Are your customer relationships working for you or against you? Or to put it another way, when it comes to your customer agreements, there’s what you know, what you think you know and the truth.
Say you’ve contracted pricing for Customer X at a discounted introductory rate for nine months. It’s in the signed contract. But your new account manager thinks the pricing agreement is for 12 months. Because that’s what the billing system has (mistakenly) indicated. So your most recent invoice to Customer X still reflects the reduced rate instead of the correct price—a loss of $400K in revenue for a single month. That’s significant. And it’s unacceptable, wouldn’t you say?
And this is just one example of these missed opportunities each quarter, millions of dollars in price increases go unnoticed, renewal opportunities go un-worked and minimum commits are not met. That adds up fast.
It seems like this should be an easy case of reconciling one contract with one billing system. But the problem we discovered at Pramata in talking to countless large-scale B2B companies is that customer data is much more diverse and complex than that. And historically, if you want the truth, it takes a concerted all-hands-on-deck kind of effort that you and your staff just don’t have the time and bandwidth for and your current internal systems aren’t made to do.
This is where we come in. Pramata Customer Relationship Intelligence (CRI) bridges the information gap inside your current IT infrastructure. It mines the valuable hidden data within your B2B customer contracts, synthesizes that data with relevant information from your billing systems and CRM applications and delivers it in the most meaningful context for your finance, sales and legal teams. Mine, synthesize, deliver, repeat. That’s our process mantra.
You might be wondering why you can’t accomplish this with your business intelligence, CRM and contract lifecycle management tools. Those systems have their purpose, but they lack the unique connective tissue that pairs hands-on expertise with expert automation—then keeps that process in constant motion.
With this complete digital view of actionable customer insight, it becomes routine to capitalize on pricing increases, discount expirations, cost pass-throughs and many more untapped opportunities within your most valuable customer relationships.
No more millions in quarterly revenue left on the table. And best of all what you know to be true, really is.
Let us show you How it Works.