Pramata: Complex Contract Data into Valuable Insights
Date: Thursday , October 13, 2016
The increasing complexity of today\'s large B-to-B customer relationships has made manual collection and screening of relevant customer data a tedious endeavor. Firms are in search of a more concrete approach towards digitizing and sharing complex customer agreement data to reinforce their downstream processes in sales effectiveness, business performance and contract management. In such a situation, Pramata is well-positioned to streamline their data collection process by transforming diverse, complex contract data into accurate customer insights. \"Our business transformation solutions bridge the gap of tangible customer information within the core areas of Sales Effectiveness, Business Performance, and Contracts Management,\" says Praful Saklani, CEO of Pramata.
With Pramata, clients extract the foundational data present in their B2B customer contracts and combine that information with relevant data from their CRM and billing systems to create Customer Relationship Intelligence (CRI). This CRI can be leveraged organization-wide by sales ops, finance and legal or operations teams to address real business challenges ranging from customer-specific price quoting to revenue leakage to compliance mandates, and many other activities across the customer lifecycle. \"At the heart of our value proposition is our unique Digitization as a ServiceTM (DaaS) process, which pairs hands-on expertise with expert automation to transform even the most complex customer agreements into complete, consistent insight within 48 hours of signing new customer deals,\" says Saklani
Paraphrasing Saklani, Pramata\'s goal is to ensure that 99.9 percent accuracy is obtained in the client information provided that drives critical business decisions. With the help of Pramata\'s Digital Intelligence HubTM, clients can ensure consistent, highly accessible, and secure data storage and accessibility. In one such instance, Pramata\'s digitization solution was leveraged by one of their clients-a communications firm-who wanted to expand the value of services they provided to their existing customers. A huge percent of the client\'s revenue came from the existing customer base and they wanted to retain and grow those customers.
In the words of Saklani, Pramata digitized the clients\' 300,000 complex customer contracts and combined that foundational data with the information contained in their CRM system. The resulting dash-boards provided customer information, key dates of renewal, product/ service description and much more which could be readily accessed by Sales professionals. By leveraging Pramata\'s DaaS solution, the client was able to improve its overall sales effectiveness that had a positive impact on their customer retention rate. According to Saklani, \"All B2B companies face challenges with their customer relationships, and we solve the problem by bridging the information gap with our unique solutions.\"