Driving the Future of Sales Operations with Artificial Intelligence
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The document discusses the application of artificial intelligence (AI) in sales operations at Wolters Kluwer, highlighting its benefits in improving efficiency and decision-making. It details various AI-driven features such as quote scoring, pricing intelligence, and cross-sell recommendations through Apttus' machine learning capabilities. The presentation emphasizes the importance of AI for future business success and outlines the strategic initiatives undertaken to integrate these technologies.
Driving the Future of Sales Operations with Artificial Intelligence
- 1. September 2017 Driving the Future of Sales Operations with Artificial Intelligence
- 2. Jack Borland Sales Operations Manager Wolters Kluwer Kingman Tang Quote-to-Cash Intelligence Apttus ©2017 Apttus Corporation
- 3. • What is Artificial Intelligence • How is Wolters Kluwer applying AI to Sales Operations • Demo • Questions Agenda ©2017 Apttus Corporation
- 4. Artificial Intelligence is All Around Us Self Driving Car Personal Assistant Page Rank, Search Results Product Recommendations Movie Recommendations ©2017 Apttus Corporation
- 5. What Do AI And ML Mean? • Artificial Intelligence (AI) is a broad reference that includes a set of methods, algorithms, and technologies that make underlying software capable of humanlike behavior. • Machine Learning (ML) is a class of algorithms that can learn from, and make predictions on, data. It is a discipline of AI that gives "computers the ability to learn without being explicitly programmed”. ©2017 Apttus Corporation
- 6. Applied AI • The practical application of AI to solve problems in business • Can transform decision-making across many functional areas • Can unite key functional areas on organizational goals • Can improve efficiency, accuracy and profitability • Allows staffers to do more creative and strategic work ©2017 Apttus Corporation
- 7. Applied AI And Future Success Sixty percent of executives believe their future success depends on the successful implementation of AI ©2017 Apttus Corporation
- 8. Data is Fueling AI 8 *IDC Digital Universe report, 2014 http://www.emc.com/infographics/digital-universe-2014.htm **Data Scientist: The Sexiest Job of the 21st Century, Oct 2012 https://hbr.org/2012/10/data-scientist-the-sexiest-job-of-the-21st-century
- 9. Use Apttus CPQ with Machine Learning to Drive Quote-to-Cash Outcomes Quote Scoring Predicts the probability of winning the deal and gives sales reps recommendations to improve the quote and increase the win probability. Cross-Sell / Up-Sell Cross-sell and up-sell recommendations for products and services that customers are most likely to purchase based on analysis of past purchases and similar customers. Pricing Intelligence Recommends optimal price or discount levels for each deal based on machine learning analysis of the deal characteristics and sales history. ©2017 Apttus Corporation
- 10. Virtual Assistants are the New UI Assist Guide Coach ©2017 Apttus Corporation
- 11. • Cross-sell / Up-Sell • Pricing intelligence • Quote scoring • Alternative clause recommendation • Contract cycle time prediction • Contract risk scoring • And more And Max Gets Even Smarter with Apttus Machine Learning ©2017 Apttus Corporation
- 12. Polling Question #1 ©2017 Apttus Corporation What is the time horizon for your company to use AI? We are using it now In the next 12 months 12-24 months Not a priority Don’t know AI can help us 50% 20% 10% 10% 10%
- 13. We are a global company that provides information, software, and services. Our customers are legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare professionals. ©2017 Apttus Corporation
- 14. • Very large product catalog • Large amount of historical contract data • Primarily a subscription business Help sales rep find appropriate products to cross-sell • Top line growth – more sales • Rep efficiency gains – automate account research Wolters Kluwer Legal & Regulatory US Business Case for Artificial Intelligence ©2017 Apttus Corporation
- 15. • 6 Month Development Effort – June-September 2016 – On Hold for Q4 – January-March 2017 • Launched April 2017 • Initial Feedback – saves time, provides valid recommendations • Recommendations refreshing monthly • Winner of the WK Legal & Regulatory Enterprise Achievement and Excellence in Action Award for Q1 2017 • Foundational for account planning strategic initiative How is AI working at WK now ©2017 Apttus Corporation
- 17. Account Planning ©2017 Apttus Corporation
- 18. Makes Cross Sell Recommendations ©2017 Apttus Corporation
- 19. Makes Cross Sell Recommendations ©2017 Apttus Corporation
- 20. Creates A Quote Shopping Cart ©2017 Apttus Corporation
- 21. Creates A Quote ©2017 Apttus Corporation
- 22. Drives Next Steps ©2017 Apttus Corporation
- 23. Artificial Intelligence in the Future IMMEDIATE Create Whitespace Max Assist - Oppty/Quote Creation NEAR TERM Territory Coverage Recommendations Max User Guidance MID TERM Best Quote Recommendations Price Optimization + Usage Max Coach ©2017 Apttus Corporation
- 24. • Define a clear business case for ML • Set clear expectations – Value increases as system learns • Socialize the value of ML to identify additional stakeholders & use cases • Plan for the future – Extend incrementally Best Practice Recommendations ©2017 Apttus Corporation
- 25. Polling Question #2 ©2017 Apttus Corporation What challenges do you see AI solving? Adoption Forecast Visibility Bigger Deals / Renewals Rogue Discounts Other AI can help us 7% 33% 60% 0% 0%
- 27. About Apttus Apttus, the category-defining Quote-to-Cash and Contract Lifecycle Management technology company, drives the vital business process between a buyer’s interest and the realization of revenue. Utilizing a patented combination of SaaS-based applications, the Apttus Intelligent Cloud platform helps our customers, achieve better business outcomes. Enhanced by Machine Learning and Max, an artificial intelligent agent, Apttus applications include Configure Price Quote, Contract Lifecycle Management, E-Commerce, Billing Management, Revenue Recognition, Deal Management, Order Management, Promotions Management, Incentive Compensation Management, Rebate Management, and X-Author. The Apttus Intelligent Cloud platform is powered by the world’s most trusted cloud platforms, including Salesforce and Microsoft Azure. Apttus is based in San Mateo, California, with additional offices located across the globe. For more information visit: apttus.com