DNBi Credit Enabling Sales | D&B

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In this presentation, learn how DNBi can help your business to prescreen and enable instant decisions to shorten the sales cycle, reduce credit holds and find upsell opportunities, and optimize and segment your portfolio to find the profile of your best customers.

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DNBi Credit Enabling Sales | D&B

  1. 1. Credit Enabling Sales Presented by: Robert Porreca D&B – Dun & Bradstreet June 26, 2014 Credit Departments as drivers of profitable growth Credit Enabling Sales - D&B Confidential & Proprietary Information
  2. 2. Today’s Discussion  Prescreen and enable instant decisions to shorten the sales cycle  Reduce credit holds and find upsell opportunities  Optimize and segment your portfolio to find the profile of your best customers Credit Enabling Sales - D&B Confidential & Proprietary Information 2
  3. 3. What are Credit Professionals Saying? Credit Enabling Sales - D&B Confidential & Proprietary Information “Credit People need to be as interested in growing the business as the salespeople are” “I look for ways to sell more product, being creative and finding ways to make the sale when traditional credit extension methods are not realistic” “Every time we set up a new account, we send a letter explaining the credit line/terms, we also attach a flier highlighting the products being featured that month” “We create a “good pay” list, customers who pay on time and underutilize their limits, then we give this to sales to solicit additional business” “I am a sales person, I sell credit offerings to keep them engaged” “A customer centric operating model leverages account level expertise along with providing sales a single point of contact” Source: Credit Today; NACM Elevator Speech Contest 3
  4. 4. Is the trend of “Credit Enabling Sales” real? Credit Enabling Sales - D&B Confidential & Proprietary Information Source: Key Issues Study, The Hackett Group, 2014 CFO Agenda Strategic Financial Priorities 4
  5. 5. Credit Enabling Sales - D&B Confidential & Proprietary Information Prescreen and Enable Instant Decisions to Shorten the Sales Cycle 1 5
  6. 6. Prescreen and shorten the sales cycle by…  Prescreening accounts that meet your criteria for acceptance  Enabling sales to get an instant answer directly from the CRM system you use today  Allowing customers to submit an order online and be instantly notified of their acceptance Credit Enabling Sales - D&B Confidential & Proprietary Information 6
  7. 7. Making content available when and where sales need it Credit Enabling Sales - D&B Confidential & Proprietary Information Business Insight Risk Prescreen Firmographic Data Real-time Location Information & Nearby Companies Industry Information Integration with Custom Data Sources Additional Contacts 7
  8. 8. Which prospects are worth speaking to? Credit Enabling Sales - D&B Confidential & Proprietary Information Help sales reps quickly determine the potential of the prospect Create status indicators using your own or third party data Sales reps can qualify prospect based on creditworthiness 8
  9. 9. Enable sales to get an “instant answer” right from the CRM they work in everyday Credit Enabling Sales - D&B Confidential & Proprietary Information Credit Manager Sales Person Decision Engine 1 Sales submit credit application in SFDC 3 Credit Application is automatically decisioned Credit Applications that require manual review is decisioned by credit manager 4 Sales user gets the decision automatically in SFDC 2 Sales user confirms the company matched 9
  10. 10. Shorten the sales cycle by enabling customers, sales or service to submit via an “online application” Credit Enabling Sales - D&B Confidential & Proprietary Information Enable both 1) New customers, as well as 2) Returning Customers 10
  11. 11. Deliver back an “instant” answer to improve efficiency and customer satisfaction Credit Enabling Sales - D&B Confidential & Proprietary Information 11
  12. 12. Credit Enabling Sales - D&B Confidential & Proprietary Information 2 Reduce Credit Holds and Find Upsell Opportunities 12
  13. 13. Reduce Credit holds and find upsell opportunities by…  Taking a proactive approach to reduce credit holds  Using a risk based approach to identify accounts for upsell or cross sale  Understanding total corporate family exposure to determine service levels, resource allocation and cross sell/up sell potential.  Monitoring portfolio risk to adjust polices so you are not leaving money on the table Credit Enabling Sales - D&B Confidential & Proprietary Information 13
  14. 14. Targeting accounts nearing or over their credit limit provides a proactive approach to reduce credit holds Credit Enabling Sales - D&B Confidential & Proprietary Information 14
  15. 15. Target incremental revenue opportunities by looking at score trends, focus on the accounts moving in the right direction. Credit Enabling Sales - D&B Confidential & Proprietary Information 15
  16. 16. Segment customers based on external risk in addition to how they are paying you Credit Enabling Sales - D&B Confidential & Proprietary Information 16
  17. 17. Use corporate family ownership to identify your biggest and customers, so you can retain and grow them by ensuring appropriate service levels and resourcing Credit Enabling Sales - D&B Confidential & Proprietary Information 17
  18. 18. You can also use corporate family ownership to identify companies related to your customers, where no current sales exist 18Credit Enabling Sales - D&B Confidential & Proprietary Information
  19. 19. Then look to see how the overall portfolio risk is shifting over time, ensure your polices are not leaving money on the table Credit Enabling Sales - D&B Confidential & Proprietary Information 19
  20. 20. Credit Enabling Sales - D&B Confidential & Proprietary Information 3 Optimize and Segment Your Portfolio to Find the Profile of Your Best Customers 20
  21. 21. Optimize and Segment your Portfolio by…  Creating a 360 degree view of your customers by combining all internal data with external third party insight  Segmenting your customer base by risk and opportunity to build a profile of your best customers to enable better targeting.  Understanding M&A activity to identify new growth opportunities Credit Enabling Sales - D&B Confidential & Proprietary Information 21
  22. 22. Create a 360 degree view by cleansing, integrating and enriching data from across the company Credit Enabling Sales - D&B Confidential & Proprietary Information Your Disparate Internal Databases Integrated Customer Information Gorman, Inc. 123 Elm St. Bethlehem, PA 18025 Chuck Smith, President Mary Worth VP, Marketing 123 Elm St. Bethlehem, PA 18025 Customer Relationship Management Customer Service System Gorman Plastics P.O. Box 111 Bethlehem, PA 18055 Chris White, Controller Third-Party Information A/R System Integrated Customer Information OPTIMIZED CUSTOMER DATABASE 22
  23. 23. Matching the right internal records is critical, to help determine which records across your data systems represent the same commercial entity Credit Enabling Sales - D&B Confidential & Proprietary Information Acct # 123456 Legal Name: ABC, Inc. Tradestyle: Alpha Plastics Address Postal: P.O. Box 111 Bethlehem, PA 18055 Address Physical: 123 Elm St. Bethlehem, PA 18025 Phone: 610 882-7600 SIC: 5411-0202, 5541-9901 Primary Contact: Charles Smith, President - - - - - - - - - - - - - - - - - - - - Year Started: 1961 Employees: 35 Additional Contacts: Mary Worth, VP Marketing Parent: ABC Enterprise, Inc. Number of Family Members: 3 Viability Rating: 2 1 C G PAYDEX: 79 - - - - - - - - - - - - - - - - - - - - Finance ID: OX20PH Warehouse ID: A595660662 CRM ID: 001200000000wXgAAI $3,000 credit limit $1,100 outstanding and 12 days past due Product code A on 7/2013 Product code B on 9/2011 SMB channel customer Last touch point on 6/2013 A.B.C. 123 Elm St. Bethlehem, PA 18025 (SIC) 5411-02 Chuck Smith, President - - - - - - - - - - - - - - - - - - - - ID: OX20PH $3,000 credit limit $1,100 outstanding and 12 days past due Finance Alpha Plastics P.O. Box 111 Bethlehem, PA 18055 Chuck Smith, President 610 882-7600 - - - - - - - - - - - - - - - - - - - - ID: A595660662 Product code A on 7/2013 Product code B on 9/2011 Warehouse Charles Smith 123 Elm St. Bethlehem, PA 18025 (SIC) 5541-99 215 882-7600 - - - - - - - - - - - - - - - - - - - - ID: 001200000000wXgAAI SMB channel customer Last touch point on 6/2013 CRM Single, more intimate and actionable view of your customer Hypothetical customer data from three of your source systems Consolidated identity profile with unique id and various names and addresses Enriched with things we know Paired with things you know 23
  24. 24. Now create a “Best Customer” profile Credit Enabling Sales - D&B Confidential & Proprietary Information Best-Customer Profile: Industry: Plastics Manufacturer Company Size: >100 employees Years in Business: >10 Years Geography: Northeast PAYDEX: 80–100 Financial Stress Score: <3 Commercial Credit Score: <3 ProspectsYour Best Customer 24
  25. 25. Industry – Prospecting profile component Perform an segmentation analysis by industry to generate a “best” customer profile for new business opportunities. Credit Enabling Sales - D&B Confidential & Proprietary Information 25
  26. 26. Geography – Prospecting profile component Perform a segmentation analysis by geography to generate a “best” customer profile for new business opportunities. Credit Enabling Sales - D&B Confidential & Proprietary Information 26
  27. 27. Number of Employees – Prospecting profile component Perform a segmentation analysis by business size to generate a “best” customer profile for new business opportunities. Credit Enabling Sales - D&B Confidential & Proprietary Information 27
  28. 28. Years In Business – Prospecting profile component Perform a segmentation analysis broken down by number of years in business to generate a “best” customer profile for new business opportunities. Credit Enabling Sales - D&B Confidential & Proprietary Information 28
  29. 29. Now create a “Best Customer” profile Credit Enabling Sales - D&B Confidential & Proprietary Information Best-Customer Profile: Industry: Plastics Manufacturer Company Size: >100 employees Years in Business: >10 Years Geography: Northeast PAYDEX: 80–100 Financial Stress Score: <3 Commercial Credit Score: <3 ProspectsYour Best Customer 29
  30. 30. Today’s Discussion  Prescreen and enable instant decisions to shorten the sales cycle  Reduce credit holds and find upsell opportunities  Optimize and segment your portfolio to find the profile of your best customers Credit Enabling Sales - D&B Confidential & Proprietary Information 30
  31. 31. To learn more visit www.dnb.com/dnbi

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