Piecing together a single source of truth
If you hear the words “commercial relationship”
and think “I can find that in our CRM,” think again.
A commercial relationship goes much deeper than the customer snapshot you’ll find in your sales or billing system alone. It represents a complete understanding of the most current terms, entitlements and commitments you have in place with a customer:
the products or services the customer currently owns
how those may differ by customer site
pricing terms and discounts in place
any non-standard or specially negotiated deal terms
renewal dates by product and by contract
These critical details span a multitude of documents and systems—master agreements, amendments, invoices and historical billings.
Even if you can find and piece together all the relevant information, how do you maintain an accurate view of the relationship in the face of constant sales and billing changes?
Commercial relationships are dynamic, and that means your method for establishing and maintaining an up-to-date view of those relationships must be just as dynamic. Accomplish this and you have a systematic process to:
The alternative? Millions of dollars in revenue leakage will continue to seep from your existing customer relationships every quarter.
The question is where are your leaks and how do you stop them?
The more you know about revenue leakage,
the faster you can stop it. Read on!