Middle East's 10 Most Influential CCOs to Watch December2023

Osama Makar A Journey in Pharmaceutical Leadership and Commercial Excellence

ONTENT

COVER STORY

Cx Internationalization for SMEs Made Easy - David Vitrano, Visable

Hassan Bharmal Crafting a Purpose-led Future in Fintech

ARTICLES Beyond Sales The Multifaceted Leadership of Chief Commercial Ofcers

Marketing Markets The Role of Chief Commercial Ofcers in Today's Business Landscape

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he Middle East is experiencing a commercial renaissance, with diversifica on propelling economic growth and a young, tech-savvy genera on driving a digital transforma on. In this dynamic landscape, Chief Commercial Officers (CCOs) have emerged as crucial architects of success, wielding a unique blend of strategic vision, cultural intelligence, and data-driven exper se.

No longer confined to siloed sales and marke ng func ons, today’s Middle Eastern CCOs are adept orchestra conductors, harmonizing customer experience, market insights, and revenue genera on into a cap va ng symphony of growth. They understand the power of storytelling, resona ng with a heritage-rich audience while leveraging cu ng-edge technologies to personalize offerings and navigate the complexi es of “Marke ng Markets.”

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These influen al figures are more than mere deal-closers; they are ecosystem architects. From cra ing compelling value proposi ons for diverse markets to forging strategic partnerships across borders, they navigate a complex web of rela onships with finesse and agility. Their success hinges on a deep understanding of local customs and values, ensuring effec ve communica on and culturally sensi ve strategies that resonate with regional audiences.

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However, the region’s dynamism poses its own set of challenges. Poli cal and economic uncertain es, evolving regulatory landscapes, and the need to bridge the gap between tradi on and digital transforma on demand constant adapta on and resilience. Middle Eastern CCOs rise to these challenges with remarkable for tude, constantly pushing boundaries and redefining the role of a commercial leader in a region brimming with poten al.

As we witness the unfolding of this remarkable chapter, let us acknowledge the influen al CCOs of the Middle East – the strategic visionaries, the cultural ambassadors, and the catalysts for sustainable growth. They are the driving force behind the region’s commercial transforma on, and their stories deserve to be celebrated as testaments to innova on, resilience, and the power of effec ve commercial leadership.

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Doha Drug Store places a strategic emphasis on key elements to propel its growth and success within the pharmaceu cal industry.

Middle East's 10 Most Influen al CCOs to Watch Navigating Patterns: Leadership in the Pharmaceutical Industry!

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hroughout our lives, we often find ourselves pursuing aspirations, recognizing that life tends to unfold in discernible patterns. Understanding one’s strengths and weaknesses enables swift connection of these dots. Similarly, effective business leadership hinges on recognizing and navigating patterns.

In the pharmaceutical industry, leaders are tasked with playing a dynamic and pivotal role within a complex and heavily regulated landscape. They must possess an extensive grasp of both local and international regulations, stay attuned to market trends, and keep abreast of emerging technologies in order to make well-informed and strategic decisions.

Fostering a culture of collaboration, innovation, and excellence, Osama Makar navigates a complex pharmaceutical landscape at Doha Drug Store. He serves as a CCO and demonstrates strong leadership skills by taking courses or participating in leadership development programs.

Here’s more about his strategic leadership: Journey from Medical Representative to CCO and Strategies for Success Embarking on a career in the pharmaceutical industry after obtaining a Bachelor of Chemistry and Microbiology, the individual commenced their professional journey with roles at Pfizer in Egypt as a Medical Representative and later as a Territory Manager for Allergan. Transitioning to project management in Qatar, the pursuit of further expertise led to the completion of the Project Management Professional (PMP) certification. Joining DDS in 2012 as a Key Account Manager for Engelhard marked a significant career shift.

Osama progressed to take on the role of Pharmaceutical Sales and Marketing Manager and eventually reached the position of Chief Commercial Officer (CCO) within the company.

To become a CCO at a pharmaceutical company like Doha Drug Store, one typically follows a career path that includes gaining experience in various aspects of the pharmaceutical business, including sales, marketing, and business development. Here are some key steps: 1. Skill Development: Develop essential skills for the pharmaceutical industry, including a deep understanding of pharmaceutical products, market dynamics, regulatory requirements, and sales and marketing strategies.

To become a CCO at a pharmaceu cal company like Doha Drug Store, one typically follows a career path that includes gaining experience in various aspects of the pharmaceu cal business, including sales, marke ng, and business development.

2. Progression: As you gain experience, work your way up through the ranks by taking on roles with increasing responsibility. This might include positions like regional sales manager, marketing manager, or director of sales and marketing.

3. Networking: Build a strong professional network within the pharmaceutical industry. Networking can open up opportunities for career advancement and mentorship.

4. Leadership Development: To become a CCO, you’ll need to demonstrate strong leadership skills. Consider taking leadership courses or participating in leadership development programs.

5. Strategic Thinking: CCOs are responsible for developing and executing the commercial strategy of the company. Therefore, it’s essential to develop strong strategic thinking and decision-making skills.

6. Results-Oriented Approach: CCOs are expected to deliver measurable results, so focus on achieving and exceeding sales and revenue targets in your career.

7. Promotion to CCO: As you gain experience and prove your ability to drive commercial success, you may be considered for the role of CCO. This is typically a senior executive position that requires a deep understanding of the industry, strong leadership, and the ability to guide the company’s commercial efforts.

Strategic Pillars for Sustainable Growth Doha Drug Store places a strategic emphasis on key elements to propel its growth and success within the pharmaceutical industry: 1. Market Research and Analysis: Undertaking thorough market research to discern opportunities and trends, the company delves into customer needs, competitor strategies, and regulatory shifts that may influence its operations.

2. Product Portfolio Management: A comprehensive evaluation of the existing product portfolio is conducted, identifying products with growth potential.

The company remains open to expanding into new therapeutic areas or geographic markets.

3. Sales and Marketing Strategy: Crafting an allencompassing sales and marketing strategy is a priority.

This involves pinpointing target customer segments, creating compelling marketing campaigns, and ensuring the sales team is well-prepared to meet their targets.

4. Customer Relationship Management: Building and sustaining robust relationships with key customers, healthcare providers, and industry stakeholders is considered paramount. The company places significant emphasis on customer feedback and satisfaction for enduring success.

5. Regulatory Compliance: Ensuring strict adherence to pharmaceutical regulations and standards is a priority. The company stays abreast of regulatory changes, adapting its operations accordingly.

6. Supply Chain Optimization: Streamlining the supply chain is crucial to meeting market demand efficiently while minimizing costs.

7. Partnerships and Alliances: Exploring strategic partnerships, collaborations, or licensing agreements with other pharmaceutical entities or research institutions is seen as a means to access new technologies, markets, or product pipelines.

market insights, identifies customer preferences, and optimizes the supply chain.

3. Personalized Medicine: The company is at the forefront of marketing drugs and therapies tailored to individual patients based on their genetic makeup and medical history.

8. Data and Analytics: Leveraging data analytics and market intelligence forms a foundation for making informed decisions and monitoring the performance of products and marketing initiatives.

4. Patient Support Programs: Doha Drug Store has instituted comprehensive patient support programs, offering information, medication adherence support, and financial assistance. This initiative significantly improves the overall experience and treatment outcomes for patients.

9. Talent Development: Attracting, retaining, and developing top talent within the commercial team is a priority. The company ensures that the team is wellequipped and motivated to achieve sales and growth targets.

5. Collaborative Research and Licensing: DDS actively collaborates with academic institutions, startups, and other pharmaceutical companies to access innovative research, technologies, and product pipelines.

10. Financial Management: Effective management of the commercial budget and optimizing resource allocation for maximum return on investment is a key focus.

6. Value-Based Pricing: Doha Drug Store explores innovative pricing models that tie the cost of drugs to their effectiveness and outcomes, moving beyond traditional approaches that only consider production and marketing costs.

11. Sustainability and Corporate Responsibility: The company contemplates sustainability initiatives and corporate responsibility programs that align with its values and resonate with customers and stakeholders.

12. Long-Term Vision: Developing a clear and inspiring long-term vision is a strategic imperative. This vision is communicated across the organization to align efforts and foster commitment.

13. Risk Management: Identifying and mitigating potential risks that could impact commercial operations and growth is integrated into the company’s strategic approach.

Pioneering a Future-Ready Pharmaceutical Landscape Doha Drug Store has strategically embraced innovative approaches and initiatives to revolutionize its commercial operations and make a substantial impact: 1. Digital Transformation: The company has successfully implemented digital solutions, including e-commerce platforms, telemedicine services, and mobile apps. This initiative aims to enhance customer engagement, streamline sales processes, and provide valuable health information.

2. Data-Driven Decision-Making: Doha Drug Store leverages advanced analytics and artificial intelligence to analyze large datasets. This approach provides valuable

7. Diversification of Product Portfolio: DDS strategically expands its product portfolio beyond traditional pharmaceuticals into cutting-edge areas such as biotechnology, gene therapy, and precision medicine.

8. Environmental Sustainability: Embracing sustainable practices in drug production and packaging aligns with growing consumer and regulatory expectations regarding environmental responsibility.

9. Supply Chain Resilience: Doha Drug Store has developed robust and agile supply chains that can respond quickly to disruptions, as demonstrated during the COVID19 pandemic.

10. Patient Engagement Platforms: The company has created online communities and platforms where patients can connect, share experiences, and access resources related to their conditions and treatments.

The success of these initiatives underscores Doha Drug Store’s commitment to strategic objectives and the evolving needs of its customers and patients. Each approach is tailored to enhance efficiency, improve patient outcomes, and contribute to the overall advancement of the pharmaceutical industry.

Navigating Regulatory Challenges in Pharmaceutical Innovation A common challenge that pharmaceutical companies may face and how they might address Regulatory Compliance and Drug Approval Delays Pharmaceutical companies often encounter challenges related to regulatory compliance and delays in the drug approval process. The regulatory landscape is complex and subject to change, and securing approvals for new drugs can be a lengthy and unpredictable process. Delays in approvals can have a significant impact on a company’s revenue and market competitiveness.

How to Navigate the Challenge: 1. Proactive Regulatory Strategy: Develop a proactive regulatory strategy that involves close collaboration with regulatory agencies. Engage in ongoing communication to understand requirements, address concerns, and ensure that all documentation and data meet the necessary standards.

2. Risk Assessment: Conduct a thorough risk assessment to identify potential regulatory roadblocks and uncertainties early in the drug development process. Develop contingency plans to mitigate these risks.

3. Cross-Functional Teams: Form cross-functional teams comprising regulatory experts, scientists, and legal professionals to ensure that all aspects of regulatory compliance are addressed comprehensively.

4. Regulatory Intelligence: Stay updated on changes in regulations and guidance documents related to drug approvals.

Invest in regulatory intelligence resources and subscriptions to anticipate changes that may affect your product portfolio.

5. Fast-Track and Priority Review Programs: Explore opportunities for fast-track or priority review designation for drugs that address unmet medical needs or have significant therapeutic advantages. These programs can expedite the approval process.

6. Engage Key Opinion Leaders: Collaborate with key opinion leaders and patient advocacy groups to build support for your product within the medical and patient communities.

Their endorsement can positively influence regulators’ decisions.

7. Global Harmonization: Harmonize regulatory strategies for global markets whenever possible to streamline the approval process across multiple regions.

8. Advocacy and Government Relations: Engage in advocacy efforts to influence regulatory policies and streamline the approval process. Establish relationships with government officials and legislators to promote a favorable regulatory environment.

9. Post-Approval Commitments: Be prepared to fulfill postapproval commitments, such as conducting additional clinical trials or post-marketing surveillance, to address any concerns raised during the approval process.

Successful naviga on o en requires a combina on of regulatory exper se, effec ve communica on, and a proac ve approach to addressing poten al obstacles in the drug approval process.

10. Portfolio Diversification: Maintain a diversified product portfolio to mitigate the impact of delays or setbacks in one specific product’s approval.

It’s important to note that each regulatory challenge can be unique, and the specific strategies employed may vary depending on the circumstances. Successful navigation often requires a combination of regulatory expertise, effective communication, and a proactive approach to addressing potential obstacles in the drug approval process.

Elevating Commercial Operations in Pharmaceutical Expansion The company is employing innovative strategies to significantly impact its commercial operations: 1. Product Diversification: Aiming to cater to a broader range of healthcare needs, the company is expanding its product offerings. This involves acquiring or licensing new drugs or therapies and developing an innovative product pipeline.

2. Strategic Alliances: The company is forming alliances with local distributors, pharmacies, and healthcare providers in target markets. This strategic move provides access to established networks and a customer base.

3. Customization: Recognizing the diverse needs and preferences of each market, the company is customizing its products and marketing strategies. This may include adapting packaging, dosage forms, and marketing materials accordingly.

4. Research Collaborations: The company is actively engaging in research collaborations with academic institutions, research organizations, and biotechnology firms. These partnerships facilitate collaboration on drug discovery,

development, and clinical trials, granting access to cuttingedge research and technologies.

5. Licensing Agreements: To expand its product pipeline, the company is entering licensing agreements for promising drug candidates or technologies. This involves collaboration with other pharmaceutical companies, startups, or research institutions.

6. Distribution Agreements: Strategic distribution partnerships are being established with established pharmaceutical companies or distributors. This aims to broaden the reach of the company’s products in specific regions or markets.

7. Patient Advocacy Groups: Collaborating with patient advocacy groups and non-profit organizations, the company is actively involved in raising awareness about specific diseases and conditions. These partnerships also contribute to clinical trial recruitment.

8. Government and NGO Partnerships: Strategic partnerships with government agencies and nongovernmental organizations are formed to address public health challenges. This includes initiatives such as vaccination programs and improving access to essential medicines.

solutions, ranging from advanced drug delivery systems to novel therapies.

2. Improved Patient Access: Enhance patient access to essential medications, especially in underserved regions. Explore initiatives that improve affordability and distribution.

3. Enhanced Disease Management: Contribute to better disease management and patient outcomes through investments in research, development, and educational programs for healthcare professionals and patients.

4. Market Leadership: Aspire to be a recognized industry leader in the Middle East by gaining significant market share and expanding product offerings to address diverse healthcare needs.

5. Regulatory Excellence: Maintain a reputation for regulatory excellence by upholding the highest standards of quality, safety, and compliance with local and international regulations.

6. Sustainability and Corporate Responsibility: Embrace sustainability practices and contribute to local communities through philanthropic initiatives, embodying social responsibility.

9. Technology Partnerships: The company is exploring partnerships with technology companies to leverage digital solutions. This includes the adoption of telemedicine platforms and data analytics tools to enhance patient engagement and healthcare delivery.

7. Healthcare Partnerships: Form strategic partnerships with healthcare providers, institutions, and government agencies to collaborate on initiatives to improve overall healthcare infrastructure and services.

10. Supply Chain Partnerships: Collaborative efforts with suppliers and logistics providers are in place to ensure a resilient and efficient supply chain. This is especially crucial during times of global disruptions.

8. Digital Healthcare Solutions: Embrace digital healthcare technologies and telemedicine solutions for enhanced patient engagement, remote monitoring, and healthcare delivery, especially post-pandemic.

Success in these initiatives hinges on careful planning, thorough due diligence, and the alignment of goals and values among partners. Each opportunity is assessed based on its potential contribution to the company’s growth, competitiveness, and ability to meet the evolving needs of patients and healthcare providers.

9. Talent Development: Invest in talent development programs fostering a skilled, motivated workforce.

Cultivate a culture of innovation, inclusivity, and continuous learning.

Charting a Visionary Course 1. Innovative Healthcare Solutions: Develop groundbreaking pharmaceutical products and healthcare

10. Patient-Centric Approach: Prioritize patient wellbeing and satisfaction in all commercial initiatives, ensuring a patient-centric approach to decision-making.

11. Ethical and Transparent Operations: Uphold the highest ethical standards, committing to transparency, integrity, and fairness in all business practices.

Hassan Bharmal Cra ing a Purpose-led Future in Fintech

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here innovation meets purpose" signifies more than a fintech mantra; it's a commitment to revolutionize financial services with profound societal impact. This ethos defines myZoi's mission for financial inclusion, championed by an accomplished and purpose-driven executive, the driving force behind its transformative journey.

Hassan Bharmal, the Chief Commercial Officer of myZoi | Financial Inclusion Technologies LLC., is steering the course toward a future where financial services are not just a business but a force for good.

For Hassan, a career spanning over two decades in financial services, consulting, and advisory led him to a profound realization: the dynamic fintech industry held the key to merging commerce with a higher purpose. Joining myZoi was not just a job for him; it was a commitment to drive business development and oversee the commercial side of things with a dual focus—making it commercially viable and profitable while ensuring the underbanked community truly benefits from the offerings.

MyZoi's proposition is simple yet powerful: to empower individuals through digital payroll solutions, instant crossborder transfers, and financial literacy, all seamlessly accessible through an easy-to-use app. With the consumer at the heart of their vision, it is not just a fintech platform; it's a purpose-led venture aiming to elevate financial awareness and well-being for the underbanked.

Headquartered in the UAE, myZoi is a wholly-owned subsidiary of Standard Chartered Bank, incubated through SC Ventures—the bank's innovation and fintech investment arm. Uniquely positioned as one of the few licensed fintechs in the UAE, myZoi recently obtained independent

16 December, 2023

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Transforming Lives through Financial Inclusion!

I really enjoy engagements with the ntech community and attending ntech events in the region, which provide learning opportunities from the industry, regulators, peers, and innovators.

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licensing from the Central Bank of the UAE, establishing itself as a credible payroll provider for employers in the region. Hassan's career spans prestigious global institutions like Citibank N.A., ABN Amro, QNB Group, Standard Chartered Bank, and PwC. An alumnus of Columbia Business School, he completed the Global Banking Program in 2019, focusing on fintech, AI, and digital transformation. His journey into fintech was fueled by a dual desire—adding purpose to his career and pivoting into the dynamic fintech space.

The inception of myZoi presented Hassan with a unique opportunity to be part of the founding team and build a purpose-led digital payments platform from the ground up.

Rooted in the drive for employee well-being and financial awareness for the underbanked, myZoi distinguishes itself as a force for good in the global fintech landscape. As myZoi aims to test its solution in beta with a limited number of users, the vision is set for a commercial go-live early next year (2024). Hassan and the myZoi team are not just building a fintech platform; they are crafting a purposeled future where financial inclusion becomes a transformative force, unlocking potential and reshaping lives for the better.

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Middle East's 10 Most Influen al CCOs to Watch

Below are the interview highlights: Could you please us about myZoi and its inception story?

Zoi means life in Greek. myZoi is committed to making a meaningful impact in the lives of the underbanked and their families. myZoi was founded by Christain Buchholz (Chief Innovation Officer) along with Syed Muhammad Ali (CEO), Shanawaz Rauf (COO and CPO), Nabid Hassan (Product Lead), and Arsalan Siddiqui (Country Head, Pakistan). myZoi was incubated by SC Ventures, and the concept was conceived and presented to the venture for funding and investment. The concept was approved, and initial funding for research was granted a couple of years ago. The company has progressed from them by attaining independent central bank licensing, uniquely positioning myZoi among the very few independently licensed fintechs in the region. Our ambition has always been to enable financial literacy and inclusion for the underbanked globally, outside of the UAE. We chose the UAE as our base and the first pilot market.

Why UAE? The answer is very simple: the UAE has positioned itself as a go-to destination for fintech innovation with a favorable regulatory environment through the financial-free zones. Emerging markets are expected to account for a growing proportion of global revenue. The share of revenue in LATAM, Africa, the Middle East, and Asia (ex-China) is expected to double from 15% in 2022 to 29% by 2028, as per McKinsey & Company. Hence, being headquartered in the Middle East, specifically the UAE, enables us to leverage this opportunity.

How do you identify and capitalize on new business opportunities in the market, and can you share some examples of successful partnerships or collaborations that you have initiated to expand the company's market presence?

Capitalizing on business opportunities is vital for geographic expansion and supporting the overall business development function. Our approach is centered around providing value to the customer by solving their problems and making their lives easier. I feel that for any business idea, feature, or initiative, there must be a strong ambition for problem-solving, which is validated by extensive user research. Pivoting based on user feedback in a quick and agile manner defines the success of the project.

17 December, 2023

Hassan Bharmal Chief Commercial Officer (CCO) myZoi | Financial Inclusion Technologies LLC.

We are driven by the Human Center Design (HCD) approach. This approach centers around meeting customer requirements and validating through extensive end-user research any new development that we undertake. a threepronged approach that starts with regular user research, internal brainstorming, and ideation from across the company and explores market dynamics and the competitive landscape to identify and work on the most valuable ideas and initiatives.

Identifying adjacencies and leveraging synergies with potential partners while collaborating is very important. We have the platform at the global level and business vertices across geographies to explore potential markets through a collaborative approach with our group’s local branches in the country to leverage the local market knowledge.

From a global partnership perspective, we are in the process of finalizing our partnership with a global provider that will help with expansion via a fully integrated white-labeled solution.

We have encouraging market feedback and ambitious plans of collaboration across multiple partners to provide value to our clients through innovative solutions focused on delivering income to employees. The idea is to deploy offerings from across the financial requirements on one platform.

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What metrics do you use to measure the success of your commercial initiatives, and how do you track and analyze these metrics?

This is an area I’m keeping close track of and am very passionate about. As Clive Humby said, "Data is the new oil."

There are multiple metrics that we use to measure the success of our commercial initiatives, which include: •

The competitive landscape, new entrants locally and globally, the regulatory landscape, tech developments, and evolving market dynamics provide indications of evolving market trends. There is certainly no lack of upcoming innovations, and companies and governments are looking at new ways of doing business.

I really enjoy engagements with the fintech community and attending fintech events in the region, which provide learning opportunities from the industry, regulators, peers, and innovators. I also stay in touch with the alumni from Columbia Business School, NYC, to keep abreast of the latest tech, financial, and fintech developments globally.

Customer acquisition costs include all enablers at the user level. A direct rail model helps to keep the cost on the lower side. This, coupled with digital awareness and marketing strategies, allows us to build focused engagements with our target audience, lowering the overall cost of acquisition substantially.

Please give us a few testimonials from your clients and awards or recognition that accurately highlight your achievements in the corporate niche.

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Revenue and revenue potential. Alternate revenue streams are created through continuous developments, partnerships, and collaboration initiatives. Recurring revenue streams are given enhanced focus as they enable certainty in revenue generation. The lifetime value of the end user is determined by the stickiness and stability of the customers.

myZoi is focusing on a micro-segment of the demographics, which is essentially providing comprehensive digital financial services and financial literacy to the underbanked globally. We are starting with the UAE first and then plan to expand across the region and globally. The initial feedback we received was the following:

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Value creation and validation of new developments with projected revenue forecasts are critical to measuring success. Clear ownership of product-level revenue, i.e., P&L, is a critical enabler that defines revenue accountability.

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A CFO of one of the largest retail conglomerates in the region said that myZoi is a creditable partner offering a bank-grade solution catering to the end-to-end payroll and financial services requirements of their blue-collar workers. They mentioned that other payroll providers cover employee needs only partially, while myZoi is seen as a comprehensive partner.

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Group Treasurer of a large local conglomerate working across multiple industries mentioned that the value they see for their employees will lead to an employee wellbeing partnership, they liked the easy user experience of myZoi, available in native languages.

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A Dubai-based multinational conglomerate involved in retailing apparel, footwear, consumer electronics, cosmetics, and beauty products commented that the myZoi offering promotes the social aspects of ESG, which is a key initiative for the group, along with enhancing the sustainability agenda.

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The finance head of one of the larger courier companies in South Asia mentioned that myZoi solves their employees’ payroll requirements comprehensively, and they relied on the paperless digital employee onboarding process, which was easy and took their employees a few minutes.

Building discipline around periodic tracking of key matrices across the organization is critical to monitoring and driving focus on the bite-size goals leading to the overall key performance indicators.

How do you stay updated with the latest market trends and customer preferences to inform your commercial strategies?

We are a customer-centric venture that leverages the Human Center Design approach, which requires extensive user research and user validation prior to progressing any idea, product, or initiative. continuously evaluating competitors to understand their products, features, and unique selling propositions to gather customer insights and understand innovation-led product creation the market is offering to benchmark and ideate for further innovation, "The light bulb effect."

18 December, 2023

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The Multifaceted

Leadership of Chief Commercial Officers I

n the ever-evolving landscape of modern business, the role of Chief Commercial Officers (CCOs) has transcended its traditional boundaries. While historically focused on sales, CCOs today are multifaceted leaders, driving strategic initiatives that extend far beyond mere revenue generation. Further, we explore the expanding responsibilities of CCOs and highlight the diverse aspects of their leadership that go beyond the conventional realm of sales.

Cross-Functional Collaboration CCOs are no longer confined to the sales department.

Instead, they act as catalysts for collaboration across various organizational functions. Collaborating with marketing, customer service, product development, and other departments, CCOs create a cohesive and integrated approach to customer experience and revenue generation.

Customer-Centric Approach

The Evolution of Chief Commercial Officers Traditionally, Chief Commercial Officers were primarily responsible for overseeing sales functions within an organization. Their key objectives revolved around revenue generation, market expansion, and client acquisition.

However, as businesses grapple with increasing complexities, dynamic market shifts, and heightened customer expectations, the role of CCOs has evolved to encompass a broader set of responsibilities.

Strategic Leadership One of the foremost responsibilities of modern CCOs is to provide strategic leadership to the organization. Beyond merely driving sales targets, CCOs play a pivotal role in aligning commercial strategies with overall business objectives. This strategic alignment ensures that every commercial initiative contributes to the long-term growth and sustainability of the organization.

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In the contemporary business landscape, customer experience has become a paramount differentiator. CCOs lead the charge in fostering a customer-centric approach across the organization. This involves understanding customer needs, preferences, and pain points to tailor products, services, and marketing strategies that resonate with the target audience.

Data-Driven Decision Making The era of big data has revolutionized decision-making processes, and CCOs are at the forefront of leveraging data analytics. By harnessing customer data, market trends, and performance metrics, CCOs make informed decisions that drive not only sales but also enhance overall business efficiency and effectiveness.

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Beyond Sales

Brand Ambassadorship

Technology Integration

CCOs often serve as the face of the organization, acting as brand ambassadors both internally and externally. Their leadership extends to building and maintaining the company's reputation, aligning business practices with ethical standards, and ensuring that the brand's values are reflected in every customer interaction.

CCOs are instrumental in integrating technology to enhance commercial operations. Whether it's implementing customer relationship management (CRM) systems, leveraging artificial intelligence for sales forecasting, or adopting e-commerce platforms, CCOs ensure that the organization embraces technological advancements to streamline commercial processes.

Beyond Sales: The Multifaceted Aspects of CCO Leadership Customer Experience Excellence While sales are undeniably crucial, CCOs recognize that the customer journey extends well beyond the point of purchase. They champion initiatives that focus on delivering exceptional customer experiences at every touchpoint, from pre-sales engagement to post-purchase support. By prioritizing customer satisfaction, CCOs contribute to long-term brand loyalty and advocacy.

Innovation and Product Development CCOs actively participate in shaping the organization's product and service offerings. Their insights into customer needs and market trends inform innovation and product development strategies. By ensuring that products align with customer expectations, CCOs contribute to enhanced market competitiveness and sustained growth.

Risk Management and Compliance In an era of increasing regulatory scrutiny and evolving business risks, CCOs take on the responsibility of managing commercial risks and ensuring regulatory compliance. This involves staying abreast of industry regulations, anticipating potential challenges, and implementing strategies that mitigate risks while fostering a culture of ethical business practices.

Global Market Expansion As businesses look beyond domestic borders for growth opportunities, CCOs play a vital role in global market expansion. They navigate the complexities of international markets, understanding cultural nuances, regulatory frameworks, and market dynamics. This strategic approach ensures that the organization's commercial efforts align with diverse global landscapes.

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Talent Development and Team Building Building high-performing commercial teams is a key aspect of CCO leadership. CCOs are involved in talent development, fostering a culture of continuous learning, and creating an environment where team members are empowered to contribute their best. Effective team building ensures that the organization is equipped with the skills and expertise needed for sustainable success.

Strategic Partnerships and Alliances Collaborations and partnerships are crucial for business growth, and CCOs actively seek strategic alliances that align with the organization's objectives. Whether it's forming partnerships with suppliers, distributors, or other businesses, CCOs leverage these relationships to enhance the company's market presence and offerings.

Crisis Management and Reputation Preservation In times of crisis, CCOs step into crisis management roles, working to preserve the organization's reputation. Clear communication, transparency, and strategic marketing responses are essential elements of their crisis management toolkit. By navigating challenges effectively, CCOs ensure that the brand emerges from crises with its integrity intact.

Conclusion The role of Chief Commercial Officers has evolved into a multifaceted and strategic leadership position that extends well beyond traditional sales responsibilities. By embracing a holistic approach that encompasses customer-centricity, innovation, risk management, global expansion, and technology integration, CCOs contribute significantly to the overall success and sustainability of modern organizations.

As businesses continue to navigate dynamic market landscapes, the role of CCOs is set to remain pivotal in shaping the strategic direction and commercial success of enterprises across industries.

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for H

amburg, October 2023 - The exchange of goods and services across borders—in other words, foreign trade—is becoming increasingly important. All crises of recent years, from the COVID pandemic to the war in Ukraine, scarcity of some resources, or inflation, have shown that geographic sales diversification can be a decisive resilience factor for companies. Especially now that China's economy is weakening, companies need replacement markets. Thanks to the opportunities brought about by increasing digitalization, new markets can be conquered more easily.

Small and medium-sized companies can advertise and sell their products or services globally via online shops as well as platforms—and in a sustainable way.

Made Easy Internationalizing Marketing Suitable marketing measures to support the internationalization of business activities are search engine optimization (SEO), search engine advertising (SEA), and social media. But above all, international online marketplaces are key players. Depending on the source, up to 1 professional purchaser out of 2 is using B2B marketplaces for his or her procurement needs. In Europe, platforms such as Europages and wlw are available. They bring suppliers and buyers together. For example: • •

Visable is a German-based company operating 2 platforms wlw (Wer Liefert Was) for German-speaking countries and Europages for SMEs in other European countries.

Internationalization is perceived as a huge opportunity for German SMEs, especially in the B2B sector. B2C trade has long been global, but B2B companies are still lagging behind. Fueled by the developments of recent years, SME B2B business is now catching up in the area of internationalization and is expected to develop rapidly. The online B2B e-commerce market is estimated at 25 billion dollars by 2028, seven times more than the B2C ecommerce market. SMEs can tap this huge worldwide opportunity from their national location.

France, number 8 in total exports worldwide, or even Germany, number 3 in total exports worldwide, according to the Observatory of Economic Complexity (OEC), has by no means exhausted the gigantic potential of digital sales.

European SMEs would benefit from the reputation of the "Made in Europe," "Made in Germany," and "Made in France" quality seals and the high demand for their products abroad. The opportunities for international expansion for European SMEs are greater than the risks.

22 December, 2023

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The inquiries on Europages come from a total of 193 countries, and on wlw, from 137 countries.

On wlw, the most inquiries in 2022 came from Germany, Austria, Switzerland, the United States, and China.

On Europages, the most requests came from France, Spain, the United States, Italy, and Germany.

The 10 countries with the most requests on wlw are distributed across 3 continents: Europe, North America, and Asia.

The 10 countries with the most inquiries on Europages are distributed over the 4 continents: Europe, North America, Asia, and Africa.

Partner of European SMEs: wlw and Europages Help With Internationalization With helpful functions on its B2B platforms, wlw and Europages, Visable supports European SMEs in their steps onto the global market. A company search and a precise product search with many sorting and filtering options are available for this purpose.

Among other things, filtering according to certain quality criteria is possible, such as ISO certifications, which are becoming increasingly relevant in order to prove compliance with

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prescribed standards with regard to supply chain protection laws. Via the Request for Quote/Connect service, buyers can also commission very specific inquiries, which are processed by the Visable research team and AI-supported.

You can find further articles, information, press releases, and downloads at https://www.visable.com/de_de/ueberuns/presse •

Already, a large proportion of the messages on Europages are sent across national and language borders. Linguistic hurdles do not stand in the way of initiating business. This is because the platform specifically aims to make it easier for B2B buyers to search for the products or services they need in their own language. When they find a relevant supplier, Europages helps them contact him in their own language. Several companies from different countries with different languages can also be contacted in one inquiry.

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Internationalization Made Easy - With the Right Strategy and the Right Partners With a well-thought-out strategy, internationalization projects are a huge opportunity for growth for European SMEs - especially in the B2B sector. They ensure future viability, as there is strong cut-throat competition in the local market. Thanks to the possibilities of digitalization, it is easier than ever to compare and sell products and services worldwide.

Visable supports industrial SMEs in making products and services internationally accessible to buyers. As a combination of its own B2B platforms and online marketing services, such as Google Ads and Retargeting, tailored specifically to business customers, the company offers a broad digital portfolio for increasing reach on the Internet.

The platforms operated by Visable GmbH include wlw ("Wer liefert was"), today the leading B2B platform in the D-A-CH region, and the European B2B platform Europages, on which around three million companies are registered. Together, the platforms reach three million B2B buyers a month who are looking for detailed company and product information. With its online marketing services, Visable offers companies additional opportunities to increase their reach on the Internet.

Visable was created in response to the challenges of internationalization and digitalization in the B2B sector and today employs around 450 people at its locations in Hamburg, Berlin, Münster, and Paris. As a joint umbrella for the wlw and Europages brands, Visable is continuously expanding its B2B platforms and online marketing services.

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Growth, resilience, and future viability: There is still a lot of potential in internationalization for German SMEs. Planning, consulting, and strategy: Important approaches for successful internationalization in the B2B sector Peter F. Schmid, CEO of B2B platform operator Visable, says, "We actively accompany German companies as they step onto the international stage."

This Trade and Development Report Update warns that developing countries are facing years of difficulty as the global economy slows down amid heightened financial turbulence.

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Global growth is expected to be lower than earlier projected, signaling a potential economic downturn.

Developing countries face mounting debt and insufficient international support, risking another lost decade.

The banking crisis highlights long-neglected financial fragilities and regulatory weaknesses.

Declining energy costs lead to lower inflation, but elevated food prices maintain a high cost of living in many developing countries.

Growing global asymmetries threaten developing countries' resilience, requiring stronger multilateral action and an urgent focus on sovereign debt architecture.

https://unctad.org/publication/trade-and-developmentreport-update-april-2023 Small and Medium-sized Enterprises (SMEs) are known for their scarcity of available resources, facing challenges beyond predictions, and looking for opportunities to survive and thrive in unpredictable international business environments. However, some SMEs are better equipped to develop opportunities and bring value to the firm than others.

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The Role of

Chief Commercial Ofcers in Today’s

Business Landscape I

n the dynamic and ever-evolving landscape of modern business, the role of Chief Commercial Officers (CCOs) has become increasingly vital, especially in the context of marketing. Traditionally, CCOs were primarily responsible for overseeing sales strategies, but in today's multifaceted environment, their role extends far beyond that. Further, we explore the evolving responsibilities of CCOs, with a particular focus on their pivotal role in navigating and optimizing marketing strategies across diverse markets.

The Changing Landscape of Chief Commercial Officers The traditional role of a Chief Commercial Officer was centered around sales and revenue generation. However, as businesses adapt to new technologies, global markets, and shifting consumer behaviors, the responsibilities of CCOs have expanded significantly. Today, CCOs are strategic leaders responsible for aligning sales, marketing, and customer experience to drive overall business growth.

Marketing Markets: Understanding the Dynamics In the contemporary business landscape, the term "marketing markets" refers to the diverse and complex arenas in which companies operate and compete. These markets encompass various channels, platforms, and segments where businesses promote and sell their products or services. The digital era has further amplified the complexity, with online and offline channels, social media platforms, and global markets all playing a crucial role.

The Four Pillars of CCO Responsibilities: Strategic Leadership CCOs are now integral members of the executive team, contributing to the development and execution of the overall

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Marke ng Markets

business strategy. They play a critical role in aligning marketing initiatives with overarching business objectives.

This strategic alignment ensures that marketing efforts are not only effective in reaching target audiences but also contribute directly to the company's bottom line.

Customer-Centric Approach With customer experience becoming a key differentiator, CCOs prioritize a customer-centric approach to marketing.

Understanding the needs, preferences, and behaviors of the target audience is fundamental to creating impactful marketing campaigns. This involves leveraging data analytics, customer feedback, and market research to inform marketing strategies that resonate with the audience.

Integration of Sales and Marketing The traditional silos between sales and marketing are rapidly disappearing, thanks in no small part to the efforts of CCOs. These executives are now responsible for ensuring seamless collaboration between sales and marketing teams. By aligning these functions, CCOs optimize the customer journey, from initial engagement through the sales funnel to post-purchase interactions, fostering brand loyalty.

Adaptation to Technological Advances In the digital age, technology is a driving force in marketing. CCOs must stay abreast of technological advancements, understanding how innovations such as artificial intelligence, data analytics, and automation can enhance marketing efforts. By incorporating cutting-edge technologies, CCOs can ensure that their marketing strategies remain relevant, efficient, and adaptable to changing market dynamics.

Navigating Global Markets For many businesses, the scope of marketing markets extends beyond domestic borders. CCOs must navigate the complexities of global markets, each with its own cultural nuances, regulatory landscapes, and consumer behaviors.

Successful global marketing requires a nuanced understanding of regional differences and the ability to tailor marketing strategies accordingly.

Cultural Sensitivity CCOs operating in global markets must be culturally sensitive and aware. What works in one region may not resonate in another. Understanding cultural nuances, local

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customs, and language subtleties is crucial for crafting marketing messages that are not only effective but also respectful and inclusive.

adjustments to marketing strategies, ensuring the business remains agile and responsive to changing market dynamics.

The Role of CCOs in Crisis Management

Regulatory Compliance Global marketing requires compliance with diverse regulatory frameworks. CCOs must navigate these complexities, ensuring that marketing campaigns adhere to local laws and industry regulations. Failure to do so can result in legal challenges and reputational damage, emphasizing the need for a thorough understanding of the regulatory landscape in each market.

Localization of Strategies Successful global marketing involves more than just translation; it requires localization. CCOs must work closely with local marketing teams to adapt strategies to the specific needs and preferences of each market. This includes tailoring product messaging, adjusting advertising tactics, and even modifying branding elements to align with cultural expectations.

The Evolving Role of Data in Marketing In the digital age, data has become the lifeblood of effective marketing strategies. CCOs play a pivotal role in leveraging data analytics to gain insights into customer behavior, market trends, and the overall performance of marketing initiatives.

Data-Driven Decision Making CCOs are increasingly relying on data to make informed decisions. By analyzing customer data, market trends, and campaign performance metrics, CCOs can refine marketing strategies in real-time, ensuring that resources are allocated to the most effective channels and campaigns.

In the unpredictable business landscape, unforeseen challenges and crises are inevitable. CCOs play a critical role in crisis management, particularly when it comes to protecting the brand's reputation and ensuring transparent communication with customers.

Brand Reputation Management The reputation of a brand is closely tied to its marketing efforts. CCOs are tasked with preserving and enhancing brand reputation, especially in the face of negative publicity or crises. Swift and transparent communication, coupled with strategic marketing responses, can mitigate reputational damage and maintain consumer trust.

Adaptive Marketing Strategies During times of crisis, marketing strategies may need to be rapidly adjusted. CCOs must be adept at crafting messages that address the crisis while remaining authentic to the brand. This adaptability ensures that marketing efforts are not tone-deaf or insensitive during challenging times.

Customer Communication CCOs lead communication strategies during crises, ensuring that customers are informed and reassured. Clear and empathetic communication is essential in maintaining customer loyalty and trust. CCOs leverage marketing channels to disseminate messages that align with the brand's values and commitment to resolving issues.

Personalization and Targeting Data allows for highly targeted and personalized marketing efforts. CCOs utilize customer data to create personalized experiences, delivering relevant content and offers to specific segments of their audience. This level of personalization enhances customer engagement and increases the likelihood of conversion.

Predictive Analytics Anticipating future market trends is a key aspect of the CCO's role. Through predictive analytics, CCOs can forecast market shifts, emerging consumer preferences, and potential challenges. This foresight enables proactive

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