WEBVTT NOTE This file was generated by Descript 00:00:00.480 --> 00:00:03.970 Pam: When we talk about digitization I don't think that people really 00:00:04.720 --> 00:00:06.850 understand is it a tactic for me? 00:00:06.850 --> 00:00:08.230 Is it a strategy for me? 00:00:08.230 --> 00:00:12.060 And at the end of the day, one of the biggest is really being able 00:00:12.070 --> 00:00:17.770 for a chemical company to associate a KPI to their digitization strategy 00:00:18.056 --> 00:00:22.406 . It sounds elementary, but we have to start there. 00:00:22.736 --> 00:00:26.616 And most people start with wanting to check the box of a digital strategy. 00:00:26.956 --> 00:00:29.186 But if we start with the end in mind of the problem that we're 00:00:29.186 --> 00:00:30.896 trying to solve and get the KPI. 00:00:31.816 --> 00:00:36.376 Then that digitization strategy is going to get legs. 00:00:45.418 --> 00:00:48.218 A key component of the modern world economy, the chemical 00:00:48.218 --> 00:00:51.758 industry delivers products and innovations to enhance everyday life. 00:00:52.278 --> 00:00:56.268 It is also an industry in transformation where chemical executives and 00:00:56.268 --> 00:00:59.898 workers are delivering growth in industry changing advancements while 00:00:59.898 --> 00:01:03.638 responding to pressures from investors, regulators and public opinion. 00:01:04.188 --> 00:01:07.128 Discover how leading companies are approaching these challenges 00:01:07.138 --> 00:01:08.738 here on The Chemical Show. 00:01:09.208 --> 00:01:12.548 Join Victoria Meyer, president of Progressio Global and 00:01:12.558 --> 00:01:13.978 host of The Chemical Show. 00:01:14.253 --> 00:01:18.453 As she speaks with executives across the industry and learns how they are leading 00:01:18.453 --> 00:01:24.033 their companies to grow, transform, and push industry boundaries on all frontiers. 00:01:24.373 --> 00:01:26.623 Here's your host, Victoria Meyer. 00:01:29.258 --> 00:01:30.758 Victoria: Hi, this is Victoria Meyer. 00:01:30.838 --> 00:01:33.998 Welcome back to The Chemical Show where Chemicals means Business. 00:01:34.648 --> 00:01:38.798 Today, I am speaking with Pam Walker, who is the Director and 00:01:38.798 --> 00:01:43.708 General Manager of Data Intelligence, and Insights at UL Solutions. 00:01:44.378 --> 00:01:48.498 Pam is an experienced business leader with over 20 years in the chemical industry. 00:01:48.898 --> 00:01:52.818 She's led digital transformation at leading companies, including Univar and 00:01:52.818 --> 00:01:55.738 Brentag before she joined UL Solutions. 00:01:55.878 --> 00:02:00.218 Pam and I have some parallel experiences in our careers, which we may explore 00:02:00.378 --> 00:02:04.388 really about bringing customers, commercial and digital together. 00:02:04.718 --> 00:02:09.248 And Pam was one of our panelists at the 2023 The Chemical Summit. 00:02:09.258 --> 00:02:13.638 So she got an opportunity to talk a little bit about digital then, and we are going 00:02:13.638 --> 00:02:15.268 to be diving deeper into that today. 00:02:15.318 --> 00:02:17.748 So Pam, welcome to The Chemical Show. 00:02:18.948 --> 00:02:20.738 Pam: Thank you and thank you so much for having me. 00:02:20.738 --> 00:02:22.938 I'm excited to talk with you today. 00:02:23.288 --> 00:02:24.638 Victoria: I'm really happy to have you here. 00:02:25.168 --> 00:02:26.638 Pam, what's your origin story? 00:02:26.918 --> 00:02:29.118 How did you even get interested in chemicals? 00:02:29.178 --> 00:02:33.918 And really you were an early adopter of digital solutions. 00:02:33.928 --> 00:02:35.348 So how did that come about? 00:02:36.618 --> 00:02:39.368 Pam: Yeah, it's you trip into the chemicals, right? 00:02:39.518 --> 00:02:42.798 Sometimes, but, I was talking to you about at the Summit, 00:02:42.798 --> 00:02:44.838 which, by the way, was awesome. 00:02:44.908 --> 00:02:46.128 I cannot wait for next year. 00:02:46.128 --> 00:02:49.078 It was thoroughly, thoroughly worth the time, so thank you. 00:02:49.368 --> 00:02:55.738 I started my journey and believe it or not, 1994 and chemical distribution 00:02:56.138 --> 00:03:02.788 and like we were talking about at the Summit, it was about 1999 when I went 00:03:02.878 --> 00:03:09.808 to a startup in 1999 was like the first chemical digital boom, if you will, 00:03:10.068 --> 00:03:10.428 Victoria: Yes. 00:03:11.058 --> 00:03:11.538 Pam: right? 00:03:11.548 --> 00:03:12.048 Do you remember? 00:03:12.048 --> 00:03:15.728 Victoria: I started working on digital in chemicals in 2000. 00:03:17.118 --> 00:03:20.438 . It's hard to believe that's over 20 years ago and it feels 00:03:20.438 --> 00:03:22.318 like not a lot has changed. 00:03:22.833 --> 00:03:23.593 Pam: Here's what's funny. 00:03:23.603 --> 00:03:29.173 No, it's not because in 99, you had all these companies pop up and I went 00:03:29.173 --> 00:03:33.953 to work for what was an e-commerce company , and obviously that was too 00:03:33.953 --> 00:03:38.123 early for that and it went belly up with the hundreds of other companies. 00:03:38.433 --> 00:03:41.373 , promising digitization of the chemical industry. 00:03:41.683 --> 00:03:46.393 But the funny thing is I then went back into chemical distribution and implemented 00:03:46.413 --> 00:03:50.583 digital solutions for the chemical distributor I worked for at the time. 00:03:51.023 --> 00:03:55.843 And the funny thing was going to each of these plants and telling 00:03:55.843 --> 00:03:59.733 people, Hey, I don't want you to go in your paper filing cabinet. 00:04:00.223 --> 00:04:02.833 I want you to go to your computer to do that. 00:04:03.073 --> 00:04:06.113 It was like, it was right. 00:04:06.563 --> 00:04:08.593 So then I fast forward in 2005. 00:04:08.593 --> 00:04:13.543 I went to another startup focused on material selection and discovery 00:04:13.553 --> 00:04:15.163 and then UL Solutions bought them. 00:04:15.173 --> 00:04:16.523 So boom, here I am. 00:04:16.778 --> 00:04:17.358 Victoria: Okay. 00:04:17.468 --> 00:04:18.138 That's awesome. 00:04:18.438 --> 00:04:22.868 And it's really cool that you've been able to blend big companies and startups as 00:04:22.868 --> 00:04:24.698 well, because that's a unique experience. 00:04:25.803 --> 00:04:26.403 Pam: Yes. 00:04:26.453 --> 00:04:26.733 Yeah. 00:04:26.733 --> 00:04:28.863 It's definitely unique and different. 00:04:28.863 --> 00:04:32.163 And, the really challenge and opportunity is bringing the startup 00:04:32.173 --> 00:04:37.043 vibe into the big company, which, which thankfully at UL solutions we have. 00:04:37.143 --> 00:04:37.513 Victoria: Great. 00:04:37.713 --> 00:04:41.153 So tell us a little bit about UL solutions, because I think people might 00:04:41.153 --> 00:04:45.253 be familiar at least with part of the company, but not all of the company. 00:04:45.253 --> 00:04:46.643 I know you've got quite a legacy. 00:04:47.223 --> 00:04:48.723 Pam: Yes, it is quite large. 00:04:48.723 --> 00:04:52.953 Most people know us from the little circle UL on your appliances 00:04:53.763 --> 00:04:55.813 in your kitchen and everywhere. 00:04:56.083 --> 00:05:00.483 And while, that's still true, but the definition of safety 00:05:00.483 --> 00:05:02.363 involves since our inception. 00:05:02.593 --> 00:05:07.953 130 years ago and, you have solutions to global leader and applied safety science 00:05:07.953 --> 00:05:12.843 and working for the safer world is the mission and we do it through testing 00:05:12.843 --> 00:05:14.703 inspection certification services. 00:05:15.003 --> 00:05:19.703 But that's now coupled with software and advisory offerings and supporting 00:05:19.703 --> 00:05:23.953 the customers innovation, helping them launch new products and services 00:05:23.953 --> 00:05:27.263 sustainably, and responsibly. 00:05:27.263 --> 00:05:30.883 And those are the really the key things when you navigate these global 00:05:30.883 --> 00:05:33.103 markets and complex supply chains. 00:05:33.538 --> 00:05:33.828 Victoria: Yeah. 00:05:33.838 --> 00:05:35.478 How does that connect to chemicals? 00:05:35.528 --> 00:05:40.638 Because again, I think of UL, as you say, as the little stamp on the back of 00:05:40.648 --> 00:05:43.728 electronics, your toaster, other items. 00:05:44.318 --> 00:05:46.948 Where does the chemical connection come in? 00:05:48.033 --> 00:05:49.623 Pam: As chemicals are in everything. 00:05:49.623 --> 00:05:51.553 We're a walking chemical in our bodies. 00:05:51.953 --> 00:05:57.953 You would the way that safety has evolved is when you have all the regulations 00:05:57.953 --> 00:06:01.693 and retailer requirements and everything and how we get our products to market 00:06:01.993 --> 00:06:06.683 and the more that society itself cares about what we're ingesting and how we're 00:06:06.683 --> 00:06:13.063 throwing away, our global footprint of safety, sustainability and responsibility 00:06:13.393 --> 00:06:16.403 really encompasses the chemical industry. 00:06:16.563 --> 00:06:20.696 Very nicely, very complimentary with the appliances and the way you had 00:06:20.696 --> 00:06:23.053 thought about UL solutions before. 00:06:24.188 --> 00:06:24.618 Victoria: Makes sense. 00:06:24.938 --> 00:06:25.238 You're right. 00:06:25.258 --> 00:06:26.528 Chemicals are all around us. 00:06:26.868 --> 00:06:28.018 Most people don't know. 00:06:28.018 --> 00:06:31.178 Most people working in the chemical industry realize it, but there's still a 00:06:31.228 --> 00:06:33.328 a journey of discovery that we're all on. 00:06:33.938 --> 00:06:39.288 So speaking about the journey of discovery, we're in the decade 00:06:39.318 --> 00:06:41.228 of digitization and AI, right? 00:06:41.228 --> 00:06:44.438 With tremendous growth and investment, you cannot turn on the 00:06:44.438 --> 00:06:48.138 news, look at your phones, turn on your computer without hearing 00:06:48.138 --> 00:06:50.518 something about digitization and AI. 00:06:51.348 --> 00:06:55.868 And yet we really still have a very long way to go, particularly when we think 00:06:55.878 --> 00:06:57.728 about chemicals and materials companies. 00:06:58.408 --> 00:07:02.868 So what's the biggest unmet need that you see currently 00:07:03.078 --> 00:07:04.698 in this space of digitization? 00:07:05.753 --> 00:07:06.103 Pam: Wow. 00:07:06.323 --> 00:07:06.493 That's. 00:07:07.773 --> 00:07:11.153 That's a big question, and when I think about it myself, I'm going to 00:07:11.153 --> 00:07:16.423 chunk it out into three really big things when we talk about digitization 00:07:16.473 --> 00:07:21.153 I don't think that people really understand is it a tactic for me? 00:07:21.153 --> 00:07:22.533 Is it a strategy for me? 00:07:22.533 --> 00:07:26.793 And at the end of the day, one of the three biggest is really being able 00:07:26.803 --> 00:07:32.503 for a chemical company to associate a KPI to their digitization strategy 00:07:32.923 --> 00:07:34.573 . Because I know it's shocking 00:07:34.598 --> 00:07:35.868 Victoria: wouldn't think about that, but okay. 00:07:36.933 --> 00:07:41.283 Pam: it sounds elementary, but we have to start there. 00:07:41.613 --> 00:07:45.493 And most people start with wanting to check the box of a digital strategy. 00:07:45.833 --> 00:07:48.063 But if we start with the end in mind of the problem that we're 00:07:48.063 --> 00:07:49.773 trying to solve and get the KPI. 00:07:50.693 --> 00:07:55.253 Then that digitization strategy is going to get legs. 00:07:55.363 --> 00:08:01.843 But the second thing that we're facing is the unmet need for the right kind of data. 00:08:02.133 --> 00:08:03.273 We talked to both. 00:08:03.888 --> 00:08:04.678 All sides, right? 00:08:04.678 --> 00:08:09.888 We talked to the product manufacturers the suppliers of raw materials, 00:08:09.898 --> 00:08:14.268 the distributors, no matter who you talk to the need for sustainability 00:08:14.428 --> 00:08:18.778 and certification data has been absent from many digital solutions. 00:08:18.978 --> 00:08:24.968 And you got to have this to, develop products faster to avoid reformulation 00:08:25.228 --> 00:08:28.578 and those things affect your bottom line, which take me up to my first 00:08:28.598 --> 00:08:30.648 thing is you need a KPI right? 00:08:30.648 --> 00:08:35.728 So that is all goes and then, the third unmet need is really 00:08:36.028 --> 00:08:40.088 being able to take the formulation and certification and regulatory 00:08:40.088 --> 00:08:43.718 info and really put it into your 00:08:44.608 --> 00:08:45.248 workflow. 00:08:45.668 --> 00:08:50.088 And there's a whole lot of data points and like, where we sit with UL solutions, 00:08:50.528 --> 00:08:54.838 we see it all because we have data that's like the prospector search engine for 00:08:54.838 --> 00:08:59.418 material data, then the regulatory data, then the certification data the carbon 00:08:59.418 --> 00:09:01.848 footprint data, corporate level, ESG data. 00:09:01.858 --> 00:09:07.238 We have a ton of robust information and all these things married together. 00:09:07.693 --> 00:09:12.253 Really helps to meet the unmet needs for companies to develop 00:09:12.253 --> 00:09:17.163 those safety, safe or sustainable products and associate that ROI. 00:09:17.603 --> 00:09:19.713 So it's an interesting, I don't want to say interesting, but it's 00:09:19.713 --> 00:09:21.043 a different perspective on it. 00:09:21.393 --> 00:09:25.083 And it sounds so elementary, but, when we're running so fast in the chemical 00:09:25.083 --> 00:09:30.043 industry to chase a shiny coin, if we just hang on a minute and really say 00:09:30.043 --> 00:09:33.633 what problem we're trying to solve, it's amazing how much things can get done. 00:09:33.913 --> 00:09:37.393 Victoria: And so I think that ties into this whole aspect of what's really 00:09:37.393 --> 00:09:41.093 holding companies and leaders back from embracing digital from making those 00:09:41.093 --> 00:09:45.423 investments, because certainly when I talk to companies, a lot of them 00:09:45.423 --> 00:09:47.473 are not making digital investments. 00:09:47.523 --> 00:09:51.603 Certainly the biggest ones are, or they're making components of investments, but a 00:09:51.603 --> 00:09:57.253 lot of leaders are having a really hard time embracing digital for their business. 00:09:57.583 --> 00:09:59.763 So we've all embraced it in our personal lives. 00:10:00.483 --> 00:10:03.533 Maybe there's a few holdouts but most of us embrace it in our personal 00:10:03.533 --> 00:10:08.543 lives, but what's really holding companies back from going digital? 00:10:09.543 --> 00:10:15.103 Pam: I think that sometimes it's a deer in headlight syndrome, is that what is 00:10:15.103 --> 00:10:17.063 going to be the best bet for my company? 00:10:17.573 --> 00:10:19.553 Am I going to get true or lie? 00:10:19.873 --> 00:10:21.673 Do I need to do this for table stakes? 00:10:22.093 --> 00:10:23.783 Do I need to do it for marketing? 00:10:23.953 --> 00:10:28.203 And so really identifying and I'll go back to what I said before. 00:10:28.523 --> 00:10:32.033 How does this help me achieve my revenue goals? 00:10:32.383 --> 00:10:34.543 How does it tie into my strategy? 00:10:34.743 --> 00:10:39.198 And how does it tie into better servicing my It's in the end that's 00:10:39.198 --> 00:10:43.038 all that matters is, the customer experience, which is going to lead to 00:10:43.038 --> 00:10:44.968 everything else being taken care of. 00:10:45.288 --> 00:10:51.758 So I think once companies start there and then understand how the digital 00:10:51.808 --> 00:10:57.198 tactics, if you will, can help to make their strategy a reality, then 00:10:57.208 --> 00:11:00.848 they could deliberately move and identify the best bet for them. 00:11:01.423 --> 00:11:01.873 Victoria: Makes sense. 00:11:02.183 --> 00:11:03.263 Do you have data on this? 00:11:03.283 --> 00:11:06.143 I guess my question is, we think about KPI, I think really about 00:11:06.633 --> 00:11:10.363 ROI, the return on investment in improving customer experience. 00:11:10.763 --> 00:11:13.593 Do you guys have any data points or have you seen anything out in the, 00:11:13.643 --> 00:11:18.733 maybe public press, public reports around what the benefits of the 00:11:18.733 --> 00:11:22.913 companies that are, embracing and taking digital to the next step, how 00:11:22.913 --> 00:11:26.983 they're outpacing their competitors or the results that they're achieving. 00:11:26.993 --> 00:11:28.063 Do you see anything around that? 00:11:29.508 --> 00:11:34.608 Pam: Just off the cuff, I have, what I would call proof points and how we've 00:11:34.608 --> 00:11:40.348 helped customers do it and I will say at a high level, if you think 00:11:40.348 --> 00:11:42.608 about someone developing a product. 00:11:42.738 --> 00:11:45.878 And when you develop a product, I always say this, I'm amazed 00:11:45.898 --> 00:11:47.078 anything gets on our shelf. 00:11:47.458 --> 00:11:49.308 You've got to understand the composition. 00:11:49.308 --> 00:11:52.078 You've got to understand if you can sell it and X, Y, Z market. 00:11:52.088 --> 00:11:56.238 You've got to understand if you can put it on the shelf at your major retailer. 00:11:56.238 --> 00:12:00.568 If I'm going and I'm doing material discovery, who am I going to select? 00:12:00.978 --> 00:12:05.048 Am I going to select the person or the company that I can extract 00:12:05.048 --> 00:12:06.838 that information from easily? 00:12:07.398 --> 00:12:09.788 Or am I going to select the one that I have to takes me 00:12:09.788 --> 00:12:11.048 more time to get all that? 00:12:11.058 --> 00:12:14.458 So it becomes a differentiation for sure. 00:12:14.688 --> 00:12:19.468 And that differentiation can be associated to to a KPI. 00:12:19.578 --> 00:12:20.308 Absolutely. 00:12:20.318 --> 00:12:26.418 When we talk about what our customers need, and I'll get specific is that. 00:12:27.538 --> 00:12:33.538 When you can relate it to a KPI and not a checkbox, most companies want to do what? 00:12:33.808 --> 00:12:35.708 Get products to market faster. 00:12:36.178 --> 00:12:37.738 That is a huge KPI. 00:12:38.408 --> 00:12:40.788 And so some customers have their own data. 00:12:40.798 --> 00:12:42.998 I got my data, right? 00:12:43.458 --> 00:12:46.268 Because I loaded it in their filing cabinet 25 years ago. 00:12:46.268 --> 00:12:47.078 I know they got data. 00:12:47.568 --> 00:12:50.038 But they have to marry that with. 00:12:50.653 --> 00:12:53.553 Data we have a UL Solutions to really streamline that process. 00:12:54.163 --> 00:12:57.993 And and I'll just be anecdotal here, but it's actually not anecdotal. 00:12:57.993 --> 00:13:01.773 It's I'm not going to give the company's name a specialty materials company. 00:13:02.513 --> 00:13:06.133 They had a manual process, and so they collected all these different 00:13:06.133 --> 00:13:09.503 kinds of data, product data, certification data, sustainability data. 00:13:09.823 --> 00:13:13.073 Manually, manually aggregated it. 00:13:13.193 --> 00:13:14.163 Now, this is true story. 00:13:14.203 --> 00:13:16.543 They manually uploaded it to their system. 00:13:16.543 --> 00:13:19.203 Hours and hours spent on this. 00:13:19.463 --> 00:13:22.783 And then data integrity by the time they did all this was questionable. 00:13:23.283 --> 00:13:28.533 So what we did is we leveraged like Prospector Data, Product IQ data, or 00:13:28.533 --> 00:13:33.893 regulatory data from Chem Advisor, all this, and we got an API and now we 00:13:33.903 --> 00:13:36.963 magically put it into their workflows 00:13:37.223 --> 00:13:38.923 for product research and development. 00:13:39.123 --> 00:13:44.023 This manual work saved the company $100,000 dollars, you know, in a 00:13:44.023 --> 00:13:45.983 year for just the main work for us.. 00:13:46.003 --> 00:13:49.583 So, Time savings, you can calculate and those are examples. 00:13:49.933 --> 00:13:57.563 Hardcore both from an external, you're going to be selected more favorably and an 00:13:57.573 --> 00:14:01.753 internal, you're going to get to product the market faster and reduce manual work. 00:14:02.148 --> 00:14:06.248 Victoria: Yeah, and I think that work efficiency becomes really critical. 00:14:06.528 --> 00:14:09.128 And a lot of this as well as, one of the things you touched on 00:14:09.158 --> 00:14:12.348 earlier was around sustainability and the sustainability data. 00:14:12.718 --> 00:14:17.318 And, I've had so many conversations in the past week about a sustainability 00:14:17.318 --> 00:14:22.128 reporting that companies are going through and the sustainability data that's needed 00:14:22.203 --> 00:14:26.453 as companies start to reformulate or just, reformulate sounds like 00:14:26.453 --> 00:14:30.073 a big word, but just to evaluate their formulations and figuring out, 00:14:30.273 --> 00:14:31.783 hey, what are their alternatives? 00:14:32.203 --> 00:14:38.393 Having the data that can be in the same format, easily understood and frankly, 00:14:38.393 --> 00:14:40.813 compared pretty quickly is critical. 00:14:41.718 --> 00:14:45.898 Pam: And it's getting more and more important with the increased focus on 00:14:45.898 --> 00:14:49.958 it, the increased, carbon footprint initiatives that are are out. 00:14:50.478 --> 00:14:54.278 Victoria: So we definitely see some business cases and certainly return on 00:14:54.278 --> 00:14:56.068 investment when we think about digital. 00:14:56.718 --> 00:14:59.688 There's a lot of options and it's certainly an investment. 00:14:59.738 --> 00:15:04.608 I think one of the big things and one of maybe the big challenges is 00:15:04.678 --> 00:15:08.348 the change business processes and behaviors that are required because 00:15:08.348 --> 00:15:09.998 we could put the best system in place. 00:15:10.378 --> 00:15:11.078 We all know this. 00:15:11.088 --> 00:15:15.368 It's been done over and over and over again, probably in the chemical industry, 00:15:15.368 --> 00:15:20.178 whether it be, starting with Lotus Notes and then well, Lotus Notes doesn't work 00:15:20.338 --> 00:15:21.518 and we're moving on to something else. 00:15:21.518 --> 00:15:23.898 And maybe it didn't work, but also maybe it's just that the people 00:15:23.898 --> 00:15:25.458 weren't using it very effectively. 00:15:25.508 --> 00:15:29.908 So you can put any system you want in place, but if, if the people. 00:15:30.238 --> 00:15:35.028 And, whether it be employees, customers, other business partners aren't 00:15:35.068 --> 00:15:41.278 embracing and changing their ways of working um, utilizing these digital 00:15:41.278 --> 00:15:45.098 processes then the investment feels like you're not getting that return. 00:15:45.538 --> 00:15:50.598 So how do you guys typically address that when you see and talk to people, how would 00:15:50.598 --> 00:15:54.608 you respond to that concern about the required, just human behavior changes? 00:15:55.228 --> 00:15:56.948 Pam: Change management is real, right? 00:15:56.958 --> 00:16:02.068 And the human behaviors are both internal and from your 00:16:02.078 --> 00:16:03.858 suppliers and your customers. 00:16:04.198 --> 00:16:06.178 And the 1st thing where we start is. 00:16:06.953 --> 00:16:13.653 This is a lot of investment in dollars and an effort sometime to resources 00:16:13.753 --> 00:16:15.643 to implement digital strategies. 00:16:16.003 --> 00:16:18.923 So you 1st need to make sure you pick the right partner. 00:16:19.123 --> 00:16:23.693 And there's so many as we said before, it's like 1999 all over again. 00:16:23.983 --> 00:16:26.423 There's a lot of startups popping up and. 00:16:26.698 --> 00:16:30.278 And new technology promising all these solutions. 00:16:30.758 --> 00:16:34.108 And so the 1st thing that companies want to look at is 00:16:34.158 --> 00:16:35.688 to work with a trusted partner. 00:16:35.908 --> 00:16:39.138 And that is 1st and foremost, how does that align to human behaviors? 00:16:39.408 --> 00:16:45.158 Well, a partner is going to have longevity and be with you along that journey 00:16:45.448 --> 00:16:50.308 and and know that they're going to be there 10 years from now, and not maybe. 00:16:50.953 --> 00:16:52.833 A flash in the pan, if you will. 00:16:53.173 --> 00:16:59.583 And when you look at human behaviors, to me, the most impactful thing is getting 00:16:59.583 --> 00:17:02.543 a solution that fits your business. 00:17:02.963 --> 00:17:09.693 And your business problem and not fitting that business into a solution. 00:17:09.713 --> 00:17:13.313 You don't want to go buy something and say, okay, we have it and we're going 00:17:13.313 --> 00:17:16.993 to shove it in there and hope it works because people are going to be going, 00:17:17.053 --> 00:17:19.353 oh my goodness, this is horrible, right? 00:17:19.353 --> 00:17:23.343 This is worse than I, I had before I'm going back to zoom 00:17:23.343 --> 00:17:25.653 or whatever, you had with that. 00:17:26.578 --> 00:17:31.998 So as long as it fits in with your business, then we find 00:17:32.008 --> 00:17:33.478 the human behaviors opening up. 00:17:33.488 --> 00:17:35.108 My job is so much easier. 00:17:35.278 --> 00:17:36.628 I can do so much more. 00:17:36.658 --> 00:17:39.668 I can make decisions faster and smarter. 00:17:40.058 --> 00:17:42.898 And so that really leads to adoption. 00:17:43.098 --> 00:17:46.868 And then that trusted partner along the way to ensure that they have your back. 00:17:47.148 --> 00:17:48.258 But one thing is. 00:17:48.868 --> 00:17:53.188 When you invest digitization, it is an inherent risk, right? 00:17:53.598 --> 00:17:55.978 But the risk of not doing it is bigger. 00:17:56.458 --> 00:18:00.308 And one of my favorite sayings is "Dig the well before you're thirsty." 00:18:00.598 --> 00:18:03.908 Because don't want to play and you want to be playing catch up in this at all. 00:18:04.408 --> 00:18:04.788 Victoria: Yeah. 00:18:04.828 --> 00:18:05.468 So that's great. 00:18:05.488 --> 00:18:08.348 So let's talk maybe a little bit about risk, which I know is our 00:18:08.588 --> 00:18:10.278 an off the books question here. 00:18:10.578 --> 00:18:13.878 What are the risks that people should be considering when you think about 00:18:13.998 --> 00:18:17.338 digital implementations of any variety? 00:18:17.858 --> 00:18:19.738 What risks come into play? 00:18:19.738 --> 00:18:22.958 Pam: I would say that first of all, as I said before, the risk 00:18:22.958 --> 00:18:27.618 of whatever solution not being supported over a long period of time. 00:18:27.678 --> 00:18:30.578 That's something that you have to consider for real. 00:18:30.978 --> 00:18:36.488 I think it's the risk of adoption and we talked about that, how to mitigate 00:18:36.538 --> 00:18:42.658 that a bit to make sure that it is solving a, a human problem that is 00:18:42.658 --> 00:18:47.038 going to help people do their business or do their job better or help your 00:18:47.038 --> 00:18:49.518 customers in doing business with you. 00:18:49.948 --> 00:18:53.838 And I think that the risk is in also the kind of information 00:18:53.838 --> 00:18:54.708 that you're bringing in. 00:18:54.718 --> 00:18:56.258 The risk is getting the right data. 00:18:56.743 --> 00:19:01.073 And making that data, turning it into action for you is truly important. 00:19:01.073 --> 00:19:04.703 Victoria: I think that, your point back to making sure that it's connected 00:19:04.843 --> 00:19:08.643 to the users having people involved. 00:19:08.663 --> 00:19:09.709 And I think it's so critical. 00:19:09.719 --> 00:19:13.439 So I do, a lot of work helping companies implement strategies and their 00:19:13.439 --> 00:19:15.369 marketing strategies and other things. 00:19:15.369 --> 00:19:18.689 And one of the things I always come back to is strategy is really personal 00:19:19.619 --> 00:19:21.889 and it can't be done in isolation. 00:19:21.959 --> 00:19:22.779 A digital 00:19:23.004 --> 00:19:27.844 transformation decision can't be done only by the IT team, 00:19:27.914 --> 00:19:29.374 only by the executive team. 00:19:29.384 --> 00:19:32.384 You actually have to get into the organization. 00:19:32.674 --> 00:19:37.524 The people that are using it to understand their problems, to build advocates for 00:19:37.524 --> 00:19:40.754 like, "Hey, this is the right answer because it's going to solve problems. 00:19:40.824 --> 00:19:41.644 A, B, and C." 00:19:42.024 --> 00:19:47.934 And I think it's just really critical that people start diving in and embracing more 00:19:47.944 --> 00:19:50.244 of the organizations in these decisions. 00:19:51.034 --> 00:19:52.494 Pam: I really like that. 00:19:52.514 --> 00:19:55.334 It's starting when I always say, Hey, let's start with a 00:19:55.334 --> 00:19:56.764 problem you're trying to solve. 00:19:56.764 --> 00:19:58.114 You're really starting with a human. 00:19:58.784 --> 00:20:02.994 . You're starting at the people level and, of course, digitization is a 00:20:02.994 --> 00:20:05.034 board level initiative with no doubt. 00:20:05.134 --> 00:20:09.304 But, the board that C-suite and all the way down really wants to ensure 00:20:09.354 --> 00:20:13.634 that the customers are taken care of and the revenue is not behind it. 00:20:14.364 --> 00:20:18.294 Victoria: So we started out talking a little bit about digital strategies and 00:20:18.294 --> 00:20:22.044 the factors that companies needed to consider in their digital strategy. 00:20:22.064 --> 00:20:25.694 A recent study by Deloitte, I just saw this from them recently said that 00:20:25.724 --> 00:20:29.064 investments in digital were down in 2023. 00:20:29.304 --> 00:20:33.924 And yet we know that frankly, 2024 and beyond, we need to be investing. 00:20:33.954 --> 00:20:34.884 There is no doubt that. 00:20:35.739 --> 00:20:39.209 across the industry, we need a solid digital platform or 00:20:39.209 --> 00:20:40.669 set of platforms and tools. 00:20:41.009 --> 00:20:44.609 But back to this idea of strategy from in your experience, what percentage 00:20:44.609 --> 00:20:48.559 of chemical companies actually do have a digital strategy that's 00:20:48.559 --> 00:20:52.899 tied to ROI and tied to KPIs and that they're able to execute upon. 00:20:52.999 --> 00:20:58.829 Pam: Some companies are undertaking quite robust data harmonization projects, right? 00:20:58.829 --> 00:21:02.509 And building cross functional use that we work with today. 00:21:02.509 --> 00:21:04.729 And this is definitely a digital strategy. 00:21:05.004 --> 00:21:08.524 However, some businesses are now building the business case 00:21:08.524 --> 00:21:10.004 of, hey, we have all this data. 00:21:10.254 --> 00:21:11.254 What are we going to do with it? 00:21:11.274 --> 00:21:16.694 So they're not out there and others clear strategy of just single business use case. 00:21:16.694 --> 00:21:20.554 And we see this in our chemical performance and certification 00:21:20.554 --> 00:21:21.464 management products. 00:21:21.514 --> 00:21:24.939 So I just want to get my data out there. 00:21:25.109 --> 00:21:29.409 I want single place to put my product data and I want it across all digital 00:21:29.409 --> 00:21:30.809 real estates and that's all I want to do. 00:21:31.169 --> 00:21:32.769 So that's digital strategy. 00:21:32.769 --> 00:21:38.449 So a lot of companies, I think the majority are exploring it, maybe smaller 00:21:38.449 --> 00:21:41.409 percent are in execution mode and it. 00:21:41.749 --> 00:21:45.399 Is I think that same article though Victoria, I think it said. 00:21:45.774 --> 00:21:49.584 If I'm thinking about the same line, it said 94 percent of executives 00:21:49.814 --> 00:21:54.444 said that AI will be critical in the next 5 years and really around R&D 00:21:54.674 --> 00:21:56.374 and gaining insights and tracking. 00:21:56.604 --> 00:22:00.509 And one of the interesting things that they inferred, or they may be said 00:22:00.819 --> 00:22:04.059 absolute in that article is that the challenge is the quality of the data, 00:22:04.589 --> 00:22:08.639 because if quality of the data is bad, then it just breaks the whole thing. 00:22:08.899 --> 00:22:11.879 And that's where we, the trusted partner is imperative because 00:22:11.919 --> 00:22:12.949 you don't have data quality 00:22:12.999 --> 00:22:13.899 you're up a creek. 00:22:14.119 --> 00:22:16.969 Victoria: It goes back to the original garbage in garbage out, right? 00:22:16.969 --> 00:22:20.799 If you're, you've got to have clean, good, solid data to use. 00:22:21.209 --> 00:22:23.759 And then back to your point, I think I've heard a lot of these stories, 00:22:23.779 --> 00:22:26.499 but certainly came up when we were at The Chemical Summit together that. 00:22:27.474 --> 00:22:32.664 The amount of data that's in maybe unusable formats is the wrong way to 00:22:32.664 --> 00:22:34.774 say, but there it's sitting in lab books. 00:22:34.774 --> 00:22:38.614 So there's all kinds of data sitting in lab books, sitting in somebody's 00:22:38.614 --> 00:22:44.654 computer in a file that's not easily accessible and usable, et cetera. 00:22:44.654 --> 00:22:49.114 And so there is a huge, frankly, a huge opportunity to figure 00:22:49.114 --> 00:22:51.624 out how to digitize that data. 00:22:51.964 --> 00:22:53.504 And also a gap, right? 00:22:53.514 --> 00:22:58.551 And I think about how powerful we will be when we can actually 00:22:58.561 --> 00:22:59.931 harness all the data we've got. 00:23:00.236 --> 00:23:00.426 That. 00:23:00.466 --> 00:23:00.866 Oh yeah. 00:23:01.156 --> 00:23:04.416 There were insights that we had 10 years ago. 00:23:04.716 --> 00:23:07.576 We just didn't know they were there because they, because somebody was 00:23:07.576 --> 00:23:12.296 holding onto them just because there was no way to share it effectively. 00:23:12.916 --> 00:23:16.596 Pam: In bringing products to market, this data is crucial, right? 00:23:16.606 --> 00:23:20.696 And when we do our chemical data management projects in 00:23:20.696 --> 00:23:22.516 our sustainability dashboard. 00:23:22.556 --> 00:23:27.206 We have to go into companies and get that aggregated and then the light. 00:23:27.606 --> 00:23:28.736 Start going off. 00:23:29.026 --> 00:23:29.806 Oh, my goodness. 00:23:29.806 --> 00:23:35.016 I didn't realize and sometimes folks didn't realize that their company in 00:23:35.016 --> 00:23:37.636 another location was doing X, Y, and Z. 00:23:37.636 --> 00:23:39.416 So you really get a light bulb on it. 00:23:39.416 --> 00:23:42.611 But one thing that when you talk, it triggered a thought for 00:23:42.621 --> 00:23:45.131 me is that if you had to ask me 00:23:45.131 --> 00:23:46.541 the number one roadblock 00:23:46.541 --> 00:23:49.101 Pam: to digitization, it may be Excel. 00:23:49.951 --> 00:23:52.271 And it's funny because Excel, 00:23:52.656 --> 00:23:52.946 Victoria: Why? 00:23:53.486 --> 00:23:54.996 I love Excel by the way, but 00:23:55.121 --> 00:23:56.781 Pam: listen, I have a spreadsheet. 00:23:56.821 --> 00:24:01.651 I have a spreadsheet for everything, but Excel is still saved on, even 00:24:01.651 --> 00:24:06.851 if it's in SharePoint, you can't extract a decision from that data. 00:24:07.651 --> 00:24:10.231 And my data is digital. 00:24:10.231 --> 00:24:10.981 It's an Excel. 00:24:11.031 --> 00:24:12.031 Excel is not going to. 00:24:12.631 --> 00:24:17.991 Have a direct feed for regulatory information or requirements or 00:24:18.211 --> 00:24:19.771 any of the important things. 00:24:19.771 --> 00:24:21.751 It's not going to tell you your ESG profile. 00:24:21.761 --> 00:24:24.321 You have to take that data from Excel and good news. 00:24:24.321 --> 00:24:28.751 It's already in your computer and you have to integrate it into software stuff. 00:24:28.781 --> 00:24:32.211 Victoria: You say that and it brings up to me I, I use Microsoft, I 00:24:32.211 --> 00:24:38.391 use Google and Microsoft wants me to save everything in One drive. 00:24:38.661 --> 00:24:41.751 And if I do, I can't freaking find it. 00:24:41.781 --> 00:24:43.891 Like I'm searching everywhere. 00:24:43.891 --> 00:24:48.101 And then I have to open word backup or Excel backup again, like where exactly. 00:24:48.436 --> 00:24:49.456 Did you save this? 00:24:50.206 --> 00:24:51.656 Because I can't find it. 00:24:51.886 --> 00:24:55.016 And yeah, I guess that's the good news is that bigger companies usually 00:24:55.026 --> 00:24:56.576 have better protocols around this. 00:24:56.606 --> 00:25:01.646 When you're an entrepreneur with a small business, you're fending for yourself. 00:25:01.666 --> 00:25:06.946 Although the reality is many chemical companies really have just, 00:25:07.846 --> 00:25:11.686 a handful of employees, less than 20, less than a hundred employees. 00:25:11.986 --> 00:25:16.136 And they don't necessarily have the standardization of business 00:25:16.146 --> 00:25:18.656 practices to harmonize that data. 00:25:19.831 --> 00:25:24.001 Pam: Yes, and it will still that means it's sometimes simpler. 00:25:24.231 --> 00:25:25.781 Candidly, right? 00:25:25.791 --> 00:25:26.971 It's less moving parts. 00:25:26.991 --> 00:25:31.591 It's less human behavior and it's a very clear cut what 00:25:31.591 --> 00:25:32.741 they're going to get out of it. 00:25:32.821 --> 00:25:34.051 So I think that. 00:25:34.411 --> 00:25:36.531 If you had to look at maybe how to start. 00:25:36.961 --> 00:25:41.191 Or which platform to pick or what factors. 00:25:41.711 --> 00:25:42.931 If you had to look at that 00:25:43.216 --> 00:25:49.646 through the lens, it's not a one size fits all because you do have different size 00:25:49.646 --> 00:25:51.596 of companies that have different needs. 00:25:51.966 --> 00:25:56.576 And so what is your company situation, your objectives and your strategies? 00:25:56.816 --> 00:25:58.676 So that's what needs to be considered. 00:25:59.066 --> 00:26:01.776 When our customers choose UL Solutions, 00:26:02.446 --> 00:26:07.126 they choose you well, mainly from the vendor with a proven track record, right? 00:26:07.126 --> 00:26:11.896 We've been around 130 years, pretty long time, chances of us going to 131 are huge. 00:26:12.906 --> 00:26:18.376 So I yeah, I joke, but we're, a trusted vendor and the ability to collect 00:26:18.386 --> 00:26:24.586 and aggregate and analyze across from employee to ESG to product to supplier 00:26:24.856 --> 00:26:27.156 is hugely important for our customers. 00:26:27.751 --> 00:26:32.901 And, access to those evolving regulations and sustainability and matching that 00:26:32.931 --> 00:26:38.621 with a raw material to actually design a product, hugely important, but it may not 00:26:38.621 --> 00:26:43.521 be important to all, but important most and really to differentiate your company 00:26:43.761 --> 00:26:45.661 based on your digitization strategy. 00:26:45.881 --> 00:26:49.811 That's important, but you have to look at what your company is trying to achieve 00:26:49.811 --> 00:26:52.491 and then match, what you do from there. 00:26:52.541 --> 00:26:53.161 Victoria: Makes sense. 00:26:53.381 --> 00:26:56.961 Pam, this has been really good and I know we could keep talking for a very 00:26:57.021 --> 00:26:59.001 long time about all things digital. 00:26:59.291 --> 00:27:02.381 We're still here at the beginning of 2024. 00:27:03.001 --> 00:27:07.091 When you look ahead to the year, what are you looking forward to? 00:27:07.091 --> 00:27:08.921 What should we be looking forward to? 00:27:08.941 --> 00:27:13.591 Maybe in the land of UL Solutions or in the land of digital and chemicals, 00:27:13.601 --> 00:27:15.061 which what's on the horizon. 00:27:15.861 --> 00:27:19.921 Pam: What's on the horizon is I think full speed ahead. 00:27:19.991 --> 00:27:25.441 And what I mean by that is that there are all kinds of technologies 00:27:25.711 --> 00:27:31.721 popping up in the market and whether you are doubling down on AI, and 00:27:31.721 --> 00:27:35.891 I use it in quotes, because people use AI for pretty much any sentence. 00:27:36.431 --> 00:27:40.691 And whether you're using that, or you're using data aggregation or 00:27:40.691 --> 00:27:42.531 funneling it into your workflows. 00:27:42.971 --> 00:27:47.901 I think 2024 is going to be extremely exciting from an adoption standpoint. 00:27:48.816 --> 00:27:55.796 And extremely exciting for us to really come together in a way of the industry 00:27:55.796 --> 00:28:02.346 to offer transparency needed in the market today to bring these compliant 00:28:02.506 --> 00:28:05.406 and sustainable products to the world. 00:28:05.636 --> 00:28:08.216 And it's really crucial in the 1st step. 00:28:09.106 --> 00:28:13.666 In doing that, and what I'm most excited about is working with companies to 00:28:13.666 --> 00:28:17.396 really take the problem that they're trying to solve and strategically 00:28:17.396 --> 00:28:21.806 tying it to that KPI and business case, and then marrying it with a solution. 00:28:21.806 --> 00:28:22.776 That's right for them. 00:28:23.271 --> 00:28:23.581 Victoria: Love it. 00:28:23.581 --> 00:28:23.831 Love it. 00:28:23.841 --> 00:28:27.181 So full steam ahead and we'll see how the year progresses. 00:28:27.221 --> 00:28:29.841 Pam, Thank you so much for joining us today on The Chemical Show. 00:28:30.486 --> 00:28:32.026 Pam: Thank you, really enjoy it. 00:28:32.471 --> 00:28:34.691 Victoria: I've enjoyed it as well and thanks everyone for listening. 00:28:34.691 --> 00:28:38.171 Keep listening, keep following, keep sharing, and we'll talk again soon. 00:28:40.505 --> 00:28:42.285 We've come to the end of today's podcast. 00:28:42.695 --> 00:28:45.245 We hope you enjoyed your time with us and want to learn more. 00:28:45.654 --> 00:28:47.914 Simply visit TheChemicalShow. 00:28:47.924 --> 00:28:50.674 com for additional information and helpful resources. 00:28:51.364 --> 00:28:55.414 Join us again next time here on The Chemical Show with Victoria Meyer.