Why are Your Subscription Finance Operations Still Manual?

By Aarthi Rayapura July 27, 2015

In the world of subscription finances, if you’re not integrating your sales and billing operations, then you’re already behind. Will Wiegler, CMO of SteelBrick, explained that the way many companies run their businesses is similar to the TV show Mad Men – where business processes are manual and disconnected.

Here’s a story he told.

You’re the sales rep of a subscription company. One day, your phone rings and the customer says, “I’m ready to buy and I’ll pay full price. Just send me a sales quote and let’s get this approved so we can move forward right now.” You say, “Great, I’ll get you a sales quote. It may take me a few days to maybe a week or more. We’re a little backed up here but I’ll get you something as soon as I can.”

Then, you create an Excel spreadsheet with all the products. But you can’t quote this yourself–you’re not entitled to. So what do you do? You send it to your quoting team and wait for them to get back to you. Meanwhile, your customer is also left sitting and waiting for you to get back to them.

Sound familiar?

That’s because this exact process might be occurring at your company as you’re reading this. The problem that Wiegler addressed, in his session at our Subscribed 2015 conference, was that many companies are still so manual that there is a disconnect between sales and billing operations. We’re not living in the 1960s anymore; there should be no reason why our subscription finance process still is. “The idea is that we live in this world where everything is very automated and magical on the outside…and our business world is not keeping up.”

Wiegler urged businesses to turn to an automated and connected platform where sales and billing communicate efficiently and accurately. In his words, “Leave the Mad Men era behind. It’s fun to reflect back on the old days, but don’t run your business that way.”

Curious about what this connection will mean for your company and subscription finance procedure? Read on Scaling Subscription Sales and Billing Operations to learn more.