November 8, 2017 by Alex Cohen
Apttus-commissioned Research Spotlights Urgency to Utilize Artificial Intelligence Technologies Now; 3 of 5 Business Leaders Pin Future Success on AI Adoption
SAN MATEO, CA – November 8, 2017 – Apttus, the global leader in Quote-to-Cash and Contract Lifecycle Management solutions utilizing artificial intelligence, today unveiled results from a study commissioned with Harvard Business Review Analytics Services. The findings reveal increasing urgency – and action – among business leaders to incorporate AI into their most critical revenue-generating and commercial operations.
The study, “Artificial Intelligence for Boosting Revenue Generation in the B2B Enterprise,” includes nearly 500 business executives and thought leaders, including representatives from Goldman Sachs, IBM, Lenovo, Morgan Stanley, Microsoft, and Nasdaq. The study captures the latest state of developments in applying AI initiatives within leading businesses. Key highlights include:
- Three of five (60%) believe their future success depends on AI implementation.
- Almost all respondents (97%) expressed a need for machine learning.
- More than half (52%) understand the benefits AI will bring their organizations.
- Almost two of five respondents (38%) say their leaders can articulate an AI strategy.
- More than four of five (82%) executives surveyed who leverage machine learning have noticed an impact due to improvements in predictive analytics.
- About half (48%) are already exploring use cases for AI technology.
- More than one-third (36%) are piloting or in production with AI technology.
- One in four (26%) are testing AI technology.
- Almost one-third (32%) of respondents have a time table for launching AI projects.
Over the past 10 years, Apttus has defined and created the Quote-to-Cash industry, the vital business process driving revenue generation and management of all of a business’ commercial relationships. This process impacts the return and value of costly investments in customer relationship management (CRM) and enterprise resource planning (ERP) systems. Today, with AI products like Max, Apttus has pioneered the use of AI to B2B contract and revenue operations, recognizing early on that as a force multiplier, AI will have a tremendous impact on the business world.
According to Predrag PJ Jakovljevic, principal analyst at Technology Evaluation Centers (TEC), “Apttus has been a leader in Quote-to-Cash software for over a decade and is uniquely qualified to help enterprises dramatically improve these processes by providing advanced artificial intelligence technologies like Max, its conversational Quote-to-Cash intelligent agent utilizing, machine learning, and augmented reality. Nowadays, intelligent software solutions like Max can level the playing field for more sales employees and raise the performance of sales organizations.”
“These findings reinforce our belief that leading executives across every industry are tuned in to this movement, are adopting AI, and developing strategic capability and building on their early results,” said Kirk Krappe, Apttus CEO. “These early movers are gaining ground in their industries and will consolidate their wins versus their competition, to create differentiating competitive advantages. They are to be applauded and looked to as an example by others who seek to lead.”
To learn more about the HBR study, down the full report “Artificial Intelligence for Boosting Revenue Generation in The B2B Enterprise,” or watch the session recording from Microsoft Envision 2017 entitled, “Leveraging Applied AI to Accelerate Digital Transformation and Maximize Business Outcomes.”
Apttus, the category-defining Quote-to-Cash and Contract Lifecycle Management technology company, drives the vital business process between a buyer’s interest and the realization of revenue. Utilizing a patented combination of SaaS-based applications, the Apttus Intelligent Cloud maximizes revenue and business outcomes for companies of all sizes, including 100 of the Fortune 500. Enhanced by Machine Learning and Max, an Intelligent Agent, Apttus applications include Configure Price Quote (CPQ), E-Commerce, Contract Management, Incentives Management, Renewals, Billing and Order Management. The Apttus Intelligent Cloud is powered by the world’s most trusted cloud platforms, including Salesforce and Microsoft Azure. Apttus is based in San Mateo, California, with additional offices located across the globe. For more information visit: apttus.wpengine.com.