot, hot.

244
00:13:40,760 --> 00:13:44,760
Risk is going to become incredibly hot, for sure.

245
00:13:44,760 --> 00:13:45,760
Right.

246
00:13:45,760 --> 00:13:49,760
And then I think things like operational efficiencies, like supply chain efficiency,

247
00:13:49,760 --> 00:13:52,760
or operational efficiencies in the government around regulations,

248
00:13:52,760 --> 00:13:56,760
anything that talks about efficiencies or governance are going to become very important.

249
00:13:56,760 --> 00:13:57,760
Karen, thank you so much.

250
00:13:57,760 --> 00:13:58,760
My pleasure.

251
00:13:58,760 --> 00:14:00,760
Really nice working with you and safe trip back to life.

252
00:14:00,760 --> 00:14:01,740
Okay, thank you.

253
00:14:01,760 --> 00:14:31,740
Thank you.