For Order-To-Cash and Revenue Management products/platforms, you might have seen a lot of marketing focusing on a lot of capabilities, features, etc. When looking at a product, its capabilities are just one end of the spectrum. Customers in the domain need to look at more towards the value proposition rather than what the product functionally offers. The functional evaluation will inherently happen as part of the process.
To the business owner, when deciding to look for solutions/products, at the onset the query to answer is what is the goal for the business and what is it that the business is trying to solve. Many times companies jump straight into what the products offer and how big/small the brand is. However, that could take you further away from what you really need to address.
At the top, the goal should be to “Focus more on the Growth of the business”. Once the broader goal is identified, then you put the value propositions that will help you achieve that goal year over year. That kind of a mindset will usually get the company alignment in the thought process. You approach each decision making with clearly defining or aligning to the broader Goal and defining the value propositions that will help you fully achieve those goals. This kind of mindset will also help set a practice to adapt inevitable Changes in a much more cohesive manner throughout the organization.
Here are 5 value propositions that could help you achieve your goals.
1. Process Simplification
Change is inevitable, current processes may be cumbersome. Simplifying these processes will unclutter your organization from the day-to-day management.
2. Operation Automation
There are so many tasks, so many jobs, and so many processes that are required to be managed daily, that it keeps a big part of your organization locked in. If these operations are automated, that will not only reduce the time and money spent on it but also elevate your organization resources for far more important needs of your company.
3. Customer Engagement
Happy customer equates to smoother operations. Customer obsession and customer retention, and reduced customer churn is all part of the equation and much of that is addressed if the customer is engaged and kept informed and has access to the tools in a timely manner.
4. Data Insights
Whether it is targeted towards customer obsession in your organization or for organic growth of your organization, you need the data insights with the right tools to help you look at the data at your disposal in the right perspective to make important decisions. Different levels of data will be required for different organization structures and hierarchies
5. Streamline Decision Making
When you have done all the above and have the right data insights for each level, the decision-making process is streamlined. At each level this can enable you for example to start looking at “Top 3 areas to focus and improve on”, “Top 5 opportunities to Grow”
What is the Embrix Value proposition? Embrix is not just a cloud product that addresses your Order to Cash and Revenue Management needs. It helps you with more than that and it brings a different perspective to the table. Find out how Embrix can help achieve your goal, help define the value propositions to achieve those goals and how it helps address those needs. Reach out to the Embrix team and schedule a session/demo to know more.