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Reachable Signs S&P Capital IQ to leverage People Data on Social Selling and Enterprise Networking Platform

Posted by | Press Releases | No Comments

NEW YORK, NY – July 22, 2014 — Reachable, Inc., a technology company that helps enterprises leverage their relationships for competitive advantage, today announced an agreement with S&P Capital IQ, a leading provider of business research, data and analytics, to provide S&P Capital IQ’s “People Data” on Reachable’s social selling and enterprise networking platform.

Reachable is a third-generation social networking system that enables an enterprise to better leverage its collective rolodex by answering the question “who knows who?”. The web-based platform has unique relationship mapping and scoring, tracking lists and alerts. Under their agreement, S&P Capital IQ’s people data and company profiles are available on the Reachable platform. This unique combination allows Reachable technology to sit on top of verified, institutional quality data – a competitive advantage in leveraging the collective power of personal networks.

“Our combined solution enables users who are involved in business development to be more proactive and gain additional insights on relationship networks that can drive larger opportunities,” said Tim Walker, Managing Director and Head of Global Channel Sales at S&P Capital IQ. “We believe it enhances productivity by giving users a better understanding of customers and what collective relationships they can leverage to reach them.”

“We are very pleased to partner with S&P Capital IQ to offer a compelling product to enterprises wishing to increase revenue generation and retention, and improve their competitive edge,” commented Laurent Ohana, CEO of Reachable. “Reachable enables professionals to aggregate all their social and business contacts on a single unified platform and helps them find the best pathways to business executives they want to reach by leveraging data in their personal contacts and, through Reachable’s enterprise business networking platform, across their enterprise and in premium databases.

The S&P Capital IQ People Database is backed by specialized information management professionals and analysts dedicated to collecting and continuously updating information about some of the most important companies in the US and internationally, including financial institutions, private equity funds, investment banks, asset managers, non-profit entities, educational institutions, and public and private corporations in every key market around the world. Its integration with the Reachable social selling and enterprise networking platform will provide enterprise customers with unique insights and unparalleled access to validated business connections across a global set of companies and executives.

About S&P Capital IQ

S&P Capital IQ, a business unit of McGraw Hill Financial (NYSE:MHFI), is a leading provider of multi-asset class and real time data, research and analytics to institutional investors, investment and commercial banks, investment advisors and wealth managers, corporations and universities around the world.

S&P Capital IQ provides a broad suite of capabilities designed to help track performance, generate alpha, and identify new trading and investment ideas, and perform risk analysis and mitigation strategies. Through leading desktop solutions such as the S&P Capital IQ, Global Credit Portal and MarketScope Advisor desktops; enterprise solutions such as S&P Capital IQ Valuations; and research offerings, including Leveraged Commentary & Data, Global Markets Intelligence, and company and funds research, S&P Capital IQ sharpens financial intelligence into the wisdom today’s investors need. For more information, visit www.spcapitaliq.com. S&P Capital IQ’s Channel Partnerships Team creates new strategic partnerships and fosters the development of integrated relationships with third-party platforms, technology vendors and start-ups to provide our clients varied access to our data and analytics. They understand the evolving delivery needs of clients, and work to continuously support and enable their growth and success.

About Reachable, Inc.

Reachable, Inc. is a provider of enterprise social networking and social selling solutions that help professionals and enterprises better leverage their relationships to drive sales, business development and recruiting processes. Using patented graph technology, proprietary algorithms, and an architecture designed to protect the confidentiality, privacy and proprietary nature of relationships while still sharing their benefits within enterprises, Reachable is helping to reinvent the world of enterprise business networking. For more about Reachable, please visit www.reachable.com.

Media Contacts

Michael Privitera, S&P Capital IQ, michael.privitera@spcapitaliq.com
212.438.6679
Renee Harper, Reachable, Inc., renee.harper@reachable.com
212.480.1312
Andria Arena, Reachable, Inc., andria.arena@reachable.com

Fostering Collaboration to Leverage the Enterprise Business Graph

Posted by | Enterprise Collaboration, Opinion, Privacy, Product, Solutions | No Comments

Reachable has received a tremendous response to its approach to fostering collaboration in the enterprise about personal contacts and relationships.  When we started talking to companies about the fact that they had an Enterprise Business Graph and that they should learn to use it, we had to explain to people WHAT was it was we were talking about.  We explained that one of the greatest assets of a company was who it and its employees knew.  (Some refer to this to as the Social Capital of a company but we feel this term to be too restrictive.)

The conversation with clients and prospects has now shifted from WHAT to HOW — how do we enable companies to leverage relationships?  It has become a hot topic and most of the incoming enquiries we get now are from people who are aware they have an untapped asset they should leverage.

The first thing we tell these clients is that leveraging relationships is not a science, it’s an art.  As well, we strongly believe that while automation has a role, it should not be applied to tracking interactions that employees have with others via email, phone, social networks, and chat — tracking and spying engender distrust and there is no way that people will collaborate when they feel violated.  We are not luddites and are quite adept in the use of Big Data analytics and algorithms to do what we do, but we don’t believe in simplistic technical solutions to solve complex social dynamics issues.

At the core of our approach is a data ownership and privacy policy that is really a paradigm shift in current practice in the CRM world.  We introduced the Bring Your Own Data/Take Your Own Data (BYOD/TYOD) policy to the market and it is catching on.  Basically, we believe that contact data that employees bring to an enterprise belongs to them.  Attempts by an enterprise to appropriate this data by requiring that it be entered in the CRM system are doomed — people don’t enter their contacts into the CRM system, and they are less likely to enter LinkedIn, Facebook and Twitter contacts/friends/followers into CRM systems.  We do hear from time to time lawyers arguing that “this employee met this person at a company event and then connected on LinkedIn so the contact belongs to the company.” What does that even mean?

Reachable provides every person on the planet with a private, portable, and connectable web-based contact manager.  Private: Reachable’s Contact Manager belongs to the person who creates it and populates it with data.  It does not belong to the enterprise, even if the enterprise pays for special features and data enrichment that enhance the value of Reachable to the user.  Let’s be clear: we don’t give the enterprise a copy of the data in the Reachable Contact Manager.  Portable: When a person leaves the employer where they got access to Reachable, they can take the Reachable Contact Manager with them (but they lose the enhanced functionality paid for by the employer).  Does that mean that the enterprise loses the relationship data that the person brought with her to the enterprise?  Yes, it does.  Connectable:  Owners of Reachable Contact Managers can opt-in to enterprise groups (a TeamReach group) and allow their contact info to be mined by Reachable’s algorithms so that their contacts appear in connection paths generated for other TeamReach users.  At that point, Reachable tells the other person searching for the path that a colleague has a useful connection, and that they should contact that colleague and ask for insights about that relationship.  When connecting Reachable Contact Managers with other Reachable Contact Managers no data is shared or transferred — Reachable sees all the data and connects the dots where and when appropriate without data leakage.  In this manner, an entire enterprise and its ecosystem can become aware of each other’s contacts without giving them up to anyone. We think this is very powerful.

It’s a basic precept of human behavior that if you try to take something I care about I will never share it with you.  Relationships are extremely important to people and the mere hint of mishandling personal relationships will cause the entire idea of collaboration around contacts in the enterprise to go up in smoke.  Spying won’t engender trust and will violate privacy, which will cause companies that over-automate a lot of grief and embarrassment.

Reachable offers a foundation for enterprise collaboration around relationships and contacts.  It inventories relationships and collects data about the professional and educational biographies of people and infers who might be connected to whom using its proprietary algorithms.  But that data is used to show paths that could be useful, it is not shared.  By suggesting who might help who, we engender conversations and discovery of useful intelligence in sales, marketing and recruitment.  Technology does its job, then it’s up to people to create bonds of trust and choose to collaborate.

If your enterprise is people friendly and wants to unleash the power of its Enterprise Business Graph today, we invite you to connect with us today at sales@reachable.com or go to our web site at www.reachable.com.  Follow us on Twitter, Friend us on Facebook and Connect with us on LinkedIn.  Feel free to leave a comment here or on other social platforms.

Laurent Ohana, CEO

The Enterprise Business Graph

Posted by | General, Product, Solutions | No Comments

Online social networks have enabled a revolution in communications of unprecedented reach, empowering people to easily connect and reconnect with friends, family and professional contacts.  By giving people the tools to communicate in new ways, social networks like Facebook and LinkedIn have been able to amass a tremendous amount of information about people and their relationships and now manage large “social graphs” which they are monetizing by selling access to their user data.  Facebook sells demographic and purchasing preference data to advertisers, and LinkedIn sells access to its professional audience’s biographical and work experience information to recruiters.  They are both immensely profitable demonstrating that social graph data is extremely valuable.

Public social networks’ appeal lies in their providing a valuable utility to individual users.  They were never intended to be enterprise tools, although enterprises have used them for outward looking activities such as marketing and messaging, on Facebook, and recruiting, on LinkedIn.  Further, since public social networks’ business model is geared to selling their members’ data their interests are antithetical to the interest of enterprises.  Enterprises are clearly not interested in having their entire workforces conducting business on public social networks, inadvertently leaking enterprise activities (travel plans, connections with prospects, or descriptions of the projects on which they are working or have worked) on their Facebook and LinkedIn activity streams, or even worse, having their workforce’s detailed skills and expertise marketed to competitors.

We at Reachable believe that while public social networks have amassed massive relationship data (Friends, Followers and Connections) about their users, this relationship data cannot be readily leveraged by enterprises or by the users themselves in an enterprise context.

Reachable set out to develop the tools to enable enterprises to amass and leverage their own relationship data into an enterprise social graph or, as we call it, an Enterprise Business Graph.

Reachable’s “EBG” have a number of critical features:

  • Reachable is a cloud-based, private platform.  On Reachable, an enterprise can develop its Enterprise Business Graph without exposing its proprietary data to the world.  Reachable has also designed privacy rules and controls designed to protect users’ Social Capital as it is brought within the enterprise IT environment on personal devices and personal cloud services.
  • Reachable integrates social data from employees (imported from their social networks and contact managers) with enterprise data found in CRM systems and other data repositories.  Enterprise data includes information about commercial relationships with vendors, customers, partners and other entities.   These entities have an incentive to share insights about prospects and accounts with the enterprise for their mutual benefits. These special relationships can be brought into the Enterprise Business Graph and exposed to the necessary employees in the company.
  • Reachable’s initial focus is on leveraging the Enterprise Business Graph for sales and business development.  Reachable answers the questions “Who do We Know?” at the enterprise level to identify paths from sales teams to prospects that leverage their own connections, connections of colleagues, and special relationships that the enterprise has with other entities.  Reachable is geared to facilitate the creation of a comprehensive EBG covering the entire enterprise, and to facilitate the sharing of insights inside the enterprise about prospects and accounts.

We at Reachable believe that no effective implementation of “social enterprise” technology can evolve into a strategic business system to leverage the social capital of an enterprise, or its Enterprise Business Graph, unless it is private and can intelligently manage enterprise relationship data and individual relationship data.  We believe that Reachable has developed the tools to build Enterprise Business Graphs and that it has the knowhow to help enterprises create the policies to engender use of this new powerful business system.

Use The Power of Personal Connections with Reachable

Posted by | In the News | No Comments

As salespeople, we have always tried to leverage our friends, our Rolodex and now our social networking connections to improve our chances for making a sale. The team at Reachable has taken this tendency and focused the power of its web tool on this tendency, with exciting results. I now have my LinkedIn, Facebook, Google and Outlook connections working for me within Reachable. Read More

Social Discovery of Business Relationships

Posted by | Opinion | No Comments

Enterprises big and small are realizing that the capabilities introduced in consumer social networks can add immense value and productivity to the corporate world.  The growth in adoption of enterprise social networking tools like Yammer, Chatter and Jive is evidence that the way companies communicate internally among employees and externally with customers and partners is changing dramatically and permanently. Read More

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