What’s Your Return On Investment?Matthew Roberts
Boulder, Colorado, November 11th, 2020 – The concept of an outdated quoting and sales process seems all too relevant, and it poses the question, “Are you ready for a change?”
As it was discussed in our article, How Sales Automation Fills The Gap, “…the sales cycle of providing quotes is manual, prone to human error, time-consuming and often customized per quote.” It’s expected that the sales cycle will be predisposed to errors, the real problem is that it’s costing you and your company hundreds of thousands of dollars or more in revenue each year. If you’re dissatisfied with your current quoting process, then the first logical first step is finding a solution to that problem.
The answer? Software sales automation.
Let’s use an example, a small Communications Service Provider has four full-time employees, each working tirelessly to generate an average of 60 wholesale connectivity quotes per month. With an average contract price of $5,000, the four full-time employees average a close rate of 5%, and using traditional, manual methods, each quote will take upwards of 1 to 2 weeks to finalize. It is safe to say, the current process is time consuming, resulting in delays for customers receiving quotes. For this particular example, a team member acknowledges that there’s a problem with their quoting process and seeks a solution.
Cataworx’s Sales Automation Platform provides a much needed solution to their quoting challenges and is composed of a suite of software services specifically designed to automate and accelerate the quoting and sales process.
Built for communication and connectivity services, Cataworx’s Sales Automation Platform manages and scales operations, providing on-demand customer insights into product offerings, empowering sales teams with the flexibility of on-demand pricing, and reporting real-time analytics of the quote-to-cash lifecycle.
The software services include quote management, enabling instant quote capabilities for communication and connectivity services; a product catalog, offering industry standard products including MEF-defined Carrier Ethernet products; a pricing engine, with configurable pricing rules to optimize run-time, dynamic and on-demand pricing options; and an analytics engine, providing analytics reporting into the sales process and quote management activities.
Cataworx software services can be integrated with existing Service Provider IT and business systems through an Application Integration Service, enabling a “bolt-on solution” for existing systems.
If the same small Communications Service Provider with four full-time employees, generated the same amount of wholesale connectivity quotes per month, with the same average contract price and close rate but then decided to automate 35% of their quote process using Cataworx’s Sales Automation Platform, they would experience a significant return on investment, a faster quoting process and an overall increase in efficiency and net revenue. Specifically, with the headcount unchanged, the results of an automated quoting process would be a 777% return on investment, a 400X increase in quote delivery time, and a $979K increase in revenue, all over a time period of 36 months.
Communication Service Providers like the small carrier above, can pursue more top-line revenue, decrease sales expenses, offer new, dynamic and on-demand services and increase the overall profitability of their sales process while offering their customers a straightforward purchasing experience.
If the answer was “yes” to the question above, feel free to contact us at firstname.lastname@example.org.
Cataworx, a telecom-focused software vendor based in Boulder Colorado, develops technology that accelerates and simplifies the way Communications Service Providers work together to connect the world and delight their customers. Cataworx’s patent-pending B2B solution dramatically decreases the typical sales cycle from weeks to seconds through a sales automation platform that provides instant-quote and order capabilities and automated inter-carrier integrations. Communications Service Providers can pursue more top line revenue, decrease sales expenses, offer new dynamic and on-demand services, and increase the overall profitability of their sales process while offering their customers a straight-forward purchasing experience.
For more information, please visit https://cataworx.com or contact us at email@example.com.