These days, most enterprises have an expansive ecosystem of partners that they co-sell with, which requires extensive account mapping. Account Mapping is the best solution to identify partners who can help target prospective buyers. That’s why it’s a ubiquitous process among enterprise companies. However, it is time for enterprises to update their current account mapping solution to generate millions of dollars in revenue year over year.
What’s Wrong with the Current Way We Map Accounts?
To answer this question, it is best to look at a simple experiment done by one of our clients. He had a short, excel spreadsheet sent over to him by one of his partners. It had a little over 150 account names. He mapped it by hand against his CRM data. The entire process took him three hours. Three hours for little more than 150 accounts. Another partner sent him a list with 66,000 account names. At the same rate, it would have taken our client 33 work weeks of non-stop mapping to finish the list. Think about how much money would that cost your business.
Can Automated Account Mapping Really Save Us Time and Money?
The same customer mapped his list of 150 accounts against his CRM using PartnerTap. The entire process took him seven minutes. This is including targeting the accounts and figuring out which sales reps to pair up for a co-sell motion. It’s hard to argue with these numbers.
This is a clear case where automated account mapping saved this company valuable time and money. Account mapping automation will save your company thousands of man hours which will translate to thousands, if not millions, of dollars saved quarter over quarter.
What Else Can We Do with Automated Account Mapping?
While improved workflow is great, and the money saved is precious, there is one other thing that makes an automated account mapping solution the right choice for enterprise. The AI. Humans make mistakes with tasks like pouring over spreadsheets. Much of the account overlap across the ecosystem is missed. It is difficult for the human brain to analyze and cross reference so much data. A.I. does not have this same issue. The automated account mapping solution easily sources new revenue-generating deals that you would have otherwise missed by mapping accounts manually.
How much is the average deal worth to your business? Imagine if you missed out on ten prospective deals each month. What if you missed out on 100? How much money are you currently leaving on the table with your antiquated account mapping process?
To illustrate how much potential revenue you’re missing out on, I’ll tell you another story. One of our customers, LogMeIn started mapping accounts with our automated account mapping tool. Within a few weeks, his team had increased their pipeline by 500%. What would that mean for your business? How much money would 5x your current pipeline translate to?
What is the Best Account Mapping Solution for My Business?
At the end of the day, each business has to choose the best solution for their company. It is important to look at your current partner strategy and evaluate the ROI from each partner. If you want to increase pipeline, save time, and save money, a Partner Ecosystem Platform with an automated account mapping solution is right for you.