Technology and Services
Multinational data management and storage company accelerates their move to the subscription economy with HCLTech
Our client is a renowned multinational data management and storage company that has established itself as a leader in the technology industry.
One of their core offerings is storage systems, which combine hardware and software to provide scalable and reliable storage solutions. In addition to storage systems, they offer a comprehensive suite of data management software.
As the company was founded in the early 1990s, many of their older systems were creating friction and slowing down their ability to modernize their selling options, which limited their ability to take advantage of the industry’s move to the subscription economy.
Revenue
employees
years of innovation
The Challenge
Quickly move from traditional selling to as-a-Service
Our client found itself at a crossroads as the market landscape shifted towards cloud-based services and as-a-service models. Faced with the challenge of adapting to the changing demands of its customers, the company embarked on a transformative journey that would test its agility and determination.
The Objective
Modernize transaction infrastructure and strengthen partnerships
The client identified several objectives that would result in modernizing their sales operations by adding subscription offerings and quickly creating flexible product bundles for their customers and partners.
Moving from traditional sales model to as-a-Service
Realizing the need to modernize their selling model, our client made the strategic decision to shift its focus from selling hardware-only to offering comprehensive as-a-service solutions that included hardware and software.
Improving customer satisfaction with bundled offerings
To remain competitive in the market and provide value-added solutions to its customers, our client implemented a strategy of bundling its various offerings. By combining hardware, software and services into comprehensive packages, the company could meet the diverse needs of its clients while differentiating itself from competitors.
Overcoming outdated infrastructure for customer quotes
The client faced a significant hurdle in the form of an outdated Configure Price Quote (CPQ) system that impeded the timely generation of customer quotes. The legacy system resulted in delays (8-9 weeks to add a new product) and errors, creating frustration for both the sales team and customers.
Fortifying and improving partner network
The client acknowledged that a successful move to subscription services included the fortification of their existing partnerships, so they wanted to prioritize their partner experience while simultaneously improving their direct customer experience.
The Solution
Multi-level approach to manage direct customers and partners and decrease time-to-market for new products and bundles
Our client chose HCLTech to help them with their transformation from traditional selling to a subscription model, as well as update their infrastructure to improve speed-to-market for new products and strengthen their partnership network.
HCLTech was able to utilize the catalog of frameworks and accelerators to help the client quickly move to an as-a-service model.
Shifting from one-time to subscription selling
This transition required a fundamental shift in processes, mindset and expertise. HCLTech was able to deploy our ADvantage Commerce for Subscription framework to help spin up Subscription and Billing Management (SRBM) for the client.
The solution included product selection, design, implementation and post implementation stabilization services.
HCLTech chose Oracle CPQ Cloud, which has native integration with their ERP Oracle EBS. QA reviews were done to make sure that we overcame current configurator limitations like performance, UI, run time challenges, diagnostics and debugging.
Subscription product catalog creation and implementation took a phased approach starting with low impact storage products and subsequently moving to medium- and high-complexity storage solutions in the client’s portfolio.
HCLTech also utilized automation to reduce the amount of manual intervention in the CPQ and product administration processes.
These enhancements empowered the sales team to respond quickly to customer inquiries and improved the overall customer experience. The new system integrated seamlessly with the company's product catalog, enabling real-time updates and providing sales teams with instant access to accurate pricing and configuration options.
Shift to bundled offerings
Once the as-a-service infrastructure was in place, HCLTech worked with the client to develop bundled products to enhance their value proposition, improve customer loyalty and increase revenue streams.
Fortifying partner network with Partner Relationship Management (PRM)
When B2B companies move to a subscription model, quickly giving their partners access to the new offerings is critical for partner network satisfaction.
HCLTech worked with the client to build a PRM portal to enable external partners to generate quotes in Oracle CPQ Cloud for both cloud and on-premises offerings.
This updated portal allowed partners to create customized quotes in four hours when previously it took three days. This improved speed greatly enhanced satisfaction for their 6,000 external partners.
The Outcome
Faster time-to-market, happier partners and consistent subscription revenue
The client was pleased with the speed and effectiveness of the solutions from HCLTech. The impact included:
- $500M in subscription revenue managed through the new systems
- 12,000 quotes per month generated from the new CPQ portal
- New products are now added in four weeks (time-to-market cut in half)
- Automation resulted in the reduction of 15 FTE from the Sales Ops team and reduction in errors related to formerly manual processes
