All posts by Richard Hughes

About Richard Hughes

As Director of Digital Strategy at BroadVision, Richard Hughes brings extensive experience of understanding the way people work and how to apply pragmatic solutions to the communication problems faced by today’s organisations and their workforces. Combining visionary thinking with a firm grasp on reality, Richard specialises in developing and writing thought-leadership pieces on the key topics of the social enterprise, digital transformation and knowledge management. His experience on these subjects makes him a sought-after speaker at events as well as an advisor to corporations regarding strategies towards better management of the wealth of internal knowledge often hidden in an organisation, as well as better engagement of employees, customers and partners.

The Seven Stages of Personal Data Management

The value and importance of personal data is clearer than ever thanks to the Cambridge Analytica scandal, and greater scrutiny of the way internet giants like Facebook, Google and Amazon use our personal data.

But the services to help individuals manage their own data remain very primitive. To understand how these are likely to evolve, it is informative to look at the history of banking, how financial services evolved, and the parallels between management of money and management of data.

The new product described in this video, MyVmoso Network, is in development and not currently operational or available to users in any form. This products will not be made available to users until development and testing are completed and the product is determined by BroadVision to be ready for commercial launch. It is expected to start a pilot by the end of 2018 and enter production in the first half of 2019.

Introducing MyVmoso Network

MyVmoso is a like a bank for your personal data. It provides secure storage for important data you need to preserve such as health records, financial transactions, product purchases and warranties.

But just having a place to store your data is not that useful in itself – MyVmoso is so much more than that. It is the platform from which you can manage your data, how it is used, and your relationships with users of your data.

The new products described in this video, MyVmoso Network and MyVmoso Token, are in development and not currently operational or available to users in any form. These products will not be made available to users until development and testing are completed and the products are determined by BroadVision to be ready for commercial launch. It is expected to start a pilot by the end of 2018 and enter production in the first half of 2019.

The Data Privacy Crisis

Has the internet turned out to be everything you hoped for? 20 years ago, did you expect the internet to become powered by “surveillance capitalism” and dominated by a small number of tech giants who use your personal data to make huge advertising profits?

Few of us are comfortable with the way our personal data is used to target us with the ever-increasing volumes of ads. But recently this growing data privacy crisis has taken altogether more sinister turn, with this data allegedly being used illegally to influence the way we vote.

We are reaching a major inflection point in the development of the internet where governments and consumers will no longer tolerate these abuses of personal data. Data privacy is becoming a defining issue of our time. It is time for consumers to take back control of their data and how it is used.

MyVmoso Network

Concerned about data privacy and the Cambridge Analytica scandal? Learn about MyVmoso Network, a personal digital hub putting the consumer back in control of their private data, and enabling them to build trusted relationships with organizations they interact with online.

BroadVision Announces Fourth Quarter 2017 Results

REDWOOD CITY, Calif., Feb. 14, 2018 (GLOBE NEWSWIRE) — BroadVision, Inc. (NASDAQ:BVSN), a leading provider of e-business and engagement management solutions, today reported financial results for its fourth quarter ended December 31, 2017. Revenues for the fourth quarter were $1.5 million, compared with revenues of $1.5 million for the third quarter ended September 30, 2017 and $2.1 million for the comparable quarter of 2016.

License revenue for the fourth quarter of 2017 was $0.9 million, compared with revenues of $0.8 million for the third quarter ended September 30, 2017 and $1.1 million for the comparable quarter of 2016. The majority of the fourth quarter license revenue was generated from the Company’s BroadVision® Business Agility Suite™, Commerce Agility Suite™, QuickSilver™, and Clearvale® solutions. Revenue during the quarter was generated from sales to both new and existing customers.

In the fourth quarter of 2017, BroadVision posted net loss on a U.S. Generally Accepted Accounting Principles (“GAAP”) basis of $2.6 million, or $0.52 per basic and diluted share, as compared with GAAP net loss of $2.5 million, or $0.50 per basic and diluted share, for the third quarter of 2017 and GAAP net loss of $2.4 million, or $0.48 per basic and diluted share, for the comparable quarter of 2016.

Full-year 2017 revenues totaled $6.4 million, with a GAAP net loss of $10.1 million, or $2.02 per basic and diluted share, compared to 2016 revenues of $7.9 million and a GAAP net loss of $9.5 million, or $1.93 per basic and diluted share.

As of December 31, 2017, the Company had $9.6 million of cash and cash equivalents and short-term investments, compared to a combined balance of $12.3 million as of September 30, 2017 and $19.7 million as of December 31, 2016.

“Around the world, organizations are engaged in digital transformation projects, harnessing new technology to change the way they work and the way they communicate with customers and business partners, ” said Dr Pehong Chen, President and CEO of BroadVision. “But all too often, these initiatives are fragmented and disconnected from other projects in the organization. Vmoso’s Digital Enterprise Transformation Hub acts a central point for communication, collaboration and knowledge management, enabling individual projects to flourish in a heterogeneous IT infrastructure.”

About BroadVision
Driving innovation since 1993, BroadVision (NASDAQ:BVSN) provides e-business solutions that enable the enterprise and its employees, partners, and customers to stay actively engaged, socially connected, and universally organized to achieve greater business results.  BroadVision® solutions—including Vmoso for virtual, mobile, and social business collaboration, and Clearvale for enterprise social networking—are available globally in the cloud via the Web and mobile applications. Visit www.BroadVision.com for more details.

BroadVision, Business Agility Suite, Commerce Agility Suite, QuickSilver, and Clearvale are trademarks or registered trademarks of BroadVision, Inc. in the United States and other countries. All other company names, product names, and marks are the property of their respective owners.

Information Concerning Forward-Looking Statements
Information in this release that involves expectations, beliefs, hopes, plans, intentions or strategies regarding the future, including statements regarding BroadVision’s ability to enhance customers’ businesses, market acceptance of Vmoso and the ability of Vmoso to transform business operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include without limitation uncertainty regarding market acceptance of BroadVision’s products and services, BroadVision’s ability to sell Vmoso to its existing customers and new customers, BroadVision’s ability to provide reliable, scalable and cost-efficient Cloud-based offerings, BroadVision’s ability to effectively compete in its intensely competitive market and respond effectively to rapidly changing technology, evolving industry standards and changing customer needs, requirements or preferences, and the other risks set forth in BroadVision’s most recent annual report on Form 10-K, and subsequent reports filed with the Securities and Exchange Commission. All forward-looking statements included in this release are based upon information available to BroadVision as of the date of this release, and BroadVision assumes no obligation to update or correct any such forward-looking statements except as required by law. These statements are not guarantees of future performance and actual results could differ materially from BroadVision’s current expectations.

BroadVision Announces Fourth Quarter 2017 Results

Galaxy Health – Collaborative Process Management

Galaxy Health is a US healthcare insurance provider. Galaxy has chosen Vmoso to  improve its membership acquisition and renewal rate as well as a number of collaborative business processes involving member enrollment and renewal, plan management, claim escalation and dispute resolution.

Show Transcript

With so many parties involved in these processes – employees, family members, employers, brokers, insurers and providers – they can generate a huge amount of time-consuming discussions. Galaxy are confident that by using Vmoso Collaborative Process Management they can improve the efficiency of these discussions, leading to a lower cost of service and happy customers.

It’s open enrollment time at Vision International. Sue is an employee at Vision, and she’s trying to work out the best plan for her family.

Her husband, Joe, works part time and look after the children, meaning the whole family is covered on Sue’s plan.

Sue and Joe like the plan from Galaxy Health but have a few questions. So Joe downloads the Galaxy app and joins the chat. Included in this chat is Galaxy’s chatbot which gives rapid answers to frequently asked questions, reducing the burden on Galaxy’s customer service team.

Joe wants to check that his primary physician is included in the plan.

This is something the chatbot can handle easily, quickly confirming that the doctor is indeed already covered under the plan by searching Galaxy’s database of providers.

Joe suffers with back pain, so also wants to check whether a chiropractor he sometimes uses is included in the plan.

This time, the chatbot says no. But it guides Joe towards the process for requesting inclusion of additional providers.

By using a collaborative process to request additional providers, both Joe and Galaxy save time. Joe starts by entering the chiropractor’s details.

So by the time it reaches Galaxy’s customer advisors for review, all the necessary information has been collected.

Joe can see the status of his request and is notified when it’s approved, and has a record of the conditions attached.

Sue’s now ready to sign up for her Galaxy plan. Again, this is performed using a Vmoso collaborative process, which is integrated with document processing and digital signature systems to streamline this type of customer engagement; a document created by QuickSilver and maintained by DocuSign details specific coverages, terms and conditions under her plan.

 

When she runs into any trouble during this sign-up process, she clicks into the collaborative process’s chat tab, where its built-in chatbot is able to answer all her questions interactively, guiding her through to completion.

A few months later, and Joe has suffered a recurrence of his back trouble

He initiates the policy’s coverage validation process by requesting authorization for treatment from his chiropractor

As the chiropractor is not on the list of approved providers, this is not automatically approved, but assigned to Shirley in the Galaxy customer advisor team to review

Shirley tells Joe that unfortunately his treatment can’t be approved

But Joe has the details of the previous conversation where use of his chiropractor was authorised, so simply links to this.

Shirley acknowledges her mistake and approves the treatment

After a short course of treatment, Joe is feeling a lot better

But Sue’s surprised to receive an invoice from Joe’s chiropractor that she thought should have been covered in full by Galaxy.

So Sue starts a process to query the bill that involves both Galaxy and the chiropractor’s admin. She includes links to the authorization process, and the earlier agreement to add Joe’s chiropractor to the plan

Jamie in the Galaxy billing team assesses Sue’s query and looks back through the previous discussions. What Sue has failed to notice that the earlier approval did point out that only 90% of the chiropractor’s bill would be covered, and that Sue would be billed for the other 10%

Sue & Joe realise that they have overlooked this, and the billing query is resolved.

A year has gone by, and it’s now annual health insurance renewal time at Vision International.

Sue and her family have been very satisfied with their Galaxy Health plan, thanks especially to its mobile-centric high-touch engagement experience empowered by Vmoso.

So when Sue receives Galaxy’s renewal alert, she immediately starts the collaborative process to complete the renewal, which normally involves just a few simple confirmation steps.

However, by taking advantage of Vmoso’s Big Knowledge and its integration with artificial intelligence predictive reasoning capabilities, Galaxy can now analyze Sue and her family’s health profile and actual care received over the past year, compare that to a vast database of similar cases, and recommend the most cost-effective plan coverages for Sue to consider.

Sue chooses a new option, as recommended by Galaxy, which not only increases her coverage but also saves her several hundred dollars per year, making her an even more satisfied customer.

Galaxy’s use of Vmoso benefits everyone across its entire ecosystem, making it easier for customers to get the information they need quickly, and reducing the burden on Galaxy’s own customer advisors as well as its network of brokers and providers.

Using collaborative processes for plan selection, claim authorization and billing query processes ensures that everyone knows what needs to happen next and reduces miscommunication.

Preserving previous discussions as a “single source of truth” for future reference gives a full audit trail and ensures rapid resolution of any queries.

With Vmoso at the centre of their customer engagement, Galaxy has been able to achieve its business goals very successfully by improving membership acquisition, increasing customer satisfaction and reducing their cost of customer service.