Asian, Latin American Corporate Intelligence Technology Users Claimed to be “More Sophisticated” than those in US, Europe, Sweeping Global Survey of Almost 500 Companies Finds
Global CI Benchmarking Project, Largest in Industry, Ranks “World Class” Characteristics and Reviews Software Packages
Cambridge, MA (August 21, 2008) – Corporate cultures of such diverse countries as Israel, India, Sweden and Brazil are more likely than those of the United States and Europe to embrace and adapt competitive intelligence technology solutions than those of the United States and Europe, according to a recent benchmarking survey by Fuld & Company here. The survey, “Tech Super Users & Tech Kryptonite: Latest findings from the Fuld & Company Global CI Benchmarking Project™,” included in its 2008/2009 Intelligence Software Report, is based on findings from 480 companies worldwide.
“Watching rivals is a process driven by people. And process always trumps technology; yet, technology increasingly plays a role, especially when management must keep track of complex, global markets. ‘World class’ –or ‘Super Tech’– corporate and competitive intelligence software users have specific characteristics all over the world,” said Leonard Fuld, president of Fuld & Company and one of the coauthors of the report.
“Management at major corporations worldwide are increasingly having their guidance shaped by competitive intelligence and the internal organizations which supportsit – suggesting that this asset has a value in excess of its capital investment.”
In 2006, Fuld & Company launched a global survey to examine corporate intelligence programs. To date the CI Benchmarking Project has collected data from over 480 companies worldwide. The Project is regarded as the most comprehensive database of its kind worldwide.
The survey found:
–Over 60 percent of the super tech users have budgets of over one million dollars, with more than 40 percent having budgets of over two million dollars.
- More than 60 percent of the top-rated programs are housed in either technology or pharmaceutical companies;
- Companies from Israel, India, Sweden, and Brazil rank as the most sophisticated technology users for corporate intelligence programs with the United States and most European companies falling into the middle or the bottom of the rankings.
The survey also identified organizational activities that can undermine corporate intelligence support, Fuld said. These included:
• Immaturity: Over two-thirds of these highly-rated technology- supported intelligence programs are four years old or older, implying that technology works better in mature programs with well-constructed networks, and mature, experienced management;
• Lack of Money: Nearly all of these tech-successful programs had budgets of over one million dollars for their intelligence programs overall, with most having budgets in excess of two million dollars
• Lack of process. Technology initiatives can be undermined by a lack of defined roles and responsibilities, skill building in primary research, building in an ability to do analysis, a training regimen, defined organization structure and reporting relationships, and business-wide awareness of the intelligence program
Additional Survey Findings
Over a dozen of the companies in the database were contacted about their experience with over a dozen specific corporate intelligence software packages, as well as their experiences with internally developed solutions. A majority of the respondents used off-the-shelf software or customized their own technology for use in their corporate intelligence programs.
About The Intelligence Software Report® and Fuld & Company
Published by Fuld & Company for the past decade, The Intelligence Software Report is the first publication to review technologies in the competitive intelligence industry. Fuld & Company, based in Cambridge, Mass (US) with offices in London (UK), is the world’s preeminent research and consulting firm in the field of competitive intelligence. Founded by Leonard Fuld, a pioneer and recognized leading authority in the field, Fuld & Company is a full-service competitive intelligence firm, providing research and analysis, strategic gaming, business intelligence process consulting, and training to help clients understand the external competitive environment. Our ultimate goal is to help our clients improve their performance by making better decisions through the application of solid intelligence on their markets and competitors. A copy of the report, along with additional information about Fuld & Company, can be found at www.fuld.com.