|Demystifying campaign to cash|
This post is part one of a four-part series on campaign-to-cash.
The business environment as we know it is rapidly changing. At times it feels like it is evolving on a daily basis. However, no matter how volatile the environment becomes, organizations need to adapt to survive -- the business equivalent of survival of the fittest.
A number of factors drive change, including rapidly shifting market demand and global competition; significant changes in distribution, logistics, and routes to market; and the global adoption of new business models and product propositions. The business world is changing at a pace faster than ever before.
Organizations are responding by going back to the basics, evaluating processes and procedures that impact building and fulfilling demand -- otherwise known as campaign-to-cash. Campaign-to-cash isn't a new concept, in fact, without even knowing it your organization is probably utilizing the philosophy whether you are calling it campaign-to-cash or not.
Traditional campaign-to-cash processes start at the beginning of the sales cycle by identifying and generating demand for your organization. To generate greater demand, organizations conduct processes, such as market planning, price management, and incentive creation and management. These processes need to be optimally managed and constantly evaluated to ensure that your organization is functioning at peak performance (sound familiar -- I told you that your organization was probably doing this already).
The second half of strategic campaign-to-cash processes consists of fulfilling demand, or as many people call it, closing deals. This includes creating opportunities or quotes, developing valid configurations and prices, submitting contracts, negotiating terms, making payments, validating transactions, and performing analysis. Every organization should be very familiar with these steps as they move through the sales cycle.
Campaign-to-cash at its highest level is really creating and satisfying demand.
Now don’t get me wrong, it isn't as simple as I just described -- campaign-to-cash is made up of countless sub-processes that drive the overall strategy. It's a huge grouping of actions that can take months or years to move from start to finish, but it encompasses every process that touches on building revenue. That is why the optimization of these processes can reap tremendous returns to your organization.
Since campaign-to-cash is a set of organizational processes, it intersects and overlaps with other established procedures. Two big items for us at Revitas are contract lifecycle management and revenue management, and both of these processes run in parallel and intersect campaign-to-cash processes.
Optimizing campaign-to-cash provides your organization with the strategic advantage it needs to identify and win more deals. And by identifying the weak points within your specific campaign to cash procedures, your organization can ensure that it’s doing everything it can to succeed.
In the next three posts of this series, we’ll be discuss the value of shortening these sales cycles, and how and where they intersect with both contract and revenue management processes.