How CPOs are Thinking Big Whitepaper

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To adapt to the market's constant changes, chief product officers (CPOs) of software companies must find ways to constantly innovate and compete. The following are four 'Think Big' ideas most CPOs are evaluating to help drive their business forward. How Chief Product Officers are Thinking Big Top 4 Initiatives to Stimulate Growth for Software Companies ONE MINUTE WHITEPAPER 73% of corporate leaders are pessimistic about global economic growth, 60% [of participants in PwC's 26th Annual Global CEO Survey] indicated they are not planning to delay deals in 2023 to mitigate potential economic challenge CPOs are preparing to manage expanding portfolios. They are trying to find a balance between organic growth and M&A activity to ensure resulting capabilities can contribute in meaningful ways to long-term success. CPOs need to be ready for anything - companies that have not considered M&A in the past are most likely doing so now. PwC and Morgan Stanley both expect deal making to be strong in the near future, as companies try to add to their core business and pursue larger target markets. The success of any portfolio expansion will hinge on objectives being clear. For example, is the goal to attract different customers (e.g., larger, more complex organizations) or to grow spend within the existing customer base (e.g., via upsell or new, adjacent opportunities)? Clear objectives enable CPOs to set evaluation criteria that drive better investment decisions. They can then establish the right milestones, teams, and processes to accelerate value derived from new capabilities. 2. Portfolio Expansion It is important for software companies to be able to adapt to serve new customers to drive growth. To do this successfully, business-to-business CPOs must work hand-in- hand with sales leaders to identify the best new prospects, while business-to-consumer CPOs will need to work closely with both marketing and sales to define and communicate with new customer segments. They must then ensure they have the technical capabilities and roadmap to deliver the offerings that will both appeal to these audiences and meet their requirements. One of the most difficult elements to master is product localization. Software companies have to understand what capabilities are necessary or how the product must be changed or configured to comply with local expectations and regulations. Successfully navigating these requirements (often by engaging specialists to program manage the process) can spur smooth entry into new markets and success with new customer segments to fuel growth. Software Companies Need to Navigate a Labyrinth of Constantly Changing Rules and Regulations 137 countries have legislation in place to secure the protection of data and privacy Every country has financial regulatory authorities that govern how transactions and financial data needs to be handled There are a host of industry- specific (e.g., PCI, HIPAA, GLBA, etc.), state and local regulations (e.g., CCPA), and federally imposed sanctions that could be applicable to any offering 1. New Customer Segments

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