Sramana Mitra: When you look at Fortune 500 or Global 2000 customer base, what is the percentage of penetration of this kind of technology?
Terrence McCrossan: Gartner’s data is probably the best proxy for market penetration. They estimate that just 5% of large organizations are using automated analysis tools as part of their audit process. It’s a marketplace that has significant growth.>>>
Entrepreneurs are invited to the 453rd FREE online 1Mby1M mentoring roundtable on Thursday, August 8, 2019, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST.
If you are a serious entrepreneur, register to “pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.
You can learn more here and register to pitch or attend here. Everyone who registers will receive a recording of the event. Please share with any entrepreneurs in your circle who may be interested. All are welcome!
Cloud-based enterprise services provider ServiceNow (NYSE: NOW) recently announced its second quarter results that outpaced market expectations. Right after the results, its stock registered a 60% price increase since the start of the year. Given ServiceNow’s growing tie-ups to expand market reach, that growth will most likely continue.>>>
Nnamdi Okike: A second one in a different category is a business called Overtime. Overtime is headquartered in New York. I describe Overtime as ESPN meets Snapchat. It’s very viral content. It’s user-generated.
It focuses on the millennial generation that consumes content in a very different way. They’re looking at highlights. They are sharing things on social media. Oftentimes, they’re not watching the full game. They really want to get inside the game and understand the players and players’ lives.>>>
The audit function at enterprises is ripe for automation. Read on to learn what’s happening.
Sramana Mitra: Let’s start at the very beginning by introducing yourself as well as Oversight Systems.
Terrence McCrossan: I’m the CEO of Oversight Systems. Oversight is an Atlanta, Georgia-based company that is a leader in AI-based process automation and transaction analysis.>>>
TiE Kolkata is hosting this in-person 1Mby1M Roundtable with Sramana Mitra at the Indus Net HUB in Kolkata, India, on Saturday, August 24. Registration begins at 3:30 p.m. and the program starts at 4:00 p.m.
Up to five entrepreneurs will be able to pitch their businesses during this roundtable. If you are a serious entrepreneur, register to “Pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others can register to “Attend” to watch and learn.
This is a free event for TiE Kolkata members. Non-members will be charged a small fee at the door. You can learn more and REGISTER HERE.
After a decade of losses, layoffs, and declining usage, Twitter finally looks fit. It has had seven straight profitable quarters and usage has been steadily rising in the past two years. Its shares soared 44% following its recent strong quarter.>>>
Sramana Mitra: Also I think it’s much easier to build companies when you don’t have your scalp being poached all the time. It’s impossible to build companies when your team is constantly being poached. If you’re located in a major location where there is a lot of competition for talent, it’s very problematic.
Nnamdi Okike: Yes, that’s a great point.>>>