From 3 months to 3 days: how one print provider slashed its time from initial quote to revenue by 96%.
How long does it take from the time your firm quotes a print project to the day that project generates revenue? If you’re like many marketing or print service providers, the answer is probably “too long!”
It’s not for lack of trying, but many firms still rely on a largely manual process to quote, award, and deliver projects. In our last post, we explored how an industry leading office products company was able to improve its service level agreements for providing client quotes from several weeks to less than 2 days. That’s a great start.
But, it’s just the beginning. In the dashboard below, you can see how the company’s time from initial quote to revenue also shrank: from 3 months to under 3 days.
What great things could your company accomplish if you could decrease your quote to revenue time by 96%?
The company uses Mtivity’s Marketing Acceleration Platform to accelerate its procurement processes and track its performance. The Mtivity Analyze module provides both high-level dashboards and detailed drill downs of data on the company’s key performance indicators (KPIs).
For example, with Mtivity, the company can now easily see:
- Is the vendor pool competitive?
- Are they responding to quote requests in a timely way?
- Are they compliant with our specification?
- Are they shipping on time?
- Which vendors are winning projects most often?
Because all vendors and quotes are tracked in Mtivity, down to every single transaction, the company can quickly fine tune its vendor pool, and adjust to new demands or specifications.
“Mtivity lets us tailor our vendor pool on the fly, instantly, to meet the client’s needs,” says the print procurement expert tasked with helping the company double its print revenue.
In addition, having these insights has helped drive key behavior changes the company is asking of its agents. For example, because managers can see how long it takes an agent to complete a quote, they can now pinpoint why some take longer than others. Is it because vendors are not responding? Or, if the quote time is very short, is the agent relying on a single vendor and not getting competitive quotes?
“With Mtivity, we have our answers right there,” says the business development leader. “We’ve reduced our manual labor costs and time to quote, while increasing our ability to scale much faster, which makes us more competitive.”
“Mtivity has enabled us to build a business model that will let us scale to $1 billion and beyond.”
Want to know how your company can do the same? Contact us today to schedule a demo.