A typical sales quote of, say, a medical devices company to a hospital typically includes thousands of different products. Salespeople on the field face the same challenge every day: How do they get pricing right and configure such quotes fast?
Making sure each quote has high chances of getting selected without leaving money on the table is a core part of the challenge. It goes further: Quotes must comply with strict approval processes and an increasing set of rules and policies, both internal and external to the company (e.g., rebates, regulation, etc.).
Such challenges appear in a broad spectrum of industries, from life sciences to technology to retail, essentially wherever a large number of SKUs applies. At the same time, most big companies out there still rely on legacy software or generic solutions (i.e., excel) to get the job done. Revenue management for large enterprises remains far from optimized and largely unsolved.
Unsexy problems, really close to value creation, are the ones we love the most at Marathon. So, when we got the chance to meet with Costas, George and Phillip, seasoned executives with a complementary and robust track record in the enterprise software market, what we heard was music to our ears.
Cube Revenue Management provides a modern suite that sits between an enterprise’s ERP and CRM systems to take care of everything related to, well, revenue management. Cube’s software scans existing excel files to export underlying business rules, then enables salespeople to identify optimal prices per customer and put together fully-compliant sales quotes on the go via its iPad app.
The underlying technologies that Cube puts at work introduce capabilities that were not possible before. For example, Cube monitors large EU tenders and provides its customers with an opportunities calendar based on specific criteria; users can select the ones they are interested in and create optimized and compliant proposals, ready for submission, with the click of a button…
Cube Revenue Management’s first enterprise user is Boston Scientific, with hundreds of salespeople across Europe making good use of the software every day. The company has an equally impressive, fast-growing pipeline of customers in both Europe and the US and is becoming a leading vendor in the space.
Today, we are happy to share the completion of our investment in the company. Costas, George and Philip see a future where enterprises spend fewer resources on processes and more time building value with customers. We concur with this vision, and we look forward to helping them deliver!