09 Jul How a catalog-driven approach improves sales and finance
Increase the efficiency and productivity of your sales and your finance teams through a catalog-driven approach to revenue operations.
As we have described in a previous blog, the end goal of revenue operations is to break down the siloed functions of passing customer data from department to department and system to system and transform the buying experience into one go-to-market model providing a faster, more personalized customer experience while accelerating new revenue streams and providing a single source of truth for customer data to all revenue-producing roles in your organization.
Understanding each step in the revenue operations chain by product type is key to controlling your business and optimizing your overall revenue operations chain. Companies sell different types of products. They might sell transactional products, they might have subscription products, they might have usage products and be on the cusp of selling services products. Each type of product has its own revenue operations chain that needs to be optimized.
The main point of taking a catalog-driven approach is to know what you sell, simplify your product set so you can navigate the configuration process for it, and make it as easy as possible for your sales rep who is trying to quote all of the different product types at the same time.
Once you have each stage of the revenue operations chain optimized, you have a better idea of how your ERP looks at your product catalog, and how your CRM looks at your product catalog and you can have a strategy in making sure the ERP and CRM communication is congruent eliminating reconciliation issues and improving the efficiency of the finance team.
Contact us here to set up a consultation with one of our revenue operations experts.