BST Awards 2011: The Beauty of Beauty Parades

I don't get out of the office as often as I'd like, but today was a little different: I had two meetings with people representing buy-side focused technology companies, one of whom I have known for the best part of the decade, while the others I have known for at least five years.
For once, it was liberating chatting "off the record," shooting the breeze, as it were. I find that these off-the-record meetings are especially productive in terms of finding out what's happening in our market, especially from an end-user perspective. What I found most intriguing were my contacts' enquiries about this year's Buy-Side Technology Awards. (The cynic in me wonders about the coincidence of these meetings with respect to the timing of the BST Awards, but in their defense, I note that both had been arranged for quite some time, and that both principle contacts are US-based, which makes it unlikely that they would have scheduled a trip to the UK simply because they wanted to pick my brain.)
Meetings
Back to the meetings: They weren't interested in finding out who had entered the categories catering to their specific markets ─ what they did want to know, however, is what I would concentrate on if I were in their shoes.
The advice I give all technology vendors and brokers is this: Beware of using up too many of your 500 words on that which makes you a player in the game. In other words, your submission should focus not on the 80 percent of the functionality that you have in common with your competitors, but rather the 20 percent that sets you apart from them. This may sound obvious, but you'd be surprised by how many entries ignore what ought to be common knowledge.
Put it this way: When you go into a beauty parade, it's extremely unlikely that a buy-side firm will ink a deal with your organization based purely on the functionality you share with the rest of the industry. Experienced vendors know that beauty parades are won and lost on their ability to articulate that which sets them apart from the industry. It's what separates the winners from the also-rans.
Touch-Feely Stuff
On a separate yet related theme, it's surprising to note how many technology firms still believe that technology alone is sufficient to guarantee you success across the buy side. It isn't ─ not by a long shot. Sure, it's enough to guarantee you entry to the game, but when it comes down to the nitty-gritty of what buy-side firms want from their technology providers, it most often boils down to the "touchy- feely" stuff. Variables like how user-friendly and intuitive your technology is, how responsive you are as a service provider to your clients' needs, and how easy you are to live with on a day-to-day basis, are all incredibly important to users. The adage, "nice guys finish last," couldn't be more inappropriate to our industry. Sure you need to be focused and competitive, but don't let those aspirations supersede your interpersonal skills. It's astonishing how many technology vendors still don't seem to get this.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Witad Awards 2025: Technology leader of the year (vendor)—Mary Cecola, Broadridge Financial Solutions
Mary Cecola, CTO for asset management at Broadridge Financial Solutions, wins technology leader of the year (vendor) in the 2025 Women in Technology and Data Awards.
Witad Awards 2025: Trailblazer (Lifetime achievement) award (vendor)—Maureen Downs, Connamara Technologies
Maureen Downs, co-founder and chair of Connamara Technologies, wins the Trailblazer (Lifetime achievement) award (vendor) in the 2025 Women in Technology and Data Awards.
Witad Awards 2025: Legal/compliance professional of the year—Devi Shanmugham, Tradeweb
Devi Shanmugham, global head of compliance at Tradeweb, wins legal/compliance professional of the year in the 2025 Women in Technology and Data Awards.
Witad Awards 2025: Technology innovator of the year (end-user)—Ruchi Acharya Saraswat, RBC Capital Markets
Ruchi Acharya Saraswat, managing director, head of strategy and transformation, business and client services technology at RBC Capital Markets, wins technology innovator of the year (end-user) in the 2025 Women in Technology and Data Awards.
Witad Awards 2025: Best company for diversity and inclusion (end-user)—BNP Paribas Portugal
BNP Paribas Portugal wins best company for diversity and inclusion (end-user) in the 2025 Women in Technology and Data Awards.
Witad Awards 2025: Wellness/work-life balance award (end-user)—Sarah Mears, MUFG Investor Services
Sarah Mears, chief human resources officer at MUFG Investor Services, wins the wellness/work-life balance award (end-user) in the 2025 Women in Technology and Data Awards.
Witad Awards 2025: Exchange professional of the year—Valerie Bannert-Thurner, Nasdaq
Valerie Bannert-Thurner, executive vice president and chief revenue officer of the financial technology division at Nasdaq, wins exchange professional of the year in the 2025 Women in Technology and Data Awards.
Witad Awards 2025: Rising star (vendor)—Hannah Sayson, S&P Global Marketplace
Hannah Sayson, lead product manager of the S&P Global Marketplace, wins rising star (vendor) in the 2025 Women in Technology and Data Awards.