Expected 10% improvement on the company’s earnings.
8 to 10 % increment on customer retention.
Agile implementation of an integrated reporting solution.
Problem
The company is a European market leader for products and services in the packaging industry, with more than 30 years of experience. The German headquarters serves more than 4,000 customers and has a turnover in the mid-three-digit million range.
The company wanted to align the efforts of its sales team better and to enable a potential-oriented tactical approach to sales management. It was looking for a sales analytics software solution that can predict when a customer could buy more or no longer buy. Moreover, the company assumed that pricing strategies and cross-selling potential play both a critical role and needed to be included in the analysis.
For this reason, the company has set itself the goal of establishing new sales KPIs, predicting sales potential, defining and reducing customer churn. Besides, the management wanted to understand why the end prices of the hundreds of different products vary across their distribution chain and how to predict them.
After agreeing their goals with Qymatix and establishing the basis for collaboration, the company decided to implement Qymatix Predictive Sales Software.
Before working with Qymatix, the company was focusing on managing its complex customer structure direct in their ERP system. For sales controlling and reporting, they were using Excel. These two situations created overhead costs, miscommunication and frustration.
Solution
The company trusted the expertise of Qymatix Solutions GmbH in B2B Sales Analytics. First, the Qymatix team presented the customer with essential predictive sales methods used by our software, including a draft on possible results – in a half-day workshop. We also invested time in assessing together data quality and management expectations.
In less than two weeks, our team presented the customer with a descriptive, predictive and prescriptive analysis of several years of sales data. Together we studied the expected benefits of our predictive sales software for the company and how we can successfully deploy it across the entire sales organization.
The customer was able to gain valuable insights regarding churn definition and current risk, pricing analytics and sales potential due to hidden cross-selling.
Also, during a feedback workshop, senior management learned how to apply machine learning and predictive analytics for churn reduction, cross-selling and pricing.
We are currently discussing follow-up phases to this first successful implementation project. The goal is now to increase adoption by the salespeople and to operationalize the usage of Qymatix Predictive Sales Software. Furthermore, sales controlling has identified additional savings in sales reporting that the Qymatix software can help realize. Predicting customer churn, pricing potential or possible cross-selling is only half the job. Now the company needs to make sure that the sales team has the required skills to act on these insights.
Results
The Qymatix Predictive Sales Software, including its modules for Pricing Analytics and KPI reporting, helps the company to accurately detect customer with hidden sales potential or at risk of churning.
The company projects that with Qymatix Software, it will be able to significantly accelerate growth, to reduce customer attrition and to improve the implementation of its pricing strategy.
Already during the pilot implementation, the Qymatix Predictive Sales Software showed three critical insights: Dynamic pricing can lead to an improvement potential of 10% of the company’s earnings. Besides, cross-selling opportunities were identified and – finally – the company was made aware of customer losses and the danger of attrition.
“Qymatix Predictive Sales Software makes customer attrition risks and untapped sales opportunities over hundreds of customers and thousands of products easily accessible.”
Hermann Waselberger – AET Entwässerungstechnik GmbH
“Qymatix helps growing medium enterprises to find undetected business opportunities with existing customers. With thousand active ones in our portfolio, Qymatix Predictive Sales Analytics is exactly what we need.”
Daniel Schuster – Welotec GmbH
“Qymatix is how innovation works today: developed together with the end-users and with the most powerful technology.”
Peter Dern – software AG
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