Renewals and product life cycle management is a complex area of sales management, particularly when operating with global channel partners.
With an ever-increasing volume of data accumulating through its vendor lines and reseller partners, this global distributor was struggling to keep on top of its renewal and life cycle opportunities.
Grappling with multiple disconnected systems and spreadsheets to run its renewal and life cycle business, identifying and prioritizing opportunities for its resellers was like finding the proverbial needle in a haystack.
To simplify and streamline the process, the Distributor made the decision to invest in one tool that would automatically consolidate, analyse and mine from multiple sources of data from both internal and external systems.
The tool would provide a single view for partners and enable them to manage all of their renewal opportunities as well as the install base sold through this distributor.
The iasset.com platform was selected to deliver this one-stop-shop for all renewal and life cycle opportunities to the distributor’s partners.
When logging in, each reseller partner accesses data that’s only relevant to him or her. It displays a pipeline of opportunities, from warranty exits and renewals to product refreshes, helping the partner prioritize accordingly.
Through a seamless integration with the distributor’s ERP system, the data is refreshed daily with the latest sales history, ensuring the reseller always has the complete picture for its customers.
By providing a fully integrated portal, the distributor empowers its reseller partners to take ownership of the renewal process. Partners can spend more time converting sales opportunities rather than doing data checks. The distributor therefore benefits from faster quote-to-cash cycle times leading to increased revenue from its renewal and life cycle business.
The iasset.com platform has also freed up the distributor’s internal renewals sales specialists from time-consuming manual tasks enabling them to manage a larger volume of renewal transactions as well as more partners to convert them.
Today iasset.com manages the data of over 400 vendors and 18,000 reseller partners for the distributor.
iasset.com accommodates relevant price books and discount plans as determined by partner programs to deliver accurate quotes and eliminate the need for manual adjustments.
In 2016, the distributor processed approximately 51,000 quotes with a transactional value of over US$1B. To achieve this level of program scale, an automated data management approach is necessary.
With over 9 interfaces into iasset.com, data is automatically updated to ensure ongoing management of the install base data – the key to a healthy renewal and refresh pipeline.