| | MARCH 20218CIOReviewIN MY OPINIONTHE OPERATIONS OF GETTING TO IMPROVED OPERATIONSBy Robert Hannan, EVP Managing Director, Operations, Carat USAIts 9:30AM, have you had a chance to review the latest (seemingly overnight) updates on new technology and automation solutions yet?With advancements in technology and the advent of AI/ML solutions, there seem to be daily requests from external technology providers to review the `newest' and `best' platforms to help our teams unlock actionable insights for media placements leading to optimization of media spend and increased impact for brands. We are continuously automating in many areas of our business, not only improving client service quality, but empowering our people to reduce and replace non-value add tasks with those that create more strategic value.New tech solution pitches are always enticing propositions, but how do you find time to keep up with all the latest options as you manage your day to day business requirements?According to MarTech Today, we have seen an increase from 150 tech providers in 2011 to well over 5,000 today.So, what is a busy marketing professional to do?Within Carat, we have put processes in place to stay up on the latest in tech advancements and hone our focus to solutions that solve for current and future business challenges for our business and improve our service to our clients.We do this through some very simple mechanisms of technology assessment, total cost of ownership analysis and system testing. No groundbreaking concepts in and of themselves, but together their discipline and focus allow for more laser focus on where we want to spend our time and testing budget.Technology AssessmentIt all starts with a technology assessment process that each potential tech provider completes and submits to the agency. This is designed to capture the a broad understanding of the provider, business challenges the solution solves, supplier commercial model, implementation requirements as well as product, process and, most importantly, people impact. The tech assessments are reviewed by a multi-disciplinary team comprised of technology, product, operations and finance representatives to evaluate the offering from all perspectives and approve a more detailed review, which leads us to the next step.Total Cost of Ownership EvaluationFrom the information gathered on the assessment, we determine interest and, where appropriate, engage in more detailed evaluations to fully understand all aspects of the offering. Instrumental to this is how we outline the total cost
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