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Case Summary
A process improvement SAAS ensured 33% improvement in EBIDTA for a medical device company
Problem Statement
A Medical device company have multiple grades of accounts and their prospecting system for these different grades of accounts would be different along with different team managing the prospecting system. While they use multiple technologies for mapping their sales force; account based prospecting remains a challenging area especially for the Grade A Accounts
Approach
As account based management generally depends on the needs and the behaviour of the account decision making process. Some accounts may have easy entry process but closure becomes a difficult part and for others entry may be more difficult than actually the closure part. Again the sales managers further have differential skills in deal initiation and deal closures. Again, learning across the different sales stage of the sales cycle across 1000s of sales meeting with these account decision makers not only create a powerful sales book but may also help in creating better training modules for future sales agents. Product wise modelling may also help in better territory or account based management.
Interventions Done
Sales Gate Optimizer, a powerful BI tool was created to convert standard interactions in every sales meeting to institutional learning. Complete sales cycle was mapped into deal conversion phases.
- Every account and every sales team member was evaluated for the performance on the KPIs of deal conversion phase.
- The Deal phase were timeline and accounts movement for sales cycle was evaluated for its timeliness as well as profitability.
- BI also ensured that learning module ensured timely issue resolution at account and sales manager level.
- All accounts and all sales manager performance was also mapped for the inventory movement for the different products, especially mapped for the A graded accounts
Outcomes Achieved
Testimonials
