The digital transformation has touched nearly every industry. Sales and revenue operations have turned to technology seeking new and more efficient ways to accelerate revenue,close deals, and manage B2B pricing challenges.
Quick and easy implementation of best-in-class solutions and automated processes mean less revenue leakage and manual overhead, better pricing management, and faster revenue expansion. To gain better insight into these operations in 2021, Pavilion teamed up with CPQ & revenue amplification platform Dealhub to ask more than 100 revenue leaders how they deal with B2B pricing challenges and manage their technology tools.
With more than 1,000 sales tools to choose from, organizations have an overwhelming array of options for supporting their sales teams. However, 89% of surveyed companies report using less than 11 sales tools, which suggests that the majority choose to move toward single platforms that consolidate sales spending and focus on connecting their stack through buying tools that serve multiple functions.
The report looks into how much money B2B companies typically spend per sales rep on tools and how much time it takes sales teams to send price and quote proposals. The report also details how organizations deal with inefficiencies around margins, discounting, and subscriptions.
For those who’ve yet to adopt popular sales tools, onboarding complexity is the most significant barrier. The 2021 Benchmark Report delves into this topic while highlighting the industry’s biggest challenges in managing its sales stack. They include:
Connecting the sales stack
Inefficiencies around margins, discounting, and subscriptions
Price quote automation
Poorly managed subscription revenue
While the challenges to adoption are significant, the report explains how revenue leaders who embrace digital transformation have increased the success rate for quotes and proposals and accelerated time to closed-won.