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Exam Code: Salesforce-Certified-B2C-Commerce-Developer Practice test 2022 by Killexams.com team
Salesforce-Certified-B2C-Commerce-Developer Certified B2C Commerce Developer

The Salesforce B2C Commerce Developer test measures a candidate’s knowledge and skills related to the following objectives. A candidate should have hands-on experience with B2C Commerce and should be able to demonstrate knowledge and expertise in each of the areas below.

B2C Commerce Setup: 11%
Given a sandbox environment, configure an IDE to use WebDAV to deploy cartridges to the correct version directories.
Given a sandbox instance and data import files, import files using the Business Manager Import/Export modules.
Given the code for a storefront site, add the correct sequence of cartridge names to the provided cartridge path.
Given a sandbox environment, use the Business Manager to add a new site to the instance, configuring the default currency and taxation type according to business requirements.
Given a recently created B2C site, assign the storefront data configurations according to business requirements.
Work With a B2C Site: 12%
Given a Business Manager task, work with the product data model to manage products and product search model, their categorization, and associated inventory and pricebooks.
Given a configuration for tasks, such as payment and shipping information, use Business Manager to complete storefront orders.
Given a configuration task, use Business Manager to work with Content Assets, Page Designer, Content Slots, and Content Folders.
Data Management Using Business Manager Usage: 24%
Given a business requirement, modify site search preferences and settings to enable searching for a specified term or product attribute.
Given a business requirement, create and configure a new search refinement and sorting definition that can be used on the storefront.
Given a debugging requirement or code, configure the logging categories and access the logs in Business Manager.
Given business requirements, extend the storefront to expose a new attribute on an existing system object type.
Given a business need to store custom data, determine if a custom object is needed and create and configure as required.
Given a performance issue and data, use relevant tools to inspect code performance and determine and implement solutions (cache configuration, profilers, etc) to Excellerate performance.
Given a specification and a sandbox instance, configure OCAPI permissions for Data and Shop APIs.
Given a service configuration, recognize how they are applicable to the development process.
Application Development: 53%
Given a development task, code ISML templates that use functionality such as: local include, remote include, components, and other ISML tags.
Use debugging best practices and techniques to troubleshoot scripts and controllers and verify outcomes.
Given a requirement, create and extend the functionality of a JavaScript controller that leverages models, decorators, factories, or helpers following API best practices and renders a template or returns a JSON response.
Given a business requirement and design for a new marketing page, develop page types and components to allow a marketer to build a page with the Page Designer tool.
Given a requirement to accept, validate, and persist information from a storefront customer, modify the appearance of a form, add validation and CSRF protection, and use bindings to process fields.
Given localization requirements, implement and enhance templates, form definitions, static files, properties files, and persistent object attributes to ensure that pages are displayed in the expected language.
Given a logging task and existing configuration, write code that logs non-sensitive data to custom log files with different log levels.
Integrate, deploy, and use a service instance based on a given requirement.
Given a use case, extend functionality or capture an event using hook extension points.
Given code that violates documented best practices, identify the issues and modify the code to conform with best practices including performance and scalability.
Given a business requirement, use OCAPI Shop and Data APIs to enable interoperability with an external system.
Given a business requirement to perform a scheduled task, develop jobs and code job scripts.

Certified B2C Commerce Developer
Salesforce Certified thinking
Killexams : Salesforce Certified thinking - BingNews https://killexams.com/pass4sure/exam-detail/Salesforce-Certified-B2C-Commerce-Developer Search results Killexams : Salesforce Certified thinking - BingNews https://killexams.com/pass4sure/exam-detail/Salesforce-Certified-B2C-Commerce-Developer https://killexams.com/exam_list/Salesforce Killexams : Modelit Celebrates Its 10th Anniversary

Featured Image for Modelit

Featured Image for Modelit

SEATTLE, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Modelit, a top-notch Salesforce partner, celebrates its 10th anniversary of offering top-quality implementation and development services to its clients.

"It's been an amazing journey. It's been full of experiences, it's been full of learning, and most importantly, it's been great getting to know so many talented people in the Salesforce ecosystem along the way. I want to thank our team for their hard work and commitment, and our clients and partners for the trust they put in us. We can't wait to see what we achieve in the next 10 years!"  -Diego Febles, Co-Founder

A Look Back

When the company began in 2012, Modelit consisted of only three team members. Since then, it has blossomed into the successful company that it is today. Over the years, Modelit has achieved such accomplishments as becoming a Salesforce Ridge Partner, becoming a PDO Partner, completing over 100 successful projects, and obtaining numerous certifications and specializations for its team members. Modelit is proud to have two Salesforce MVPs as part of its team, a privilege for a company of our scale, of which one even had the opportunity to speak publicly at the annual Dreamforce event. Now, with a team of more than 40 professionals, Modelit continues to thrive as a trusted Salesforce partner.

Company Values

Modelit's purpose has always been to empower organizations and individuals with Salesforce and technology, so that they can grow and thrive. The company takes pride in its core values, which are principal to each and every solution that it delivers. A team-oriented and forward-thinking approach allows experts to show up for clients time and again, constantly increasing the value of our customers' Salesforce investments. Building trust with clients, remaining committed to project outcomes, and maintaining strong communication throughout are crucial to the reliability that Modelit has provided for its clients over the last 10 years.

"Putting people first played a very important role in achieving this success and creating an atmosphere of respect and trust. When there are people who are passionate about what they do, working in a good environment where sharing their knowledge is encouraged and motivated, working as a team towards the same goal is the key to constantly learning, improving and delivering quality products to customers. I would not trade my role at Modelit for anything."  -Pablo Vigil, Team Lead, Sr. Software Developer

Forging Ahead

Modelit looks forward to continuing its journey, focused on becoming a top Summit Partner. The company will continue to strive for a cohesive team of Salesforce-certified members, hoping to be recognized as the top Salesforce consulting and development company in the Americas. The future looks bright for Modelit.

As a way of commemorating these last 10 years and celebrating what lies ahead, Modelit will be hosting a giveaway on its website. Keeping in line with the company's core values, the first 100 new subscribers will receive a copy of one of our top three recommended books.

About Modelit

Modelit is a highly rated Salesforce partner built by certified and experienced experts offering services in custom development, CRM configurations, and AppExchange app development. The company has offices in the U.S. and Latin America, operating within similar time zones as its customers and collaborating in real-time. Modelit is dedicated to helping its clients maximize their Salesforce investments by providing an aligned customer experience, faster time-to-market, and lower total cost of engagement.

For more information, please contact communications@modelit.xyz or visit www.modelit.xyz.

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Empower organizations and individuals with Salesforce and technology so they grow and thrive.

This content was issued through the press release distribution service at Newswire.com.

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Sun, 31 Jul 2022 21:00:00 -0500 en-AU text/html https://au.finance.yahoo.com/news/modelit-celebrates-10th-anniversary-130000152.html
Killexams : Revature and Salesforce expand partnership to build a talent pipeline trained and certified in Salesforce B2B Commerce Cloud

Revature

Revature becomes the first Salesforce B2B Commerce Cloud Authorized Training Partner

RESTON, Va., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Revature, the largest employer of entry-level technology talent in the United States, and Salesforce, the global leader in Customer Relationship Management (CRM), today announced a program to train and certify emerging tech talent in Commerce Cloud, a cloud-first solution that allows brands to deliver exceptional digital buying experiences for B2B buyers and rapidly adapt to market dynamics and customer needs.

Revature and Salesforce first partnered in 2020 to build a talent pipeline of certified Salesforce Developers, Salesforce Administrators and Salesforce Consultants to power the Salesforce economy. Today’s announcement expands upon this mission to meet the growing demand for tech talent trained and certified in Salesforce Commerce Cloud using Revature’s industry-leading approach. The program will be rolled out in phases, with the first phase focusing on the B2B Commerce solution and later expanding to other in-demand areas such as Order Management and B2C Commerce.

“At Revature, we train entry-level talent on the most in-demand skills and certifications, with real-world applications on their resume before they ever set foot in a client’s office,” said Anurag Gupta, SVP, Head of Product Partnerships at Revature. “This is exactly what we’ve partnered with Salesforce to accomplish. Online retailing and ecommerce has taken the world by storm leading to a significant demand for technology talent and through this partnership, we are connecting talent with opportunity.”

As a Salesforce Trailhead Authorized Training Partner and Salesforce Talent Alliance Workforce Development Partner, Revature will leverage its best-in-class hire-train-deploy model to recruit, train, certify and place new graduates from its network of 700+ university and college partners. Revature is now the first Salesforce B2B Commerce Cloud authorized Workforce Development and Training Partner.

“Ecommerce has revolutionized the way our world operates, and businesses are increasingly turning to Salesforce B2B Commerce Cloud to help them navigate inherent B2B ecommerce challenges, generate more revenue, and lower costs,” said Don Lynch, SVP, Cloud Solution Alliances at Salesforce. “In expanding our partnership with Revature, we are giving our customers and partners access to proven Salesforce-ready talent to help them power these initiatives.”

To learn more about Revature’s training program for Salesforce B2B Commerce, click here.

About Revature
Revature is the largest employer of emerging technology talent in the U.S. and the talent development partner of choice for Fortune 500 companies, government organizations and top systems integrators. Since its founding, Revature has trained over 10,000 software engineers in 55 technical disciplines, recruited talent from 700 universities, and deployed them to blue chip companies throughout the U.S.

Revature’s mission is to create a pathway for qualified candidates from diverse experiences and educational backgrounds to reach their potential as technology professionals. Graduates of the Revature program work on innovative, challenging and rewarding software development projects across the United States. Revature has committed to training one million developers over the next decade.

Learn more at www.revature.com and follow @WeAreRevature on Twitter and LinkedIn.

About Salesforce
Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Salesforce applications should make their purchase decisions based upon features that are currently available. Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM." For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE.

Contact:
Emily Brown
REQ on behalf of Revature
ebrown@req.co

Thu, 04 Aug 2022 08:56:00 -0500 en-US text/html https://finance.yahoo.com/news/revature-salesforce-expand-partnership-build-123000785.html
Killexams : Transforming People and Leading Breakthrough Innovation: an Interview with Tirza Hollenhorst

The very skills and behaviors continuous innovation requires are not commonly taught in professional development circles. Building a bridge to shape our future necessitates developing “soft” skills that enable high performance — and that can be messy.

Tirza Hollenhorst is the founder and CEO of LUMAN, where she brings her experience in strategy, culture design and innovation together to transform organizations and prepare them for the future of work. I sat down with her to gain practical insights on the human side of innovation. The following is our interview, which has been edited for clarity and conciseness.

Deborah Reuben: Tirza, would you share a bit about your background and the journey that led you to what you’re doing today with Luman?

Tirza Hollenhorst: Starting in science, I quickly discovered microbial

Tirza Hollenhorst, CEO, LUMAN

research science wasn’t for me. Eventually, I studied sustainability, large-scale development projects and corporate social responsibility. Organizations began looking at their social and environmental impacts. That leading edge pulled us forward into green business, social enterprise, sustainability, regenerative business and continuous innovation. My career is about how we think about creating the future we want to live in (technology, social and environmental).

Fundamentally, the biggest change we’ll see in creating our future is who we are as people and how we innovate. A key in Silicon Valley’s innovation successes was the personal development movement that was going on at the individual level, but that history is often glossed over by money-making and significant technological innovations. People didn’t appreciate the personal work underneath creating people who could think big beyond what was possible today, declaring that they would make it so and building companies and teams capable of achieving those outsize dreams.

Best-in-class tools were available for individuals to change their mindset and develop communication and leadership skills but not for companies. You might find innovation tools, but we saw nothing dealing with the real necessary shift in mindset and behaviors for individuals to actually lead and build teams capable of performing at the edge of change, so we created a company providing strategic advisory for facing an uncertain future as well as human development individuals and teams need to work in volatile times.

The inspiration for Luman

Reuben: What other problems in the corporate world inspired the creation of Luman?

Hollenhorst: We saw many teams with great ideas and inspiration lacking tools and skills to work together — to see things through the entire arc from idea to launch. Scientific studies show that the behaviors and principles making up high-performing teams or the dysfunctional reverse have not fundamentally changed. Neuroscience helps us understand how our brain chemistry and psychology support these teams. We need to understand what makes people feel fulfilled and safe enough to challenge. What makes the team high functioning?

We asked why is nobody doing this? Because it’s messy. It’s easy to point to design thinking, lean canvases or other innovation tools. A cool hammer to make things. It’s another thing to sit in front of a human being and say, “Your mindset isn’t working.” We need new mindsets. That’s messy work. Humans only have a mindset shift inside the container of a relationship. You can train new behaviors and maybe get new outcomes. Shifting where they are coming from requires being present and caring about the person in front of you.

From Henry Ford’s factories to the hyper-efficiency of the past 30 years, business industrialization engineered human relationships, creativity and caring for each other out of business — necessary elements for high-performing teams capable of stepping into the unknown. People were just cogs following job descriptions. That works in a world of slow change. Today you need people showing up daily with a different mindset, “I can create, see things, build new things.”

“Big I” and “little i” Innovation

Reuben: Would you share your concept of ‘big I’ and ‘little i’ types of innovation?

Hollenhorst: We often think of ‘big I’ innovation, whole new technologies, paradigms and business models. The iPhone and Uber are examples of ‘big I’ innovation. But ‘little i’ innovations are micro-changes required to function at the edge of change. It’s small changes in business process, tools, adoption, markets, messaging and even how we think about customer relationships. This organizational capability for continuous “small” innovations means giving people new authority and autonomy. We’re not suggesting handing the keys to the intern, but people hierarchies — everything approved at the top — is not fast enough. We need a hierarchy of purpose enabling empowered people throughout the organization to align with what we’re doing and deliver “small” innovations across the board.

Reuben: Let’s double click on hierarchy of purpose.

Hollenhorst: Past ‘people hierarchy’ organizational models provided significant economic and technological development over the years. Executive [teams] filter down to department heads filtering on to everyone delivering in their roles against job descriptions. To stay at the edge, continually delivering against challenges we collectively face, we now need to organize ourselves on a hierarchy of purpose, clarifying the organizational purpose and filtering it down for teams and individuals to identify their role within the larger vision.

Shifting individuals from fulfilling job descriptions to fulfilling a purpose filtering up. Salesforce does this. [Salesforce CEO Marc] Benioff visibly sets the vision, everyone in the organization identifies, shares and commits to their role in it, resulting in everyone understanding each other’s priorities within a shared, larger purpose.

Organizations become aware and aligned on purpose across departments. When people pull together in the same direction, we see distributed decision-making, agency and engagement. People are willing to challenge old ways of doing things because they no longer fulfill the purpose. We want to create that space and capacity for every individual to innovate from wherever they are, at appropriate risk levels.

Focus on the Human Side

Reuben: Why is it important to focus on the human side of innovation in times of rapid change?

Hollenhorst: The critical question is, “Do you want to innovate or be innovative?” You can do it repeatedly if you have the people, process, mindsets and capacities to deliver innovation. If not, you get resistance. The idea people don’t like change is not a complete picture. Individuals want psychological security in their place on a team. Without belonging and assured safety while learning and building something new, security is threatened. We push against the change. It doesn’t feel safe. We may not even know why.

We have psychological safety when making room for everyone to feel safe in their role, learn together and know their unique contributions are welcome. Suddenly, people are pulling for change rather than digging in their heels. You can ignore the human side, but it’s not a long shot to see your initiatives fail.

Redefining and Revealing Corporate Culture

Reuben: Corporate culture goes beyond the water cooler or breakroom. How are you redefining and building corporate cultures?

Hollenhorst: We broadly define culture as to how we do things; a baseline is how we show up for meetings. For example, is the expectation that we are on time, hydrated, curious about others’ ideas and ready to contribute efficiently so everyone has a voice? That’s expected of my team. On the other hand, many groups expect [a] delayed start until the highest-paid persons’ late arrival, overloaded agendas, unclear decisions and fuzziness about actions and agreements.

If that’s who we are in meetings (late, hierarchical, unclear and disrespectful of others’ time and value), it carries over into everything. I’m all for team-building experiences that foster real connection when we’ve been so distanced. But that’s not culture. Culture is how we do things. Behavior permeates everything and reveals our culture. We root people in different ways of being. Developing new mindsets, unlocking behaviors and routines to build new ways of collaborating — from simply how we show up for meetings to complex processes taking ideas from signal to launch.

Mindsets

Reuben: Where should leaders focus to develop innovation mindset and behaviors?

Hollenhorst: Focus in shifting mindset in the three early stages of the innovation process. First, there’s a signal. Something is telling us we need to change. Next, we stand in possibility. What could we create, and what is our hypothesis? Then we move on to feasibility. What are we going to do? How is it feasible?

Organizations tend to over-index on taking in ideas but have no place for them to go. They have a mindset of curiosity but aren’t purposeful. They’re not looking for what’s relevant now. Some organizations are great at the next step, standing in possibility, asking what could be. But they don’t move on to considering feasibility. While others go straight to feasibility, knocking down an idea and saying it’s not possible before really thinking it through.

If you do this, you’re never going to be creating next-generation technology because to create technology that never existed, you have to believe something’s possible that’s not actually feasible today. To build a bridge to a future that doesn’t exist yet, we have to separate these stages of standing in possibility (what could be) and feasibility (how we’re going to get there). Unfortunately, most organizations break down in those first three steps.

Shaping Your Tomorrow

Reuben: What is one thing leaders can do today to shape their tomorrow?

Hollenhorst: Get clarity. What’s important to you? What do you care about that energizes and lights you up? When do you feel brilliant contributing your best? What outcomes are you moving toward? Answer that for yourself and team [and] your capacity to collaborate and build tomorrow increases exponentially.

One thing you can do tomorrow is ask the person in front of you these same questions and listen. I’ve got decks and classes and courses and 1,001 micro tools, but if you boil it down to one thing, find out what you care about and ask the person in front of you what they care about, and from there, we can build together.

Conclusion

Innovation is never only about technology. Culture matters. It’s not on your website. It’s not a teambuilding event. It’s revealed daily in team behaviors. Building culture and mindsets for innovation can be messy. But it’s not impossible. You can develop teams capable of taking on the unknown and delivering breakthrough results. The key: Don’t lose sight of the human side.

Tirza Hollenhorst is CEO of LUMAN, a human innovation training and development firm catalyzing leaders with capacities needed to create solutions at speed and scale. Trained as a biologist and engineer, she brings tools of ontological design, culture development, business model design and organizational change to align culture and strategy with a thriving future. Learn more at luman.io/monitor.

Deborah Reuben, CLFP is CEO and founder of TomorrowZone, a technology strategy consulting firm bringing forward-thinking insights and original ideas to help companies gain efficiencies and design roadmaps for the future. She holds many industry leadership positions and authored The Certified Lease & Finance Professionals’ Handbook sixth through eighth editions. Learn more at tomorrowzone.io.

Tue, 26 Jul 2022 06:30:00 -0500 en-US text/html https://www.monitordaily.com/article-posts/transforming-people-and-leading-breakthrough-innovation-an-interview-with-tirza-hollenhorst/
Killexams : XSELL Technologies Announces XSELL Agent Experience on Salesforce AppExchange, the World's Leading Enterprise Cloud Marketplace

XSELL Technologies Announces XSELL Agent Experience on Salesforce AppExchange, the World's Leading Enterprise Cloud Marketplace

XSELL’s customers can now amplify top performer outcomes with precision, at scale

XSELL Technologies, a leader in conversational AI for contact center agent optimization, today announced it has launched XSELL Agent Experience on Salesforce AppExchange, empowering customers to amplify top performer outcomes across their contact centers.

Businesses can now leverage XSELL Agent Experience, or Agent eXp, to access AI-generated guidance, improving their customer experience in real-time across the enterprise, driving tangible results like increased NPS scores, decreased Average Handle Time (AHT), and increasing Speed to Proficiency.

Integrated directly with Salesforce, XSELL Agent Experience is currently available on AppExchange at https://appexchange.salesforce.com/appxListingDetail?listingId=a0N3u00000PsWt7EAF

“80% of your customers are speaking with agents who simply do not know or do not understand how to deliver a great experience. But what if all your customers could speak to your very best agents?” asks Matt Coughlin, CEO and Founder, XSELL Technologies. “Our AI-powered XSELL technology takes a data-driven approach to consistently delivering top performer outcomes by identifying and replicating specialized skill sets, with precision and at scale, to every single agent enterprise-wide. We are thrilled to bring the power of XSELL to Salesforce AppExchange to support organizations in their pursuit of a better customer experience.”

“XSELL Agent Experience is a welcome addition to AppExchange, as they power customer experience transformation for contact centers by improving agent performance,” said Woodson Martin, GM of Salesforce AppExchange. “AppExchange is constantly evolving to connect customers with the right apps and experts for their business needs.”

XSELL Agent Experience creates a smoother environment for every agent to deliver a better outcome for every customer.

About Salesforce AppExchange

Salesforce AppExchange, the world’s leading enterprise cloud marketplace, empowers companies, developers and entrepreneurs to build, market and grow in entirely new ways. With more than 7,000 listings, 10 million customer installs and 117,000 peer reviews, AppExchange connects customers of all sizes and across industries to ready-to-install or customizable apps and Salesforce-certified consultants to solve any business challenge.

Salesforce, AppExchange and others are among the trademarks of salesforce.com, inc.

About XSELL Technologies

XSELL Technologies was founded on the belief that the behaviors of the very best sales agents could be learned, replicated, and amplified to every agent in real-time to transform the way that businesses interact with their customers. Through patented AI technology, XSELL empowers customers to listen, learn and support agents in real-time with the exact information they need to exceed customers’ expectations and deliver top-performer experiences. Visit www.xselltechnologies.com for more information and to request a demo.

Christina Christensen
XSELL Technologies
612-868-0813
Christina.Christensen@xselltechnologies.com

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Mon, 18 Jul 2022 03:09:00 -0500 en text/html https://www.morningstar.com/news/business-wire/20220718005255/xsell-technologies-announces-xsell-agent-experience-on-salesforce-appexchange-the-worlds-leading-enterprise-cloud-marketplace
Killexams : MST Solutions Is Acquired by Mastek, Expanding Service Offerings On A Global Scale

MST Solutions Is Acquired by Mastek, Expanding Service Offerings On A Global Scale

MST Solutions, an independent Salesforce consulting and system integration partner, has announced its acquisition by Mastek (NSE: MASTEK) – a publicly traded Digital Engineering and Cloud Transformation partner with a global client base.

This acquisition will grow MST’s service offerings and deep bench of resources while opening doors to a global market. In turn, Mastek will further strengthen their Customer Experience service line, validating its commitment to bringing velocity and innovation to their clients’ digital transformation journey.

MST Solutions Founder and CEO, Thiru Thangarathinam, had this to say:

“We’re thrilled to join the Mastek family. We share a strong cultural alignment and a deep commitment to the growth and experience for our colleagues. Partnering with Mastek is the right choice for us to expand into a global market with a continued focus on delivering outcomes for our customers. By combining our decade of experience in the Salesforce ecosystem across multiple clouds with Mastek’s global scale, we’ll be able to deliver value across a wide range of service offerings.”

Both Mastek and MST Solutions share a strong culture that reflects their mutual commitment to a service mindset through a foundation built on their core values. The synergies between both organizations are expected to create expanded growth opportunities and a richer experience for their customers. Hiral Chandrana, Global CEO of Mastek, adds:

“Mastek’s Business Outcomes and Industry First DNA paired with MST’s Salesforce led innovation capabilities, will only strengthen the value we will deliver to our customers and help them in their journey to Decomplex Digital. This acquisition is expected to significantly increase our market share in existing accounts across industries in the Americas and provide a foundation to scale our Digital Transformation business globally.”

President and Global Chief Growth Officer, Raman Sapra, also adds:

“Mastek has built a Build-Buy-Partner strategic vision for Digital & Cloud services, and Salesforce is identified as a growth opportunity. MST brings in all the right attributes with deep expertise in Salesforce clouds to help us achieve this strategy and provide differentiated industry solutions.”

For more details, visit MST Solutions’ website at: MST Solutions | Certified Salesforce Consulting Partner in Arizona

About Mastek - Mastek is a turnkey & trusted Digital Engineering & Cloud Transformation partner that delivers Innovative Solutions and Business Outcomes for clients in Healthcare & Life Sciences, Retail, Manufacturing, Financial Services, Government/Public Sector, etc. We enable customer success and business change programs by partnering with enterprises to unlock the power of data, modernize applications to the cloud, and accelerate digital advantage for all stakeholders. Customers Trust Mastek to deliver Business Value with Velocity and we operate in 40+ countries including the UK, Americas, Europe, Middle East, APAC with ~5000 employees. We are in the business of de-complexing Digital and making our clients future-ready with an industry-first approach. Evosys, a Mastek company, is an Oracle Partner and a leading Oracle Cloud implementation and consultancy provider and has executed programs for 1,300+ Oracle Cloud clients. For more details, please visit our website www.mastek.com.

About MST Solutions - Founded in 2012, MST Solutions is the largest independent Salesforce consulting partner in the American Southwest region. With Summit level status in the Salesforce ecosystem and a 5 out 5 Customer Satisfaction score, they’re service experts who take service to a whole new level. Through the framework of a proven effective Roadmap to Results, their team of Salesforce architects, developers, project managers, and administrators add their expertise to your team to craft agile, innovative solutions that answer your organization’s operational challenges today and grow as you grow. MST Solutions is now a Mastek Ltd company.

Acknowledgements: Canaccord Genuity served as exclusive financial advisor to MST Solutions, and Weiss Brown served as legal counsel.

Emma Dicker
emma@mstsolutions.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220718005762/en/

Mon, 18 Jul 2022 10:14:00 -0500 en text/html https://www.morningstar.com/news/business-wire/20220718005762/mst-solutions-is-acquired-by-mastek-expanding-service-offerings-on-a-global-scale
Killexams : Primerica, Inc. (PRI) CEO Glenn Williams on Q2 2022 Results - Earnings Call Transcript

Primerica, Inc. (NYSE:PRI) Q2 2022 Earnings Conference Call August 9, 2022 9:00 AM ET

Company Participants

Nicole Russell - IR

Glenn Williams - CEO

Alison Rand - EVP & CFO

Conference Call Participants

Mark Hughes - Truist Securities

Andrew Kligerman - Credit Suisse

Ryan Krueger - KBW

Jeff Schmitt - William Blair

Daniel Bergman - Jefferies

Operator

Hello everyone and welcome to Primerica’s Second Quarter 2022 Earnings Webcast. My name is Charlie. I'll be coordinating the call today. You'll have the opportunity to ask a question at the end of the presentation. [Operator instructions].

I'll hand over to your host, Nicole Russell, Head of Investor Relations to begin. Nicole, please go ahead.

Nicole Russell

Thank you, Charlie, and good morning, everyone. Welcome to Primerica's second quarter earnings call. A copy of our earnings press release, along with materials that are relevant to today's call, are posted on the Investor Relations section of our website. Joining our call today are Chief Executive Officer, Glenn Williams; and our Chief Financial Officer, Alison Rand. Glenn and Alison will deliver prepared remarks, and then we will open the call up for questions.

During our call, some of our comments may contain forward-looking statements in accordance with the Safe Harbor Provisions of the Securities Litigation Reform Act. The company assumes no obligation to update these statements to reflect new information. We refer you to our most exact Form 10-K filings as well as modified by subsequent for 10-Q for a list of risks and uncertainties that could result in genuine results to materially differ from those expressed or implied.

We will also reference certain non-GAAP measures, which we believe provide additional insight into the company's operations. Reconciliations of non-GAAP measures to their respective GAAP numbers, are included at the end of our press release, and are available on our Investor Relations website.

I would now like to turn the call over to Glenn.

Glenn Williams

Thank you, Nicole, and thanks, everyone, for joining us today. The second quarter reinforced that we're making beyond the influence of the pandemic and see the fundamental strength of our business in action. The complimentary nature of our Term Life and ISP businesses continues to deliver important financial solutions to middle income families.

Starting on Slide 3, adjusted operating revenues of $672 million increased 3% year-over-year, while diluted adjusted operating income per share of $2.86 declined 12%. ROAE was 22.5% for the quarter. To assess the underlying strength of the second quarter results, we have to look through a number of distortions that made year-over-year comparisons difficult. First, last year's Term Life results were heavily impacted by COVID with sales and persistency benefits exceeding the higher death claims incurred.

Second, the equity market has completely reversed its momentum. The S&P 500 Index was up 8% in the second quarter of 2021 versus down 16% in the current period. Finally, the e-Telequote acquisition wasn't completed until July 01 of last year, which means financial results in the current period have no comparable offset in the prior year period.

It's important to look beyond these factors to understand and assess the health of our core business. As such, I will focus my prepared remark today on the clear growth path we see taking shape in the second half of this year. Term Life, our largest segment continues to provide a reliable source of earnings. Since the start of the pandemic, our enforce book has increased at a compounded annual growth rate of 5% versus our historical 3.5% growth rate and we reached a total of $914 billion of face amount enforce by the end of June.

The accelerated growth was fuelled by a combination of higher sales and higher face amount for policy issued, a trend that continues today. We believe the enforce block will continue to grow as we steadily layer on new insurance policies every year, creating a predictable source of recurring premiums. Our practice of reinsuring approximately 90% of our mortality risk further insulates our business from volatility and allows us to largely lock in profitability.

Focusing on the Term Life segment on Slide 4, we issued approximately 77,000 new Term Life policies during the quarter. We believe third and fourth quarter sales will outpace our pre-pandemic results while also exceeding their prior period comparisons. We project second half sales will increase around 4% to 5% year-over-year.

We expect our Term Life business to remain the primary source of deployable capital, which we plan to use to fund our growth, while also providing an attractive return to investors through quarterly dividends and share buybacks. While earnings in the Term Life segment are steady and predictable, our investment in savings business is highly correlated to the equity markets and the second quarter, certainly demonstrated how quickly momentum can shift.

Looking past the market noise to focus on the core business, you'll find a model built on strong fundamentals and rooted in our long term systematic approach to investing. Every day, our license reps interact with clients to help them meet their financial goals, which most often include planning for retirement. Approximately 70% of our total client asset values are invested in retirement accounts and almost 20% of all mutual fund sales are funded through automatic monthly investments. This focus on the future also results in lower redemption rates as clients stay invested despite market volatility, leading to a stickier asset base for Primerica.

Looking at our second quarter ISP results on Slide 5, high inflation, low consumer confidence and fears of a recession dominated the headlines during the quarter, creating significant headwinds for our ISP business. While sales had remained fairly strong earlier this year, the continued volatility and sharp decline in equity markets has impacted second quarter sales.

Today, second quarter sales were lower than expected; sorry; total second quarter sales were lower than expected at $2.7 billion, although net flows of nearly $900 million continue to reflect our client's buy and hold long term approach to investing. Assuming this uncertainty and volatility continues, our best estimate for third quarter ISP sales is a decline in the mid 20% range with some upside if markets improve.

While we expect full year sales to decline compared to last year's record results, it's worth noting that 2022 results are still expected to exceed pre-pandemic levels.

Turning next to more exact business ventures, our US mortgage business is experiencing growth challenges along with the broader industry due to the rapid rise in interest rates and slowing economy. In the second quarter, sales volume for about nearly 50% compared to the second quarter of 2021, resulting in a cumulative year-to-date decline of about 30%. This has not altered our views on the long-term prospects of this business or deterred us from actively working to expand the number of states in which we are licensed to offer mortgages as well as the number of mortgage license reps at Primerica.

We're also working to educate mortgage license reps on how to identify opportunities to consolidate variable interest rate consumer debt, build households with cash flow and capitalize on purchase money mortgage opportunities.

On Slide 6, we recognize that our newly acquired senior health business is not performed as we originally expected. We remain committed to driving a turnaround by carefully managing sales volume as we work toward a sustainable ratio of revenue to acquisition cost. We have deliberately limited like licensed health agent growth and made tough decisions with respect to certain of these agents who are not profitable based on reduced levels of LTV. We are focused on ensuring unit economics are headed in the right direction before we grow our licensed health agent sales force at e-TeleQuote.

Acquisition cost while seasonably high, relative to LTV in the second and third quarters of every year, continue to trend down on a net basis as we make progress on increasing our sales conversion and as a result, reducing both lead and labor costs per sale. We anticipate instituting a new health agent compensation model in the third quarter that is intended to drive agent productivity and profitable unit economics.

Using Primerica's strength and distribution provides a real advantage that our senior health competitors cannot duplicate, while it's still early referrals from Primerica reps are outperforming leads from traditional sources and we've already seen higher conversion rates from these leads. We believe the warm relationship with our reps will also lead to longer retention and higher LTVs based on early indications of the quality of business referred from Primerica to e-TeleQuote.

The number of senior health certified reps entering AEP this fall will be significantly higher than last year and we are optimistic about the volume and quality of leads Primerica's field can generate during the upcoming Medicare annual enrolment period. We made the decision to exercise our call option in early July to acquire the remaining 20% of Primerica. Given the results of the trailing 12-month period, the contractual formulate price defined in the Shareholder's Agreement for the exercise of the call option was $0 and the remaining stake in the shares were acquired at no cost.

Turning to Slide 7, recruiting remained strong compared to historical averages. Recall that we made liberal use of recruiting incentives through most of last year, which increased recruiting. In the first half of 2022, we returned to a more fundamental approach with fewer incentives and have seen sustained strength in recruiting with levels comparable to pre-pandemic results. This steady improvement in recruiting of the multiple exact quarters confirms the overall strength of our message and affirms that potential new recruits are attracted to our business model. The exact changes in labor markets and the desire for more independence and flexibility further reinforces the attractiveness of building a Primerica business.

We believe we have the infrastructure and processes in place to pull new recruits through the licensing and we leveraged the power of our convention in July to launch new incentive, to drive recruiting to new heights. We're already experiencing a strong response to these incentives and believe third quarter recruiting will be extraordinarily strong.

Turning next to licensing; a total of 11,529 New Life licenses were issued during the current quarter as momentum accelerates. To put this figure in proper context, licensing grew 14% compared to the second quarter of 2021, a period which included more than 2,000 COVID temporary licenses, the majority of which never converted to a permanent license. Compared to the pre-pandemic second quarter of 2019, licensing grew by nearly 6%.

As I mentioned earlier, we're seeing a clear benefit from our collective efforts over the last few years to Excellerate our licensing process and the introduction of new progress tracking tools that allow our field to keep new recruits accountable in real time. New recruits are also more comfortable within in-person classes as we continue to move further away from the COVID-related shutdowns and restrictions. To maintain our momentum, we're actively adding pre-licensing coaches and classroom sites to accommodate this increase in attendance.

Our message to the field over the last 12 months has emphasized the power and the combination of recruiting and licensing and our most exact quarter clearly demonstrated their buy-in. The ongoing strength and recruiting along with the more robust licensing process has led to a 2% increase in the size of our salesforce year-to-date and helped propel the Primerica sales force to over 132 life license reps at the end of June. Based on current trends, we expect the size of our sales force can approach 134,000 by year end.

Now let's review the impact of our convention, which took place at the Mercedes-Benz stadium in Atlanta, between June 29 and July 02. As you know, we leverage the power of this event to deliver a focused, consistent message simultaneously to a large number of people and to cast division for the future. The convention can also act as a momentum accelerator by re-energizing our sales force.

We are pleased with the attendance of nearly 35,000 people at the event; although attendance was down from 2019 due to lingering COVID concerns, travel restrictions and flight chaos that's currently overwhelming the airlines. What is most important is that we delivered on our goal to put the pandemic behind us and shift our focus to the future.

Preparation for this event begins by identifying the desired outcomes and defining appropriate messages. This year's message was focused on our unique ability to serve the middle market, the attractiveness of our business model and the importance of growing our license sales force through both recruiting and licensing.

The convention also featured an exhibit hall where participants were able to engage with our business partners and home office staff to hear about the most exact initiatives, obtain new product information training, and participate in demonstrations of our latest technology and tools. Convention attendees could also register for upcoming training and sign up for various portals and newsletters.

Over the four days of the convention, many participants also took advantage of onsite senior health certification at senior health booth.

As we look to the future, we do so with more confidence than ever knowing that we have the right systems in place and support needed for our reps to succeed. The recruiting incentives that were announced July 02, have filled the licensing pipeline and these new recruits will continue to fuel growth in sales momentum. We're excited to see results emerge over the next few quarters and into 2023.

With that I'll now turn it over to Alison.

Alison Rand

Thank you, Glenn and good morning, everyone. Let me start by walking you through the key earnings drivers by segment highlighting how each business has responded to the changing dynamics around COVID, market conditions and the economy. Starting with Term Life on Slide 8, operating revenues of $411 million increased 7% year-over-year driven by an 8% increase in adjusted direct premium.

Pre-check income growth was compressed to 3% due largely to insurance expenses that have been temporary elevated in the first half of the year. While the changing dynamics around COVID have shifted to benefits and claims ratios considerably year-over-year, the resulting Term Life operating margin was strong at 21% for the quarter.

Looking a little more closely at pre-licensing, we continue to see policy retention normalized as COVID fear subside. The last rate for policies issued during 2020 and 2021 are about 15% and 5% higher respectively than our pre-pandemic experience by duration. This is not surprising as these policies were issued during the height of the pandemic fear.

By contrast, we continue to see strong persistency on policies issued prior to the pandemic with lapses around 10% lower than pre-pandemic levels. Lapse is across all duration have picked up modestly from the prior quarter, which may indicate that inflation is emerging as a headwind.

However, we have not seen a reduction in average policy size or average premiums, which supports the notion that our market continues to prioritize financial protection when allocating the wallet share. We will monitor these trends as time progresses, but as of now, our current lapses remain modestly favorable to pre-pandemic levels. The DAC amortization ratio, which is seasonally low in the second quarter is 14.6%, which is consistent with pre-pandemic second quarter levels.

Shifting to mortality, COVID claims continue to subside and were $2 million net of reinsurance for the quarter. Barring any unusual changes in COVID status, we expect this level of COVID claims to continue in the third quarter. We also saw non-COVID claims of about $5 million below historical trends. Much of this is likely regular claims volatility, but we will monitor trends to see if a post-COVID improvement in mortality is emerging. Overall, the benefits and claims ratio was 58.5% during the quarter.

Insurance expenses were higher than normal in the second quarter, as we added the biennial convention, which was postponed from last year due to COVID to our normal schedule of salesforce leadership event. Even so, the insurance expense ratio of 8% was in line with pre-COVID second quarter levels and we expect the ratio to come down in the second half of the year.

Outlook to the third quarter, we expect persistency trends to put some pressure on adjusted direct premiums with growth of approximately 7% year-over-year. Any favorable impact on adjusted direct premiums from rising sales levels that Glenn discussed will take some time to build. The benefits and claims ratio is expected to be in the low 59% range and the DAC ratio should continue to trend in line with pre-pandemic third quarter levels. All in, we expect the Term Life margin to be around 20% for the third quarter.

Turning next to our investment and saving product segment on Slide 9, our investment business is highly correlated to the equity market. The rapid pace of market depreciation in the current period versus significant market appreciation in last year's second quarter had a major impact on our year-over-year results. Operating revenues of $222 million decreased 7% year-over-year. This combined with higher Canadian segregated fund DAC amortization elevated operating expenses due to Salesforce leadership events and a normalization of operating leverage from the very strong levels last year, led to a 17% decline in pre-tax income to 59% -- $59 million for the quarter.

Sales-based revenues and sales-based commissions declined 15% and 14% respectively. in line with the change in revenue generating sales. Asset based revenues remain largely unchanged compared to the prior year period as average client asset values declined 2% to $88 billion. A drop in asset values supporting our Canadian segregated funds accelerated DAC amortization during the period, creating roughly a $4 million disparity in the year-over-year results. Market volatility may continue to create noise in year-over-year comparisons on DAC amortization.

As we look to third quarter, if markets remain where they are now, we expect asset-based net revenues to decline about $3 million and sales-based net revenues to decline about $10 million year-over-year.

Turning to the Senior Health segment on Slide 10, we've continued to refine our approach for estimating lifetime revenues and believe the LPDs determined by our algorithms this quarter, reasonably reflect current persistency. The refinement to apply to projections for policy sold during the most exact AEP and OEP, which accounts for much of the $5.4 million negative tail revenue adjustment this quarter. We do not expect significant negative tail adjustments in the third quarter.

As Glenn noted, we are taking steps to Excellerate LTDs and reduce contract acquisition costs and we believe that business source through Primerica agents can be a key differentiator for our business. Our pre-tax loss estimate for the full year remains unchanged at around $35 million with a loss expected in the third quarter and a small profit in the fourth quarter during AEP. Funding required to support the business should be less than $10 million for the year, including the tax benefits recognized at the PRI level.

In our corporate and other distributed product segment, the $5 million year-over-year increase in pre-tax operating losses was driven by higher insurance and other operating expenses, as well as lower segment net investment income as the allocation to Term Life increased to support growth in that business.

Lower sales commission from third party providers, the most notable of which was mortgages, also contributed to the year-over-year increase in pre-tax losses. Consolidated insurance and other operating expenses on Slide 11 increased $25.6 million or 23% year-over-year. Roughly 7.5% or $8.5 million of the increase comes from the senior health segment, which did not exist in the prior year period.

Another 7% or $8 million is be a higher cost associated with in-person salesforce leadership event that we scheduled by annual convention, which added an event to our regular calendar and higher travel in general. The remainder of the increase is generally driven by growth in the business, employee compensation and technology.

Looking ahead, we expect insurance and other operating expenses to grow at more normalized levels as the temporary increase in expenses associated with field leadership events is behind us and senior health expenses will be reflected in the probable period. On a year-over-year basis, third and fourth quarter insurance and other equity expenses are expected to increase by about 8% and 6% respectively.

Turning next to Slide 12, our investment asset portfolio remains well diversified with an average rating of A and a duration of 4.8 years. The significant increase in interest rates over the past few months has pressured fixed income prices.

Our portfolio ended the period with an unrealized loss of $223 million compared to an unrealized loss of $84 million at the end of March. We believe these valuations are significantly tied to interest rates and not credit concerns. We continue to have the ability and intent to hold these investments until maturity. On the plus side, rising interest rates have provided the opportunity for higher reinvestment than we have seen in several years, which will benefit net investment income over time.

Liquidity at the holding company remains strong with invested assets in cash of $232 million. In Primerica Life Gramer light, statutory risk-based capital ratio, was estimated to be about 460% at June 30, 2022. We will purchase $128 million of our common stock during the quarter between combined with our purchases and pre-prior period leaves around $80 million remaining of our $325 million program.

Let me wrap up with an update on LDTI, which becomes effective next year. As a reminder, we are selecting and modified retrospective transition approach, and we'll apply the standard perspectively as of January 01, 2021. Starting with yearend 2020 balances for benefit reserves and DAC. One minor exception is that if LBTI assumptions increased the net premium ratio above a 100% for a specific policy cohort, the ratio is capped at a 100%. This may impact an isolated group of cohorts, but will not significantly impact opening reserve balances.

We expect Term Life earnings to emerge more quickly under LDTI due to slower DAC amortization. While deferrable expenses do not change under the standard, capitalized costs will be amortized straight line based on current case amounts. You have a popular rider that allows face amount to increase annually by 10% for a period of 10 years. Under current GAAP, the level commissions on these riders are capitalized and amortized in the same period, whereas under LDTI, they will be amortized straight line like other acquisition costs.

We expect our DAC amortization ratio to be reduced by 250 basis points to 350 basis points going forward compared to historically normal ranges that exclude exact pandemic related volatility. We also expect earnings to emerge faster from benefit reserves as historically locked assumptions that include provision for adverse deviation are replaced with current best estimate.

COVID claim variances that occurred since 2020 will be somewhat of an offset since under LDTI, the impact of experience variances is partially spread over future reporting period. The impact of any assumption changes will also be partially spread to future periods under the modified retrospective adoption method. The portion spread to future periods, it’s highest at the transition date and reduces over time as cohorts durations progress.

Given the homogenous and predictable nature of our business and our significant use of reinsurance, we do not expect large or frequent assumption changes to occur.

Turning to the impact on equity, the standard requires the benefit reserves to be remeasured each reporting period under market observable rate based on an A rating with a difference between reserves using these rates and locked in rate reflected in AOCI. Given the rated average of our reserve liabilities. rateded average age of our reserve liabilities, the average lock-in valuation rate is approximately 5.25%. This is significantly higher than the year-end 2020 market observable rates, but much closer to current rates given the dramatic rise seeing in 2022.

If we applied the market observable rates in effect at June 30, 2022, the opening reserve balance at the date of transition, we estimate the after tax reduction to AOCI would be less than a $100 million. As a reminder, LDTI changes the timing of earnings, but it does not impact the true economics of the business, underlying cash flows or statutory capital requirements. We'll continue to provide updates on an LDTI as assumptions, processes and control are finalized.

With that, I will turn the call over to the operator for questions.

Question-and-Answer Session

Operator

[Operator instructions] Our first question comes from Mark Hughes with Truist Securities. Mark. Your line is now open.

Mark Hughes

Thank you. Good morning. Okay, great. Thank you. Good morning. Allison, you deliver us some good, excellent, excellent -- you deliver some good specific numbers on the DAC impact of 250 bps to 350 bps. Talk a number of other impacts, but when you think about the P&L effects; is that 250 bps to 350 bps, is that principally what we're going to see and should factor in, or are there other specific line items and ranges you you'd care to share? And then, when is that -- is that all kicking immediately? Do you get the full benefit at implementation?

Alison Rand

Okay. there are a few questions. Now I'll try my best to answer all of them. The DAC amortization obviously will be prospective. So from that point forward from data transition forward, we will see the pattern emerge along the lines of what I was discussing 250 basis points to 350 basis points lower than. And just to be clear, we've obviously seen a lot of volatility in our DAC ratio because of the impacts of COVID. So what my comparisons are to pre-COVID levels. So sort of normalized levels.

The other thing and that's a very straightforward, I say it. Very straightforward in comparison to some of the other things with LDTI, the DAC calculation's a little more straightforward, because it's very formulaic. On reserves, there are more anomalies because you hinge your results as you know, based on day one.

What we do believe is that one, as I said, in my comments, we won't have a lot of large assumption changes is given the nature of our business and our extensive use of reinsurance. So that's one thing that should safeguard us from a lot of heavy volatility there. We do also believe in general that the benefits ratio will be lower under LDTI because of the fact that you get these sort of open up or unlock all these historical assumptions that, one, have -- there's been mortality improvements since these were set.

And initially, they were also set with pads. that benefit ratio should be lower than we've seen typically under current GAAP. The one caveat, and we, quite frankly, aren't finished with the full work around it is just to see [Audio Gap] how COVID, which, again, because of the way LDTI treats experience variances, some of what we've already recognized in our GAAP P&L for COVID will actually be spread into future periods, some would have an offset. But all in, we do expect benefit reserves to also emerge much lower than it currently did.

I did -- just one more thing on DAC amortization, I'd say one other thing -- One other thing, and this is -- it's actually not in Term Line. This is in our ISP segment. The DAC amortization on the SEG fund, you saw it this quarter had a $4 million a different level of FAS97 type of accounting. And so one nice thing will also go to a straight line type of method. So a lot of the volatility...

Mark Hughes

We say benefit ratio lower, it sounds like that's hundreds of basis points potentially, is that the magnitude?

Alison Rand

Yes. So again, at this point, and we're being very aware where we are with regard to our controls, our stock documentation and the like to make sure that we don't deliver out numbers ahead of where we've gotten everything nailed down.

So I can't quantify it at this point, although I think if you just want to think about things along the lines of all the our book of business, those should really start to flush back out to have -- under the current gap. The other thing to remember that mortality risk. So it's only the volatility on the exposure that we retained. I don't want to say nothing changes because of the pieces that are reinsurers. But those costs, if you will, are pretty locked in.

Mark Hughes

Okay. And then, Glenn, do you deliver an outlook for the sales headcount? Would you expect either Q3 or through the balance of the year, you clearly think -- you say that the recruiting is extraordinarily strong, which sounds pretty good. But how does that float to the overall sales force headcount?

Glenn Williams

Sales force headcount, I'm sorry, Mark, just to clarify. Is that the question?

Mark Hughes

Yes, exactly.

Glenn Williams

The sales force. Yes, we are seeing -- as you know, from previous each quarter and the size of the sales force, as we've seen the positive results of our efforts to drive both recruiting and the licensing pull-through. So we're continuing to see some -- now, our year-end sales force count is going to be in the range of 134 -- I'm sorry, yes, 134,000 licensed reps. So that's a little more optimistic than we gave last quarter.

Mark Hughes

Yes, very good. And then one other question, the senior health policies in the quarter, [audio gap] were from Primerica reps?

Glenn Williams

Yes. If you look at that all the way down to approved policies and you're looking right now, we're running in about the 4% range of total.

Mark Hughes

Okay. Thank you very much.

Operator

Our next question comes from Andrew Kligerman of Credit Suisse. Andrew, your line is now open. Please go ahead.

Andrew Kligerman

I was wondering on Senior Health. You talked about a model to Excellerate activity, maybe a little color on that to that segment -- debt to profitability. I know you're predicting $35 million loss this year. Where might you see some light at the end of the turnoff for this? A lot of questions.

Alison Rand

Yes. Andrew, I'll take sort of the latter part of this. The -- it's interesting. Right now, in the second and third quarters, we knew just from a seasonal standpoint, we're tending to be negative quarters from an earnings perspective get because there's not a whole lot of volume. In the third quarter, there's also the ramping up to make sure your agents are in their seats for AEP.

We do, as I said during my prepared remarks, expect there to be a loss this year -- at loss with almost no if possibly no, I said less than $10 million need for funding. So we're very -- how much money we're putting into this business as it tries to rebuild and work through the dynamics of the industry itself.

So I will say our focus has been very much on how much capital we put in, and it's one of the reasons why we're actually keeping the number of agents that very low, which Glenn will get to in a moment.

But with that said, we do expect our key -- Our goal is to get to a point where we can make a profit this year during AEP and then look to next year for AEP in the first quarter to really be a continued driver of that profit.

We're not -- again, because we're being very cautious about this and very focused on how much cash we want to put into this business, we are not going to take our foot completely off the break until we really think it will still take us several quarters to assess how we're doing.

The main thing will be, and you're seeing various dynamics in the industry if you were a little bit less [audio gap] marketing activity, all of that should help our dynamics, but we obviously have to let that play out. And once we see that mature and prove out according to what we take will happen, then we can really take the foot off the break in 2023 to continue to ramp up the business as the year goes by.

Glenn Williams

And Andrew, if I could pick up on your question about agent count at ETG, we're at about 325 employed sales center agents at this point.

Andrew Kligerman

And the productivity model change, anything you would call out on that?

Glenn Williams

Well, we're working through all the levers of trying to make sure -- that's down from about 400 at the beginning of the year. So we are working toward our most productive agents reducing force of those that are not productive and not profitable.

And so that's part of our process right now as we're finding our productivity dynamics and focusing on the most productive, most profitable reps, as well as working with care could be a product flow and so we work with characters on changing or improving the products. So we're pulling all of those levers and watching productivity dynamics change. And things are moving in a positive direction, but we've got significantly more work to do.

Andrew Kligerman

I see. And if I could just sneak one quick one on an investment and savings product sales. You're guiding to about a 20% decrease in sales in the third quarter. The market seems to have improved a little bit in the third quarter. Any sense of why you're -- deliver a little color on why you're projecting such a kind of a significant drop-off in the third quarter?

Glenn Williams

Yes, Andrew. As we've talked about in many of our discussions over the years, our client base tends to react a little more slowly to market events then maybe a higher income client base would. And so generally, when things start turning down, we have some resistance to that for a period of time. And then when things start normalizing, it takes us a little longer, ongoing stability and even improvement. Then hopefully, we'll see that turnaround start to take place. Just not sure if what's left in the third quarter if we can see it by then. So we're trying to take a reasonable approach to that. .

Operator

Our next question comes from Ryan Krueger of KBW. Ryan, your line is now open. Please go ahead.

Ryan Krueger

That was a bit of a different question maybe for Alison. Could you talk a little bit about how much the rough amount of annual dividends you'd expect to normally take out of your U.S. Life stubs? I know it posed around a fair amount.

Alison Rand

Yes. [Audio Gap] bit of thought that's not necessarily something -- and you can actually see it if you look at the blue book, but that number is rising. We had a little bit -- I'll deliver you color on the dynamics.

So we did have some anomalies going on a few years to go with regard to how the XXX transactions, how the economic reserves. That's behind us. It was constrained -- We actually have seen I'll deliver some color. We are increasing our expectations by about $50 million for next year from what we had been thinking may be.

So all in, the signs are pretty strong. We also ended up with -- that's one of the things because we ended up with a 450% RBC, that is, in our opinion, more than we need to have as the life insurance company. So part of that $50 million is bringing that back down closer to, let's say, the $420 million level with obviously our target being not going below $400 million. .

So we monitor that. We obviously want to make sure we keep enough capital in the company to -- for two reasons, the reason the two that I'll throw out for you. One is to make sure we support any kind of growth initiatives we have at the life insurance company; and two, to maintain our ratings.

One of the key drivers of the strong range that we have is our robust capital position. So with all that said, I see the number coming out of the life insurance companies, the operating unit is very stable. I think there'll be improvement annually and we're looking to...

Ryan Krueger

That's helpful. And then separately, I mean, I think it's varied some in the past, but could you deliver a little more context and when you have there been past recession to what extent you have seen much of an impact within your Term Life book in terms of...

Alison Rand

Yes, I'll start and you can talk about sales plan. In the 2008 period, again, very similar to what going with talking about ISP. Our market doesn't -- it's a little insulated. But once it reacts, it reacts probably for a longer period of time than the rest of the market. So we sort of had our worst impact on persistency, not in -- actually was more so 10 and 11 to 12, really when the economy, the market may have come back, but the economy stayed very stagnant so really middle-income consumers. So when we see it across the board.

And back then, we did see it not just on any one duration we saw across the board, that's where we see the impact -- happening from sort of what's going on in the market. I will tell you, I haven't seen the up or down notably because of the economy since then. COVID deterioration across the board in at both Glenn and I pointed out was that our average base amount -- on the ISP side, we're not seeing higher redemptions. So all the -- in an intact is the economy was really deteriorating our business.

Glenn Williams

Yes. I would echo Alison's comments. As we look at sales, we really -- we would expect to see that in -- we're not seeing it in smaller sales size is staying very consistent, continuing to grow. And anything specific in the number of sales, and that could be a balance in the positive good sentiment of the importance of protecting family and so forth.

We expected a tell you, we've talked about that in previous quarters that we'd expect to get some positive benefit from that just kind of a stale made against on sales, and it's kind of holding in place. So it's a lot of there, a lot of supposition but at the same time, the net results is we're pleased with where we are in this environment, kind of regardless of what's causing it exactly. We feel good about where we are.

And to the previous question, if we can hang on until things turn around, then sometimes we state across some of the to a positive footing accelerate our growth from here.

Ryan Krueger

I guess if I'm remembering correctly in the -- in prior session, in the early 2000s. For example, I don't believe you saw much of an impact on persistency in that period.

Glenn Williams

Not in that period. As Alison said, it's just only been in the most severe both severe and extended, I would say. .

Operator

[Operator Instructions] Our next question comes from Jeff Schmitt from William Blair. Jeff, your line is now open. Please go ahead.

Jeff Schmitt

On the non-COVID claims trends, I think Alison said, they're about $5 million favorable versus historical levels. Is there potential for that trend to continue for separate users from kind of a change in mix? I mean, do you think you could have pulled some mortality for and maybe it will be light for the next few years?

Alison Rand

And one quarter in, I'm reluctant to say there's a trend or a change in the feature. I will say -- obviously have listened to what others in the state have said specifically some of the reinsurers like We've spoken to some of our other reinsurers. And there has definitely been an improvement that they've all deliver me some feel that this could actually be something that's positive for us.

Again, we're keeping an eye on it. We're not going to automatically assume -- with us, but we are seeing the indicators, especially given what other people in the space have been saying publicly as well.

The one thing I'll point out is sort of an usual amount of it was in Canada. So that piece of it, I do speculate it may be more of what we would call regular volatility, but that only makes up about half of what we saw. So there is definitely some upside there. We are just waiting to see what develops before we say. In fact, we actually believe mortality improvement is here.

Jeff Schmitt

In the ISP business, net flows were close to 4% in the quarter. I think well in 2020 and now begin after one of the toughest first half is in the stock market in a long time. Could you maybe talk to the industry?

Glenn Williams

I mentioned in my prepared remarks, Jeff, the -- we do see a stickier set of assets, we believe, in the industry -- a little hard to draw a beat on it because the comparisons are imperfect, the reporting on the data is -- our long-term systematic investment in taking a impacted by trying to time the market and so forth, serves us well, serves our clients well.

And so we believe that approach, the advice that we give, the client's long-term view because return is generally long term for most clients, all plays in our favor and reduces our redemption rates compared to the industry. And so that's probably the main something that you can see coming through in the numbers this quarter.

Jeff Schmitt

Okay. Great. On mortgage business, is there a cost structure there that's up the contract I'm just kind of a 50% decline in mortgage volume. Is that driving losses in that business now?

Glenn Williams

No, our infrastructure around our mortgage business is not huge at this point. And we do believe that there's a better day out there ahead of us, which is why I made the comments. We're continuing to pursue licenses in additional states and also that we're in position for fast growth. But we don't have a tremendous amount of infrastructure built around that. So there's not a significant challenge there expense-wise.

Operator

Next question is from Daniel Bergman of Jefferies. Daniel, your line is now open. Please go ahead.

Daniel Bergman

So thank you for the detail -- I wanted to see if there's any more color you could get compared to your prior expectations and kind of what you saw in the first quarter that I think the DAC amortization ratio came in a little bit above the guidance you had previously given.

And just given this trend, coupled with pressure from inflation or recession, just how are you thinking about the risk that persistency could continue to worsen ahead instead of stabilizing our current levels? Any additional thoughts on that would be great.

Alison Rand

Yes. And again, it's interesting to watch. As I said in my prepared remakes, seasonality in the numbers. So putting that aside and our -- we've had set in the business because of COVID, that it's hard to actually isolate what's causing any trend or steadily, if you will, something will normalize.

I think -- the first 2 duration, we never had any doubt that some of the business we were selling during the COVID, the height of the pandemic was the surprise that those particular blocks are not performing as well as perhaps pre-pandemic mark. But I do think the fact that we're seeing everything else still come in favorable is a positive notion about where it will land and stabilize.

Again, we're not necessarily saying we need to see any improvement from what it looked like pre-pandemic because we actually think where we were pre-pandemic was very strong. We're putting everything in the context of can we get back to that level of consistency, profitability, et cetera. And as of now, we believe we still are on that path.

Daniel Bergman

SP1 Got it. That's very helpful. And then maybe switching gears, just to follow up on your prepared remarks about the convention and the message you delivered there. I just wanted to see if there's any additional color you could provide on the event and whether there are any specific incentives or initiatives you rolled out? I think you might have mentioned the recruiting incentives, is just any way to help us think about how the conference could affect near-term trends or third quarter results in terms of recruiting our product sales would be great.

Glenn Williams

Big event post COVID. And as we said, we did see some challenge with the crowd size. Also, we're very pleased with almost 35,000 in attendance. It was down a little bit from 2019 for the obvious reasons. There was no surprise there. I think if we that the desire for our -- we said kind of let's look to the future instead of looking back on the rough path we've all been down as the society for the last few years. It was very refreshing.

It was very healthy. We talked about the importance of our goals of growing our sales force because that enables us to both impact more families positively and create more success for our sales leaders themselves. And so that was the focus of the event is that we need to be bigger to reach a larger market and to create more success for all constituencies of Primerica.

And that message was not only received well, it was jointly carried by the sales force speakers. The majority of speakers of that have been a lead us to the sales force in addition to Peter and me and Julie and other home office leaders and we were all only shared with the sales force. .

As we do, we did -- as normally, we did introduce some pruning discounts or the cost of -- the licensing fee, also some leadership events, as we call our contest -- these days, additional credit and restarts of our contest of people a fresh start. Those were very well received. And thus far, we're seeing a lot of positive activity since the convention.

And so as I said, we're expecting extraordinarily strong -- in addition to the increased optimism you have on going the size of the sales force. So we counted as a very successful event.

Operator

At this time, we currently have no further questions. Therefore, this concludes today's call. You may now disconnect your lines and a lovely rest of your day.

Tue, 09 Aug 2022 06:27:00 -0500 en text/html https://seekingalpha.com/article/4532102-primerica-inc-pri-ceo-glenn-williams-on-q2-2022-results-earnings-call-transcript
Killexams : Sport For Good Playbook: A how-to guide for brands looking to make an impact through sport

Last year SportsPro and Laureus teamed up to launch the Laureus Sport For Good Index, an annual list of the brands that are leading the way in delivering positive social or ecological impact through sport. The purpose of the Index is to shine a light on those organisations that are having a meaningful impact, celebrate their successes, and provide compelling evidence for the role that sport can play in driving sustainable change.

But the Index itself was only the start. In year two, as we invite brands to nominate themselves for inclusion and to celebrate the impact they are making, our aim is to go one step further by providing actionable insights and real-world case studies that will equip companies of all kinds with an essential toolkit as they embark on their sport for good journeys.

To that end SportsPro and Laureus, with the support of presenting partner Salesforce, are collaborating to produce an exclusive content series outlining how brands can create and implement a fit-for-purpose sports sustainability strategy, drawing on best practice and learnings from the inaugural Laureus Sport For Good Index cohort.

Running until the release of this year’s index in November, the five-part series will serve as a reference point for any brand looking to ensure their efforts in sports sustainability are financially viable, champion a clear and compelling message, inspire and mobilise communities, and are measured and reported frequently and transparently.

So where to begin? What must brands consider from the outset? And what are the critical ingredients for a successful sports sustainability strategy?

Start with materiality

Every good business should know its values and its purpose. A clear understanding of why you exist is fundamental to identifying what causes are material to your brand, and what you can do to support them.

When devising a sports sustainability strategy from scratch, the guiding principles that constitute your company’s core mission and belief system are a good place to start. From there it is critical to identify which sports are directly relevant to both your business and your brand ethos.

Water conservation is a natural fit for beverage companies, for example. For them, water sports such as sailing and surfing are obvious candidates for investment, but other disciplines where a lot of water is consumed by participants, such as endurance and mass participation sports, might also be considered. Another approach could be to partner with organisations in resource-intensive sports like golf and soccer that rely on vast amounts of water for course and pitch maintenance.

“There’s lots of ways that you can play that out in a few different sports,” says Aileen McManamon, the founder and managing partner of 5T Sports Group. “What’s material to your business? What would consumers expect you to be working on? Or what would your business partners expect you to be working on?”

Ultimately, the objective is to avoid leaving people scratching their heads. Authentic alignment is critical to ensure the messaging is clear and every stakeholder understands and embraces your intentions.

As such, clarity of objective is vital. What is the social impact you are seeking to achieve? What are the problems you want to solve? How are you delivering against that brief and is progress measurable? This is the fundamental difference between empty claims and tangible results.

One shining example among the inaugural Laureus Sport For Good Index cohort is Beko, whose Eat Like A Pro campaign has been hailed for its simplicity and effectiveness. First rolled out in partnership with the Barca Foundation at a time when the Turkish home appliance brand was the main shirt sponsor of FC Barcelona, the campaign aims to promote healthy eating and combat childhood obesity by teaching kids how they can eat nutritious diets like their sports star heroes. To date, the programme has raised millions of dollars for Unicef programmes across the globe, reaching hundreds of thousands of children.

Healthy eating is an obvious cause to support for a brand that manufactures kitchen appliances, but for some brands the notion of materiality may not be so clear cut. Companies that operate across borders might also find that what constitutes materiality differs by geography.

To use the beverage brand example, major producers have sprawling international supply chains, with the various ingredients used in their products sourced from different markets. While an environmental programme, such as a water conservation or biodiversity project, might resonate in a country where a brewing company operates a major bottling plant and therefore uses lots of energy, in another market where its grains are grown, financial support for programmes to end food poverty could prove far more impactful.

In that respect, the most logical local partner is likely to be different in each market. Yet while on-the-ground activities within local markets might vary, the overarching message should remain consistent with the overall brand ethos and objectives.

Ultimately brands can credibly support multiple causes, provided the end goal is the same. After all, being responsible with resources, whatever form they take, is critical for long-term sustainability, as is ensuring the welfare of workers and the local population.

Take a holistic ESG view

Corporate investments in sports sustainability and social purpose have evolved considerably over many years. Following the industrial revolution, when significant wealth began to shift towards corporations, such investments essentially fell under the umbrella of philanthropy. Back then, money was simply given away to good causes as charitable donations.

Over time, corporate social responsibility (CSR) became more of a focus, with philanthropic efforts becoming more expected within society but still seen as discretionary. Many companies formed separate foundations and legal entities to oversee CSR investments and activities, with the idea being that doing good was good for business.

Today, that line of thinking has developed further alongside wider societal shifts. Brands nowadays define and approach sustainability in myriad ways, but most now realise that prioritising environmental, social and governance (ESG) factors is essential for long-term growth and prosperity.

As such, some have come to view their purpose investments in sport as branding or marketing initiatives that are part of broader promotional campaigns and corporate communications. Others utilise them to boost employee satisfaction or community engagement, or as a financial reporting line. Increasingly, major brands are starting to see such investments as all of the above.

Whatever the approach, purpose-driven activities should align with a company’s overarching ESG objectives. Investments should be based on more than just being good corporate citizens – they must positively impact the bottom line and help drive better business performance.

“Now this evolution means that ESG is infused in the company strategy,” explains McManamon, who has advised many major brands on their sustainability programmes, including prominent beverage and oil and gas producers. “It is part of the product team, it is part of the human resources team, it’s part of the financial reporting team for sure because that’s now a requirement. It is living everywhere and infused everywhere.”

Does our business model bring others along? That’s really your own starting point in terms of getting your house in order.

That strategic shift mirrors the modern-day trend away from shareholder capitalism towards stakeholder capitalism, whereby companies are not only looking out for their shareholders but also whoever and whatever their brand touches, either directly or indirectly. It is for that reason that ESG has come to be defined as ‘an economic and moral imperative to take better care of people and the planet’.

“You do need to sit down internally and say, ‘what is our ESG strategy in terms of the triple bottom line: the people, planet and, in my case, I refer to this now as prosperity in terms of shared prosperity,” says McManamon. “Does our business model bring others along? That’s really your own starting point in terms of getting your house in order.

“How are we treating our people or the people that we impact, that we sell to, or that we buy from? How are we treating resources? How are we acting in our ecosystem of the economic market, not the financial market but the economic market? Are we providing true value?”

Perhaps the most celebrated champion of this ESG-led approach is Patagonia, which featured among 29 brands in the inaugural Laureus Sport For Good Index. By taking a clear stance on a range of social, political and environmental issues, and publicising its efforts frequently and transparently, the outdoor apparel and equipment brand has clearly demonstrated its commitment to ethical business practices over the course of its 50-year lifespan.

That, in turn, has fuelled the perception among consumers and employees that Patagonia exists solely to make a positive impact, boosting the company’s public image and performance against certain ESG metrics while ultimately driving sales.

Another, far younger brand championing the same approach is Hylo Athletics, a running footwear manufacturer which also featured in last year’s Laureus Sport For Good Index. Co-founded by former soccer player Michael Doughty, the three-year-old company trumpets its raison d’etre – to protect the future of the planet – at every opportunity.

Notably, a lengthy section titled ‘Impact’ is positioned front and centre on the retailer’s website, detailing all facets of its overarching commitment to environmental sustainability. What’s more, its guiding principles are articulated openly and at length in the company’s Hylo for Planet document, which sets out the impact framework upon which the brand is built and acts as a guideline to all employees and business partners by setting a clear direction and goals.

“We realised quite early on that not any one aspect of sustainability is the right approach or the silver bullet to alleviating environmental impact,” explains Doughty. “The reality is that all products have an impact – and that’s the first misnomer of this space. You know, the word gets banded around a lot, but what does that actually mean?”

To help answer that question, Doughty says he and his fellow co-founder Jacob Green leaned on the advice of two external consultants – one who helped conduct a life cycle assessment (LCA) of Hylo’s products, and another who supported on devising their overarching strategy whilst developing their own understanding of the issues at hand.

“What we realised was that we needed a holistic strategy because it’s so nuanced,” Doughty adds. “We quickly moved away from the word sustainability for that very reason and focused ourselves on impact. Because impact is much more tangible, much more quantifiable, and we want to drive that objectivity into our reasoning.

“Impact allows us to really understand things better and once you understand it, you can Excellerate it.”

Align your purpose with global standards and targets

To be truly effective, ESG goals must be connected across departments and tied to strategic outcomes. To achieve them, each team should be empowered and incentivised to contribute towards the overall goal.

Your sports sponsorship and marketing departments, for example, will need to keep ESG priorities in mind as they negotiate with prospective partners and plot their activities. This thinking can manifest in myriad ways. If your company’s ESG objective is to transition to a low-carbon future, for instance, one step towards that goal could involve subsidising the cost of public transport for match-going fans. Similarly, if improving gender equality and diversity is a strategic priority for your business, a logical investment would be to work with a sporting foundation to administer girls’ health and education programmes.

When it comes to goal setting, a good starting point is the UN’s 17 Sustainable Development Goals (SDGs), which were set out by 193 governments in 2015 and are intended as a ‘blueprint to achieve a better and more sustainable future for all’.

McManamon says that, in her experience, most brands are prioritising at least six of those goals. Laureus Sport For Good Index honouree Nike, for example, has identified half a dozen areas where it has the biggest potential to contribute to the SDGs, given the nature and scale of its business. These include good health and wellbeing; gender equality; decent work and economic growth; responsible consumption and production; climate action; and partnerships for the goals.

“At the end of the day, everyone needs to be looking at these overarching goals that have been identified,” says McManamon. “And the other good news is that, for a lot of these sectors, that work has been done by an international association or a UN working group of people in that sector who have said, ‘OK, we’ve made a roadmap and this is what you should be doing’.”

Whichever goals you decide to prioritise, it is important to benchmark yourself against international standards and to back up any statements or pledges with data and certifications. There are countless international rankings, independent ratings and indices for measuring sustainability efforts and corporate performance against ESG-related metrics. While many are industry specific, some are applicable across sectors, such as ISO 14001, the Carbon Disclosure Project, and the Bloomberg Gender-Equality Index (GEI).

Formal certification of your sustainability credentials need not be an immediate strategic focus, but objective recognition from these types of independent bodies certainly helps build credibility and accountability.

Hylo Athletics is a case in point. Doughty explains that the company never set out to secure and wear certifications like badges of honour, but over time such recognition – including that of the Laureus Sport For Good Index – has come to play a greater role in achieving its strategic aims and validating its core mission.

“It’s quite easy to think that you have all the answers and solutions when you are trying to create something, because we all have our lens and how we see the world,” says Doughty. “But by having independent third parties come in and do some analysis on you, or by signing up to a mutual goal, you’re getting a sense-check on what your objective should look like and how well you’re performing.

“That objectivity piece is massive for us. Who am I to say whether we’re successful in our impact work? I’m too biased. We need that independent accreditation.”

If we were to take one shortcut here that quickly leads to another over there, then we’ve ended up unravelling the very premise of why we exist.

Now a certified B Corp, Hylo became a member of the Sustainable Apparel Coalition (SAC), an alliance of sustainable producers in the consumer goods industry, in 2021. Among other things, membership of the SAC commits the brand to ensuring compliance and minimum standards throughout its supply chain in areas like labour rights, worker wellbeing and environmental impact.

Doughty accepts that any commitment to being more ethical and sustainable generally comes with associated costs, pointing to Hylo’s use of sea rather than air freight as one example. But he’s convinced that such commitments will only pay off both for the planet and the company in the long run.

“These types of commitments that we make sometimes create new challenges for us,” he continues. “But if we were to take one shortcut here that quickly leads to another over there, then we’ve ended up unravelling the very premise of why we exist.

“Ultimately, this global challenge we’ve got of navigating climate change isn’t solely going to be delivered by Hylo. It’s going to be a collaborative problem-solving approach where we share, educate each other, sign up to things where we can get better data, get better information and make better decisions.

“If we build a really successful business but ultimately the world is in a worse place from an environmental perspective, the mission of Hylo is not complete and a bit irrelevant, really.”


Sport for good 101: The dos and don’ts of an effective strategy

Don’t try to win championships in your rookie season.
Proclaiming lofty goals is one thing, but no sports team would justifiably expect to win a league championship with a team full of rookies. Set ambitious yet realistic targets, track progress constantly and be prepared to fall short from time to time.

Don’t try to fix every problem.
Sustainability need not be a zero-sum game. Prioritising environmentalism does not mean your brand is not supportive of social issues like improving racial justice or boosting diversity, equality and inclusion in the workplace. Pick your battles wisely but never apologise for prioritising one cause over another.

Do your due diligence.
Find business partners who are making sustainability a priority, reflect your values, have internal workforces and leadership teams that live by those values, and who are transparently reporting their efforts to independent auditors. Mitigate risk by scrutinising prospective partners as thoroughly as possible to ensure they’re on the right track, preferably one that is adjacent to yours, then do everything within your power to hold them to account.

Don’t be afraid to seek outside help.
It is highly likely that every company setting out on their sustainability journey will require some outside help to reach their end goals. Experts in the space can help devise and hone the overarching strategy in line with broader business objectives, identify ways of overcoming internal challenges and shortcomings, and ensure structures and processes are in place for effective delivery.

Look to companies in your sector for inspiration.
What works in another sector might not work in yours, while the expected timeframes for achieving certain ESG-related goals will be different in other industries. For example, it might not be unreasonable for a financial institution to achieve net-zero status by 2025, but for oil and gas companies that timeframe simply isn’t feasible. Benchmark yourself against your peers, but always measure against international standards.

Don’t silo your sustainability efforts.
Brands don’t necessarily need an employee with sustainability in their job title to meet their objectives. As with any ESG goal, accountability can and should sit across multiple departments, but ideally there would be people within the organisation to provide oversight and check and challenge every proposal.

Find the right mix of partner organisations and ambassadors.
Credible messengers exist right across the sporting ecosystem. Teams, leagues, governing bodies, athletes, media companies, foundations: there are countless entities and individuals who can help amplify your brand message and implement your campaigns authentically. The ideal mix of partners will depend on your company footprint and brand objectives.

Don’t claim to have everything figured out.
No brand is perfect and there is no silver bullet when it comes to sustainability. Whatever strategy is settled upon at the start should remain subject to periodic review. Revisions will invariably be made as priorities change and new challenges arise. So long as you stay true to your values and your materiality – the immutable ‘why’ that governs everything you do – people will embrace your efforts in the right spirit and won’t be left scratching their heads.


Useful resources

The United Nations’ 17 Sustainable Development Goals – https://sdgs.un.org/goals

Sport x SDGs Index (5T Sports Group) – https://5tsports.com/resources/

B-Corp Accreditation – https://www.bcorporation.net/en-us/

Green Sports Alliance – https://greensportsalliance.org/

Further reading

How your company can advance each of the SDGs (United Nations Global Impact) – https://www.unglobalcompact.org/sdgs/17-global-goals

What is ESG and why is it important? (ESG | The Report) – https://www.esgthereport.com/what-is-esg-and-why-is-it-important/

Five ways that ESG creates value (McKinsey Quarterly) – http://dln.jaipuria.ac.in:8080/jspui/bitstream/123456789/2319/1/Five-ways-that-ESG-creates-value.pdf

Sustainability Marketing: How to Effectively Speak Greening in the Sport Industry (Sheila Nguyen) – https://www.taylorfrancis.com/chapters/edit/10.4324/9781315881836-13/sustainability-marketing-sheila-nguyen

Measuring Stakeholder Capitalism: Towards Common Metrics and Consistent Reporting of Sustainable Value Creation (World Economic Forum) – https://www3.weforum.org/docs/WEF_IBC_Measuring_Stakeholder_Capitalism_Report_2020.pdf

Employees and sustainability: the role of incentives (Journal of Managerial Psychology) – https://www.emerald.com/insight/content/doi/10.1108/JMP-09-2014-0285/full/pdf?title=employees-and-sustainability-the-role-of-incentives


This is the first instalment of a five-part series outlining how brands can create and implement a fit-for-purpose sports sustainability strategy. The next four parts will focus on the following:

  • Rationalise – how to ensure your strategy is financial viable
  • Communicate – how to amplify a clear and compelling message
  • Mobilise – how to inspire and activate your community
  • Report – how to measure and report impact against objectives
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Killexams : 60+ Free and Affordable Things To Do In San Francisco, California No result found, try new keyword!If you like nature, stunning architecture, shopping, museums, divey/hipster bars, and exceptional food in a city with a laid back vibe, San Francisco is a must. There’s so much to see and do within 49 ... Tue, 26 Jul 2022 02:44:40 -0500 en-us text/html https://www.msn.com/en-us/travel/tripideas/60-free-and-affordable-things-to-do-in-san-francisco-california/ar-AAZZteq Killexams : Modelit Celebrates Its 10th Anniversary

SEATTLE – August 1, 2022 – (Newswire.com)

Modelit, a top-notch Salesforce partner, celebrates its 10th anniversary of offering top-quality implementation and development services to its clients. 

“It’s been an amazing journey. It’s been full of experiences, it’s been full of learning, and most importantly, it’s been great getting to know so many talented people in the Salesforce ecosystem along the way. I want to thank our team for their hard work and commitment, and our clients and partners for the trust they put in us. We can’t wait to see what we achieve in the next 10 years!”  -Diego Febles, Co-Founder

A Look Back

When the company began in 2012, Modelit consisted of only three team members. Since then, it has blossomed into the successful company that it is today. Over the years, Modelit has achieved such accomplishments as becoming a Salesforce Ridge Partner, becoming a PDO Partner, completing over 100 successful projects, and obtaining numerous certifications and specializations for its team members. Modelit is proud to have two Salesforce MVPs as part of its team, a privilege for a company of our scale, of which one even had the opportunity to speak publicly at the annual Dreamforce event. Now, with a team of more than 40 professionals, Modelit continues to thrive as a trusted Salesforce partner. 

Company Values

Modelit’s purpose has always been to empower organizations and individuals with Salesforce and technology, so that they can grow and thrive. The company takes pride in its core values, which are principal to each and every solution that it delivers. A team-oriented and forward-thinking approach allows experts to show up for clients time and again, constantly increasing the value of our customers’ Salesforce investments. Building trust with clients, remaining committed to project outcomes, and maintaining strong communication throughout are crucial to the reliability that Modelit has provided for its clients over the last 10 years. 

“Putting people first played a very important role in achieving this success and creating an atmosphere of respect and trust. When there are people who are passionate about what they do, working in a good environment where sharing their knowledge is encouraged and motivated, working as a team towards the same goal is the key to constantly learning, improving and delivering quality products to customers. I would not trade my role at Modelit for anything.”  -Pablo Vigil, Team Lead, Sr. Software Developer
 

Forging Ahead

Modelit looks forward to continuing its journey, focused on becoming a top Summit Partner. The company will continue to strive for a cohesive team of Salesforce-certified members, hoping to be recognized as the top Salesforce consulting and development company in the Americas. The future looks bright for Modelit.

As a way of commemorating these last 10 years and celebrating what lies ahead, Modelit will be hosting a giveaway on its website. Keeping in line with the company’s core values, the first 100 new subscribers will receive a copy of one of our top three recommended books.

About Modelit

Modelit is a highly rated Salesforce partner built by certified and experienced experts offering services in custom development, CRM configurations, and AppExchange app development. The company has offices in the U.S. and Latin America, operating within similar time zones as its customers and collaborating in real-time. Modelit is dedicated to helping its clients maximize their Salesforce investments by providing an aligned customer experience, faster time-to-market, and lower total cost of engagement. 

For more information, please contact [email protected] or visit www.modelit.xyz.

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Modelit Celebrates Its 10th Anniversary

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Killexams : Revature and Salesforce expand partnership to build a talent pipeline trained and certified in Salesforce B2B Commerce Cloud

TMCNet: Revature and Salesforce expand partnership to build a talent pipeline trained and certified in Salesforce B2B Commerce Cloud

RESTON, Va., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Revature, the largest employer of entry-level technology talent in the United States, and Salesforce, the global leader in Customer Relationship Management (CRM), today announced a program to train and certify emerging tech talent in Commerce Cloud, a cloud-first solution that allows brands to deliver exceptional digital buying experiences for B2B buyers and rapidly adapt to market dynamics and customer needs.

Revature and Salesforce first partnered in 2020 to build a talent pipeline of certified Salesforce Developers, Salesforce Administrators and Salesforce Consultants to power the Salesforce economy. Today’s announcement expands upon this mission to meet the growing demand for tech talent trained and certified in Salesforce Commerce Cloud using Revature’s industry-leading approach. The program will be rolled out in phases, with the first phase focusing on the B2B Commerce solution and later expanding to other in-demand areas such as Order Management and B2C Commerce.

“At Revature, we train entry-level talent on the most in-demand skills and certifications, with real-world applications on their resume before they ever set foot in a client’s office,” said Anurag Gupta, SVP, Head of Product Partnerships at Revature. “This is exactly what we’ve partnered with Salesforce to accomplish. Online retailing and ecommerce has taken the world by storm leading to a significant demand for technology talent and through this partnership, we are connecting talent with opportunity.”

As a Salesforce Trailhead Authorized Training Partner and Salesforce Talent Alliance Workforce Development Partner, Revature will leverage its best-in-class hire-train-deploy model to recruit, train, certify and place new graduates from its network of 700+ university and college partners. Revature is now the first Salesforce B2B Commerce Cloud authorized Workforce Development and Training Partner.

“Ecommerce has revolutionized the way our world operates, and businesses are increasingly turning to Salesforce B2B Commerce Cloud to help them navigate inherent B2B ecommerce challenges, generate more revenue, and lower costs,” said Don Lynch, SVP, Cloud Solution Alliances at Salesforce. “In expanding our partnership with Revature, we are giving our customers and partners access to proven Salesforce-ready talent to help them power these initiatives.”

To learn more about Revature’s training program for Salesforce B2B Commerce, click here.

About Revature
Revature is the largest employer of emerging technology talent in the U.S. and the talent development partner of choice for Fortune 500 companies, government organizations and top systems integrators. Since its founding, Revature has trained over 10,000 software engineers in 55 technical disciplines, recruited talent from 700 universities, and deployed them to blue chip companies throughout the U.S.

Revature’s mission is to create a pathway for qualified candidates from diverse experiences and educational backgrounds to reach their potential as technology professionals. Graduates of the Revature program work on innovative, challenging and rewarding software development projects across the United States. Revature has committed to training one million developers over the next decade.

Learn more at www.revature.com and follow @WeAreRevature on Twitter and LinkedIn.

About Salesforce
Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Salesforce applications should make their purchase decisions based upon features that are currently available. Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM." For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE.

Contact:
Emily Brown
REQ on behalf of Revature
[email protected]

 


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