April 4 by Elliott Yama
Backcountry sledding is done in a one-person sleigh, careening through powder-filled steeps, open mountain bowls, cutting through a scenery of trees, rocks and cliff-filled ridges. While it takes a tremendous amount of skill, it’s not how you want your sales reps to navigate customer quoting – off-course, making cuts and turns where they see fit. Deal Management, a key component of Apttus Configure Price Quote, will take customer quoting and pricing compliance out of the backcountry.
Deal Management provides system-driven intelligence that guides reps towards optimal deals by fast-tracking the deals that meet the targeted mix of products, services, discounts and commitments desired by the company. The result is better deals, more revenue, shorter sales cycles, and true strategic alignment. Rather than making adjustments on the fly, reps can see in real-time how their deals rate against company objectives, the effects of price and product changes, required approvals, and impact of the deal on their quota. If a deal rates high enough, it is streamlined and reps receive automatic approval. If a rep steers off course, discount guard rails, suggested recommendations and required deal approvals reel them back in. Deal Management creates regulation without any roadblocks, speed with reduced risk.
Instead of the backcountry, customer quoting can work more like a bobsled – team: oriented, on-course, and built for speed. And most importantly, Deal Management ensures success.
At the Apttus Center of Excellence, we have seen a variety of companies succeed though great teamwork and great solutions. Prior to Deal Management, one such company was leaving a lot of money on the table. Reps were “double-dipping” discounts up to 62%, while the managers were being asked to “do the impossible, to make judgment calls on what was a good deal without providing them with any of the necessary information.” With Apttus, they were able to change the conversation between sales managers and their reps, and in a brief pilot period saw an ROI of $2M amongst a small subset sales team.
Sales and Finance leaders can set the track, and Deal Management will give reps the push. Boost revenue by protecting margins, reducing maverick discounting, and promoting preferred products.
For a more expansive discussion on the power of configure price quote, attend my presentation of “Using the Power of Pricing to Accelerate Optimum Deals” at the Professional Pricing Society Chicago conference on May 2. If you are attending or planning to attend, check it out. If not, the conference is well worth the price of admission, gathering expert practitioners from a wide range of industries.
Click here to learn more about Deal Management.