A management consulting firm provides professional expertise and specialized service for a fee, through the use of consultants. These consultants possess a broad spectrum of skills in various domains like management, engineering, etc. These management consultants work with businesses to enhance their performance and encourage growth across various functions like business strategy, finance, HR and marketing.
Organisations hire management consulting firms to help them answer hard questions that they are facing in a bid to work through the roadblocks that they face. Their worth lies in the specific expertise they offer.
Their answer matters which is why they are expensive to hire
They are rare and offer solutions that are unusual and unique
Their expertise is a result of access to cross-industry and cross-functions which gives them insights not often available to others
Size of Global Consulting Market from 2015 to 2020
McKinsey & Company is one such management consultancy firm that delivers asset-based insightful consultancy that makes a quicker impact on the client’s performance. Their solutions leverage advanced technologies, proprietary data and deep expertise through four steps:
Diagnostics
Market Intelligence
Management Technology
Analytics
Their expert consulting ranges from Agriculture to Healthcare Systems & Services, Oil & Gas, Financial Services, Metals & Mining, Retail, Electric Power and Natural Gas, Aerospace & Defence and Technology & Media and Communication.
Within the space of each industry, the consulting firm offers unique and insightful solutions based on specific business functions:
Businesses function with foresight along a focused path to reach a pre-determined goal. There are obstacles, challenges and various deviations that businesses encounter that require thoughtful and contemplative responses and resolutions. This is where McKinsey suggests a specifically designed 4-step approach:
Reduce product cost through Cleansheet Analysis.
Leverage digital to stay competitive through Digital 20/20.
Improve network reliability and reduce costs with predictive asset maintenance through Power Solutions.
Get data-driven insights for wealth management through PriceMetrix.
Making presentations is easy. One would think so, but making a presentation that is effective, concise, focused, action-oriented, filled with new insights and delivers an action plan that points to a realistic path to the final goal is a challenge. Designing such a presentation requires skills, careful thought and a structured template that can be applied to the various needs of any business.
As a Management consultant with a global reputation, McKinsey & Company has devised such a template. Their presentation employs three simple concepts – Story, Flow and Structured Arguments.
The entire presentation is broken down into different stages. It begins with engaging the audience and feeding their curiosity about why the audience needs to read. The stages are:
SCQA Framework
The SCQA framework refers to four points that set the tone of the entire presentation.
Situation (S) – What is the current stage of the company? This details the current status of the company and the path it is on. Also, it subtly introduces that the company is likely to stay at this stage if there is no intervention.
Complication (C) – What needs to change? This refers to the complications like the owners would like to see higher profits, expansions, more ROI, etc.
Question (Q) – How can the complication be solved? The Complication leads to this question – What can the owners do next to achieve their goals and ambitions?
Answer (A) – This deserves its own slide – up next This is where the engagement happens. The stage is now set and the audience is fully engaged and curious about the next step.
Leading with the Answer
The fourth point of the previous slide (the answer) is the one that is displayed here. The examples for this particular answer follow in the upcoming slides. This allows the audience time to digest the answer. It also creates confusion and questions which is advantageous when following up with the reasons for this answer.
Employing the Pyramid Principle
The Pyramid Principle for Presentations
Now come the reasons for the answer that was provided in the previous slide. The answer is backed by 3-5 key arguments. These arguments, in turn, are supported by facts, figures and data. To drive the point home more firmly, each argument is depicted using the pyramid principle. Clarity is achieved by showcasing one argument per slide. There are no overlaps and nothing is missing.
Build a Storyline
The main idea is that the answer along with its reasonings and arguments is driven across to the owners. This is achieved by combining all the previous slides into one and building a compelling storyline. This includes presenting the key takeaways, the main arguments supporting the final answer and the reasons why the owners must care.
The Slide Title Justifies the Goal
This final slide is the last stage that firmly drives the conviction deeper. This slide supports the point made in the title. It explains how the data leads to the key takeaways. It shows the supporting findings and data that were highlighted in the pyramids and it gives context to the arguments.
As management consultants, understanding the inner functions of their client’s business processes is second nature to McKinsey. However, analysing the data, breaking down the process complexity, deriving insights from the market study and research and strategic execution for growth and expansion is a process that McKinsey has uniquely made its own.
Traditionally, McKinsey’s consultancy charges are approximately 25% higher than the market. The book that was published in 1999, ‘The McKinsey Way’ said that their consultants designed and implemented studies to evaluate management decisions using data and interviews.
Conclusion
McKinsey builds stories that are clear and persuasive. Stories that are supported by data and numbers. Stories that are easy to execute and converted to successful realities. There is no doubt as to the reasons behind their high fees per presentation.
FAQs
How much does McKinsey charge its clients?
McKinsey charges its clients between $500,000 to $1,250,000. This cost varies depending on the length of the case and the number of consultants required.
How do you make a McKinsey presentation?
The basics for making a McKinsey presentation are to use the same font size for the entire slide body, not write outside the margins and make sure to keep the font size for all the titles in a presentation is same and the titles are not more than two lines. Also, ensure that all slides ultimately prove a single solid point.
The Indians have always led from the front when it comes to entrepreneurship. With various big companies like Google and Microsoft being led by Indians, it is no doubt that India is a hub of leaders. Well, let us talk about one of the most prestigious brands, Adobe Inc. You might be surprised to know that the CEO of the company is an Indian too. Meet Mr. Shantanu Narayen, the man behind Adobe’s success, CEO of Adobe since 2007.
Name
Shantanu Narayen
Born
Hyderabad, India
Age
59
Citizenship
American, Indian
Education
Osmania University (BE), University of California, Berkeley (MBA), Bowling Green State University (MS)
Shantanu Narayen grew up in Hyderabad. To pursue a high school education, he went to Hyderabad Public School in Hyderabad. Later on, he earned a bachelor’s degree in Electronics and Communication from the University College of Engineering, Osmania University in Hyderabad. After that, Shantanu went on to pursue an MBA from the Haas School of Business, University of California, Berkeley. Additionally, Shantanu also holds a Master’s degree in computer science from Bowling Green State University in Ohio.
Much like every other student, Shantanu had common dreams. Initially, he wanted to become a journalist. However, his life took him to a better place he never dreamt of. According to Shantanu, to achieve goals we often have to work hard. As per Shantanu, the qualities that emerge through these efforts are recognized by our destiny and the universe selects us for a different purpose. However, that doesn’t mean we must exempt ourselves from dreaming about what we want. It is all because of the dreams, the best come out to the world.
Shantanu was a common man who grew up in a common neighbourhood in Hyderabad. His mother was a teacher of American Literature and his father ran a Plastic Company. Before joining Adobe, he began his career with Apple.
Previously, Shantanu served as a director for Silicon Graphics in desktop and collaboration products. He is also a co-founder of the company Pictra Inc. This company deals with the concept of digital photo sharing on the web. His story should be told to every student who is working hard to taste the sweetness of success. Because confident personalities like Shantanu teach us about the right direction.
Shantanu is responsible for establishing the gold standard of digital documents and creating and leading the explosive digital experience category. Presently, he is driving the company’s strategy to unleash creativity for everyone. The company has achieved record revenue and industry recognition for its inclusive, innovative, and exceptional workplace being continuously named a Great Place to Work and a Most Admired Company by Fortune.
He joined Adobe in 1998 as the vice president of its engineering technology group. Later on, he took giant strides in the company and worked for its development and establishing Adobe as a mega-brand in the technology sector. Further, he became the COO of Adobe in 2005. Shantanu was appointed as the CEO of the company in 2007. He is also the vice-chairman of the US-India Strategic Partnership Forum. Previously, Shantanu served as the director of Dell and is a former member of the U.S. President’s Management Advisory Board.
Leadership Style of Shantanu Narayen
Shantanu follows the transformational style of leadership. This type of leading the team is designed to encourage people to be the best. Successful transformational leadership has the capacity of masking an organization and its workforce adaptive to change. It is a supportive initiative that inspires people to look at collective interests, rather than personal benefits. This is the reason why Shantanu has been a great leader.
Major Accomplishments by Shantanu Narayen
Shantanu has been the recipient of many major honors. In 2011, Shantanu was honoured with the title of Doctor for Applied Science Degree in Alma Matter at the prestigious Bowling Green State University. He was promoted to Executive VP by Adobe before becoming the CEO of the company. Shantanu was given the responsibility of managing worldwide products. Shantanu’s name was also listed in The Top Gun CEOs by Brendon Wood International. He was even selected by US President Barack Obama as one of the board members of his management Advisory.
Shantanu was awarded Global Innovator Award at Nasscom during its 7th Annual Global Leadership Awards in 2011. He was also honored with the prestigious Philanthropic Leadership Award in 2009. Well, it is no doubt that his success is an inspiration for the youths around the country. With a wide variety of resources available, one can make out the best of himself/herself from these resources.
Wise Words From Shantanu Narayen
As per Shantanu, it is important to keep one’s curiosity. He had treated all his jobs at Adobe with the same vigour and dignity. As a long-time company leader, Shantanu knew that Adobe had a strong brand with an impressive track record of developing new products, therefore, it is Shantanu’s leadership that helped Adobe to become a mega-brand in the circuit.
Shantanu says that Adobe has always invested in projects that solved difficult challenges and stood firmly in the test of time. A major part of Shantanu’s success is viewing the larger opportunity. He always saw Adobe as a mega-brand beyond Photoshop and PDFs. Hence, an aspiring entrepreneur must visualize his project with a wider view.
Shantanu Narayen, the CEO and Chairman of Adobe left the country to pursue his dreams but the man continues to make India proud with his great achievements. He joined Adobe as the vice president of its engineering technology group in 1998 and became the CEO in 2007. Under his leadership, the company has achieved great success both in terms of revenue and industry recognition.
Shantanu is also known to be a recipient of India’s civilian honour Padma Shri and has been recognised as one of the world’s leading executives by many publications.
FAQs
When was Shantanu Narayen born?
Shantanu Narayen was born on 27 May 1963.
What is Shantanu Narayen’s current title?
Currently, Shantanu Narayen is the Chairman and CEO of Adobe Inc.
What is Shantanu Narayen’s current net worth?
The net worth of Shantanu Narayen is approximately $287 Million dollars.
There may be very few people in India not familiar with the paracetamol tablet Dolo-650. The tablet was termed the ‘Magic Pill’ and was widely used to combat fever, especially, during the Covid-19 pandemic. It was nicknamed “Covid – Pandemic’s Favourite Snack” and has recorded a sale of INR 500 crore selling more than 350 crore tablets, starting from March 2020.
Micro Labs Ltd is a Bangalore-based pharmaceutical company that produces the famed drug and other generic medicines and drugs for cardiology, diabetology, anti-infectives and ophthalmology. Founded in 1973 by the late Mr G. C. Surana, Micro Labs is a privately held company now under the leadership of his sons – Mr Dilip Surana and Mr Anand Surana.
Recently, though, this 49 year old Indian MNC has been in the grips of an emerging controversy.
Dolo-650 | Everything about the ‘Magic Pill’ of the Covid-19 Pandemic
The Alleged Scam of Dolo-650
Earlier this year, the Income Tax Department accused the manufacturer of Dolo-650, Micro Labs of tax cheating and evading and put the company under income tax scrutiny.
In the latest development, The Central Board for Direct Taxes (CBDT) has levelled an accusation that the makers of Dolo-650 are guilty of distributing free gifts worth INR 1000 crores to doctors for prescribing this tablet. This was pointed out by Advocate Sanjay Parikh who appeared on behalf of the Federation of Medical and Sales Representatives Association of India. Advocate Parikh further elaborated stating that it is “an irrational dose combination” to ensure higher profits are earned by the company. He also filed a rejoinder stating that he would like to bring more facts to the knowledge of the court. The court approved his request and the judges have given him a week’s time to bring forth all the facts.
Supreme Court Bench of Judges D.Y. Chandrachud and AS Bopanna heard the plea and Justice D.Y. Chandrachud described it as a ‘severe issue’.
He said – “What you are saying is not music to my ears. This is exactly the drug that I had when I had Covid recently. This is a serious issue and we will look into it.”
The Bench of Judges posted the matter for further hearing on September 29, 2022, and asked Additional Solicitor General K.M. Nataraj to file his response in 10 days.
The company spokesperson has responded by clarifying that the amount referred to, is actually reflecting the total sales and marketing expenses incurred for its Indian business in the last five years. He went on to assert that Micro Labs maintained uninterrupted supplies during the pandemic keeping the price constant as per government regulation. This was despite the rising costs of raw materials. Doctors across the country were able to successfully manage patients suffering from covid with an economical option like Dolo-650 and sparing the public from expensive drugs.
The company’s spokesperson stated – “To think of distribution of freebies worth thousands of crores is thus highly preposterous. The medication has been prescribed by doctors due to its quality, effectiveness and speedy relief from fever and on the trust built over three decades. We are fully cooperating with the authorities to provide all the necessary information and explanation for their due consideration.”
Mr Dilip Surana, the Chairman and Managing Director at Micro Labs has also given his input during an interview. He stated that Dolo-650 was designed only after detailed discussions with doctors and realising the gap that existed in managing fever as the relief provided by Paracetamol 500 mg was not adequate. The drug was launched in 1993 as the answer to the aforementioned gap. He further went on to say that the medicine was never directly advertised to the people and hence its rise to fame during the pandemic was unexpected. However, he clarified, that Dolo 650 has always been the number one medicine prescribed in its category in India, since its inception.
Mr Surana claimed that Dolo-650 helped in the promotion of the vaccination drive by addressing public doubts through posters put up at all vaccination centres throughout the country. Doctors also prescribed the tablet for any complaints of fever or body pains as a result of the vaccine. This popularized the brand at the grassroot level.
An NGO has asked the Supreme Court to hold pharmaceutical companies accountable for giving incentives to doctors to prescribe their medicines.
In March, the Supreme Court agreed to examine a plea seeking the direction of the central government in framing a Uniform Code of Pharmaceutical Marketing Practices. This would help in curbing unethical practices of pharma companies and ensure an effective monitoring system, encourage transparency, and accountability and have severe consequences for violations.
Advocate Parikh clarified in the Supreme Court that he has been pursuing this issue with the government since 2009 and until the government frames a regulation code, he asked the court to lay down certain guidelines.
The plea filed by Advocate Aparna Bhat stated that the Indian Medical Council (Professional Conduct, Etiquette and Ethics) Regulations of 2002 must prescribe a Code of Conduct for Doctors to regulate their relationship with pharmaceutical companies and the allied health sector. It must specifically prohibit acceptance of gifts and entertainment, travel facility, hospitality, and cash or monetary grants by medical practitioners. The plea continued stating that even though termed as ‘sales promotion’, these are direct/indirect advantages that are offered to doctors in exchange for an increase in drug sales. This unethical drug promotion can adversely influence a doctor’s prescription thereby endangering human lives.
Conclusion
Micro labs is into the manufacturing and marketing of various pharmaceutical products and APIs (Active Pharmaceutical Ingredients) other than Dolo 650. These include Lubrex, Diapride, Vildapride, Arbitel, Avas, and more. However, recently, the company has been put under income tax scrutiny for tax cheating and evading. It will be compelling to watch how this allegation against Micro Labs, the maker of Dolo-650 develops as time goes by.
FAQs
What is paracetamol Dolo-650 used for?
Dolo-650 is a medicine commonly used to relieve fever, back pains, common colds, muscle aches, sore throat, and nerve pains.
Why is Dolo-650 manufacturer Micro labs in trouble?
The Income Tax Department had accused the manufacturer of Dolo-650, Micro Labs of tax cheating and evading and put the company under income tax scrutiny. The makers of Dolo-650 are charged for the accusation of distributing freebies worth INR 1000 crores to doctors for prescribing this tablet.
Who manufactures Dolo-650?
Micro Labs Limited, an Indian pharmaceutical company is the manufacturer of Dolo-650.
If you are a web designer in 2022, you probably know that this year is the year for big revolutions in web design. With the introduction of brand new trends and old trends resurfacing, designers have a lot on their plates. There is surely a lot to look forward to this year.
Web developers are working hard to make web surfing a more fulfilling and rewarding experience for users. With so many new ideas and tools coming into action, it is no secret that the internet is going to have a blast getting users hooked.
The field of web designing is one that is continuously evolving. New languages and tools developing every day, and web designers couldn’t ask for a more eventful era. Every day new trends are emerging, contributing to creating a more immersive experience for users. With typography, floating types, exciting fonts, behavioral engineering, retro resurgence and much more, 2022 is going to be an epic year for web designers.
An Example- The website is created with a complex gradient design
Complex gradients are number one on the list of web design trends for 2022. Gradients, on the other hand, aren’t a brand-new fad; they’ve gone a long way in recent years. Complex gradients are becoming one of the most popular web design trends as they are increasingly used in modern web design and are frequently used to provide depth to flat images.
It is growing in popularity, according to site designers and specialists. As a result, this web design trend must not be overlooked. With Instagram’s gradient logo, gradients made a reappearance in 2018. It has set new norms in terms of originality and engagement since then.
Instagram logo
The popularity of this approach can be attributed to the fact that it provides greater room for creativity. Second, the user is apprehensive. On the one hand, they prefer minimalism, and on the other, they tend to believe that if a designer uses only two colors, he hasn’t put much effort into the design.
2. Typographic Hero Images Are Going to Be the Norm
An Example- The website Plazzo Monti has successfully applied typography on their website
Creating the first impression that last longer on visitors is a very essential part of web designing. Using images or graphics to capture attention is quite normal. But with the new trend, images with typography graphics are making a way in the market.
The artwork from the hero image is reduced to be replaced with bold words that can actually carry the weight of an image. The effect observed with such images is almost the same as reading a compelling news headline. The same pattern can also provide a fantastic stylish display of inventive styles.
3. Behavioral Engineering
An Example- Rouserlab website can be taken as an example of behavioral web design
You began walking, keeping track of how many calories you burned, and you were pleased with the results. It encourages you to keep the habit by rewarding you with great badges and awards. That’s a case of behavioral design in action. It makes the user experience engaging enough to elicit specific actions.
You see, when you connect with an app or website like this, you take a certain action, form habits, and do things like walk, cycle, paint, meditate, and so on. That is the goal of behavioral design. It mixes psychology, design, technology, and creative methods to determine why people do what they do and how to activate them to change their behavior through experimenting.
This web design trend 2022 is essentially a set of concepts, approaches, and principles for altering behavior. It’s all about triggering user behavior using visual clues. You can look at some of the web apps that creatively implement this wonderful web design trend.
Retro is making a huge comeback in the field of web designing. It is like they say, old really is gold. With web designing becoming a full-time career choice for individuals these days, there is really no lack of fresh ideas. Yet, the trends from the early days of web designing are making an entrance once more.
Earlier, web designing was not restricted by as many rules as it is these days, hence allowing designers to be more creative with their work. However, in today’s world, there are several rules that designers must abide by. In spite of all of that the late 90’s background colors, page layouts, etc are once again taking the market by storm.
Web designing has become a lot more sophisticated in these few decades, and there is a lot more scope for creativity, however, retro trends seem to be getting back in the game once more!
The above graph shows number of active websites each year in crores as per the data published by siteefy.
5. Bold Borders
An Example- The above website is an example of a bold border trend
What can make websites appear lifelike, given that they are created on a precise grid and kept together by code? As though hovering in a restricted space, as if meticulously arranged by hand. Putting the right boundaries and borders on your webpage can make all the difference.
Realistic is what web designers are aiming for in 2022. Borders can really change the feel of a website, while it makes it more realistic in appearance, they also help keep things organized. This website trend can make your site stand out from others due to its distinctive and precise nature. You can easily divide the site into suitable sections with the help of borders and make sure it doesn’t get too clumsy.
An Example- The best example of an animated text can be taken from Vincent Saïsset website
Typography no longer has to be a bland and boring means of transferring information. With the new web design trends of 2022 hurtling along, moving type has made a big impact on designers. Imagine peppering your website with animated text. It does not only add some novelty to the same old designs but it also intrigues your readers and keeps them hooked.
Floating or moving types have become an integral part of designing norms followed by developers these days. However, incorporating moving types into your website is not as easy as it looks. You have to take care of the little details, and make sure you are not distracting your readers with too much animation.
7. Interactives That Are Fun to Use
An Example- The above-shared website can be taken as the best example of an interactive web design
2022 is the year for web developers to take the basic norms and add a little oomph to them. Take web designing to higher levels. Adding fun interactives can definitely be the way to go. In the past developers only focused the majority of their creativity on the hero sections and page transitions.
However, the trick is to make sure that users don’t just scroll but actually engage with the page by clicking, swiping, etc. Adding various kinds of interactives to your page doesn’t just make it more alluring but allows users to really connect with the site. Animations can always play a big role in achieving that.
The more you focus on your page’s creativity, the more users you are bound to attract. However, interactives must be used in suitable places only, ensuring that you are not overcrowding your website with unnecessary details.
8. Fonts That Are Engaging
An Example- Dillinger Website
Fonts are no longer a “Simple Thing” in today’s world. They have the potential to degrade the website’s performance. Visitors are influenced by fonts. As a result, it’s critical to select appropriate fonts and employ them creatively. Fonts can now be used to express one’s entire originality and imagination, thanks to modern technology and the availability of materials.
Take a look at the Dillinger website, for example. It employs a font that changes weight as the cursor goes across the text. It’s worth noting that the text shrinking effect on the black backdrop here makes the selected text more readable, which is a nice addition for usability.
Using new no-code platforms, it is now even easier to build more intricate effects than in the past. While incorporating interactivity into fonts, keep in mind that some people are easily distracted by moving characters. As a result, don’t overdo it.
9. Scrolling in Style
Scrolling on a website is the most basic kind of interaction that a user can have. But what is the fun in blank old scrolls right? 2022 is definitely the year to amp it up. The idea is to make scrolling fun and adventurous so users can’t get off your page until they have reached all the way to the bottom.
Animation can be one way to achieve that, but there are so many new ideas in store. The introduction of parallax scrolling allowed designers to break the preconception by turning scrolling from boring to interesting.
In today’s era, it has become a new norm of finding a new trend each month or within a small period of time. The trends witnessed in 2022 with respect to web designing are creating a new focus for the future. They also speak up for the upcoming stride that will continue to evolve by the means of the different trends.
The goal of the year 2022 was to elicit a momentary sense of wonder. And respecting the goal each trend witnessed was somewhere related to it. The above article contains some of the best web designing trends that one can have a look at to know what was trending in 2022.
FAQs
What’s the biggest web design trend of 2022?
Some of the biggest web design trends for 2022 are typographic hero images, retro revolution, visible borders, etc.
What are the 3 types of web design?
The 3 basic types of web designing are static, e-commerce, and dynamic.
What is the new trend in web design?
Some of the new trends in web design are experimental navigation, scrolling effect, kinetic typography, etc.
Do you need a website in 2022?
The current scenario requires almost every business to have its own website irrespective of its field. The world is becoming more digitalized and having a website of its own is an essential step in accepting the digital world. So, yes one needs to have their own website in 2022.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by F5 Inc.
Having a secure way of doing online activities in this digital age is the need of the hour. Whether you are using an application to do a transaction or running a business with a website, you need certain security.
Mobile apps, websites, and all the other programmes used online are vulnerable to security threats. They too need protection from cybercrime. The rise of different apps and online transactions through digital platforms poses a danger to our sensitive data. These include information like our bank and credit card details, health information, and personal IDs needed for transactions. For this security reason, testing has become a very crucial aspect.
The American company, F5 Inc. specialises in application security, application delivery networking (ADN), network security, and prevention of online fraud activities. The company was founded in 1996 to run security for multi-cloud management.
Uncover the success story of F5 Inc. in this article, which includes its startup story, key people, key products and services, business model, revenue growth, and the challenges faced.
F5, Inc. (formerly F5 Networks) was founded in 1996. It is a technology business based in Seattle, Washington, United States that focuses on application protection, online fraud protection, application delivery networking (ADN), and other application-related services.
F5 has further 75 locations in 43 countries. Spokane, Washington; New York; Boulder, Colorado; London, England; San Jose, California; and San Francisco, California are all notable office sites. Services like account management, worldwide services support, product development, manufacturing, software engineering, and administrative roles are handled at these offices.
Almost 48 of the Fortune 50 companies are F5’s customers for load balancing, Layer 7 application security, fraud prevention, and API administration. Some of the clients of F5 include – Microsoft, Oracle, Alaska Airlines, Tesla, and Meta.
F5 – Industry
F5 Inc. belongs to the industry of IT, internet, and software and services. With the increased digitization, the spending by cloud-computing companies has seen a great rise in the past few years. The global cloud computing market size is expected to grow from $445.3 billion in 2021 to $947.3 billion by 2026, at a CAGR of nearly 16%.
F5 Inc. was founded by Jeff Hussey in 1996. The other key people of the company are François Locoh-Donou who is the CEO and Scott Rogers who is the Executive Vice President & General Counsel.
Jeff Hussey
Jeff Hussey – Founder of F5
Jeff Hussey founded the company in 1996 and served as the CEO of the company for six years. He has a Master’s degree from the University of Washington and has acquired a Bachelor’s degree in Finance from Seattle Pacific University. Jeff has worked at many companies serving in senior roles. After a stint of six years at F5, Jeff left the company to start another one in the same domain called Tempered Networks in 2014.
François Locoh-Donou
François Locoh-Donou – CEO and President of F5
François Locoh-Donou is presently the CEO and President of F5, and a member of the Board of Directors. He has Engineering degrees from France’s École Centrale de Marseille and Télécom ParisTech, as well as an M.B.A. from Stanford Graduate School of Business. Along with the existing role, he is also the co-founder and Chairman of Cajou Espoir. It is a non-profit organisation that focuses on cashew processing. He also serves on the board of Capital One Financial Corporation (NYSE: COF).
Scot Rogers
Scot Rogers – Executive Vice President and General Counsel of F5
Scot Rogers serves as the Executive Vice-President and General Counsel at F5. A graduate of the University of Texas, Roger has played influential roles at many enterprises. Besides this, he has eight years of experience as a commercial litigator.
F5 – Startup Story
Dating back to 26 years ago, F5, Inc. was founded in 1996 as “F5 Labs” and was earlier known as “F5 Networks, Inc.” Today, the company’s public name just refers to be called “F5”.
In 1997, the F5 network introduced its first product, the BIG-IP load balancer. BIG-objective IPs were to redirect server traffic away from congested servers.
In 1999, the company went public and was listed on the NASDAQ stock exchange under the ticker FFIV.
F5 network was initiated with application delivery controller or ADC technology and has now evolved into the application layer, automation, multi-cloud, and security services. Since then, the company decided to push itself and reinvent itself in the face of ransomware, data leaks, DDoS, and other attacks on organisations of all sizes.
It was later in 2017, in a homage to the company’s origins, F5 developed a dedicated site and organisation focused on gathering global threat intelligence data, researching application risks, and publishing relevant discoveries, named “F5 Labs.” The company’s team still likes to do research and findings every week. As of July 2022, F5 reports having approximately 6,900 employees in the company.
In 2017, F5 confirmed that the company would relocate from its long-standing offices on the waterfront at Seattle Center to F5 Tower, a downtown Seattle skyscraper.
Among F5’s personnel are NGINX author Igor Sysoev, Dahl-Nygaard laureate Gilad Bracha, Google click fraud czar Shuman Ghosemajumder, and Defense.Net founder Barrett Lyon.
F5 – Name, Logo, and Tagline
F5 – Logo and Tagline
F5, Inc. was formerly known as F5 Networks. Before it was named F5 Networks, the company was initially known as ‘F5 Labs’.
The tagline of F5 reads, “Solutions for an application world”
F5 – Mission and Vision
F5 network’s vision says, “Enable your organization to better respond to and anticipate customer needs today and tomorrow.“
F5 – Business Model
F5’s business mainly revolves around a B2B model as they provide various application-related services for security reasons and products for various technologies. As mentioned they have top clients like Oracle, Alaska Airlines, Tesla, Microsoft, and Meta (Facebook).
Let’s take a brief look at the products and services offered by F5 Inc.:
BIG-IP
BIG-IP is a product line that includes hardware, modularized software, and virtualized solutions that run the F5 TMOS operating system. F5’s BIG-IP features the following products-
BIG-IP Access Policy Manager
BIG-IP Advanced Firewall Manager
BIG-IP Carrier-Grade NAT (CGNAT)
BIG-IP Advanced WAF
BIG-IP Local Traffic Manager
BIG-IP Next Service Proxy for Kubernetes
BIG-IP SSL Orchestrator
BIG-IP Deployment
F5 network offers products to deploy clients’ applications either on-premises or on the cloud. These includes:
BIG-IP VIPRION Chassis and Blades
BIG-IP iSeries Appliances
Cloud-Native Network Functions
VELOS Chassis and Blades
BIG-IQ Centralised Management
F5 network has designed the BIG-IQ centralised management to manage all the BIG-IP devices and services in one unified platform.
DDoS Hybrid Defender
F5 network’s DDoS protection is for the network and at the application layer that is flexible and scalable for clients’ hybrid deployment.
Distributed Cloud Services
F5 network offers distributed cloud services to simplify deployment and other operations for its customers’ apps. These include:
DDoS Protection
Bot Defense
API Security
Aggregator Management
Client-Side Defense
Multi-Cloud Transit
Load Balancer & K8 Gateway
Account Protection
Cloud-based Platform Overview
NGINX
F5 network offers high-performance app delivery, known as NGINX that modernises apps at scale, from monoliths to microservices, and also supports regular software updates. There are hourly and annual subscription choices available, as well as various degrees of support, professional services, and training.
Various F5 network NGINX services are:
NGINX Controller
NGINX Open Source
NGINX App Protect
NGINX Ingress Controller
NGINX Controller
NGINX Service Mesh
NGINX Amplify
Silverline Managed Services
F5 network offers other security services for apps like:
The company reported a revenue of $2.6 billion in the year 2021 which is nearly 11% year-over-year growth. The operating income was $394 million in the same year. It has announced a 4% revenue growth in the fiscal 2022 third quarter, including a 38% growth in software revenue.
Hardware solutions such as the BIG-IP iSeries systems continue to account for the majority of F5’s revenue. Furthermore, the business has begun to provide more modules on its proprietary operating system, TMOS (Traffic Management Operating System.) Other services from which F5 Inc. generates revenue by providing various organizations that access the running of BIG-IP, and deploy load balancing, Layer 7 application firewalls, single sign-on (for Azure AD, Active Directory, LDAP, and Okta), as well as enterprise-level VPNs.
F5 Inc. has partnered with some of the major companies to provide its cloud-computing services. It has teamed up with the world’s leading technology companies like:
F5 has raised two funding rounds and the latest funding was raised with an undisclosed amount on Nov 8, 2020, from a Post-IPO Equity round. The money raised by the F5 network for its IPO in 1999 was $30 million.
F5 is backed by two investors. The most recent investors are Elliott Management and Ridge Ventures.
F5 network has bought around 12 companies. Threat Stack was their most recent purchase, which occurred on September 20, 2021. F5 network purchased Threat Stack for $68 million.
Date
Acquiree Name
Amount
September 20, 2021
Threat Stack
$68 million
January 7, 2021
Volterra
$500 million
December 19, 2019
Shape Security
$1 billion
Mar 11, 2019
NGINX
$670 million
May 22, 2014
Defense.Net
–
September 17, 2013
Versafe
$92 million
February 11, 2013
LineRate Systems
–
February 20, 2012
Traffix Systems
$135 million
August 15, 2011
Crescendo Networks
–
August 6, 2007
Acopia Networks
$210 million
September 6, 2005
Swan Labs
$43 million
June 2, 2004
MagniFire Websystems
$ 29 million
F5 – Online and Social Media Presence
The company seems to have a very well-established online and social media presence on almost every major platform.
The company has posted a lot of videos regarding its services and products to give a brief idea of how it works. Along with posting various videos regarding its services, F5 has also posted about its customer success stories. The company indulged in an advertisement with the message that F5 is a strong force for making cybersecurity personal.
F5 Advertisement – A Force For Making Cybersecurity Personal #AForceFor
F5 – Awards and Achievements
Awards won by F5 Inc. are:
F5 has won the 2020 Puget Sound Business Journal’s Top Corporate Philanthropists.
India’s 50 Great Mid-size Workplaces — Great Place to Work®
F5 has won the 2020 Governor’s Volunteer Service Award.
F5 was named in the Top 10 in the Tech Hardware sector for America’s Most Just Companies (2020).
F5 won NetworkWorld Asia Information Management Awards 2018.
F5 won SC Awards 2018 — Best Web Application Solution.
F5 captured the award for BIG-IP Application Security Manager and Silverline Web Application Firewall service.
F5 – Competitors
The top competitors of F5 Inc. are:
Citrix
A10 Networks
Akamai
Barracuda
Imperva
Fortinet
Cloudflare
F5 – Future Plans
As F5 has reported a 4% revenue growthin the fiscal 2022 third quarter, it seems to have further solid plans for the upcoming fourth quarter.
CEO and President, François Locoh-Donou says, “With our intense business transformation efforts over the last five years, we have built a stronger and more resilient F5, as evidenced by our 72% revenue from recurring sources in the quarter. As a result, we have increased confidence in our ability to deliver sustained revenue and earnings growth.”
F5 network is expecting to deliver revenue in the range of $680 million to $700 million, with non-GAAP earnings in the range of $2.45 to $2.57 per diluted share in the coming fourth quarter of the fiscal year 2022.
FAQs
Is F5 a global company?
F5 is a global company entrusted by the world’s largest and most successful businesses, consumer brands, and government organizations for the delivery and security of their applications.
Who founded F5?
Jeff Hussey founded F5 Inc. (formerly known as F5 Networks) in the year 1996.
When did F5 go public?
F5 Inc. went public and was listed on the NASDAQ stock exchange in the year 1999. The company sold 2.86 million shares at $10 per share.
What are F5 Big-IP devices?
F5’s BIG-IP comprises various software and hardware products that are designedaround application performance, automation, access control, and security solutions.
Where is F5 Inc. headquarters?
F5 Inc. has its headquarters in Seattle, Washington, United States.
Purchasing and starting your own business is a big undertaking. With creative ideas and a pumping workforce, it is necessary to have the legal formalities taken care of to give your business a smooth start! Let us have a detailed look at the legal formalities required in order to start a business.
Starting a business comes with great responsibilities to work on. The first step in starting a business is to get its paperwork done. It is not a myth that establishing a startup requires a number of legal procedures to be done in order to have a legal business. Most entrepreneurs might feel stressed at this stage. Hence, we have simplified the legal procedures one needs to follow while starting a business.
Every business has its own set of rules and requirements. Depending on your domain, it is the duty of the owner to research all the legal requirements and take care of them beforehand. You can take the help of legal attorneys, but it is necessary to figure these things out from the day of formation.
Form a Limited Liability Company (LLC) Or a Corporation
The first step in getting started with the real procedures for the startup is to make a decision for choosing a suitable business structure. Basically, there are two options to consider from. Limited Liability Company and corporation are the two choices made available at the start with both the options carrying their own pros and cons.
The best option in selecting LLC is that it will save you from your personal liability attack. For a simple consideration, when a startup fails and a company goes bankrupt, the personal assets of the person like a car and home will not be affected by it in LLC. One can also file their business revenue as a part of income tax. But they will also be required to pay self-employment tax on the contrary.
The corporation is also termed a C corporation. It is an expensive method to go for and is also quite hectic to create it. Basically, a corporation is a legal entity apart from its owner or owners. And if to be considered, they offer the best personal liability protection.
Agreement for the Shareholders
A Shareholder’s Agreement must be in place whenever your firm is ready to move forward with private financing from angel investors or from venture capital firms, as the case may be.
It is one of the most important startup documents since it determines the shareholders’ rights and obligations, as well as their ability to execute such rights. These contracts are extremely important since they outline the connection between a firm’s shareholders and are crucial if a co-founder decides to leave the company.
A set of rules is always the right place to start if you are starting out a company of your own. Bylaws are these sets of regulations that ensure the smooth functioning of a business both internally and externally. These laws are not only imposed on employees but they also provide a voice for their thoughts and opinions.
These rules are made very meticulously, keeping in mind the requirements of employees at all levels of the corporation. They also specify the election rights to decide the leadership of a company, along with other aspects that can severely impact the internal workings of an organization.
Assignment of Intellectual Property Agreements
Intellectual Property (IP) is one of the most important aspects of any company, big or small. Companies can go to great lengths in order to protect their intellectual property. Failing to do so can lead to losing the value of a startup by the infringement.
There are two different forms of Intellectual Property agreements to consider. A shareholder and a startup enter into a technological assignment agreement. The shareholder assigns his or her intellectual property to the corporation in this case. These are the intellectual properties of individuals prior to the company’s creation.
When a company’s employees create an innovative product or service, invention assignment agreements are important. Invention Assignment Agreements ensure that, in this scenario, the corporation owns all rights to the IP portfolio.
An Intellectual Property Assignment Agreement could be one of the most important legal contracts for your startup, determining whether or not you can get the funding you need to expand. This is especially true for technology companies, as investors and venture capital organizations frequently assess the worth of your IP portfolio.
Trademark
Trademark
Trademarks can be a word, phrases,s or symbols. The prime purpose of a trademark is to differentiate between similar products of different companies. Trademarks are associated with the protection of the company’s intellectual property.
Trademarks are the best method to differentiate and identify your company from others. Registering for a Trademark is equally important as gaining a business license. One can get their trademark registration done by visiting the trademark registration portal or physically visiting the trademark registry offices.
Trademark strengthens and protects the business from any illegal competition or imitation. The disadvantage of the trademark registration process is that when you register a trademark with the trademark office, everyone with a similar-sounding name is notified and given the opportunity to object, so you may find that people who would not have been interested in what you’re doing before suddenly become interested in a specific trademark.
A Non Disclosure Agreement is a necessity for every business deal. It is the first thing you should take care of before finalizing any deals. This NDA not only safeguards your interests but also makes sure that the other party’s privacy is also under safety. These documents are necessary to make sure that no kind of breach can occur midway and that the interests of either party remain unharmed.
Before you go ahead and start discussing the terms and conditions of a deal with any third party, it is always advised to go for an NDA first. All terms of the deal should be stated clearly in this document. In case of any breach or dispute, there should be clear terms for termination present, that would benefit both parties to close the deal without any hassle.
Articles of Incorporation/Association
Before establishing a business it is necessary to have a clear business plan. Most amateur entrepreneurs make similar mistakes that cost them heavily later on. Going for sole ownership of a company is not as easy as it sounds. There are huge tax bills that ultimately fall upon the shoulders of the sole proprietor.
Most businesses that run successfully over long periods tend to have multiple shareholders. Not filing tax returns on time, with the Revenue Service can also result in the owner losing his personal property. It is smart to try to avoid heavy taxes and bills during the starting period of any business.
This can severely hinder growth. However, having a number of shareholders, all responsible for the big decisions can help a company run smoothly without financial troubles.
Get the Required Permits and Licenses
Small Business Administration Website
Another mandatory step in legal formality is to get a business license and permits from the federal and state government in order to start a startup. One can prefer to look for a different license with respect to their field of work and the area of development.
A common list of federal business licenses is given by the Small business administration. One needs to apply for an applicable business license and permit for their desired area. Registering the company with a business license is legal evidence of being approved by the local government. One needs to pay a certain amount of fees in order to avail of their business license.
This amount can vary for different businesses and can also be affected by the place of the startup. All these factors are majorly decided at the state government level.
The above graph shows major challenges faced by entrepreneurs while establishing a startup
Insurance Can Help You Protect Your Company
When the personal liability protections provided by your specific business structure are insufficient, business insurance can help. Not only can business insurance cover your personal assets, but it can also safeguard your company’s assets.
The prime two types of insurance mandated by law are unemployment and disability insurance. It’s also a smart idea to get business insurance to safeguard your company from other threats. The following are some examples of common company insurance policies:
a)General liability insurance: It safeguards your company from a variety of financial losses, such as property damage, injury, medical concerns, and litigation settlements or judgments.
b)Insurance for product liability: If your company sells products, this insurance covers you in the event that one of them is defective and causes a consumer injury.
c) Commercial property insurance: It protects your firm from property loss or damage caused by natural disasters, accidents, or vandalism.
Agreement of the Founders
In the case of startups with numerous founders or founding parties, signing an agreement that describes the working coordination of all parties and forms outlines to establish limits becomes important. It’s to keep any future confrontations at bay. To avoid any disagreements among the startup’s founding members, all co-founders should sign a complete operating agreement.
These startup legal formalities are not a guarantee of success in your business. Nonetheless, proof of your commitment to bringing your startup to new heights with good planning.
For a brighter future as a corporation, it is critical to put some effort into getting the legal formalities out of the way. The above article provides deep insight into the procedures one needs to perform legally in order to get their startup ready for a long race.
FAQs
Does a startup need to be registered?
Yes, registering a startup is one of the most essential steps to be followed while starting s startup. A startup needs to be registered with the respective government body and should also have a legally recognizable status.
What are the legal documents needed before starting a startup in India?
There is a number of legal documents that are needed before starting a startup in India. Some of them are Trademark registration, a nondisclosure agreement, shareholders agreement, founders agreement, and some other documents as per need.
What is the founder’s agreement?
A founders agreement is an agreement done between all the founders of the startup. It is done in order to have clarity of ownership, tasks, disputes, terms to apply in certain situations, etc.
As an expression goes, “Worry is just imagination used in an unproductive way.” That simply means that if you don’t plan a schedule, then you either end up in trouble or fail to achieve the plan, which automatically results in an unproductive act. This is why planning and organizing are so important to you, especially if you have many things to get done at once.
As an example, if you have to prepare a document for your boss and attend a meeting simultaneously, or you forget to prepare an important presentation for the meeting that you’re going to attend right after, If that’s the case, what will you do? You’ll flunk either if you don’t stick to a schedule. It is a no-brainer that if you have a daily planner calendar that reminds you about your tasks and helps you handle other management duties, you will be an ace at work.
Workona is a work management platform, that could organize all the activities (docs, tasks, files, links projects) into your browsers, providing you with flexible workspaces to complete bigger projects. This platform collaborates with cloud-based apps and makes team collaboration easy in executing your project. Workona is known for organizing intricate tasks for a project in a single place without moving to different tabs, making a hassle-free workspace.
Features
Document Management
Tab Manager
Availability of better workspace templates
Project Planning
Real-time collaboration
Price:
Basic: 4.95 USD per month Pro: 8.95 USD per month Team: 8 USD per user monthly
Habitica Pomodoro gatekeeper
Used For
Time-Wasting Navigation
Founder
Francesco Cirillo
Founded in
2021
Habitica Pomodore Gatekeeper For Time-Wasting Navigation
One of the best chrome extensions is Habitica Pomodore gatekeeper, which plugs into Habitica and turns your time-wasting navigation into rewards, by means of this, you could stop walling time and start developing new habits to run errands that are worthy of. There are two types of Pomodoro extensive- Site Blocker (which limits you from visiting websites that you decide on) and Pomodoro timer, which helps stay focused.
It would be easy if you can strip clutters from a website and then view it in ‘read mode’. Yes, there is a chrome extension, that helps to read any content in reader view, by pressing the page-action button and thereby personalizing the content (changing color, text, font size, or width of the reader view) on the left pane of your screen.
Features
Read in fullscreen mode
Prevent Advertisements
Can save in HTML format
Edit, highlight, and resize the font of the content
Display publish date
Easy to do in moving to the next or previous pages to read
Price:
Free
Evernote
Used For
Note Taking App
Founder
Stepan Pachikov
Founded in
2011
Evernote For Taking Notes
Even if you’ve been listening from the start, you may find it challenging to respond to the presenter’s question in a meeting. It will be easy to acknowledge any concept if you have the habit of taking notes. That’s why Evernote Corporation developed a note-taking task management software for those to create & organize digital notes which could automatically sync across all their devices. Evernote keeps your workplace productivity high, by turning your to-do list into ‘done’.
Features
Sync and Organize
Web Clipper
Google Calendar
Paperless
Document scanning
Templates
Complete the tasks
Price:
Basic: Free version with limited features available Personal: 249 INR per month Professional: 319 INR per month
Video conferences are used in corporate meetings to discuss anything important, but since we can’t remember everything, confusion pops up after the meeting, right? Instead of long emails, try out Awesome screenshot, which does the job for you. By recording the screen, the software allows you to share your work with non-real-time video so that you can use it later.
Features
Beautify & share your screenshots
Record an online conference
Edit a record, polish screenshots, and tag names in the comment section.
Add blur or image to a video and enhance in full size
Reply with an emoji
Customize Avatar
Annotate a screenshot
Price:
Starter: Free for a month Basic: 5 USD per month Professional: 6 USD per month
Tab Suspender
Used For
Saving Memory
Size
84.6 KB
Founded in
2017
Tab Suspender Foe Saving Device Memory
If you don’t close various tabs on your devices, then leads to low battery and high heat generation. Tab Suspender is an extension that automatically suspends, parks, or hibernates inactive tabs on your browser which helps in saving up to 80% of device memory, saving battery life, and reducing heat.
Features
Unload tabs after a specified time period
Support white-listing for domains
Do not hibernate pinned tabs or tabs that are prying sound
Do not hibernate when offline
Price:
The software is free for download and charges 3.20 USD per additional feature.
Another Pomodore diverge extension- Marinara, a Pomodoro-style timer, you can tailor to fit your productivity needs. You can set time segments that fit your workflow, reduce distractions and share your productivity timer with teammates to complete tasks more efficiently.
Features
Short & long breaks
Toolbar icon with countdown timer
Track Pomodoro history & stats
Configurable long break intervals
Configurable timer durations
Desktop & tab notifications
Audio notifications with over 20 sounds
Ticking timer sounds
Scheduled automatic timers
Open source software
Price:
Free
Clickup
Used For
Project Management Platform
Size
Zeb Evans
Founded in
2017
Clickup For Saving Time
Clickup is one of the best chrome extensions, which does everything for you to boost your productivity at the workplace. This software was designed to give at least 20% of your time to other things, by doing all the chores for you, which you had been doing for a whole day.
Features
Customize to-do Tasks
Nest subtasks and checklists
Automate routine work
Integrations
Notepad
Gantt Chart
Mind Maps
Time Tracking
Kanban Board
Sprints
Price:
Personal use: Free for a period Small Teams: 5 USD per month Mid-sized teams: 12 USD per month Multiple teams (Business): 19 USD per month
Here’s another gamified Pomodoro timer that protects you from visiting blocked websites. When the workday’s allotted time is up, a sound signaling a break can be customized. Additionally, a website will be restricted once a certain amount of time has passed ( which you have set a time limit).
Features
Work/Break timer
Block websites
Point-based reward system
Autoblock websites
Hard mode
Insights
Notifications
Break mode (websites are unblocked during a Pomodoro break)
RescueTime For Tracking Time Spent On Useful Websites
The websites you visit on the internet are tracked by RescueTime. The program will provide you with a productivity score at the end of the day or the week, helping company owners know how much time they spend on useful websites as opposed to those annoying non-useful ones.
Features
Time Tracking
Ease of Completing Timesheets
Tracking Time to Project/TaskBillable Time Rate Management
Mobile Time Tracking
Time Tracking
Administration
Workflow
Platform
ReportingAPIs / Integration
Performance and Reliability
Mobile User Support
Price:
The basic version is free but a premium version costs $9 per month.
Loom
Used For
Record your screen
Founder
Joe Thomas
Founded in
2016
Loom For Video Recording and Sharing With The Team
Video may be recorded and shared with the team quickly and easily using Loom. For quick-moving, virtual teams seeking a personal connection, it’s the ideal online browser add-on.
Features
Screen, camera, microphone, and internal audio recording
Save videos to the cloud automatically and share them immediately with a link.
Receive alerts
Emoji reactions and time-based comments.
controls over security and access
to record videos to your camera roll.
Price:
It’s Free up to 50 Creators Lite, videos/person, and 5 mins/video.
uBlock Origin Protecting Users From Invasion Of Their Privacy
Protecting users from the rising internet invasion of their privacy is uBlock Origins’ main objective. It is a content filtering add-on for multiple web browsers that is open-source, free, and ad-blocking. One of the most sophisticated and functional tools for enhancing your online privacy with no impact on your CPU or memory use is uBlock Origin.
Features
Features Vote on or suggest new features
Block Ads
Lightweight
Configurable
Customizable
Firefox Extension
Privacy focused
Element blocker
Custom filters
Google Chrome Extension
Privacy Protection
Website whitelisting
Disable JavaScript
Browser extension
3rd-party filters
Security-focused
Unblock Netflix
Low CPU usage
Microsoft Edge extension
Price:
Since uBlock Origin is completely free and open-source software, any developer is free to do whatever they want with the code.
With Forest, you may avoid using distracting websites like social media during work or study periods by combining the Pomodoro Technique with a website blocker. You can view websites on your Blocklist while logged in using the Allowlist mode. In addition to the Chrome extension, Forest has a mobile app. You may check your stats, see a virtual forest of trees that have successfully grown from previous work sessions, and unlock new tree species to plant on the app.
Features
A Pomodoro timer
gamified website blocker.
Price:
Forest is free for Chrome and Android. The iOS device users must pay $1.99.
Save to Pocket
Used For
Capture Articles, videos, and anything else you find on the web
Founder
Nate Weiner
Founded in
2007
Save to Pocket For Saving Your Interests
Due to its strong recommendation engine, user-friendly UI, and community features, Save to Pocket has surpassed Instapaper as the finest online clipper site at the time. It’s a fantastic web clipper inbox for reference, allowing you plenty of time to browse when you go back.
Features
Save unlimited articles, videos, and other web pages
Sync your articles automatically
Add Tags
Save from your browsers including Firefox, Chrome, Safari, Edge, and more
Text-to-speech
Customer support team
No sponsored content
Full-Text Search
Access unlimited text highlighting
Permanent Library
Custom reading layouts and 8 additional font options
Price:
$5/month or $45/year for unlimited highlights, permanent article backups, and no advertisements, as well as complete article and tag search.
Goal-setting and habit tracking are both included in this free Chrome addon. To develop better habits, you can keep a close eye on and check your everyday activities. When you open your screen to start your day’s work, the Chrome extension icon is right there, making it the ideal location for your goals. In order to focus on your work, the web application also filters your most distracting websites.
Features
Every day, a new motivational image, quote, and mantra.
Although Noisli is mostly a website with different sounds, its Chrome extensions offer a more practical approach to accessing the key functions. The plugin has a drop-down menu with sections labeled Productivity, Random, and Relax that contain tailored playlists of blended ambient sounds. Clicking on the category will modify the sound mix. Additionally, Noisli enables you to save your preferred mixes and access them at a later time. Any time period can be selected for the Pomodoro timer.
Features
A Pomodoro timer
Ambient sound player.
Price:
Free
Right Inbox
Used For
Gmail extension
Founder
Sujan Patel
Founded in
2018
Right Inbox For Gmail
With the productivity add-on for Gmail, you can change how you use your Gmail account under the Right Inbox. Right Inbox users can spend more time on essential things and less time on email.
Features
Recurring Emails
Email Tracking
Email Sequences
Mail Merge
Price:
Right Inbox is cost-free to use up to a set of monthly feature caps. Plans with limitless features can be purchased for $5.95 per month.
The to-do list and Pomodoro timer are combined in Focus To-Do. You can plan tasks, make projects, send reminders, assign tasks based on priority, add subtasks, and monitor your progress with in-depth pie charts and graphs. Simply set a programmable Pomodoro timer for the task at hand, then get to work. After finishing it, tick it off. You can always access your to-do list from any device with Focus To-mobile Do’s and Mac apps since they sync with the extension.
Features
A Pomodoro timer
to-do list combo.
Price:
Free
Grammarly
Used For
Writing App
Founder
Alex Shevchenko, Max Lytvyn, and Dmytro Lider
Founded in
2009
Grammarly For Mistake Free Texts
Almost all high school students in the digital period have at some point either heard of or utilized Grammarly. The most comprehensive grammatical knowledge, spell-checking tools, advanced suggestions, clarity improvements, and style modifications are all included in this piece of software. On most websites with text fields, the plugin automatically runs as soon as you start typing and follows you around.
Features
In the Plagiarism feature of Grammarly, your content is compared to tens of thousands of other online pages to identify any instances of plagiarism.
It’s a useful feature for journalists, writers, and obviously students.
Price:
Grammarly is free for individual users, however, if you want an invoice to pay for Grammarly Business for 10 or more members on an annual basis, you can do that.
The same technology that’s causing the commotion is also providing you with the means and tools to mute it and fully concentrate on the task that matters. Since there are simply too many options to pick from, the top 20 Chrome extensions have been compiled. These 20 Chrome extensions come with many that are cost-free to use.
The most coveted conclave for the world of Human Resources- HR Summit, organised by Symbiosis Institute of Operations Management, Nashik is back again with all its vigour, this time bigger and better.
HR Summit is an endeavour to culminate eminent leaders including CEOs, CHROs, VPs, Directors and other HR professionals across the industries to speak about visionary ideas, best practices, cutting-edge insights and industry experiences in the field of human resources.
The three-day event, scheduled to be held at Nashik and Delhi is all set to kick off on the 26th of August, 2022.
Here’s all you need to know about the event:
When & Where:
The event has been phased out into two parts, the first one being in the campus itself at Nashik on 26th and 27th of August and the next one at Delhi, on the 3rd of September.
Why Should You Join:
Network and Interact:
Since its inception, HR Summit has been witnessing many eminent personalities from the business world sharing their wealth of knowledge in the conclave. Even though the event had been taken online since the last two years courtesy of the pandemic, this time it is back in all its glory and you get to attend it physically at the campus in Nashik or at Delhi.
Nonetheless, it is a great forum for aspiring and budding management professionals and human resources enthusiasts to interact and listen to the leaders solving real world problems and the changing dynamics of the HR function.
Themes and Sub-themes:
HR Summit comes with its great legacy of revolutionary and carefully curated themes striving to address issues and deliberating on the ever-changing dynamics of the human resources function.
This year, the focus is on the evolution and the reforms brought about by technology in the HR praxes and thus the theme HR 5.0-The Big Rethink. It is accompanied by two sub themes- HR Metamorphosis and HR: The catalyst to IPOs which speak about the paradigm shift in practices such as hiring and onboarding, hybrid work culture, inclusivity, diversification and productivity in workplaces etc.
Dynamic Speakers:
HR Summit boasts of having hosted some of the esteemed business icons in the past and this year is no different. Several visionaries and industry experts are expected to discuss and deliver on various sub-domains of the theme throughout the three days in the efficiently curated panel discussions and keynote speeches.
Among them, Lt. Colonel Alok Kumar Das, Chief People’s Officer at Brinton Pharmaceuticals, Dr. Amjad Khan, Vice President at Cornerstone International Group, Mr. Bimal Vyas, Head – HR Strategy & HRBP at Astral Adhesives, Mr. Anil Santhapuri, Director – Skill Solutions, Global Talent Management at FIS, Mr. Akshaya Kashyap, Sr VP, HR at Future Generali Insurance, Ms. Priyanka Thakur, Lead, Talent Management & Development for India at AstraZeneca, and Mr. Sumit Bhatia, HR Leader, Global Service Delivery at Mercer are a notable few.
Here are a few glimpses of the event from the past
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Mandiant.
It was around the 1990s when hacking cases were growing immensely strong, posing a potential threat to all the assets stored in cyberspace.
In a hyped-up world where everyone is too invested in virtual reality and the internet, shielding cyberspace is something that we don’t usually pay attention to.
The presence of a solid approach regarding cybersecurity is highly crucial for your organization’s data protection. It can deal with hacking cases and help monitor the entire operation to keep away from any kind of red flags. Early detection of cyberattacks can help save costs and time from further damage. For such prevention, cybersecurity firms exist to provide a defence mechanism against cybercrimes. A cybersecurity consultancy is a key business service that may significantly improve an organization’s data security.
If there’s any organisation that offers the best regular monitoring and reviewing operations related to cyber security, then it is Mandiant. The company was founded in 2004 by Kevin Mandia, Mandiant is an American cybersecurity firm that deals in providing dedicated strategies for the cybersecurity of private enterprises, government agencies, and law companies.
Let’s find out more about how Mandiant works, its founders and team, acquisitions, business and revenue model, the number of employees working, and a lot more other relevant information.
Mandiant was established in 2004 by a former the United States Air Force officer, Kevin Mandia. The company was previously known as Red Cliff Consulting.
As a publicly traded company, Mandiant is a cybersecurity firm and is regarded as the industry leader in threat intelligence and knowledge earned on the frontlines of cyber security by corporations, governments, and law enforcement organisations worldwide.
The company has a strong approach to offering a more assured approach by expanding its knowledge and intelligence through the Mandiant Advantage SaaS platform to offer current intelligence, automation of alarm investigation and prioritisation, and certification of security control solutions from many vendors. It has created the most complete collection of threat activity accessible by integrating machine, breach, adversary, and operational intelligence.
Mandiant boasts of having a comprehensive insight into global attacker behaviour, which is built into the Mandiant Intel Grid. Mandiant’s products are endorsed to deliver its clients an impressive cybersecurity experience. With a presence in almost 26 countries, Mandiant is located with experts like threat researchers, reverse engineers, intelligence analysts, and incident responders.
Mandiant’s team consists of specialists who have said to work on the front lines of cybersecurity throughout the world by mapping the threat environment, addressing the most complicated breaches, and actively working with the most recent technology stacks to suit the demands of any customer. As of 2021, Mandiant has a total of 1,000–2,000 people employed in its company.
It was recorded that during the pandemic in 2020, cybercrime rose to nearly 600%. There were many cybercrime and scams related to Covid-19, that people fell trapped into. Ever since lockdowns, there have been vulnerabilities in cyberspace. This only suggests that it is imperative to have a managed security provider for organisations and governments.
As a result, to prevent cyber attacks and crimes, there will be a growth of many cybersecurity companies and security operations centre services. It is expected to grow to $1.6 billion by 2025 from $471 million in 2020 at a CAGR of 28.6%.
Mandiant – Founders
Mandiant was founded by Kevin Mandia in 2004.
Kevin Mandia
Kevin Mandia – Founder and CEO of Mandiant
Kevin Mandia, the founder of Mandiant, also serves as the company’s Chief Executive Officer (CEO) and Board of Directors. As a former the United States Air force officer, Kevin served as a computer security officer in the 7th Communications Group at the Pentagon and was also a special agent in the Air Force Office of Special Investigations (AFOSI). From an educational perspective, he graduated from Lafayette College with a B.S. in Computer Science and has also earned an M.S. in Forensic Science from George Washington University.
Kevin Mandiant has 20+ years of experience in information security and has been on the front lines assisting corporations in responding to computer security incidents. Prior to Mandiant, Kevin played important roles in various companies related to information security.
Mandiant – Startup Story
Mandiant was initially founded as Red Cliff Consulting in 2004 and rebranded to Mandiant in 2006. It took some years for Mandiant to establish itself in the information security world. It was after receiving funds from Kleiner Perkins Caufield & Byers, an American Venture Capital firm, that Mandiant expanded its operations and started providing cybersecurity consultancy to leading global enterprises, governments, and Fortune 100 companies.
After making a name in the cybersecurity market, Mandiant released a report in 2013. The report was a study detailing evidence of People’s Liberation Army cyber assaults against at least 141 organisations in the United States and other developing nations dating back to 2006, carried out by Pudong-based PLA Unit 61398. During the same year, the company was acquired by FireEye (now Trellix) for $1 billion.
In 2020, Mandiant launched a program called ‘Mandiant Advantage’. It is a subscription-based SaaS tool meant to supplement and automate security response teams by combining Mandiant threat information and data from cyber incident response engagements.
Recently, Mandiant was acquired by Google for $5.4 billion to boost its in-house cyber security resources by integrating into the Google cloud division.
When the company was founded, it was named Red Cliff Consulting until rebranding to its current name, Mandiant in 2006.
The tagline of Mandiant goes like this, “Your Cybersecurity Advantage”
Mandiant – Mission and Vision
The mission of Mandiant states, “We are on a relentless mission to make every organization secure from cyber threats and confident in their readiness.”
Mandiant – Business Model
Mandiant operates on a B2B model by providing various services related to cyberattacks along with security consulting to many organisations and enterprises alike.
Mandiant services include a lot of cyber threat intelligence solutions, strategies, and other platforms for international businesses and government organisations to deal with cybercrimes and reduce threats of hacking.
Some of the major areas of services provided by Mandiant are:
Incident Response Service
Cyber Security Due Diligence
Cyber Security Program Assessment
Cyber Defense Operations
Microsoft Office 365 Assessment
Compromise Assessment
Cyber Defense Assessment
Incident Response Retainer
Cyber Defense Center Development
Applied Intelligence
Cyber Threat Profile
Cloud Architecture Assessment: Azure, AWS, GCP
Penetration Testing for Mobile
Penetration Testing for Wireless
The above-listed points are some of the services by Mandiant that help establish and implement critical security changes needed to have a proper and effective cyber defence system.
In addition to these services, Mandiant also offers a multi-vendor XDR platform that provides security teams of all sizes with experience and frontline intelligence. The platform is an automatic format that is powered through the automation of Mandiant expertise that automatically controls its customer’s existing security investments. The Mandiant Advantage Platform also offers flexible delivery of engagement as per customers’ requirements. The platform also constantly monitors its customers’ attack surface and internal controls to drive prioritisation and focus on any kind of threats.
Mandiant – Revenue Model
Mandiant Sales/Revenue from 2017 to 2021
As per Mandiant financial reports, the company derives a majority of its revenue by offering threat intelligence and consulting services. Besides this, the company’s recurring revenue continues to grow at a CAGR of 24%. Mandiant reported revenue of 483.4 million USD for the year 2021 which was nearly a 20% increase from the 399.7 million, revenue recorded in 2020.
Mandiant – Funding and Investors
Mandiant has received $70 million in investment across two waves. Their most recent funding came from a Private Equity round on July 22, 2011.
Date
Funding Round
Funding Raised
July 22, 2011
Private Equity Round
$70 million
October 19, 2006
SERIES A
—
Mandiant is backed by four investors. The most recent investors are JP Morgan Chase and One Equity Partners. The other two investors are Kleiner Perkins and Jim Ellsworth.
Mandiant has acquired two companies. On August 10, 2021, the company made its most recent purchase of Intrigue Corporation. The other company acquired by Mandiant is Unveillance on September 10, 2012. The amount for both acquisitions is undisclosed.
Mandiant – Challenges Faced
In the digital era, cyber crimes go hand in hand, which is why the need for a cyber security strategy is essential. As Mandiant focuses on providing security services to combat threats, one of the biggest challenges for them is to stay updated regarding the various types of cybersecurity challenges like phishing attacks, cloud attacks, cryptocurrency and blockchain-related attacks, etc. The company needs to push its business against data security dangers.
Mandiant – Social Media Presence
Mandiant has its presence on almost all major social media channels.
You can follow the company on Facebook, Twitter, LinkedIn, and YouTube.
Mandiant has posted various videos on cyber crimes happening around the world on its YouTube channel. Through its videos, the company highlights the consequences of a cyber attack and how important it is to stay updated and have a strong security strategy.
Not so long, the company launched a campaign #StayRelentless against cyber threats with Mandiant. The video speaks about how Mandiant has the potential to fight the continuous battle against cyber criminalities in the modern day of digitisation.
Mandiant Advertisement – StayRelentless Against Cyber Threats
Mandiant – Awards and Achievements
Below is the list of awards and achievements won by Mandiant:
Mandiant has won SC Europe Awards – 2022.
Mandiant won the Top Work Places – in 2022.
Mandiant received Global INFOSEC Awards Winner – Cyber Defense Magazine – 2022.
Mandiant has won CRN Security 100 – 2022.
Mandiant was the winner of the Cyber Security Excellence Awards – 2022.
The company plans to continue building Mandiant Advantage strategy, automating human tasks and applying machine learning to create a super analyst. Also, the acquisition of Mandiant by Google is proof that the company’s business is only going to upscale. Google’s decision to acquire Mandiant for boosting its cloud security business can only tell that Mandiant’s revenue growth can touch an unexpected height. With this only time can tell what exactly the future holds for Mandiant.
FAQs
What is Mandiant used for?
Mandiant is known for providing threat insights to public and private organizations in the early stage through its unmatched intelligence and response expertise.
Is Mandiant a US company?
Yes, Mandiant is a US-based company with its headquarters situated in Reston, Virginia, USA.
Does Google own Mandiant?
Google acquired Mandiant on 8th March 2022 for $5.4 billion. Google acquired the company with the aim to establish a stronghold in the cloud market.
Does FireEye own Mandiant?
No, FireEye does not own Mandiant anymore as last year in 2021, they announced their split. FireEye acquired Mandiant in 2013. However, it became a standalone business in 2021 when its product business was sold to the private equity firm Symphony Technology Group (STG) for $1.2 billion.
Who are Mandiant competitors?
Some of the prominent competitors of Mandiant are:
Customer satisfaction is the key to customer retention and business sustainability. 83% of customers become loyalists when a brand prioritizes and resolves their queries. Yet, a lot of businesses are not able to deliver effective and timely customer service. Why? It is hard to set an SOP, train personnel, and deal with multiple complex customer issues.
An efficient solution that came up recently was live chat support. Live chat customer service is a real-time customer conversation that addresses their pain points and blockers. It is an online tool that enables customer interaction, recording transcripts, and sharing resources. In a nutshell, it fills all the gaps in the prevailing customer support system.
Live chat support can strengthen customer relations which strengthens your business goals. Customer satisfaction is a non-negotiable aspect of a business and lives chat services take businesses a step closer to that. However, there are some problems that businesses face with live chat systems such as:
Lack of personalization,
Lack of trained people,
Missing SOPs, and
Prolonged hours to resolve a complex query.
Below are some strategies that enable you to leverage live chat support to its full potential. But before that let us have a look at its benefits.
The above graph shows the customer satisfaction rate with respect to different methods in percentage
Benefits of Live Chat Support
Live chat service benefits are not confined to customer service. Not only is it crucial for customer service teams, but also the marketing and sales teams can leverage this tool. Here are 5 advantages that live chat support offers that could potentially boost your business growth by 4-8% in the market.
Insights Into Customer Pain Point
Real-time conversations with customers not only resolve their problem but also equips you with their pain points. If you receive recurring feedback or query in your inbox, you might need to look for an effective solution that handles it permanently.
For instance, you might get a lot of DMs regarding the refund policy from your shipment cart page. Then, adding more details in the same regard on the individual product pages would increase customer satisfaction. 80% of customer service teams depend upon insights and customer satisfaction reviews to improve themselves.
Build Trust and Rapport With Customers
Live chat support indicates that you prioritize customers and their needs. Every resolved query builds trust with the customers. Especially with live chat service, the conversation seems more genuine and natural. It is comparable to telephonic conversations that connect the agent with the customer and boost credibility.
Enhanced Conversion and Retention
Live chat support is timely and has a natural flow of conversation. As a result, customers trust the brand which boosts conversions and customer retention. In fact, 93% of satisfied customers go for repeated purchases from a brand.
Also, since the live chat service solves customer queries almost instantly, it leads to better conversions and reduces abandonment cart rates. The conversion goes up to 2.8x after an interaction on a live chat session.
Get Competitive Advantage
Having a robust live chat support system is a competitive advantage. How? 65% of customers switch to an alternative if the brand does not prioritize customer service. Moreover, 80% of users move to a competitor after one bad customer service experience.
Live chat service fills in the gaps of the traditional customer support system such as delays in responses and lack of effectiveness. Hence, it can give you an edge over other players in the market.
Make More Money!
Customer satisfaction means better conversion, customer retention, and competitive advantage. Eventually, real-time conversations can give incremental growth for business revenue by 15%.
68% of customers are willing to spend more on brands that offer good customer service. It comes from the fact that customers trust these brands which helps them scale in a way of word-of-mouth and repetitive purchases.
64% of customers prefer a real-time communication mode while shopping. A business that employs it efficiently can improve its NSP (Net promoter score). However, there can be several gaps while deploying this system. So, here are 20 strategies that can bring better results and cover all the loopholes.
1. Aim for Quick Responses
90% of customers want a quick response from the brand. But how much quick? 10 secs? 1 min? 5 min? 60% of customers mark quick as 10 min of wait time. Timely responses are crucial for customer support.
They are the real deal-breaker. With live chat support, accepting a chat request and finally resolving a query takes time, especially if there is a lot of traffic at the chat support. However, the agents should try and juggle a few customers at a time to reduce the waiting time.
2. Benefits of Live Chat Support
An agent can not possibly have answers to all the queries. A crucial role in timely reply is transferring the chat to the right department. The right agent would be more prompt with the replies.
Also, it enhances the relevancy of the solution offered. Hence, all the departments should cooperate to achieve customer satisfaction. After, a good customer service team also needs to collaborate with the marketing, sales, and product team to ensure 100% customer satisfaction.
3. Follow Up
Oftentimes, an agent does not have an answer. Even after transferring, the solution is still ambiguous. How to handle such a situation? Firstly, let the customer know that the solution is on the way. It might take some time. Secondly, thank them for being patient, waiting, and sharing the query.
Lastly, switch to another mode: Email, or messaging to share the resolution when available. In this case, following up is critical with the solution. It shows brand commitment and enhances brand rapport.
4. Apt Opening
The ChatBot is a great example to understand the effect of human messages
Opening the conversation in an apt way influences the end result. A robotic or automated message drives away the customer. Your opening/ greeting should be natural and personalized. But how do you personalize? By tracking the user’s web history. Apart from that, the trigger replies should also be more human-like. Something like:
“Hey, I saw you checking our enterprise products. Can I guide you in your journey?”
“Hey, You visited our blog section. Is there some specific topic you wish to know about?”
5. Use Canned Responses
An example of a canned response
Canned responses are crucial to save time and handle multiple customer chats simultaneously. They are templatized responses that help the agent answer FAQs promptly. However, instead of trigger-based canned responses, offer selective canned responses. In this case, the agent can select the response to send depending upon the customer’s query. It is relevant and quick.
6. Use Web Analytics
Web analytics can help you provide a relevant, personalized solution to the customer. It consists of the recent pages that the user visited on the site and helps the agent map the customer journey. As a result, the agent gets a brief history of the customer and enhances the solution offered. The agent can give a better response that fixes the query, removing unnecessary friction.
7. Limited Hours
An example to understand that 24/7 service is not always provided freely or one can set limited hours for it
Even though, chatbots are great at providing 24/7 customer support; live chats are better as the experience is genuine and human-like. Also, the responses are more effective. 43% of users prefer live chat support for customer services against 32% for telephonic conversation and 23% for emails.
But, you can not hire agents that work 24/7. Hence, having limited hours for live chat support that are clearly stated on the website, increases the efficiency of live chat support. It might lead to immense traffic at specific hours but your team should prepare accordingly to handle the number of customer queries.
8. Stick to a Defined Purpose
The agent should set clear expectations and a specific purpose for each chat conversation. Otherwise, it might lead to prolonged unproductive chats with a customer. You want to save agents time and resolve customer queries. Setting boundaries and understanding customer pain point makes it easier to provide solutions promptly without deviating from the core issue.
9. Concise Solutions
An example of a concise solution
The solution provided should not be open-ended. You do not want your customer to roam on your website for another hour and then move to a competitor’s website in search of the right solution. You should solve the query with a specific direct response that gives the user clarity.
The user should know their exact next steps and not be left ambiguous. Also, if the solution is lengthy, break it down into smaller sections that are easy to comprehend and follow.
10. Transition Through Channels
An example of how a transition through channels can take place easily
Oftentimes, the agent has to switch between the channels. The right agent knows when exactly the transition happens. Transition at the right time reduces friction, solves purpose, and enhances customer satisfaction.
For instance, if the agent does not have an answer for the query. They can simply request the user to submit the email or shift to some other channel where they can connect later.
11. Consistent Brand Voice
Be it content or customer support, having a consistent brand voice helps establish brand image and enhances brand recognition. It improves relations with the customer by distinguishing the messaging.
Also, it separates you from your competitors and optimizes your brand impression. For instance, Zomato is always seen as a brand with puns and a comical brand voice. So, sticking to a brand voice can critically impact brand reputation.
12. Inclusivity (Multilingual Support)
An example of a multilingual chat support service
Inclusivity is prioritized by many brands in their product line and message. With live chat support, multilingual support is the most significant aspect of being inclusive as a customer support team. Also, understanding customer pain points and their needs is crucial. Moreover, If you are a global brand, it is critical to opt for multilingual service that improves customer relations.
13. Automate
As mentioned above, your agents can not work 24/7. Hence, taking helping hands from AI and automating processes can extend customer support hours. Also, AI enables prompt replies, saves money, and gathers more information about the user.
However, you can not totally rely on these as they would eliminate the human touch. After all, 69% of customers prefer real-time communication over chatbots. It covers up for out-of-office hours of agents and keeps customer service active at all times.
14. Proper Training
Agents play an important role in live chat support services. They are the front face and interact with the customers. Hence, giving them proper training to initiate conversation, continue the interaction, solve queries, switch channels, and close the right way gives them an edge.
Also, having agents with cross-departmental knowledge promotes self-reliance which enhances response time. You could hire personnel to give training or have short training sessions to equip agents with the right knowledge and skill set.
15. Strategic Positioning
An Example- The chat icon is located at the corner that is not affected with scrolling of the page
Placing the icon for a live chat in the right place is also important. You do not want it to bury in some corner where is it not even visible. It should not be on your face that covers the entire webpage.
Place your live chat icon in the corner of the page which is visible throughout the scrolling window, which means it should not be restricted to the end of the page. Also, the working hours should be clearly stated along the icon or after the chat window pops up.
16. Offer Resources
Often the solution is not restricted to a few steps or a small conversation. In such cases, the agent needs to share relevant resources that clear user queries. Also, resources are a great way to end the conversation as the user leaves with additional information.
Another situation is when your agents face a recurring query. In such cases, you can create a dedicated resource that addresses customer pain points which can be shared as and when needed.
17. Chat Archive
Live chat support comes with an option to save the transcript and record it all into your CRM. But how does it even help? It helps in recording customer query history and helps to follow up for future conversations. Also, you can share a chat transcript with the customer if the solution was more broad and intricate. It acts as a resource itself.
18. Provide Detailed Solution
Even though it is recommended to keep conversations in a live chat concise, the agents should aim to provide a detailed solution. They should not miss any aspect which might increase friction. You should provide a comprehensive solution either in smaller chunks or via a shared resource that gives the customer clarity and satisfaction.
19. Pre & Post Chat Survey
An example of a pre and post survey form
Pre and post-chat surveys save agents time and help in measuring NPS. The pre-chat survey includes basic details about the customer and their problem. This helps in finding the right agent beforehand and reduces friction to switch between different personnel. The post-chat survey is more of a feedback form that enables you to analyze gaps and improve customer support service.
20. Limit to Certain Pages
It is advisable to place the live chat button on specific high-traffic pages to save time and effort. This directs the effort in the right direction to offer maximum value. Live chat support is a high-value customer support system that should be leveraged appropriately.
73% of customers are satisfied after a live chat support session as compared to 61% for emails and 44% for phones. Live chat is appreciated and chosen by the customer. The companies need to embrace the technology and use it efficiently to bridge the gap between customer satisfaction.
These were 20 tips that increase the efficiency of your live chat support system. There are only four key aspects of successful live chat support: relevance, empathy, conciseness, and personalization. If you achieve these four goals, you will probably ace the customer service tool: live chat.
FAQs
Why is live chat important for customer service?
Live chat is essential for customer service as it helps in many aspects that can build the trust and relation between the customers and the firm. It creates a good rapport between customers and the firm and provides immediate solutions to customers’ queries and many other similar things.
Does live chat increase conversion?
Yes, customers can easily get an immediate reply to their query. This immediate response can create a good impression on them and can get more chance of increased conversion.
What is customer support live chat?
Customer support live chat is the facility given by different firms to their customers to have immediate access to the answers to their queries by the means of the official website.
Shubham Kumar
