A streamlined Quote to Cash business process can do so much for your business, from improving efficiency to reducing errors to increasing revenue and customer retention.
But Q2C is just the beginning. There are powerful applications that enable your organization to deliver beyond Q2C. Total Commerce harnesses the power of these applications, integrates them, and provides a better experience for both you and your customers.
What is Total Commerce, and What Can It Do For Your Business?
Total Commerce is a comprehensive set of functional capabilities, business process improvements, and a suite of applications that work together to help you better serve your customers.
By intelligently combining direct, partner, and self-service channels, you’re able to provide more compelling self-service to your customers. The goal is to help them learn about your products, configure your more complex products, purchase products on-line, and purchase add-on products or services that are compatible with the products and services they already own.
The benefits of implementing Total Commerce include:
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- Increased revenue across all channels
- Improved margins
- Reduced friction across the entire buying process
- Support transition to XaaS and recurring revenue models
- Increased visibility of new self-service channels
- Trusted pricing
- Accurate compliance and revenue recognition
- Lower operational costs of sale
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Ultimately, Total Commerce transforms the way you do business, streamlining internal processes and providing a better experience for your customers.
The Total Commerce Journey
Total Commerce is not a one-size-fits all solution. One company’s priorities can be different from another companies which will impact the order in which you implement. Is direct sales the biggest pain point and opportunity? Are your channel partners the highest priority? Is standing up an ecommerce channel so your customers can order parts the key driver? Total Commerce is more a journey than a destination. We tailor each transformation based on a client’s priorities and biggest pain points. This journey requires multiple steps, tailor each transformation to ensure each step provides tangible benefits to your enterprise.
Pierce Washington has developed a Total Commerce Maturity Model to help you get started on this journey. The value of our Maturity Model is to help your organization understand where you are on the road to Total Commerce and develop a roadmap to reach your desired future state.
This process encompasses multiple steps along the way:
Phase 1 – Initial
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- Process definition
- XaaS definition
- Roadmap and Execution
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The initial phase lays the foundation for a Total Commerce transformation. A successful digital transformation requires a solid foundation based on the right data, processes, and functional capabilities to ensure your organization achieves its goals.
During this initial phase, we get a holistic view of your current state, evaluating things like data issues, business process, or governance issues , or progress on a transition to more XaaS selling. From there, we develop an actionable plan to help you get to your desired future state.
Pierce Washington offers Advisory Services to help set you up for success by ensuring this foundation is in place. PW Advisory Services are based on client needs and include:
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- Master data analysis and optimization
- Q2C business process definition
- Technology gap analysis
- Q2C process and product governance
- Total Commerce Maturity assessment and roadmap
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Phase 2 – Defined
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- Ensure CPQ is structured for internal sales processes
- Automate internal sales and billing
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During this phase, we ensure that Configure Price Quote (CPQ) is structured for sales processes across internal sales channels as well as subscription billing where applicable.
Configure Price Quote (CPQ) tackles some of the biggest challenges faced by sales teams. In an ideal world, the sales team spends the majority of its time selling; in reality, however, just 34% of a sales rep’s time is spent selling.
PW tailors CPQ for your enterprise, educates on best practices, and advises how CPQ can work best for your specific use cases. CPQ results in impressive business outcomes, including:
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- 65% reduction in labor to support quote process
- 1-5% reduction in operating costs
- $1 Million increase in quarterly net margin ($1B Company)
- 92% faster initiation of new quote
- 92% faster proposal generation
- 84% faster to enter a 100-line order through the quote to order integration
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Phase 3 – Collaborative phase
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- e-Commerce for customers
- Partner portals
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The Collaborative Phase optimizes your external sales processes, introducing ecommerce for customers, allowing them to order spare parts and simple items.
B2B ecommerce is a vital component of any omnichannel business strategy. By making your products available for purchase online, ecommerce provides greater opportunities for growth and adds an additional revenue stream while reducing operational costs.
Additionally, ecommerce offers automation that streamlines the entire process Customers have the benefit of one face to the customer.
During this phase, we also implement partner portals for channel partners so they can have access to needed tools and information.
Why Pierce Washington?
Total Commerce is transformational. It requires you to change the way you do business. Such a transformation requires a partnership with an experienced consulting firm. Pierce Washington has spent the last 17 years providing end-to-end solutions for our customers to help them achieve Total Commerce and deliver beyond quote to cash.
If you’re ready to experience the success in revenue growth, margin expansion, and cost savings that Total Commerce provides, let Pierce Washington show you the way.