Issues of Siloed Departments & the Need for Connectivity
Many organizations have a hard time connecting their Quote-to-Cash process— they have their sales org working in a CRM, have contracts in a homegrown highly manual process, have billing and revenue management in another manual system and then they try to capture where the business is at with a disconnected reporting system. When everyone in an organization is working in their own process they aren’t looking at the big picture to see what is happening upstream or downstream— limiting productivity and overall potential for growth.
The components of Quote-to-Cash are not segmented by department, rather they affect the entire organization. Sales needs to make sure a contract is speaking to new products being developed so the delivery date is correct. When the product is delivered affects when the invoice is sent out. The billing system needs to have all correct contract information so finance is able to determine when revenue needs to be recognized. And how this is interconnecting internally, affects how a customer is able to engage with your organization and ultimately determines whether they are going to do business with you again. In order to streamline the end-to-end buying process and eliminate a manual revenue cycle many organizations look to an automated solution to provide a single source of truth.
Dun and Bradstreet’s Search to Streamline Their Quote-to-Cash Process
Dun and Bradstreet recognized a disconnected Quote-to-Cash cycle as a huge barrier in their ability to become a global company, therefore sparking an initiative to eliminate legacy systems and move to completely connected modern channels.
How Apttus Was Able to Solve the Problem
Since engaging with Apttus, Dun and Bradstreet have been able to bridge the gap from their CRM to their ERP and reaping in the benefits, like:
– Real time visibility into revenue schedules— with a 12 month view they can more accurately forecast revenue
– Digital contracting— their sales org is able to pull together and summit for approval contracts from mobile devices
– Automated billing and invoicing— eliminating mistakes when contract information feeds directly into an outgoing invoice
– End-to-end solution— enabling new global products to be supported consistently across all markets and channels
And finally with the addition of Apttus, Dun & Bradstreet have been able to produce consistent customer experience across all markets, worldwide, making them an easy to do business with organization. Which as we all know, creates repeat customers.