Leading security vendor increases revenue by 63%

iasset

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Highlights

Fortune 1000 Global Security Vendor
Automated Contract and Renewals Management with iasset.com

About the Company

Our customer is one of the largest security software providers in the world. A Fortune 1000 organization, this vendor offers a wide range of security products, everything from data or endpoint protection, cloud, server, network security, to database or web security, which can be delivered as hardware, on-premises software or Software as a Service (SaaS). The company has a growing network of Managed Service Providers (MSP's) and distributor partners that sell products on its behalf across the world.

The Challenge

With its vast network of 1500 partners, nearly 9000 SKUs (Stock Keeping Units) and an increased demand for consumption/subscription services, the vendor experienced issues with tracking every sale made through their channel. Each month, partners submitted their sales/usage information in spreadsheets. And, despite requests to adhere to a standard template, data was received in different formats, creating a significant amount of work for the vendor to reformat, reconcile and prepare for billing. Their sales team were tied up with data collection, billing and identifying delinquent accounts, rather than selling.

Their process proved to be extremely inefficient, labour intensive and impacted data integrity. And with billing accuracy compromised, they could not identify potential revenue leakage or gain insights into their products/markets/channel. As a result, the vendor conducted an extensive review to find the right solution which could be executed easily and scaled as the business continued to grow.

The Solution

The company searched for a solution that would help automate the manual collection and reconciliation of the monthly transaction data from its channel partners. Importantly, the chosen platform needed to automate the billing process through an integration with SAP, so that once the monthly data had been supplied and validated, an invoice would be automatically generated to the partner. In addition to this, multi-language and cultural considerations were required to help accommodate its global partner network.

Creating a feedback loop was also vital, so that if a partner failed to submit data, there was a mechanism in place to alert a team member, who could prevent the partner from continuing to sell more products without booking and being billed for previous transactions.

Following a detailed review, iasset.com was their platform of choice.

How it works

With iasset.com, the vendor has a single, scalable platform that can manage and standardize the entire end-to-end workflow.

Given that majority of the security vendors' partners were already iasset.com users, the implementation process was exceptionally quick and smooth.

As part of the on-boarding process, new partners choose from a minimum commit, custom contract, which includes set product lists/pricing/terms, or a pay-as-you-go contract, which offers greater flexibility in products that can be sold each month.

iasset.com notifies the MSPs to submit their usage data at the same time each month. MSPs can log in and complete their monthly usage report (which represents a contract between the MSP and vendor), capturing the information in a consistent format. Depending on which contract is selected, iasset.com automatically configures the contract according to the pre-defined business terms, generating the monthly usage report presented to the MSP.

In addition to this, iasset.com enables the distributors to be more pro-active and add value to each engagement. They can also review usage and control the acceptance of orders for an additional layer of control and accountability.