After six years of unsuccessful efforts, Philips approached CommerceCX for assistance with their implementation corrections after hearing about our successful Lead to Cash implementation at the World’s Largest Pure-Play Coffee Company.
CommerceCX worked with Philips to come up with a new solution that fit their business process, using our thought leadership skills and advisory capabilities. We introduced CommerceCX’s products to improve maintainability and scalability, and provided a roadmap of implementation timelines.
Part of this roadmap included implementing solutions in multiple phases.
CommerceCX brought down the number of price list items from 15 million to under 1 million, reducing Philips’s data load and drastically improving processing time. This data load reduction reduced pricing and discount calculation time from 2.5 minutes to less than half a second.
These simple but powerful changes resulted in:
Improved the accuracy of price and contract selections, providing the best contract price in seconds.
Shortened sales cycles and improved revenue recognition time.
Better revenue visibility, which exhibited zero margin leakage across the supply chain.
Increased customer confidence in Philips, as reduced errors gave more time for customer fulfillment.
Provided a great buying experience.
In the second phase, we replaced Philips’s existing price engine with our customized Contract Pricing Operations Manager, an advanced pricing engine we developed in-house at CCX Labs. This pricing engine enabled a Single Version of Truth, housing all pricing data in one centralized database.
Having a Single Version of Truth:
Reduced price and discount configuration and computation time by 92%.
Allowed the system to consistently and quickly generate prices without crashing.
Brought down quarterly pricing update time from 40 hours to less than 8 hours.
Upgraded asset-based ordering/service.
By implementing CommerceCX’s Contracting Pricing Operations Manager, Philips’s system now
Achieves above 98% accuracy in contract pricing.
Generates error-free quotes in minutes or less.
Allows users to introduce promotions outside of the entire marketing cycle.
Enables their organization to
Administer accurate pricing and chargebacks.
Guarantee compliance to price-tier commitments.
Mitigate rebate overpayments.
Ensure that contract commitments are met and all margins are approved.
Monitors daily contract net prices and on-demand prices to identify and prevent possible regulatory compliance issues, mitigating risks.
Coordinates detailed contract information to create accurate, beneficial contracts that ensure compliance.
Accurately calculates all chargebacks, rebates, distributor commissions, fees, and accruals to reduce the churn rate and protect provider revenue streams.
CommerceCX helps organizations:
Fix CPQ, CLM, and QTC implementations.
Create predictable sales cycles by automating processes.
Come up with error-free Quote-to-Cash (QTC), Configure-Price-Quote (CPQ), Contract Lifecycle Management (CLM), Billing Management, and Pricing Management solutions.
Resolved Broken Lead to Cash
Implementation at Philips
We are Salesforce and Conga experts. We have fixed faulty QTC, CPQ, CLM and CRM implementations for:
Ten Fortune 500 companies.
Four of the world’s top 10 system integrators.
One of the top 5 medical devices companies.
The largest pure-play coffee and tea company in the world.
The largest clinical trials company in the world.
Speak to an Expert
Sometimes you just need to see how all of these things work together.
We’d be happy to walk you through the Salesforce Platform, the Conga Suite, and how our products can streamline your sales process.