About David Heneghan:
David Heneghan began his career as a corporate bond trader in London, in this role he used to analyse and cross tabulate data to seek out competitive advantage when taking positions on companies.
Having completed a masters’ degree in business strategy, seeking out ways to help businesses improve strategically was always something that interested David. One thing that struck him, was that the decision making capabilities traders had were far better than capabilities of the corporates he was betting on!
He assumed it was the Bloomberg terminals that gave traders the edge, but discovered the problem for the businesses is not a lack of technology or resources, the problem is a lack of data.
In 2012 David identified Piotr Kordalski as someone with complimentary skills and set about starting CX Index to deliver enhanced decision making capabilities to the corporates. Piotr had over 12 years coding experience at this stage and a primary degree in Economics from the University of Kracov.
You see, businesses generally compete 2 things, price and Customer Experience.
Understanding competitor pricing is relatively straight forward, but customer experience, is much more intangible and businesses make blind decisions. CX Index has figured out a way to deliver enhanced insights and competitive information by leveraging partner networks and putting data first and software second.
The business has grown steadily with customers in hotel, financial services and retail sectors.
One area that the business has a particular focus is in the area of customer experience benchmarking, and to achieve valid benchmarks, CX Index focuses on partnering with businesses that have access to industry wide data sets. A good example would be CarTrawler, the car rental aggregator that CX Index has had as a client since December 2013, through this channel CX Index can provide insights to 1,200 companies across 30,000 locations. CX Index is looking for new partners and companies to work with in growing the opportunity.
About CX Index:
CX Index was established in March 2012 when David met Piotr Kordalski, although David had been working on the idea for a little over a year before that.
Businesses compete primarily on price and customer experience, yet they make blind decisions on customer experience. Unlike existing solutions such as Medallia or Qualtrics which enable businesses to make internal comparisons on customer experience, by leveraging partnership networks CX Index can efficiently provide industry-wide comparisons facilitating more actionable profitable decisions.
“CX Index is a young, innovative company that has the potential to disrupt the traditional benchmarking industry by delivering real-time, closed-loop, comparative performance metrics that can be integrated with a firm’s operational systems.” – Jeremy Cox, Principal Analyst CRM, Ovum