Pramata Tackles Revenue Leakage Epidemic with New Targeted Solutions
BRISBANE, Calif. – May 10, 2018 – Pramata, the leading commercial relationship operations company, today announced its Spring ‘18 Release, which features four new targeted solutions that enable large B2B enterprises to eliminate widespread revenue leakage across the customer lifecycle.
“We are very excited to share these new targeted solutions with our customers and prospects,” said Justin Schweisberger, Pramata’s Chief Product Officer. “Revenue leakage stemming from deals that aren’t billed correctly, are mispriced or are overly-discounted is sapping customer lifetime value and we intend to help our customers stop it.”
The potential for revenue leakage exists all along the customer lifecycle, specifically at four key points of inflection. Pramata has developed four specific solutions to target these areas that take full advantage of the company’s next generation platform:
Billing Accuracy: Eliminate Revenue Leakage with Every Invoice
Without access to the current pricing and commercial terms related to a specific order or service, missed revenue and customer under-charging can reduce revenue by 2% (hundreds of millions in revenue) annually.
Pramata’s Billing Accuracy solution connects commercial terms from MSAs, amendments, order forms and more to billing accounts. Pramata customers know with 100% certainty they are using the latest terms to generate every invoice. By marrying commercial terms with information from order management and billing systems, price uplift dates will be automatically calculated. And a robust API framework makes commercial terms available for use in downstream systems to simplify billing processes.
Entitlement & Pricing Reconciliation: Ensure Customers are Meeting Commitments
By not regularly auditing pricing, billing and entitlements, companies expose themselves to tens of millions of dollars in missed revenue and service penalties every single year.
Pramata’s Entitlement & Pricing Reconciliation solution provides the most up-to-date summary of all pricing commitments, entitlements and service obligations for more effective reconciliations and audits. Teams can quickly assess where non-standard terms exist and compare against actual billings and performance to ensure they realize the full value of their relationships.
Deal & Order Acceleration: Accelerate Deals with Current Customers
When it comes to selling to existing customers, finding the right MSA, determining current pricing, and applying the right discounts can add weeks to a sales cycle. This challenging process also wastes active sales time, while leaving companies exposed to over- or under-discounting. For companies with a significant percentage of revenue from existing customers, this can add up to millions of dollars every year.
Pramata’s Deal & Order Acceleration solution ensures that all commercial documentation—MSAs, amendments, order forms, and more—are captured into an always up-to-date, accurate record of pricing commitments, entitlements, and service obligations.
Account Research & Renegotiation: Enable a More Strategic Approach to Upsell and Renewal Opportunities
Every quarter, customer renewal and expansion negotiations represent an opportunity to revisit commercial terms and improve the economics of customer relationships. Unfortunately, most companies overlook this key revenue event each time it presents itself. Sales managers struggle to prioritize growth and renegotiation opportunities across portfolios, while account managers don’t have advance knowledge of accurate cross-sell and negotiation terms within their own accounts.
Pramata’s Account Research & Renegotiation solution transforms key commercial data such as available price increases, renewal dates, active products and customer entitlements. This information is compared against a customer-specific risk model to score each term and relationship from favorable to unfavorable and to let B2B enterprises prioritize actions both across a portfolio and within an account. Account teams have a summary of current commercial terms, renegotiation recommendations, and where to sell more.