Monthly Archives: March 2016

cash to quoteAt the Apttus Accelerate user conference, 600 legal, sales, pricing, and contract managers gathered to share knowledge and network inside the software market sector. Over 20 competing companies showed up to convince the attendees that their product was better than all of the rest.

Apttus’s Chairman and CEO, Kirk Krappe, gave the company’s performance report in an opening speech. His remarks were unique, in that he admitted that no company can avoid making mistakes, no matter their passion and capabilities.

“Apttus lost track of the customer experience which is a core value, and it was these operational growing pains that prevented us from being able to deliver consistently at our high standards. I realize we had fallen short and had not made the necessary investments.”

This quote-to-cash solution provider is poised to disrupt the market with their new ideas about how to meet their customers where they are, as opposed to applying a one-size-fits-all model to every problem.

The new model of B2B companies rejects hierarchical organization in favor of structures that encourage flexibility, creativity, and innovation. Cross-functional teams capitalize on the strengths of individuals and are organized around customer needs, as opposed to being arranged around the wants and needs of the company.

Established software companies have problems with this new work model, and they aren’t showing the kind of problem-solving and flexibility needed to succeed in the new workplace. These problems present Apttus with the opportunity to develop a new type of business application solution to fill the ever-growing hole in the quote-to-cash software sector.

Collaboration with customers drives the development of new ideas at Apttus. The product development teams put themselves in the customer’s position to best understand what is needed to create solutions that work.

Finding the right team members to take a sales-driven company to the next level of success can be a huge challenge. Wahoo Recruitment has an extensive network of top talent. Contact us today to find out how we match the best candidates with growing companies.

Salesforce has acquired SteelBrick for a $360 million price tag. The acquisitions are important to Salesforce’s strategic direction. After they acquired EdgeSpring and RelatelQ, Salesforce decided to get into the business intelligence market and reassess their small-business strategy. They also recently acquired ExactTarget and Pardot which gave them an introduction to the marketing automation business.

Earlier this year, SteelBrick announced an $18 million funding round. SteelBrick has just over 350 customers, and investors include Emergence Capital, Shasta Ventures, and Institutional Venture Partners. The company offers quote to cash software that offers tools to easily handle billing, orders, and payments.

“Being a part of Salesforce will give us an amazing opportunity to accelerate our delivery of fully integrated Quote-to-Cash applications right within Salesforce, helping thousands more customers grow revenue faster than ever before.” -SteelBrick CEO Godard Abel

SteelBrick’s quote to cash software gives them an easy way into the configure-price-quote market and the product integrates seamlessly with Salesforce. Before joining SteelBrick, CEO Godard Abel was chief executive of BigMachines, a provider of configure-price-quote software purchased by Oracle in 2013.

Wahoo Recruitment has a deep understanding of the world of acquisitions, and our network of top candidates allows us to match companies with talent that will help move them to the next level of success. For more information about our innovative search and selection process, please contact us.

Contracts represent an important part of the business to business relationship between vendors and customers. Data must be easily accessible at a moment’s notice, and advancements in technology have made this a real possibility.

The major challenges involve disconnects in between the various processes on the selling side of the quote to cash cycle. Order management, invoicing, proposal creation, pricing structures, negotiating with customers, and sales order creation are becoming more complex as the demands for accurate and accessible information at every stage of the cycle increase.

Rising sales volumes and complicated pricing models create additional layers of stress in an already difficult process. Revenue leakage at every stage of the quote to cash process are common, and can be hard to diagnose and solve.

It’s important to pay attention to standardization of the language in the documents used in the quote to cash process. There is great financial and even legal risk in not controlling the language in contracts or issuing contracts with unapproved conditions or terms.

Contract problems slow the sales process

Reducing the sales cycle is a prime objective in companies that rely on the performance of their sales departments for the overall health and well-being of the organization. A large part of the sales cycle depends on the efficiency of the contract creation and approval process. Reducing the entire cycle by even one day may represent a huge financial boost for a company. Extending it means lost revenue over time and perhaps even lost clients.

Revenues may also be lost to other problems in the sales cycle, including accounting errors in the proposal, sales contract or invoice, missed deadlines, and regulatory penalties.

Better contract management leads to improved performance and financial results

Companies that attempt to solve challenges in the quote to cash process find that better contract management saves them money and shortens their average sales cycle.

A reliable contract-management system can significantly reduce invoicing delays and errors. Integrating the contract management system with transactional systems and automating the quote to cash system further reduces the chance for mistakes and delays.

Having the right people in place to execute a contract management system is crucial for your company’s financial health. To learn more about how Wahoo Recruitment helps sales-driven companies find the best possible candidates, please contact us.

The quote to cash process is also widely known as the Q2C or QTC practice, and it refers to the steps between offering a quote for services or products to a prospective customer and the final stages of delivering the promised services or products in exchange for the agreed upon price.

The quote

The Q2C process begins when the sales department issues a quote and it is delivered to the client for consideration and evaluation. The quote should be accurate, but it’s commonly understood that it is not a final price. It is a solid place to begin the conversation about how the product or service can best meet the needs of the customer.

The sales order

In most cases, the quote can easily be converted into a sales order as the client accepts the pricing and agrees to place some sort of order with the company. Correct order management involves reviewing the order details with the decision maker and submitting it to the vendor’s order fulfillment department.

Order fulfillment

The vendor fills the order to the terms specified in the sales order, including any special agreements made to satisfy the customer’s wants and needs as outlined in the order. The client will review the delivery and approve or reject it based upon their copy of the sales order. If there are any discrepancies, the customer will contact the vendor directly to solve the problem.

Invoicing

After the customer receives and approves the order according to the sales agreement, the vendor invoices the order. A copy of the invoice is included with the payment. Once the payment is processed by the vendor, the Q2C process is considered complete.

Contracts represent an important part of a company’s ongoing and ever-changing relationships with many different vendors, clients, and suppliers. Moving forward into a time where technology governs a large part of every part of a business, it’s likely that paper contracts will continue to become less common, and digital contracts will become the norm in every sector.

Businesses and their clients indicate in many surveys that they want contracts that effectively govern their relationships. This desire will govern the Q2C process, and may present opportunities for bottlenecks in the areas of data monitoring, contract creation, and the negotiation-to-approval process.

Our recruitment team has the resources to match companies looking for top talent in sales and contract management with their ideal candidates, and for more information about how Wahoo Recruitment helps professionals well-versed in every stage of the Q2C process find their dream job, please contact us today.

graphManaging growth is a critical part of keeping a new company healthy through major changes early in its life. Adjusting operations or stopping production and innovation to find new sources of funding can really take the wind out of a company’s sails. Determining your company’s self-financeable growth rate is an important part of mapping the future.

Here are three things you need to know to be able to manage growth effectively:

  • How much cash is generated for each dollar of sales?
  • What is the company’s operating cash cycle? How long does money remain tied up in assets and inventory before it’s available? There are many factors that contribute to a company’s operating cash cycle. How long it takes to receive income from your sales, the amount of time you have to pay suppliers, and the amount of time you store inventory are all important factors.
  • How much cash is required, including operating expenses and working capital, to finance one dollar of sales?

Knowing exactly how long you can successfully sustain growth before you need to approach investors takes a lot of the stress of growing a company out of the equation. Taking time to really focus on getting to the answer is worth the investment of time and energy.

If you plan to approach investors, understanding your company’s self-financeable growth rate and being able to explain its components will help you find the right partners.

For an in-depth explanation of this model with an example company, check out this article recently re-published in the Harvard Business Review. The model was so useful that the author revised the original version published in 2001.

Hiring the right people in times of growth and change in a company is challenging. Small companies trying to take over a chunk of the market share in their niche don’t often have the time or resources to find the perfect fit. To learn how Wahoo Recruitment helps new and emerging companies find, recruit, and hire the most talented and driven candidates, please contact us.

swimming finish

There are few sectors more interesting and exciting than SaaS. These three companies are growing fast, and are definitely worth a bit of attention:

Zuora

An enabler of subscription-based billing, Zuora is a big deal in the B2C space. With clients like Zendesk, Box, and Intuit, this company is a SAAS-based provider that is making an impression in the niche. Owners Tien Zuo, Cheng Zuo, and K.V. Rao abandoned positions at top companies Salesforce and Webex to pursue this idea. Creators of the Subscription Economy, these innovators are responsible for shifting the world’s focus from delivering services to delivering products. Their 400 employees are located at their headquarters in Foster City, California, and at satellite offices in various locations in China, Europe, and North America

Vend

New Zealand native Vaughan Roswell is killing the cash register with his pain-removing SaaS platform that makes POS much easier for everyone involved. He has over 15,000 customers all over the world who love this plug-and-play solution that syncs in the cloud to make moving from one device to another easy even without a reliable internet connection. This intuitive system allows users to offer customers layaway, store credits, refunds, and on-account sales without having to put staff through a lot of complicated training modules.

Zenefits

One Saas company that achieved huge growth in its first few years has officially flown too close to the sun. Keep an eye on Zenefits to find out if it will turn this misfortune and bad press into fuel for its fire, or go down in flames.

The fastest growing SaaS company in history, Zenefits is disrupting the human resources industry by offering its popular cloud platform at no charge, and then becoming their subscribers’ health insurance brokers. Parker Conrad, Zenefits CEO, recently resigned.

Zenefits’ new CEO (former COO) David Sacks says he has put a stop to drinking at the office and brought their first CCO to the company after learning that the company failed to comply with insurance regulations. In an email to employees, Sacks wrote,

“We sell insurance in a highly regulated industry. In order to do that, we must be properly licensed. For us, compliance is like oxygen. Without it, we die,”

 

Wahoo Recruitment offers expert advice and guidance to top candidates searching for their dream job. To find out more about how we help match the best companies with great talent, please contact us.

Are you a thought leader? An innovator? Do you consider yourself someone who is just reaching the very edge of what they are capable of professionally? For many brilliant thought leaders, taking some time out of a typically over-productive day to contribute content to LinkedIn’s article platform, Pulse, doesn’t even make it to the bottom of the To-Do List.

Publishing well-thought-out content on social media platforms is a great way to establish yourself as a source of trusted information, and cement your reputation as a leader in your industry. Extending your reach within your target area is a big step on the road to landing your dream job. Great content attracts attention. Attention attracts job offers.

Here are a few of the top Pulse articles on LinkedIn today. They often appear in other news sites or get picked up by aggregators. Take a look, get inspired, and consider publishing your own content.

Invest In The Future – But Don’t Give Up On Workers of Today by Dennis Yang, CEO at Udemy

Should you move out of a tech hub? By Adarsh Pallian, Founder / CEO at Trippeo

On-Demand: It’s About the People, People. By Brian O’Malley, Partner at Accel Partners

Pay Like You’re Hiring Your Own Daughter – Merit, Not Manhood, Should Be the Only Guiding Principle in Pay by Christopher Cabrera, Founder, CEO, Xactly Corporation (NYSE: XTLY), Author, Game the Plan @cabrera

Lights, Camera, Inaction: How Hollywood Still Fails Women in Film by Ashley Kennedy, Senior Staff Author: Video Post Production, lynda.com at LinkedIn

Why People Check their Tech at the Wrong Times (and the Simple Trick to Stop It) by Nir Eyal, Wall Street Journal Bestselling Author of “Hooked: How to Build Habit-Forming Products”

The Reality Perception Divide by Marc Ostwald, FX, Rates & EM Strategist at ADM Investor Services International

14 Rules for Being a Woman in Business by Katie Martell, CMO, Co-Founder at Cintell

Wherever You Go, There You Are by Bruce Kasanoff, Ghostwriter

It’s Time to Take the Economy Away From the Central Bankers by Daniel Roth, Executive Editor at LinkedIn

To learn more about how Wahoo Recruitment helps innovators, thought-leaders, top sales people, and professionals with big dreams find their perfect job, please contact us today.

Sales people are some of the hardest working and most dedicated employees in any field. They are directly responsible for a huge chunk of a company’s success. Their compensation is often performance-based, which is both motivational and intimidating.

Top sales people do things differently than their peers. They have a skill-set that is part nature and part nurture. There are a lot of things they do better, and for a quick peek into their world, read on:

Top sales people are connectors

They understand the worlds of their buyers and they creatively solve problems for their customers. This helps them build valuable and long lasting relationships that help them transition from being just “the sales person” to an important part of their buyer’s team. They have a wide network and resources to help remove obstacles to the sale, which also helps them build relationships with their buyers.

Top sales people are persuasive

Knocking on doors and consistently following up on leads will gain sales. It is a numbers game, after all. However, the top sales people know that their personal powers of persuasion will take them the extra mile from “good enough” to “great.” They know how to build trust, show their experience, and help their prospects enjoy the benefits of doing business with them.

Top sales people know how to collaborate

They are proactive, and not shy about asking for additional information or help if it creates a more favorable environment for a sale. As they collaborate with the buyer, they become a partner in the sales process, instead of the instigator. This helps the buyer trust that they are in good hands. It also opens doors for referrals and is a great skill to have when networking.

At Wahoo Recruitment, we understand the difference between a sales person, and a top sales person. To find out how we help top sales people from all over the world reach their professional goals by finding their dream job, please contact us.

self improvement

Ask any successful and powerful salesperson how many hours a week they spend actively seeking ways to improve their sales skills and how much money they spend each year on personal development, and you’ll get a lot of different answers. But all of those answers will lead you to this insider secret: successful salespeople are dedicated to self-improvement and expanding their knowledge, and they spend a great deal of time and resources (outside of work hours and in excess of company-provided training) seeking information that will help them reach their personal and professional goals.

Unless you are an inside salesperson who works from home, there’s one part of your day that you may not have considered a resource for extra time. Whether you drive to and from work each day or take some form of public transportation, you spend a bit of time in transit. Why not spend that time absorbing up-to-the-minute, relevant, exciting, and interesting information that is specifically created to help you be the best?

There are as many types of podcasts as there are careers, and sifting through them for the best content can be a real time-waster. Here are a few sales-focused podcasts that are worth your time and attention:

Salesman Podcast

Fascinating interviews led by Will Barron reveal how body language, personal influence, and all things sales-related offer valuable insights with every episode. Recent topics include, How to win the negotiation, How technology is changing sales, and How to improve your sales communication.

RainToday

This is one of the longest running sales podcasts. The RAIN group started this series in 2009. It’s formal, but full of quick tricks to help you tweak your performance and get to the next level. It’s produced once a week, and definitely worth adding to your playlist.

The Brutal Truth about Sales and Selling

For a less formal tone, and a down-to-business attitude, this podcast deserves a top spot on any dedicated salesperson’s priority list. Brian Burns, creator and host, has 25 years of selling experience and a unique personality that shines through in every episode. If you enjoy Tim Ferris, The Motley Fool, Bill Burr, or Dave Ramsey, you’ll appreciate the tone of this podcast.

 

Here at Wahoo Recruitment, we are committed to helping our candidates meet and exceed their professional goals. To learn how we help top salespeople find and land their dream jobs, go ahead and contact us today.

graph for blogEven top sales people are constantly searching for sources of inspiration and motivation to help them reach and exceed their goals. There are unlimited resources available, but very often you just need a nudge in the right direction. Check out these great sales blogs for actionable tips, timely advice, and helpful insights from some of the most respected and successful sales professionals in the world.

LinkedIn Sales Blog

This is a great resource for learning how to best use LinkedIn to further your career goals. They are committed to educating their users and making their platform easy to operate and friendly. Check out this recent post:

Get the Fundamentals of Social Selling with LinkedIn: four fundamental pillars of social selling with LinkedIn

Predictable Revenue

This site’s creator, Aaron Ross, is a best-selling author, which makes his blog a pleasure to read. Packed with information on ROI, cold-calling, customer satisfaction, workflow, and email marketing, this blog offers a huge amount of useful information to the sales professional and manager.

His new book, coauthored with Jason Lemkin is From Impossible to Inevitable: How Hyper-Growth Companies Create Predictable Revenue.

Sales Pro Insider

This website has been around since 1998 and it focuses on building communication skills that drive sales. Nancy Bleeke, founder and president, is also the author of the award winning Conversations That Sell. Her blog was recently recognized as one of the 20 Best B2B Blogs.

Johnathan Farrington

If you are looking for a point of view that differs from the traditional sales-guy numbers-game talk, Johnathan Farrington may be the inspiration you need. His recent post, The Most Powerful Form of Sales in the World? I Think So! is a great place to start.

This blog offers an unwavering focus on performance, but addresses bigger issues than day-to-day sales numbers. The author is also Senior Partner at Jonathan Farrington & Associates, CEO of Top Sales World and the co-editor of Top Sales Magazine.

The Sales Hunter

This blog is great medicine for a sales slump. Mark Hunter offers timely advice and to-the-point posts like, It’s Time to 10x Your Sales. 10 Things You Can Do to Grow Your Sales! and Is Dealstorming the Secret Weapon You’re Missing? The site also offers a wealth of extra information in the form of infographics, YouTube videos, e-books, and in-depth articles to help inject your day with energy and though-provoking but actionable instruction from sales pros.

Here at Wahoo Recruitment, we are committed to helping our candidates meet and exceed their professional goals. To learn how we can help you find and land your dream job, go ahead and contact us today.