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36% More Revenue, 30% Less Cost with Document Automation

More and more companies have implemented a document automation application in their Salesforce CRM. And why not, considering the competitive edge it provides to sales teams? The benefits are nicely summarized in the IDC study ‘The Document Disconnect’ (2015):

  • 36% increase in revenue
  • 30% reduction in cost
  • 23% reduction in business/compliance risk.

These figures were obtained in interviews conducted with 1,518 line-of-business leaders, IT leaders, and information workers in five advanced markets.

Lower costs thanks to higher efficiency

Let’s examine where the numbers come from in more detail.

First, it is quite easy to understand, how document automation brings down staff costs. Simply, documents become faster to create for sales representatives and the price of work drops as productivity grows.

More revenue through better use of time

But then, how does document automation bring more revenue? Turns out that there is a number of contributing factors.

One is that, thanks to less time spent on document creation, sales teams can concentrate more on their core tasks: chasing new business, spending more time with customers to generate more sales and taking better care of customer support.

When documentation takes less time especially at the crucial steps of the sales cycle, deal completion is also achieved faster. Revenue can be recognized quicker. There is also smaller risk that the deal fails to reach completion due to prolonged closing time.

Faster time-to-market for new products

Glitches in document production can also diminish the overall agility of a company. Indeed, 41% of the respondents in the IDC study said, that more smooth documentation processes would allow them to get new products and services to market more quickly.

In today’s highly competitive markets, meeting or even beating the competitors in getting a product out to the customers usually has a tangible impact to the bottom line.

Better customer experience

Weak integration of document applications with the existing systems and gaps in their automation are notable obstacles to customer experience provided by companies, cited by 77% of business leaders according to IDC.
It is not only about the time it takes to get documents customers. Quality issues are another important factor.

Document automation can help here in a big way, since it allows producing documents with more consistent (and typically higher) quality than manual creation would allow. Errors are in practice completely eliminated and all stakeholders can rely on having the same, always up-to-date data in their use. Instead of spending time unnecessarily tweaking documents, the sales staff can concentrate on doing what they were really hired to do – sell.

It is easy to implement

Reaping the benefits of document automation is quite easy, actually. What you need to do is download the Documill Dynamo application and apply a consistent process for creating documents.
With a versatile application like Documill Dynamo, you can reap the full benefits of automation without restricting your options. Just contact us, and we will be glad to help you do it.

By | November 16th, 2016|