July 1 by Eric Dreshfield

middle office

Every company has its own goals and agenda for how it defines success and how it wants to do business. And every successful company realizes that in order to achieve and maintain success, sometimes their own internal agenda needs to be tempered by the needs of their customers. Because ultimately, a business can only enjoy success when their customers do.

Using Technology to Improved Productivity

“There has never been a business that succeeded without sales.” – Mark Cuban

In today’s competitive sales landscape your customers are in the driver’s seat. In order to win and keep their business, your ability to provide personalized and relevant product recommendations, accurate quotes and contracts, and a seamless, unified buying experience across all sales and engagement touchpoints is table stakes.

Your sellers must be agile and consultative—aided by artificial intelligence—and be able to utilize the most up-to-date product, pricing, customer, and performance data to craft deals that maximize value for the customer and your organization. Your quotes must provide customer-friendly offers and competitive pricing without impacting margins. Your agreements must reduce risk without eliminating flexibility. Your renewals must be frictionless with intuitive upsell and cross-sell opportunities built into the process.

In short, you must be the easiest company to do business with, and you must be able to anticipate and meet the needs of your customers—where, when, and how they choose to engage with you.

The Middle Office is the Key

The middle office is the functional area between your front office Customer Relationship Management (CRM) system, and your back office Enterprise Resource Planning (ERP) system. Its where commerce takes place in an enterprise, encompassing everything that happens from initial engagement through collecting revenue and managing commercial relationships.

At the core of the middle office are the Quote-to-Cash (QTC), Enterprise Contract Management, and Digital Commerce processes — which encompass the fundamental revenue generating activities happening across key functional areas of the enterprise. These activities include configuring the best product offerings, managing pricing, generating quotes and contracts, enforcing and meeting legal obligations, and ensuring accurate billing and revenue recognition. And in today’s digitally-connected world, this also requires self-service buying and selling options for your end customers and partners. Digital disruption has also required organizations to explore new revenue models like subscriptions, and long-term customer relationships have become the foundation of revenue growth, shifting the commercial center of gravity to the middle office.

Enterprises are now compelled to run faster and become easier to do business with. This has made automating internal processes and delivering fast, convenient digital experiences an even greater strategic imperative.

In this age of unparalleled customer centricity and business complexity, it is impossible to get the full view of your business, drive predictable results, and keep up with customer expectations without a comprehensive, leading platform for your middle office. Apttus created the first – and only – intelligent middle office platform that leverages a single data model across the end-to-end commercial process and infuses its applications with the power of AI to guide sales executives, partners, and customers to revenue-driving, risk-minimizing behaviors – from quote to contract to invoice to renewal, and beyond.

“Apttus has turned what used to be an art into precision commerce that is compliant with your portfolio and meets the needs of your customers.” – Frank Holland, CEO, Apttus

Register now to see how Apttus continues to lead the innovation of Quote-to-Cash and Contract Lifecycle Management solutions in the Middle Office. Apttus Reimagine: San Diego, September 23-25, 2019, or Miami October 21-23, 2019.

 

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