Go beyond revenue transformation in 2025 with Total Commerce.
Read on for the compelling business benefits, where to begin, and how to prioritize the process.
Revenue transformation is an essential building block.
Revenue transformation refers to the shift businesses are currently undergoing to make their revenue-generating processes more productive and efficient. Revenue transformation empowers Sales to more easily quote complex products and services. It also supports subscription-based and recurring revenue selling models. Revenue transformation unifies selling systems and processes, automates pricing and quoting, accelerates the revenue cycle, increases sales, and creates predictable income streams.
Total Commerce takes revenue transformation to the next level.
Total Commerce is where Pierce Washington’s enterprise clients want to go from a sales and customer self-service perspective. Total Commerce is a set of data and process improvements plus a suite of applications that support new selling models and provide next-level customer self-service.
Total Commerce enables organizations to better serve their customers by making it easier for those customers to learn about and buy products and services, and manage their relationship with more and better self-service. Total Commerce is also about omni-channel alignment—intelligently combining direct-, partner-, and self-service channels. The result is a simplified quoting and buying process that reduces margin and revenue leakage, and the time it takes to quote and sell.
Traditionally, CPQ solutions have focused on providing sales reps with tools to more efficiently quote and sell products. Total Commerce extends this capability to end customers. so, they can configure highly complex products and get better educated before engaging sales teams. Customers can place orders, check the status of orders and invoices, order parts, purchase subscriptions, amend subscriptions, and more.
Total Commerce is as game changing as it sounds.
Total Commerce is one of the most impactful and ROI-positive investments a business can make. Following are some of the business benefits of adopting Total Commerce.
Make your business easier to buy from.
Companies are looking to do business with companies that provide a superior customer experience and self-service today, even in the B2B space with complex products. Providing your customers (and partners) with the a Total Commerce self-service experience empowers them to configure products and services exactly how they need them, buy new products and services, and renew their products and services—all with greater speed, accuracy, frequency, and autonomy.
Increase revenue and margin.
Selling smarter, eliminating friction in the buying and subscribing process, embracing new recurring-revenue models, and
identifying upsell opportunities with Total Commerce actively drives top-line revenue higher across all channels. These efficiencies also increase margin as fewer mistakes are made during the sales cycle that result in incorrect pricing, as well as post sale product having to be sent to a customer for free. Sales reps also have more time to focus on finding new customers and making more sales.
Deliver trusted pricing and product information everywhere.
With Total Commerce, accurate pricing has to be available, accurate, and consistent across sales channels. Modern selling models, like XaaS, make the pricing problem more challenging as amending subscription contracts happens quite often. Also, customers want to have the ability to do self-service contract amendments which requires consistent subscription contract and pricing data across all channels. In addition, customers often have multiple price contracts. A solution that charges the right price based on the correct contract is critical. So, regardless of sales channel (direct, partner, dealer, e-commerce, or self-service), Total Commerce ensures that your customers and partners get the right price every time.
Improve revenue recognition accuracy and compliance.
Accounting regulations, like ASC-606, continue to evolve and change. With Total Commerce, we capture the information at the front end of the quoting and buying process. You can be confident that every transaction will properly recognize the revenue for that transaction. As revenue recognition information flows downstream to accounting, there’s minimal, if any, manual work that needs to be done to ensure that all information being reported is accurate and compliant. Your accounting team will appreciate not having to spend time and energy ensuring accuracy.
Reduce operational cost of sale and leakage.
A Total Commerce self-service portal reduces the cost of sale by enabling customers to visit your website, learn about your products, configure solutions, purchase products and subscriptions, and modify existing ones. All of this can be done without sales-rep involvement, leaving reps time to focus on new customers and more strategic sales. Total Commerce also reduces the cost of service. Total Commerce provides customer and partner portals that have order, invoice, and subscription information, plus other relevant data from the ERP. With Total Commerce, all this can be presented to your customer in a much more user friendly way, while significantly reducing the need to call Customer Support or Sales for help.
Total Commerce is a process. Prioritization is key to success.
Keep in mind the following. A) Total Commerce is a journey, not a destination. B) There’s no single right way to achieve Total Commerce. Every company’s business model, current system landscape, and priorities are different. That said, Pierce Washington has developed a Total Commerce Maturity Model (TCMM) to help companies understand where they are from a maturity perspective. By identifying your current maturity, we can develop a roadmap to help get you to the desired future state. Following is a very high-level overview of the six-step Total Commerce maturity model.
NOTE: Phase 1 is always the first step in assessing the maturity of an organization. Phases 2 – 4 can be done in whichever order makes the most sense for a particular organization based on their priorities.
Phase 1. Quote to Cash Foundation
Start with product modelling, process and XaaS definition, a roadmap and execution plan, and data clean up.
Phase 2. Automate Internal Sales & Billing Processes
CPQ for structured sales processes across internal sales channel, and add subscription billing if applicable.
Phase 3. External Sales
E-commerce for customers to order spare parts and simple items and partner portals for channel partner quotes.
Phase 4. Connected Sales Processes
Introduce more complex, configured sales experiences for customers and further enable customer and partner portals for more and better self-service.
Phase 5. Integrated Sales Processes
Go to the next level with MDM, IoT, iPaaS, and CRM through ERP integration for unified quote-to-cash experiences across every channel.
Phase 6. Optimized Sales Processes
Embrace and deploy AI/ML Revenue and CSAT optimization for real-time monitoring and process improvement.
Don’t worry, you’re not behind the Total Commerce curve. (In fact, you’re in the right place at the right time.)
Understand that B2B companies are in the early innings of Total Commerce. Most companies we work with are either trying to get their future state quote-to-cash (Q2C) business process and data defined, or they’ve implemented one or two of the applications that support this process. Very few companies are at a maturity level where they are ready to start bringing all these pieces together to present a holistic, consistent Total Commerce experience for their customers. However, there is a growing body of evidence in the analyst and consulting communities that Total Commerce will be mandatory for B2B companies to stay competitive and meet the evolving expectations of customers. So, you’re not behind or late to the game yet. Many of your competitors are in phase one or two of the Total Commerce Maturity Model. The important thing is to identify your current level of maturity and have a roadmap and plan to move your organization up the maturity curve. Start now and you can surpass and outflank your competitors. You’ll also dazzle your buyers with a more modern customer experience than they get elsewhere.
Total Commerce Maturity Model
Contact PW for an assessment of your revenue transformation with Total Commerce.
If you’re ready to experience the revenue growth, margin expansion, and cost savings that Total Commerce provides, let Pierce Washington show you the way. The first step is simple and costs nothing. Contact us. We’ll assess where you are currently and where you want to go as an organization when it comes to providing more and better self-service for your customers. Then we’ll preview how Total Commerce can benefit your business and bottom-line.