May 1 by Eric Dreshfield
B2B is becoming more like B2C every day
Competitive landscapes are changing as commoditization increases from:
• Shifts to online seats (E-Commerce sites displacing brick and mortar businesses)
• Lower barriers to entry (accelerating routes to business for competitors)
• Expanding pools of suppliers of goods/services, both domestic and foreign
An integrated global economy permits new innovations to appear from unexpected quarters in the form of disruptive products and business models. As a result, product differentiation, intellectual property advantages, and margins are always vulnerable to the abrupt emergence of alternatives.
Today’s enterprises are forced to navigate and manage:
• A proliferation of sales channels
• Increased demand for mass customization
• Rapidly evolving business and pricing models
• More global competition and commoditization
• Rising market volatility
• rapidly evolving customer expectations and preferences
• Increasing regulations
Customers with rising expectations demand immediate gratification and solutions personalized to their needs. Often this means the ability to access services and goods practically in real time, through technologies like social media, mobile applications, and augmented reality.
Many enterprises remain largely unprepared for this new normal of fluid, fast-changing, and challenging markets. Underinvestment in Quote-to-Cash is a key factor inhibiting their capacity to respond to market changes and generate growth. These shortcomings point to the need for a fundamental change in the way companies engage customers and compete in their industries.
Harness Quote-to-Cash to Drive Optimal Business Outcomes
Regardless of the headwinds they face, executive teams must deliver on corporate goals and produce business outcomes that meet or exceed the expectations of shareholders. They are accountable for the results that their businesses are able to achieve within well-defined fiscal periods. Hence, the CEO, CFO, other members of the C-Suite and their direct reports give top priority to four major issues:
• Revenue – generate sales that allow the organization to consistently grow and gain market share
• Profitability – secure returns from the sales team for backers and for reinvesting in the business
• Customer experience – improve ease of doing business for customer to increase market share, customer satisfaction, and repeat business
• People – gain greater productivity from staff by encouraging collaboration and alignment of behaviors with corporate objectives