Ludovic Leforestier’s Post

The RFP is DEAD! – Long Live ICP and Use Case Scenarios! That was the pretty bold conclusion from the wicked smart analysts at MGI Research in their webinar today “Get More Value from ICP.” ICP stands for Ideal Customer Profile. Question for AR pros and vendor sales & marketing teams: Do you agree? Is the RFP dead? Should it be dead? Procurement processes and RFP/RFI are catnip to me as I have written about this since my corporate IT days before joining Gartner. In fact, my very first set of five research notes with a Top View at Gartner were on the RFP / RFI process. Later I earned a Gartner Silver Research award for developing the standard 30-page RFP for customer service contact center software procurements. So, you would think that I would be defending the RFP, but no, I agree with Andrew Dailey and Igor Stenmark. MGI had some eyebrow raising numbers in the webinar that highlighted · The cost of conducting formal evaluations is approximately 2% of the purchase price ($41.6 billion per year) · 15% of all tech purchases end up churning out within 24 months ($6.2 Billion wasted) According to Andrew and Igor, the problem is that the RFP concept has long outlived its usefulness. One of the big problems is that the typical RFP is a long list of features and functions that every vendor can check “Yes” to every item. This does not give the tech buyer any relevant information and insights so in essence the months spent working on the RFP were a waste of time (see first bullet above). On the flip side, RFPs are a huge burden to vendor sales teams which has led to dedicated deal desk headcount and RFx application purchases to help manage RFP replies. Waste of time and money all around. What tech buyers should be doing is ditching the RFP / RFI / RFQ (RFx) process all together and move to ICP and Use Case Scenario. The ICP helps buyers and vendors describe their DNA and is the first place to start in evaluations. The Use Cases describe critical capabilities in a context of consumable requirements (e.g., inputs, outputs, expected outcomes, et cetera). This will inform the vendors on how to position their products’ capabilities and form the basis for the proof of concept (POC). There was a lot of good discussion around ICP and Use Case, so I encourage you to watch the replay (link below). Questions: What do you think of tech buyers using ICP / Use Case approach instead of RFP? Do you think it would result in better outcomes for both buyers & vendors alike? Free replay https://lnkd.in/gv_4sMsC MGI newsletter “The Margin” https://lnkd.in/gnXPtpdn #monetization #subscription #billing #RevRec #CLM #CPQ Chris Germann Prash Chandramohan Lubor Ptacek Mark Heller Greg Wind Patricia Wind Robin Schaffer Ludovic Leforestier Duncan Chapple The Skills Connection SageCircle The IIAR> (Institute of Influencer & Analyst Relations) Simon Jones Robert Karel Sarita Kincaid #ARchat #AnalystRelations Dee Acosta 📱Jodie Ohr Dan O'Brien Misti Lusher

Are you a service provider or technology provider seeking to become a trusted partner in the CCM market? If so, you may benefit from the competitive customer insight and support offered by Madison Advisors’ Continuous Advisory Services (CAS), which includes: -General opportunities – Informing service and technology providers about RFP opportunities as part of a formal vendor selection process -Exclusive opportunities – Identifying a strategic fit with a prospect and reaching out to service and technology providers exclusively -Sales acceleration – Assisting in expediting the sales process with an existing prospect when third-party perspective is required. Sound interesting? Learn more about CAS at our website here: https://loom.ly/ByeIQGg #RFPs #ServiceProvider #TechnologyProvider #GoToMarketSupport

Before Kaseya Quote Manager, Impulse Data created quotes with manual spreadsheets after consulting four to six supplier websites for pricing and availability. Kaseya Quote Manager streamlined operations, improved accuracy, and enhanced client satisfaction, ultimately contributing to increased sales and a more efficient workflow. Read Impulse Data's story here: https://bit.ly/3Pan0fb #ITops #CustomerSuccessStory

Where Should Your Business Focus First to Increase Efficiency? It’s a question we hear all the time: Which process or area should our business focus on first to drive efficiency? And why? From the outside, it might seem like an easy answer. But inside a business, you’re living and breathing the pain points every single day. Your team feels these pain points daily, and everyone has their own idea of what's clunky or cumbersome. Our answer to this question: Order to Cash (O2C) EVERY. SINGLE. TIME. Same answer. Start with your Order to Cash process. It’s more than just a workflow; it’s the heartbeat of your entire operation. If you nail the O2C process, everything else flows from there. Think about it: ➡ Does it matter how you categorize a lead if you can’t even get it into your CRM correctly? ➡ Does it matter if you send out customer satisfaction surveys when you can’t track or deliver a project successfully? ➡ Does it matter if you create beautiful invoices if you can’t efficiently send them out? Here’s why the O2C process is the foundation and where we believe you should start: ✅ Revenue Predictability: A streamlined O2C process ensures cash flows in reliably, enabling accurate forecasting, budgeting, and investment planning. Without it, growth becomes guesswork. 🛠️ Customer Experience: Every touchpoint in the O2C cycle—from order placement to final payment—shapes your customer’s experience. A single misstep can turn a loyal client into a lost opportunity. ⚡ Operational Efficiency: Inefficiencies in O2C can lead to billing errors, delayed collections, and strained resources. Getting it right means faster payments, fewer disputes, and lower costs. 🔍 Data Insights: The O2C process is a goldmine of data. If you’re not capturing and analyzing it, you’re missing out on insights that could drive growth, innovation, and competitive advantage. 🚀 Scalability: As your business grows, so do the complexities of managing cash flow, inventory, and customer relationships. A robust O2C process scales with you, allowing for growth without sacrificing quality or speed. In a world of tight margins and high customer expectations, businesses simply can’t afford to get the O2C process wrong. It’s not just a back-office function; it’s the backbone of your business strategy. Is your O2C process setting you up for success? Do you have the right platform to scale your business? Let’s discuss how to make sure it is.

Set S.M.A.R.T. goals for a business: 1. Specific: Increase monthly website traffic by 25% within the next six months. 2. Measurable: Achieve a 15% increase in quarterly sales revenue compared to the previous quarter. 3. Achievable: Launch two new product lines by the end of the year to expand the company's offerings. 4. Relevant: Improve customer satisfaction ratings by 10% by implementing a new customer service training program. 5. Time-bound: Reduce product delivery times by 20% by the end of the fiscal year through process optimization and automation. By setting S.M.A.R.T. goals, businesses can establish clear objectives that are specific, measurable, achievable, relevant, and time-bound, facilitating better planning, execution, and evaluation of progress.

Entering Level 2 and Level 3 data when processing corporate or purchasing cards is important for several reasons: Lower Interchange Rates: Providing Level 2 and Level 3 data can qualify transactions for lower interchange rates. This can result in significant cost savings for businesses processing a high volume of corporate or purchasing card transactions. Enhanced Reporting: Level 2 and Level 3 data include detailed information such as purchase order numbers, item descriptions, and tax amounts. This enhanced reporting helps businesses and their clients with better expense tracking and management, making reconciliation processes more efficient. Reduced Risk of Chargebacks: Detailed transaction data can reduce the risk of chargebacks by providing more information for both the buyer and the issuer to verify the legitimacy of the transaction. Improved Customer Satisfaction: Providing detailed transaction information can improve transparency and trust with clients, leading to increased customer satisfaction and stronger business relationships. Compliance and Accuracy: For businesses dealing with government or large corporate clients, providing Level 2 and Level 3 data can be a compliance requirement. Accurate and detailed data helps meet these requirements and avoid any potential penalties or issues. By entering Level 2 and Level 3 data, businesses can achieve cost savings, improve financial reporting, enhance customer satisfaction, and ensure compliance with client and industry requirements. Book a zoom to find out more www.calendly.com/jsaluk

Set S.M.A.R.T. goals for a business: 1. Specific: Increase monthly website traffic by 25% within the next six months. 2. Measurable: Achieve a 15% increase in quarterly sales revenue compared to the previous quarter. 3. Achievable: Launch two new product lines by the end of the year to expand the company's offerings. 4. Relevant: Improve customer satisfaction ratings by 10% by implementing a new customer service training program. 5. Time-bound: Reduce product delivery times by 20% by the end of the fiscal year through process optimization and automation. By setting S.M.A.R.T. goals, businesses can establish clear objectives that are specific, measurable, achievable, relevant, and time-bound, facilitating better planning, execution, and evaluation of progress.

Interchange plus is considered a superior pricing model to tiered pricing for several reasons: Transparency: Interchange plus pricing clearly separates the interchange fees (set by card networks) from the processor's markup, making it easier for businesses to understand exactly what they are paying for each transaction. Cost Efficiency: Interchange plus often results in lower overall costs, as businesses only pay the actual interchange fees plus a fixed markup, avoiding the higher rates and hidden fees that can be associated with tiered pricing. Fair Pricing: With interchange plus, each transaction is charged based on its specific interchange category, ensuring businesses are not overcharged for lower-cost transactions, unlike tiered pricing which can lump transactions into broad, more expensive categories. Better Negotiation: Businesses have the ability to negotiate the processor's markup separately, potentially securing better rates and further reducing costs. Consistency: Interchange plus provides consistent and predictable pricing, helping businesses budget and manage their expenses more effectively. By offering greater transparency, cost efficiency, and fair pricing, interchange plus is often the preferred choice for businesses looking to optimize their payment processing costs. Find out more www.calendly.com/jsaluk

The advantages of a robust CSP (Customer Success Program) are clear. When vendors put these formal processes into action, they become genuine partners and extensions of their customers' teams. Through teamwork and the use of cutting-edge financial tools, vendors become trusted partners to help their customers maximize their business goals attainment in a dynamic and competitive environment. #CSP #CustomerSuccess #CustomerAdvocacy

By 2024, fewer than 1 in 10 organizations will deploy an automated, integrated #CPQ and optional contract management system, reducing their competitiveness and resulting in poor initial customer experience, says Stephen Hurrell. https://bit.ly/3wbb0QC #OfficeOfRevenue #RevenueManagement