August 27, 2014 by Robert Gonzales
SAN MATEO, Calif. – August 27, 2014 – Apttus, the category-defining Quote-to-Cash solution provider, today announced the findings of an eye-opening sales survey conducted in collaboration with Adobe, provider of Adobe EchoSign, an industry-leading e-signature solution.
“We have been listening and delivering to our customers’ need for quoting, pricing, contract management and renewals to be managed as one seamless process. Past investments in legacy platforms and on-premise solutions have failed to deliver on their promises,” said Kirk Krappe, CEO of Apttus.
The survey findings include several key insights:
- Half of all respondents admitted that their company had experienced costly mistakes as a result of errors in the sales quote-generating process.
- Four in ten companies revealed that they require more than two days to generate a sales quote, resulting in delays and lost sales opportunities.
- Nearly half of companies surveyed, without an e-signature solution, required one week or more to finalize contracts, while nearly one third of companies with an e-signature solution reported closing contracts in one day.
- Each year, inefficiencies uncovered in the survey contribute to an estimated loss of millions in top-line revenue for these top brands. Simply streamlining contract renewals with an e-signature solution could contribute to revenue growth of 15 percent or more.
After detailed analysis of the survey findings, Apttus and Adobe segmented the data into five distinct categories, deemed “blind spots,” that when ignored can create inefficiencies and outright mistakes within the sales process. These blind spots include:
- Lack of internal visibility within sales – 20 percent of companies were unable to estimate their sales win rate.
- Delays within the quoting process – 40 percent of companies take three days or more to generate a quote.
- Costly quote inaccuracies – 50 percent of companies admitted costly inaccuracies and mistakes within the quote-generating process.
- Inability to effectively sell – 33 percent of respondents missed cross and upselling opportunities to existing customers.
- Poor results due to communication – 20 percent of companies reported serious issues forecasting revenue, attributable to communication issues along the entire sales funnel.
Notably, each of these scenarios can be improved via the strategic implementation of an automated Configure Price Quote and Contract Management solution, both of which are included within the Apttus product suite, which incorporates Adobe EchoSign offerings to legally send, sign, and manage documents electronically.
“Apttus products were created to solve the issues brought to light by this study, to infuse speed and efficiency into a traditionally problematic aspect of running a profitable business,” said Kamal Ahluwalia, chief marketing officer at Apttus. “Organizations that prioritize CPQ and contract management are already experiencing the benefits of shorter sales cycles, greater sales velocity, and fewer obstacles to reaching their revenue goals. These survey results demonstrate even further the cost of going without such necessary tools.”
“This survey brings to light some of the most critical blind spots affecting sales processes—and the potential resulting revenue loss—even within the world’s most successful companies,” said Jon Perera, vice president and general manager, EchoSign, Adobe. “Apttus CPQ and Adobe EchoSign give companies visibility into, and greater control over, these blind spots enabling exceptionally fast revenue growth, not possible with current solutions.”
Apttus, the category-defining Quote-to-Cash software company, drives the vital business process between the buyer’s interest in a purchase and the realization of revenue. Apttus is delivered on the Salesforce1 Platform, the world’s most trusted and comprehensive cloud delivery infrastructure. Applications include Configure Price Quote (CPQ), Renewals, Contract Management and Revenue Management. Additionally, Apttus’ patent pending X-Author technology enables Microsoft Office to be a user-interface with full interaction and control between Salesforce and Microsoft Office. Apttus is based in San Mateo, California, with additional offices in London, UK, Bozeman, Montana and Ahmedabad, India. For more information visit: apttus.com.
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This news release contains forward-looking statements that reflect the Company’s expectations with regard to future events. Actual events could differ from those anticipated in this document.