Power of N: Empowering Users

In the previous post, we described how businesses need to be agile to keep their competitive advantage and drive value. The greatest value being achieved when the software is fully aligned with [...]

In the previous post, we described how businesses need to be agile to keep their competitive advantage and drive value. The greatest value being achieved when the software is fully aligned with the business process, both at the strategic and tactical levels. A central assumption in that value equation is that users are fully productive with the system. Software must empower the users. Any friction can dramatically reduce the value of the system, negating any expected value.

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Power of NThe software industry is past the days of early adopters intrigued with the underlying technology living with clunky paradigms and interfaces. No longer do the users adapt to the system. What does it mean to empower users and motivate them to use the software to the fullest extent? The foundation for great business software is supported by three pillars: Usefulness, Goal Alignment, and Cognitive Alignment.

Pillars of Success

  • Usefulness It’s almost too obvious to state. Software should have the features that are required by the user to accomplish their goals. Any missing capabilities detracts from the system’s usefulness, causing the user to perform tasks outside the system or develop workarounds that slows them down. For the Revenue Management process, the core capabilities include pricing, contracting, incentives management, and ad-hoc analysis.
  • Goal Alignment While a Product Owner can define what features are required, that’s just the first step. The system must surface those capabilities in a way that facilitates the user towards their goal. In an effort to minimize development complexity and promote framework consistency, many business applications treat all scenarios similarly, usually fitting them into a “search for then edit document” pigeon-hole. Software can be much smarter by embedding an understanding of the user workflows. For example, a chargeback analyst needs to efficiently resolve any discrepancies in the chargebacks claimed by their wholesalers. Software that delights the user needs to draw from all the information in the system and guide the user. The system should proactively indicate what claims need attention separating data problems, such as incorrect IDs, from eligibility problems, such as missing membership, from contracting errors. Drawing on all the knowledge available, the system can enable the user to work swiftly and reliably.
  • Cognitive Alignment As computers have permeated all aspects of people’s lives, a new field of study has grown that has focused on building better computer interfaces for people, so called Human-Computer Interaction. Psychology and the understanding of human behavior plays a strong role in ensuring that users can interact with the system effectively. Is the information laid out on the screen in a way that the user understands? Does the system use terminology that the user expects? Can the user tell if fields are required or not? Does the user know how to resolve any potential error condition? Modern software companies, like Model N, build strong expertise in the cross-disciplinary field of User Experience. These UX teams work side-by-side with the Product Management teams defining the usefulness of the product and the Engineering teams building the product to ensure a strong cognitive alignment.

Pillars of Success

Software that successfully builds in these three characteristics empowers users, but can it motivate users as well? Tying into user motivations can take good software and make it great. Motivation, Daniel Pink argues, is driven through Autonomy, Mastery, and Purpose (AMP). Business software is typically used heavily and user motivation can be significantly impacted by the tools and software they use.

  • Autonomy Users need to feel self-sufficient in the work they undertake. Simple tasks should not require complex skills. Adapting to a changing business should not require IT involvement. Great software thinks about the user holistically and adapts to their needs.
  • Mastery Users need to be able to grow to become experts in the system. The system must adapt and not treat them always as a novice. Multi-step wizards may give way to direct editing. Browsing and exploring may give way to searching. Great software should build in efficiencies for expert users whilst not complicating a beginner using the system for the first time.
  • Purpose Users need to know that what they do is important. Great software takes away the menial tasks and focuses the user on their goals that are aligned with the larger business processes and goals.The combination of empowerment and motivation cannot just arm users with the tools they need to be productive, but can also instill delight and passion. And passionate users are productive users.

Welcome to “Power of N”, a collection of blogs by John Ellithorpe, CTO of Model N. John’s series will give you an inside perspective on enterprise software and how Model N builds applications that solve our customers’ critical business needs. Power of N takes you behind the scenes for a look at what’s required in the applications that our customers use to realize exponential growth in revenue.

Monster Spreadsheet Pitfalls: Why Replace Excel with CPQ?

Lurking in your sales quoting process is the monster spreadsheet. It’s big, cumbersome and sometimes unruly. You’re team has been using this manual system to create quotes for so long now that [...]

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Lurking in your sales quoting process is the monster spreadsheet. It’s big, cumbersome and sometimes unruly. You’re team has been using this manual system to create quotes for so long now that it’s hard to imagine doing it another way.

The Excel whiz that created your quoting spreadsheet system probably thinks it’s like a hand-built Ferrari engine. He is proud of it, but it’s admittedly complex. Of course this provides some job security because he is likely the only one who can maintain the monster. Your sales people may also be comfortable – very few people like change – even though the manual configure, price and quote process is time-draining and error-prone.

Maintaining the status quo, because your team is used to it, is not always what’s best for your business. Despite being the industry standard for spreadsheets, Excel has clear drawbacks when it comes to creating sales quotes. There are some things Excel simply can’t do for sales users.

1.Setting rules. Adding new rules can be a cumbersome process. The formulas and tables can be very confusing for someone who is not updating the spreadsheets daily. So, generally, a sales department relies on an Excel guru to administer the quoting system and maintain the rules. In many organizations it takes days and lots of testing to get new rules working correctly and to make sure the rest of the rules still work too.

2.Quote approval. A big pain point for many organizations is getting the quotes out the door. Because sales users need to gather information from disparate pricing sheets and input them into the quoting spreadsheets, the organization spends more time on quote approval. Did the rep use the latest pricing sheet? Did the rep correctly select the right combination of options and service plans? Is this a special price request that needs additional approvals? Manual quoting requires manual verification of accuracy and approvals that slow the process.

3.Scalability. As businesses grow, their product and service offerings grow with them. Thus, their quoting spreadsheets keep growing and growing. For complex products and recurring services, manual quoting eventually becomes impossible to sustain while delivering accurate quotes to prospects.

4.Maintenance. Relying on one Excel whiz to maintain your configure, price and quote spreadsheets is a disaster waiting to happen. If the whiz is unavailable or on vacation, then peers will likely struggle and may be unable to figure out the calculations or unlock the spreadsheet to make updates. There is also the risk that your organization may not be able to access your spreadsheets on shared network drives because they were accidentally deleted, not backed up, or the network drive was unavailable.

5.Real-time data. Another downside of the cumbersome, manual quoting process is that you can’t see your sales funnel. Sales managers have little or no visibility into the history of quotes that reps or channel partners send to prospects or what’s in the pipeline. Without some intense custom reporting and an individual dedicated to generating these reports on a regular schedule, you’ll be hard pressed to link your quotes with an opportunity, so you can see value of your deals today.

We understand that sales organizations and administrators can view their Excel system as a security blanket of sorts. But it’s this false sense of security that slows down your quoting process and puts deals at risk. Cloud-based CPQ software can liberate your sales team from the spreadsheet monster, so you can maximize the value of every sale, quickly.

Learn more about what you can do with automated CPQ solutions and how to capture more revenue faster.

Model N Express – Fueling Growth in the Life Sciences Mid Market

Over the past few months, a growing number of our pharmaceutical and medical device customers have celebrated the Go Live of Model N Express. What is Model N Express? It is Model N’s new offering [...]

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Over the past few months, a growing number of our pharmaceutical and medical device customers have celebrated the Go Live of Model N Express.

What is Model N Express? It is Model N’s new offering which allows tomorrow’s emerging life sciences leaders (pre-market, small and mid-size pharmaceutical and medical devices companies) to benefit from the tremendous value of Revenue Management, at a cost that fits in their budgets and resources, and at an accelerated speed of value.

Model N consolidated all the best practices learnt from larger life sciences organizations in the past 15 years and synthesized them into a set of implementation accelerators and standard operating procedures (SOPs) that allow for faster time-to-go-live.

We consider it a game changer for so-called “mid-market” companies. Until now, limited by both personnel and budgetary resources, companies with revenues under $1B worldwide had to manage commercial contracting and government compliance processes with limited custom internal IT developments, spreadsheets, or even pen and paper! As a result, they were often at risk of overpaying incentive rebates, miscalculating their distributor chargebacks, paying fines for misreporting prices applicable to government agencies, and more.

At Model N, we heard the midmarket needs loud and clear and decided it was time for this important segment of the market – some of the most innovative companies in the industry! – to be able to automate these business critical process and, doing so, to maximize revenues and margins while complying with regulatory mandates.

Eight months ago, we set out to streamline and accelerate the implementation of our Revenue Management offering for the mid-market. The response from the market has been excellent, as both pharmaceutical companies, such as Keryx Pharmaceuticals or Tolmar Pharmaceuticals, and medical devices companies, such as Sizewise, jumped aboard the program.

Through these early customers, we continued to learn about the unique Revenue Management requirements and needs of midsize companies, and further simplified and adapted our approach. In particular we were able to reassert the fundamental pillars of the Model N Express offering:

1. An implementation is only as good as its data. The earlier the data cleansing occurs, the faster the implementation. With Express, we engage on data as soon as possible to remove any possible hurdle.

2. Management education and empowerment is critical for the business to change quickly. The Express methodology comes with a lot of proven industry business processes that companies need to adjust to quickly. With Express, we communicate about this even before the project starts, so that the customer can realign and comply to SOPs.

3. Automated integration effort also needs to start on day one. Defining what processes to automate, what data to map and integrate are intensive exercises that to start quickly in the Model N Express methodology.

4. Start leveraging SOPs even before the start of the project. Aligning everyone on best practices and accelerators before the kick-off day makes for intelligent, efficient discussions during the first few days of the project.

Our goal is to continue to accelerate time-to-value to maximize value for customers. We cannot wait for many more life sciences companies to adopt Model N’s best-in-class Revenue Management Cloud solutions, thanks to the Express offering!

Power of N: Fixing Pain and Fostering Process

Welcome to “Power of N”, a collection of blogs by John Ellithorpe, CTO of Model N. John’s series will give you an inside perspective on enterprise software and how Model N builds applications [...]

Welcome to “Power of N”, a collection of blogs by John Ellithorpe, CTO of Model N. John’s series will give you an inside perspective on enterprise software and how Model N builds applications that solve our customers’ critical business needs. Power of N takes you behind the scenes for a look at what’s required in the applications that our customers use to realize exponential growth in revenue.

Last month in Insanely Great Enterprise Applications, I described the characteristics of truly successful applications targeted for businesses. In this post, I will focus on the first, and most apparent, characteristic: Addressing a specific business problem.

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It is obvious that enterprise applications are designed to solve business problems. What makes a great application is the extent and completeness to which the business problem is solved. Pain points usually exist within a business context, usually an end-to-end process. A business application can derive some value by simply addressing the specific pain, while ignoring the larger process. However, that value is inherently limited by the narrow focus of the solution.

Tackling the entire end-to-end business process expands the potential value of the solution in more than one way. As with targeted solutions, structured automation can provide significant operational efficiencies. Potentially more meaningful value can be derived by looking at improving the processes themselves.

Let’s look at a Revenue Management challenge in the Life Sciences industry:Chargebacks. In a nutshell, a chargeback is a credit from a manufacturer to a distributor that purchases product at a higher Wholesale Acquisition Cost and sells it at a lower contracted price. The biggest operational challenge is simply maintaining a common understanding between the partners of the data that drives pricing. The Model N Revenue Management Solutions directly solves the operational challenges by managing the GPO membership rosters and the Bid Awards that provide clear price notifications to the distributors. Our solution provides a collaborative platform to a complex, multi-party process that targets the operational challenge of minimizing the chargeback error rates.

However, Chargebacks is only a piece of the larger Revenue Management end-to-end process. In this case, end-to-end process is actually a misnomer as there are no ends. This process is a closed-loop plan-execute-analyze cycle. During planning, contracting strategies are developed to best position the manufacturer in the market. During execution, those strategies are realized as contracts sold into the market resulting in chargebacks that need to be paid. Finally, the realized revenue is analyzed as input into the next planning phase. The full solution needs to not just automate the overall process, but also provide structure and insight to that process, thereby, addressing a broader scope of questions. How are your channels reacting? What contracting strategies were effective? Did investments in specific incentives provide the desired outcome? How should you adapt?

Great enterprise applications excel by tightly combining these two levels, the operational and the strategic. Being an evidence-driven analytical organization requires fine-grain alignment across the entire process. While it’s possible to stitch together a variety of best-of-breed operational applications, inherent mismatches in how different solutions are designed along with the integration challenges can increase rather than decrease the operational challenges taking away valuable time from the strategic. Enterprises are increasingly coming to this conclusion and looking for solution suites.

What about change? Thus far, I have described solutions delivering both tactical and strategic value, but without any notion of change. The world does not stand still. Next month, I’ll look at what it means to support a dynamic business.

Is Your CPQ Solution Running Yesterday’s Technology?

Albert Einstein said, “Any intelligent fool can make things bigger and more complex… It takes a touch of genius— and a lot of courage—to move in the opposite direction.” For me, Einstein’s words [...]

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Albert Einstein said, “Any intelligent fool can make things bigger and more complex… It takes a touch of genius— and a lot of courage—to move in the opposite direction.”

For me, Einstein’s words capture the spirit of the many attempts made to simplify the sales quoting process. I’d wager that most sales people have worked at more than one organization that has thrown yet another spreadsheet into the mix because “it will make quoting easier.” Did it?

When you sell complex products and services, the last thing you need is a quoting process that adds complexity. Manual quoting, which requires the collection of spreadsheets, product sheets and people to reconcile endless pricing variables, leads to complications and costly mistakes. Eliminating these errors is one of the main reasons that forward-thinking organizations choose to automate their quoting process by adopting a configure, price and quote (CPQ) solution. However, it’s not the only reason.

Beyond accurate quotes, sales users also need to quote faster. Automating CPQ can make configuring a product quick and accurate. Just how simple this will be relies upon the rules engine that drives the CPQ solution. Many rules engines make quoting accurate but also more complex than it needs to be.

Most CPQ solutions on the market today use sequential rules engines as the backbone for their solutions. While they’re intended to be simple, the very nature of sequential rules engines increases complexity for administrators and users. Sequential rules engines rely on an explicitly specified order of rules and rule families. In these deployments, the rule firing sequence is critical to accurate configurations and it requires fully and clearly expressed rules for each product and option. In short, there are more rules to write, test and upkeep.

There is a better way. REVVY CPQ leverages a sophisticated constraint rules engine that minimizes the total number of rules needed to model the configuration. This simplifies the process for administrators and sales users, delivering better results.

Let’s explore a couple ways that REVVY’s constraint rules engine outperforms other rules engines.

(1)    Shows what you can do, not what you can’t. Sequential rules engines evaluate rules after an option or product is selected and then allow you to select incompatible or invalid options, which causes sales people to get frustrated, and rightfully so. No one wants to be told after they’ve selected options that the options are not available or not allowed.  The REVVY rules engine already indicates in the UI whether a certain option is valid by only showing the valid options, which saves time and prevents errors.

(2)    Explains invalid options so you can give customers what they want. Sometimes customers want options and products that invalidate other products or options that they still want. REVVY rules engine allows users to see the cause of invalid options and choices to fix all options that might conflict with what the customer wanted.

(3)    Faster response time. Sequential rules engines re-fire all the rules in the same sequence multiple times in an attempt to make up for shortcomings. However, this degrades performance and takes more time. REVVY constraint rules engine detects dependencies and thereby optimizes the time it takes to evaluate all rules. This can as much as half the time it takes to execute results.

It’s not easy to make things simpler. It took genius and courage to develop the REVVY CPQ rules engine. But, it is absolutely worth it. This will make a huge difference for administrators and sales users because simpler for them means better, faster and more effective quotes.

You can learn more about why configuration technology matters and how REVVY constraint-based rules engine outperforms traditional solutions.

How Model N CPQ Boosts CRM at the Last Stretch of the Sales Cycle

  Companies spend big bucks on customer relationship management (CRM) systems. In fact, Gartner forecasts CRM software revenue will reach $23.9 billion this year. The CRM umbrella is wide. [...]

 

Companies spend big bucks on customer relationship management (CRM) systems. In fact, Gartner forecasts CRM software revenue will reach $23.9 billion this year. The CRM umbrella is wide. It includes everything from customer service and support to marketing and sales. It’s a fairly broad category, but across the board automation is a critical component. Whether its help desk, email marketing or inventory control, automation enables businesses to streamline the lifecycle and improve the customer relationship.

The opportunities to improve CRM seem endless and there is a lot of talk about where CRM is heading. I agree that mobility, the Internet of things and e-commerce will be big drivers for CRM investment. Outside of these high-level drivers, I think that we’ll also see more CRM investment in niche sales automation tools that live outside the CRM tab for opportunity management, which centers on generating a qualified lead and handing him off to sales.

Strategic investment in tools that address the last stretch of the lifecycle will be where the rubber meets the road for increasing profitability of the customer relationship, particularly for organizations selling complex products and services.

One such tool is configure, price and quote (CPQ). CPQ software boosts CRM by automating part of the sales process that is repetitive, time-consuming and prone toerrors that leave money on the table. To give you an idea of how CPQ software can streamline the quoting process through automation, here’s a step-by-step look at how our Model N CPQ solution works:

• Lead comes into CRM system

• Sales rep accepts the lead and is ready to generate a quote

• Rep launches Model N CPQ from the sales opportunity in CRM

• Rep uses Model N CPQ to configure the quote

• Model N CPQ automatically guides rep through process according to rules and configurations

• Quote is generated and attached to opportunity

• Quote is automatically routed for approval if necessary, which is determined by terms

• Once approved, quote is released to customer

• Once sale closed, CRM creates customer record and billing info

• Aberdeen reports that B2B sales organizations that use CPQ software to streamline their quoting process achieve higher proposal volume, larger deal size and shorter sale cycles. The Aberdeen report is definitely worth a read; you can sign-up for a free registration to read the report.

It’s important to understand that CPQ software simplifies quoting and boosts CRM, but not all CPQ software is created equal. The most important aspect of any CPQ software is that people actually use it. This means the solution you choose needs to be simple and user-friendly. When you start looking at making an investment in CPQ ask a few crucial questions:

1. Is it native to my CRM?

2. Can it quote products, services and subscriptions together?

3. Will I need to write code every time there’s a change to quoting rules?

4. Can supervisors approve quotes in real-time?

You get one shot to earn your sales team’s acceptance of a new application and they’re a finicky group. Do your due diligence—compare solutions, talk to users and trial the software. After all, any investment in CRM and sales automation tools that don’t get used is just more money down the drain.

5 Tips to Simplify Rollout and Maximize ROI of CPQ Software

When you make the decision to move from manual quoting to an automated CPQ process, you’re taking a significant step toward stopping profit erosion. You’re liberating your salespeople from the [...]

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When you make the decision to move from manual quoting to an automated CPQ process, you’re taking a significant step toward stopping profit erosion. You’re liberating your salespeople from the time drain associated with configuring complex products with lots of moving parts, so they can spend their time selling more. But you still need to understand the best practices that will maximize your return on investment in CPQ software.

Every CPQ solution requires some degree of upfront planning in order to function properly and efficiently. But, this legwork shouldn’t be too much work itself. The goal is to do this setup correctly, quickly and only once, then reap the benefits for all time.

So how should you approach this start-up process for your CPQ rollout?

Your first step is to assign a CPQ admin to identify dependencies and relationships among your components or product options. When you’re dealing with complex products, selecting one component can have a ripple effect on subsequent choices. Relying on salespeople to remember these dependencies will negate the value of automating CPQ and lead you straight back to delayed and inaccurate quotes.

Take the time to do preliminary modeling and map your component relationshipsbefore you add the components to the CPQ system. Once you know how the components are related, you can quickly create option and option groups and define product configuration rules.

Effective configuration rules are the basis for eliminating quoting errors. Consider that you will need different types of rules including compatibility rules, must-select rules and visibility rules. For instance, if options don’t work with each other, you’ll need a compatibility rule that prevents a salesperson from selecting both options together.

It’s important to outline configuration rules in plain English. Define them in business terms so it’s easier to understand how to create those rules in the CPQ system. Decide it it’s more efficient to describe these rules as positives or negatives.

Most importantly, test that your rules work the way that you expect. Confused salespeople are a surefire way to kill adoption of your CPQ system—you have one chance to get your salespeople onboard with your new automated CPQ system, so it needs to work as expected. Test rules as soon as you’ve created them and test the entire model to ensure the system works as planned.

While this legwork is time-consuming, it’s the foundation for successfully automating your CPQ process. When your CPQ admin takes the time to follow the best practices we’ve described above, your CPQ system will enable salespeople to quickly create accurate quotes, win customers and keep those customers happy.

For more details on these and other best practices for effectively implementing CPQ, download our best practices sheets.

What’s in store for CRM for 2014?

Over the past few weeks, I’ve seen a number of predictions put forth in the CRM space. As pundits look into their crystal balls, it’s no surprise to see them home in on the “Internet of Things” [...]

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Over the past few weeks, I’ve seen a number of predictions put forth in the CRM space. As pundits look into their crystal balls, it’s no surprise to see them home in on the “Internet of Things” particularly after Salesforce CEO Mark Benioff announced his vision for the “Internet of Customers” whereby every Internet-connected device becomes a touch point for connecting with customers.

CRM tools will certainly advance as consumer devices are increasingly Internet-connected. That’s definitely where we’re headed in the long run. But from a shorter-term perspective, two things stand out to me as absolute certainties for CRM in 2014.

Mobile becomes the norm—anything less won’t be good enough

First, anything not built for mobile will be left behind. Companies have come to terms with the bring your own device (BYOD) phenomenon after consistent demands from employees. As a result, companies have either allowed staff to bring their own tablets and smartphones or opted for a choose your own device strategy, in which the company issues the device of choice to the user. In fact, Gartner has said that by this year 30 percent of sales organizations will issue tablets as the primary device for sales staff. With iPads and Droids in hand, users won’t embrace any systems or processes that can’t be done while mobile. Whether it’s an off-the-shelf tool or a homegrown custom application, every new CRM undertaking will count mobility as a core requirement.

In addition to mobility, usability will be a key driver to adoption of new CRM applications. If it doesn’t make the process easier for sales teams, they won’t use it. Forcing sales teams to use a cumbersome legacy in-house system will no longer work. With SaaS solutions a click and a credit card away, it’s easy for business managers to go around the company system that fails to meet their needs and get what they truly want.

CPQ steps into the limelight for CRM

We’ll also see more of the sales process benefit from automation. Most organizations continue to lack a unified view of customers that includes current and past quotes, contracts and transactions. They still live with the manual inputs and lost cycle time spent crafting quotes for products and services. This translates into longer sales cycles that lose deals and lack visibility into workflow and contracts. For the rest of 2014, this will change and we’ll see a surge in organizations connecting their CRM systems with configure, price and quote (CPQ) processes.

By automating CPQ, companies can maximize return through contract management and provide sales teams with an end-to-end view that allows for execution of cross-sell and up-sell opportunities and minimizes costly errors. Ultimately, linking CRM and CPQ will increase the value of every customer relationship.

Stronger software solutions for automating quoting and contract management are now available and will fill a void on the technology front. However, it’s not necessarily the technology that is driving CPQ into the limelight and stimulating change. Rather it’s the customers’ requirements for better service. Overall, businesses are increasingly reshaping their perspectives by putting themselves in the shoes of their customers. They’re asking right question—how does the customer want to do business?—instead of forcing the company’s outdated processes on customers.

In the case of CPQ, customers demand that businesses be more responsive and CPQ systems provide the sales force with the tools they need to make the sales process easier on their customers.

The customer experience is the common thread among each and every evolution that has taken place and will take place in the CRM space; in 2014 the customer will continue to drive significant change.

What do you think will be the biggest change to CRM in 2014?

Manual Quoting Risks Closing the Deal

When was the last time you wanted MORE risk, when trying to close a deal? Many sales organizations fail to realize that by continuing to employ manual processes for quoting, they are accepting [...]

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When was the last time you wanted MORE risk, when trying to close a deal? Many sales organizations fail to realize that by continuing to employ manual processes for quoting, they are accepting unnecessary risk.

A manual process generally incorporates the collection of spreadsheets, product sheets, and then painstakingly building a quote document. Generating this quote involves multiple steps, all of which drain time and resources that could otherwise be used for more selling. The typical process calls for the salesperson to determine the customer’s needs and then relay this information to pricing and sales support staff that generates the quote using spreadsheets. Before the quote goes to the customer, the salesperson must first obtain internal approval from his boss who may review the quote immediately or may sit on it for a couple days, depending on his schedule. Finally, the quote is ready for the customer, or is it?

While a manual approach to quoting may save the company money on software, it falls short in a number of ways that can put closing the deal at risk.

Costly Human Errors

A manual quoting process is a recipe for eroding profits and damaging sales rep credibility. Most sales organizations have a complex combination of products and services that they need to quickly and accurately quote to customers. However, a manual process relies on people taking into account endless pricing variables—products, packaging, bundling, discounts—that sales teams can often misquote. There’s nothing to prevent mistakes other than the human eye catching an error.

There is also missed opportunity in up-selling and cross-selling, as most often the salesperson is not creating the quote in the CRM system. A manual process is cumbersome for the salesperson to work through different scenarios for up-selling and cross-selling complementary products or services.

<>Lost Cycle Time

In the quoting and proposal stage, manual processes are a road block that slows down the sales cycle. There is often more than one price sheet to hunt down and discounting rules can be unclear. Data sheets to support the quote are held in disparate file stores, draining even more time. Product offerings also change constantly and salespeople cannot be expected to be well-informed about a product list containing thousands of SKUs that change daily. Manually configuring the quote to include the correct components requires that salespeople hunt down the right SKUs, verify the components are compatible and confirm that each required component is specified, which adds unnecessary time to the sales cycle.

In addition, each quote must be reviewed and approved to ensure there is not too much discounting and there is enough margin health. The quote cannot be sent to the customer without every item being approved. And, while a quote goes through your internal approvals, the customer is left waiting and your competitors have time to enter a bid of their own.

In short, a manual quoting process not only leaves money on the table, but it also leaves customers feeling less than satisfied. And a potentially unhappy customer is a risk you can’t afford.

Today, there’s something you can do about it. Cloud-based software solutions make it easy to automate the error-prone and lengthy manual process for generating quotes. Automating configure, price and quote (CPQ) processes enables your company to reduce risk and earn more money from new prospects and existing customers.

Your sales department is charged with generating your revenue and it makes sense to improve their efficiencies and make sure every choice they make is correct, compatible and profitable.

Learn more about what solutions like REVVY CPQ can do to automate everything in your quoting process.

Hello World!

Welcome to REVVY. Today marks a milestone on this journey of passion and creativity that a group of us from Model N decided to embark on. We set out with this question: Why should business [...]

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Welcome to REVVY. Today marks a milestone on this journey of passion and creativity that a group of us from Model N decided to embark on. We set out with this question: Why should business software be so hard to use? Our personal and consumer experiences online are filled with intuitive and pleasing websites. I never read a manual or attended training to shop on amazon.com, and I’m always amazed by the aesthetics of gilt.com. Both of these websites combine beautiful experiences with deep commerce functionality.

Well, we decided that we can do the same for business software. Thus REVVY was created. We took our cues from the best consumer and business software available. But that wasn’t all…business software needs to provide real business value. We asked our intended users what’s important and listened. We shared our prototypes and listened some more. We conducted user testing and listened even more. We took it all in and build REVVY CPQ.

So here we are, ready to share REVVY with all of you. And we’re still listening intently….

Hello world!