November 8 by Eric Dreshfield
In the movie, The Terminator, Skynet represented a world where Artificial Intelligence (AI) took over in a really bad way. But that was Hollywood, and AI is really back – in a really good way. Especially if you are involved in sales or sales operations.
Redefining Sales Operations with Applied AI
Forward-leaning sales leaders are redefining the selling experience with AI. Ankur Ahlowalia, SVP Sales Operations at Apttus, shared best practices for harnessing virtual assistants powered by AI to predict bookings, renewals, prices, and more. As the head of sales operations for Apttus, Ahlowalia knows a few things about improving sales operations, especially for companies experiencing fast growth such as Apttus.
While at Apttus, Ahlowalia oversaw changes which:
• Increased Win Rates by Over 40%
• Increased SaaS Bookings by 10%
• Decreased the # of SKU’s by 33%
• Decreased the # of Price Books
• Increased Install Base Bookings by Over 15%
• Decreased Deal Approval Cycle Time by Almost 90%
However, the biggest improvements were yet to come. With the introduction of Max, Apttus brought artificial intelligence to sales operations. AI began touching multiple parts of the sales ops ecosystem. This included everything from qualifying opportunities, RFPs, budgetary quotes and proposals, pricing negotiations, to order form and contract negotiations.
So how has AI helped Apttus and its customers? Customers experienced:
• Reductions of sales quoting cycles times of 50% – 80%
• Deal sizes increases of 30%
• Reductions in Rogue discounting of 25%
Apttus itself experienced:
• Sales quoting cycle time reductions from 5 days to 7 hours
• Sales productivity increases from 30% to >70%
• Reductions in rogue discounting of ~25%