The power of community will fuel a revolution in the way we do business. This is the premise of Coupa Chairman and CEO Rob Bernshteyn’s new book, Smarter Together: How Communities are Shaping the Next Revolution in Business, which published today (Greenleaf Book Group, September 2020).
The book’s core idea is that none of us is as smart as all of us, and that leveraging anonymous, aggregate data from all members of the community will be the answer to the question of where we can find additional information to drive value in today’s increasingly competitive marketplace. Bernshteyn refers to this concept as Community Intelligence, and views it as a game-changer that will enable businesses to operate with more efficiency and agility in the future.
“The confluence of community and technology in the enterprise software industry is showing signs of incredible potential. Finally, we are amassing enough data, generating the computing speed required, and thus starting to gain the benefits that are coming with instant information sharing and collaboration,” said Bernshteyn. “I couldn’t be more convinced that now is the time for businesses to adopt Community Intelligence, which is in part, why I wrote the book. It’s very much a call-to-action to join this revolution, and in doing so, we will all become smarter together.”
“In the past two decades, the most powerful consumer companies building the best products and business models have leveraged Community Intelligence in new ways to deliver tremendous value to users, to partners, and to investors. In the near future, most enterprise companies will either adopt this weapon or be destroyed by new entrants to their fields who do,” said Noam Bardin, CEO at Waze. “Rob Bernshteyn’s book is a great analysis of this weapon and a practical guide to how to use it in the business, rather than consumer, market. Your current or future competitor is reading it and applying it to your industry. Ignore it at your own peril.”
In the book, Bernshteyn describes the impact that Community Intelligence will have on industries, companies, and individuals.
- Industries: Exposing objective, real-time patterns and forward-looking insights that serve as leading indicators for what is going to happen in the future.
- Companies: Providing fully anonymized cross-company data that enables each company to see around corners, make both strategic and instant hairpin turns in its decisions, and increase its operating efficiencies.
- Individuals: Empowering employees to do their jobs better, identify new ways to create value for their companies, and become a decision-making force in their organizations.
Additionally, Bernshteyn points to many examples of Community Intelligence today. “There are green shoots that can be seen all around us that shape our daily decisions, whether it’s where to go and how to get there, where to eat, what to buy, or how to stay fit,” he said.
He also shares insights on how companies can use Community Intelligence across their business functions ranging from business spend management (BSM), and customer relationship management (CRM) to human capital management (HCM), and supply chain management.
To hear more from Rob on how sharing across the global business community will enable us all to be Smarter Together, register to attend the Smarter Together Global Virtual Event.