New Survey Finds 5 Costly Roadblocks to Revenue
Is your sales process working for you or against you? That was the question posed to Fortune 1000 sales leaders by Apttus, the leading quote-to-cash solution provider and a key Adobe partner.
In a collaborative survey, Apttus and Adobe asked these leaders to shed light on the true ROI of sales automation to help determine if their sales process was an asset or a liability. The results were eye-opening, and contained great insights into the costly mistakes, time consuming and ultimately ineffective manual sales processes that can slow time to revenue and revenue growth.
The good news is that the survey also discussed how processes can be radically improved by transitioning to digital.
Here at Adobe, we are big proponents of digitizing workflows, because digital workflows speed and streamline processes, allow companies to track, manage and report more easily and in real-time, and keep people – whether in HR, Sales, Procurement, Legal, or elsewhere – focused on their mission-critical work.
The survey makes it clear: what companies don’t know CAN cost them. Some findings we found especially intriguing:
- A week is weak: Nearly half of companies surveyed that were without an electronic signature solution, required one week or more to finalize contracts, while nearly one third of companies with an electronic signature solution reported closing contracts in one day.
- Millions lost: Each year, inefficiencies uncovered in the survey contribute to an estimated loss of millions in top-line revenue for these top brands. Simply streamlining contract renewals with an electronic signature solution could contribute to revenue growth of 15% or more.
- We (almost) all make mistakes: 50% of all respondents admitted that their company had experienced costly mistakes as a result of errors in the sales quote generating process.
- Time is ticking: 40% of companies revealed that they require more than two days to generate a sales quote, resulting in delays and lost sales opportunities.
Adobe EchoSign VP and GM Jon Perera says that the study spotlights some of the most critical problems affecting sales processes—and the potential resulting revenue loss—even within the world’s most successful companies.
To get the full report on what Apttus and Adobe discovered, check out the full survey and results.
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