This quote is from Albert Einstein but you don’t have to be a genius to agree it is one of life’s great truths. What Einstein failed to mention is the real difficulty is recognizing the opportunity when you’re bogged down and surrounded by your current difficulty.
It certainly applies to indirect sales units of resellers struggling with the difficulty multiple support contract renewal processes from OEMs and distributors. Renewal proposals, once generated have to be disseminated to internal sales/CRM software, account executives, and to customers. The reverse process happens in order to book the quote and close the sale. Managing these processes manually is extremely difficult which can both decrease sales success and weaken customer relationships. The manual process also limits a reseller’s ability to grow this sector of their business without significantly expanding inside sales personnel.
So where is the opportunity?
The opportunity is changing from a contract administration business to a contract sales business by implementing a comprehensive asset and support management solution. This can solve many problems and simultaneously improve sales. Here’s how:
- The solution allows resellers to maintain independent control of their data.
- It creates business intelligence about your customers’ assets to maximize sales.
- Administrative overhead is reduced; both in time spent and allocated resources.
- The renewal quote process is streamlined across all OEM lines.
- Contract renewal rates increase with automatic renewal reminders.
- Land and expand – customers see the value and buy more from you.
- Advanced reporting makes it easy to track sales and create accurate forecasts.
- You keep away competitors poaching customers using this value add service.
A comprehensive asset management solution saves time, reduces labor costs, increases sales opportunities and provides better value to your customers. If you’re currently using a manual process, or a patchwork of applications from different sources, it may be time to look at alternative ways to manage your support business. If you want more information on ServTrax and our comprehensive asset and contract management solution, TRAX, click on the link to view our video or contact our sales department to schedule a demo.