I Asked Gong CFO Tim Ritters How Security Vendors can Sell to the C-Suite
No longer is Security just about selling isolated products based on fear.
Gong, a privately-held pioneer in sales conversation analytics, operates at the crossroads of technology and business growth. With a clientele that boasts names like ADT, Indeed, LinkedIn, and Zillow, Gong's data-driven expertise positions them to offer invaluable perspectives on evolving security solutions in a tightening economic climate.
With this in mind, I recently spoke with Gong's CFO Tim Ritters on how Security Integrators might better appeal to and access the C-suite:
Scott:
Are you involved in security purchasing decisions, and if so, what advice can you give to Security Integrators with regards to selling to the C-suite, specifically CFOs?
Tim Ritter:
Security in general is something CFOs get frustrated at, but that’s a good thing and I’ll tell you why…
Security spend has generally been one of the most insulated spends, despite all of the tightening and the macro… we all kind of intuitively understand that there’s an arms race in security, that we have to keep investing more and more in security, even if we don’t intuitively understand the ROI.
Where CFOs push on security spend… we want to partner with a company that has a vision for a platform or more wide-encompassing solution. Would you rather have one, two, three vendors or hundreds?
Because it’s something so hard to manage and ROI is hard to pencil out with a businesses like security, I think the best way to pitch someone like myself is by telling me the completeness of your vision so we can leverage your tools and technologies and potentially shut down other technologies because you have a full product portfolio.
My question and Tim’s subsequent response confirms the notion that by the time security concerns reach the C-suite, the need for security solutions is already recognized. The decision is no longer about 'if' but 'which'.
Drawing from Tim's perspective, it's evident that while gauging the exact ROI (return on investment) for security is a hurdle, this doesn't solely drive decision-making. Amid geopolitical tensions, looming cyber threats, and tech innovations, CFOs, even if not fully versed in the technical nuances, grasp the urgent need for robust security. This understanding transcends cost, leaning more towards holistic solutions that address industry complexities.
As Tim Ritter insightfully notes, CFOs are on the lookout for innovative security solutions – systems that promise a more encompassing, integrated approach. Why juggle hundreds of vendors when a select few can provide comprehensive solutions?
This perspective underscores a transformative phase in the Electronic (Physical) Security industry, emphasizing the burgeoning need for interoperability, or, the ability of different information systems, devices, or applications to connect, communicate, and work together effectively. It ensures that various systems can exchange and interpret shared data, providing a seamless flow of information.
No longer is it just about selling isolated products based on fear.
The modern narrative emphasizes tech prowess, analytics, AI, data optimization and creative problem-solving.
And for Security Integrators targeting the C-suite, particularly CFOs, the challenge is to articulate a holistic vision that not only counters threats but also enhances and streamlines existing tools.
In essence, the market demand for interoperable security technology is surging. Those Integrators and Manufacturers who can ingeniously craft and pitch integrated solutions stand poised to lead.
Special thanks to Chris Orlob of pclub.io for facilitating this interview
Tags:
#SecuritySolutions #CFOAdvice #TechInnovation #Interoperability #BusinessLeadership #CyberSecurity #IndustryInsights #IntegratedSolutions #FutureofSecurity #DigitalTransformation #security #ai