Lead to Cash process in fast growing companies is a hot mess! Emails, documents and informal messaging channels dominate the process with product catalogs and price books created in spreadsheets, contracts created in Google docs. The lack of control over versions and inability to add approval workflows means no guardrails and unwarranted free wheeling by the sales reps.
Reps often miss relevant products, ignore non-standard clauses and constantly require intervention from the legal and finance teams who may not have the right context. As for renewals, well, spreadsheets just cannot accommodate them.
To stop the free wheeling due to spreadsheets, subscription businesses take to CPQ… which are great. You can configure the most complex of products, provide the best product mix, even have approval workflows! The catch? You need an admin, get your reps who hate new things thoroughly trained and spend a lot.
But, is the hassle worth it? No. Seldom do subscription companies have that level of product complexity. Moreover, CPQ stops at the proposal or quote, and do not consider NDAs, MSAs, DPAs or CSAs. Companies end up purchasing a separate document management system which end up meaning more money, time and resources.
A deal desk optimizes the deal creation cycle and focuses on all aspects of a deal. It seamlessly merges the building blocks of a deal – Products & Pricing, Clause Management, Collaboration and Approval Workflows into an intuitively blended system. This makes sure that not just your process but also the tool align with your organization’s sales strategy.
Spot the gaps in sales pipeline to improve topline revenue. See every deal-related aspect such as standard/non-standard clauses, product/pricing quoted, deals getting in, deals getting out and sales contracts under one virtual roof for maximum impact.
Get a grip of what your reps are doing, who can see what, who can access what for low noise and high efficiency. Drive adherence to process, control outbound changes in contracts and make sure that your sales deals are great not just for your customer but also your company.
Forecast your renewals and deal risk. Steer your sales reps back into course with game-changing insights and uncover key data that drives growth. Leverage your winning patterns to make your deal a bigger deal! Create accurate forecasts with real time data and drive operational improvements.
Know what you are looking for! Prioritize your time with action based triggers that enables different engagement for third-party uploads and template-based documents. Hit the nail on the head with risk assessment and predictions of the past deals. Apply workflow to non-standard deals/clauses or automate them with pre-created workflow.