Sharpen your Selling on Salesforce: Installed Base data at your fingertips
Supercharge your Aftermarket sales strategy with our exclusive webinar, Sharpen your selling on Salesforce - Installed Base Data at Your Fingertips. Entytle gives you more visibility and deeper insights into your Installed Base data. Salesforce users can use this stellar combination to make more informed decisions and boost their sales performance. Revolutionize your sales process and drive significant Aftermarket growth!
Hello everyone, good morning, good afternoon and very good evening to everyone
joining in today.
This is JW our go to market manager at entitle.
We're going to go ahead and get this discussion kicked off today.
So with that, we'll go over to the rules of the road.
Awesome. So some rules of the road, please use the Q&A area for questions to
the speakers.
You'll find that Q&A button at the bottom of your screen along with all their
buttons on your zoom bar.
There's also a chat button you can use to raise any technical issues during the
course of the event.
And we'll go ahead and get the recording to this and the deck we're going to
use today sent out afterwards.
And with that, I'll go ahead and introduce our speaker of the day.
Rohit or Roy as he is more popularly known is the head of customer success here
at entitle and takes care of our EU business.
Roy has spent two decades in the technology and industrial automation space at
companies like Schneider Electric and Thales.
He was also the founder and CEO of Mashiq, which was a technology provider for
the aftermarket before joining in title.
Roy, thanks so much for leading us today over to you.
Thank you JW and good evening everybody.
I've spent about 60 into 18 years working aside OEMs across the world.
I started in Asia, moved to Europe and with the entire customers, I also work
quite significantly with our American customers.
And I would say one of the things that I noticed that is different about the
industrial OEM base is that you know about 80% of all the new equipment sales
that happen for this industry is most with existing customers.
So the largest customer base are companies that you're already working with in
one form or the other.
And on top of that, about 25 to 30% of the revenue, the overall revenue is also
actually coming from the aftermarket, which is PEPART services primarily.
And when you see the scale of all of that together, right, it's a pretty
important element in terms of how well you know your customers.
And that's a combination of multiple things.
So you need to know not just who your customers are or the contacts, which is I
think the easy part.
But then OEMs, I think they have the added complexity of equipment that are not
simple things that you sell like an iPhone, although an iPhone is complex as
well.
It's just that the product and the definition of what the customer wants
through RFPs and so on is something that goes over multiple weeks sometimes
multiple months and the knowledge and the insights associated with the
technical parts of the product as well as all of the different interactions
that your company is having with your customers across services across this PEP
ART transactions across all of the other conversation that are happening with
regards to design and co design.
All of these things have an outsized impact on the success of the sale quite
often.
And therefore what's something that is natural is a lot of OEMs have over the
past decade invested in CR and that makes perfect sense because that's the
perfect place to get started in consolidating everybody's knowledge and
interactions with your customers.
And that's I think the first it's a good first step. But typically what we've
also seen is that these CR and systems are primarily focused on driving the
sales process.
So I just pulled up a standard dashboard for most sales people on Salesforce
and you're looking at of course where in the sales pipeline are the different
opportunities and who are the customers.
Are we on fork what's the focus for the month or some focus for the quarter are
we hitting our targets and buy sales rep by region and so on right and this is
this is critically important and it's focusing on the efficiency and the
effectiveness of the sales part and it's a necessary input for management.
So that's great. But then when you go from there and you're basically starting
to break down where you are in a specific sales process you're also looking at
different things about the customer itself regarding the account regarding the
value of the deal.
All of this is again fundamental to any sales process. But if I am an
individual sales manager and I am actually interested in the health of my deal.
Then just having a full view of all of the different opportunities that me and
my team are chasing is only half the way forward the hardest part is what I've
described earlier which is basically for the sales team to also have with a
single view of full 360 degree view of everything that's happening with that
customer.
And while sales force and other CRM systems are capable of doing it just
getting all of that different data into the system is a massive project because
you have systems like ERPs where the transactions are your service execution
software that is sometimes separate a lot of the service notes are in Excel.
And while this paper discussions are happening with the order desk and that's
probably going straight into the ERP systems where the orders are coming in.
And if you don't bring all of that in one place it's going to be very hard for
you to have a conversation with your customer about a specific equipment that
they have in a specific site that may have an outsizing path on what they're
going to buy next with you or what is the ongoing discussion that you're having
And that's the problem that we set up to solve but before I do that I want to
throw a little quiz just make this a little bit more interactive and also to
understand where you are in this picture right so roughly how many systems do
your sales teams have to look at or click through in order to have a single
view of any of their customers feel free to answer it will keep it open for
another 15 seconds.
I hope that's enough time if you have a single source of truth you're already
in the promised land but if you chose in any of the others there is obviously
work to do okay great three to five okay that's that's actually pretty standard
I would say.
You have at least in your system you have a service system and ideally you
probably also have other other systems where you have your support data that is
being allowed great thank you and this is actually going to be interesting for
your sales teams precisely for this I've been in sales and one of the most
frustrating things is actually this that you know Joe from services had this
issue with the customer and the customer wasn't happy about it it was about a
specific equipment and they're actually buying three more of this.
You want to be able to convince the customer that the new equipment that they
're going to buy from you from the next generation where you've actually worked
on solving precisely those kind of problems or it could be related to spare
part pricing which could then impact for example the amount of safety stock
that they want to negotiate in the new equipment that they contract that they
buy or it could be that I am and this is something that I personally felt when
you're a key account manager and you're managing through your sales teams in
different locations. A major customer like a Nestle or a BMW or whatever of one of these large
companies they have and they are starting to consolidate purchasing and they
have access to analytics across what they're doing across across across the
world with their suppliers and then asking for the strategic the strategic
account seems to do more and it's very hard for a strategic account manager a
global strategic account manager or a gram to basically be able to pay for the
company. So basically we're able to pull up in one quick summary everything that all of
the different sales teams across all of the different countries are doing with
the with the customer right and those are typically the challenges that a
vanilla implementation of any CRM does not solve in the first step and it's
usually in your journey of adopting and doing better CRM it usually comes a
little later and that's basically what we've we've seen.
We've been informing our product development as well as as we've been working
on in the last last couple of years what we've.
I think the most fundamental challenge right is this inside every company there
is a lot of knowledge that knowledge is sitting in different systems as data or
and more frequently.
It is sitting in the minds of the most experienced people in in the company
these are often customer sales at strategic account managers it could be the
service teams the health the health best teams or even the order of the teams
now if only there was a way for as the famous saying goes if only what H.
P knew what H. P knows or H. P knew yeah H. P knew what H. P knows if only
there was a way for every customer facing professional in the company across
sales across services across all of the different parts of the company that
actually touch any part of the customer's processes if there was a way for each
of them to have at a click of one mouse click or at the tip of the fingers all
of the knowledge that is across the company that they should have access to
right.
That is basically the promised land that we realize a lot of company that want
to work with us are looking for and while we do that with entitled insights we
realize that a lot of them wanted to have all of those capabilities where they
're working with the customers which is their CRM systems.
So in a nutshell what we understood was that there needs there is a need I
would say to bring together commercial information and technical information
about the customer so commercial information about the customer the contracts
the assets that they purchase the parts that they purchase and so on but also
the technical information which is here are the kind of equipment that the
customer has acquired from us here are the bill of materials for those
equipment and then also the life cycle.
Of the parts in the bill of materials where quite often and I heard that today
and it's actually true most of the industrial equipment survive a lot longer on
the field then most IT installations do inside your company you replace IT
systems of any kind every five to six years when your equipment live on the
field for 20 years so all of the data that accumulates in all of these
different system that you've graduated from over the years and if you're able
to bring together if you're able to bring all of that in and if you're able to actually say I
sold an equipment 15 years ago here is the bill of materials with the parts
list that was in that equipment but here are the 30 parts that are relevant for
services that have been replaced multiple times in their life cycle they become
obsolete the original ones but today here are the parts that have been
replacing each of those parts in that journey and today if I want to sell a
certain part from 20 years ago or 15 years ago this is the part number that I
should be actually quoting for.
That is the level of ease that service people are looking for and that is also
true I would say for strategic accounts and new equipment sales this is what I
believe a lot of companies are looking for and are trying to achieve this in
the in their deployment or in the implementation of their CRM and that's a
journey that we are trying to kind of accelerate for you on Salesforce and I'll
spend the next couple of minutes just quickly showing you what you can actually
do with what we built just now let me just say I'm going to do this.
Just now let me just leave the slide deck and I get right to it on Salesforce
this is second.
I guess you still see my system.
So here we are.
This is your Salesforce. This is a specific customer location.
What is called accounts in Salesforce and like in any typical implementation
you do manage the contact information for the customer the different
opportunities that you have that you're working on or that you've just worked
with the customer on additional details about the customer and your the typical
data that you capture for your customer.
This is something that we expect most most OEMs have implemented in their CRM
especially in the Salesforce.
But then like I said earlier it still leaves your sales teams wanting that next
level of information which is what are the specific equipment that this site
has what have what are the parts that are in those equipment what are the
transactions that they have incurred what what are the purchase from us as
parts and services because of the equipment that they already have which of the
service contracts are active. Which of them are not and that's basically what we are bringing to the same
would say conversation with the IB intelligence product that we've just
released.
Now here you're able to see in one click all of the different equipment that
you have seen that the customer has purchased the top three opportunities that
you're working on the last transactions that the customer had with you what
what did they purchase what was the value and when
when it was you're able to also look at for example the equipment age at the
site so you can see that they had they made a big purchase in 2021 they seem to
make a purchase every five to six years you're probably going to come up with
the probably going to come up with an RFP next year so you want to be in that
conversation early so you can actually influence what they specify that's that
's one and you're also looking at their purchasing behavior as it pertains to
parts as it
pertains to services so you can see that they were traditionally company
company that didn't really purchase services but they are starting to purchase
service contacts from you so you're able to see that kind of trend as well all
of this as your customer location centric dashboard so this gives your sales
team a pretty good idea straight out of the bat as to what you're doing what
they're doing with their customer in that location.
Now the next step would be hey what are the specific equipment that they do
have and all of that gets served in one place you can see not only what they
have and the specific serial number which is in interesting because typically
as soon as a customer calls you especially in services the first question you
ask is what serial number you're talking about so you already have that list
here and this you click through to see more information about it you can see
all of the parts that have been transacted upon what are the recent set of
parts that you can see. The recent set of parts that they bought when did they buy it how many pieces
all of the information that you generally store in your ERP is served out here
of course around services active service contracts but most interestingly I
would say is is this part which is what are the opportunities that we believe
you should be chasing with this customer so we have a lot of intelligence and
algorithms that are actually a form of AI that we are using which enables us to
identify buying patterns.
As well as look at the buying patterns of a cohort of customers that have a
similar install base as this customer one of your customers that would be and
then basically to see is this customer buying enough buying at the same
frequency or not and generate additional leads for you to basically then chase
additional leads and this is on top of the leads that your sales team generates
by the themselves by talking to customers.
These are algorithmic leads that you can then promote and follow in the CRM
itself and another interesting part is what I was telling you earlier which is
that you now have the ability to bring the entire bill of materials for all of
the equipment that are in that location and then of course if you click on the
specific equipment you would be able to see the specific parts associated with
that equipment as well in one place including the obsolescence information so
as you see here these were the original part numbers when you shipped the
equipment. And this is the current part number that has replaced over multiple different
obsolescent cycles so this part today you will be able to sell you will be able
to replace with this part so all of this kind of information is managed today
by entitled and served into sales force where your customer facing teams have
access to all of this information so they can help you serve your customers
better.
I'll stop there if you have any questions I'll open it up for you this is
pretty much the the agenda for today's presentation I hope it was useful but I
'm happy to answer questions that you may have.
Awesome right thank you we did get a couple questions here for you the first
one do you offer this integration only to sales force or to other CRMs as well
so that's a good question and so we today we offer this on sales force and that
's primarily because honestly speaking the the vast majority of our customers
are sales force customers we do have customers that use Microsoft.
So that is in in the works we are working to build something similar on and
service upon Microsoft CRM as well but as of today is on sales force yeah.
Perfect OK and the other one is where is the data stored on Salesforce cloud or
on yours.
That's a very good question so as we're building this this is stored on our
databases in our data center so this is on our cloud instance we serve this up
into sales force but then we do have customers that are discussing data cloud
with sales force and as part of that discussion we do we will support I would
say having this information in data cloud if that's what the customer wants.
At least for what we're doing with sales force right now that's definitely
something that we plan.
It's going to be in the end the customer that will decide.
Awesome.
OK I think those are all the questions we have in for now anything else you
want to add is closing remarks.
Not only service I think in the end the more information that a sales or any
customer facing person has either disposal without having to skip through
multiple different systems simply makes their life easier makes their ability
to focus on solving the customer's problems that much higher and that in turn
will obviously lead to more sales and more happy customers and that's in a way
what we set out to serve initially as entitled and that remains a mission.
Another question.
So yeah one more question just came in so.
Having access to intelligence yet you see that one.
Yeah I see it I'll answer it so yeah so I know Trillium indeed your great
customer so I know you're using insights and I know you have sales force we
have spoken about it to Paul.
I believe you've had certain discussions internally and if that is a fitness we
are more than happy to enable this for you.
I hope that had started.
Right doesn't look like any other questions in for the time being thank you Roy
for the presentation and folks will get this recording and that sent out to you
later today.
Thank you everyone.
Thanks so much for your time.