12/24/2022 0 Comments Salesforce aptusHe says people thought he was crazy to go to this level of detail and expense, but he reports the project has been tremendously successful. He also decided to start an academy, an intensive 8 week course in which every employee would learn the company mission and how they fit. But he wasn’t going to toss these new hires into the fire without proper training just for the sake of getting ahead of the curve. He concluded if he needed 40, he was hiring a 100. He needed to anticipate his needs before they happened. As the company grew, doubling to 400 people in the last year, the executive team began to see quality issues as new hires were being thrust into the field without proper training.Īt that point, in the midst of this rapid expansion, he pulled back and came to a couple of conclusions.įirst of all, he couldn’t simply hire based on a current requirement. Krappe says the product has been wildly successful, but it’s a complex sale requiring a team of people to put together and implement. Once you’ve got the negotiation complete, the customer has to pay - and there may be payments by milestones or by certain dates or however it’s outlined in the contract. He says, it gets even thornier with constraints and dependencies within the catalogue itself and around geography, government rules and so forth.Īfter the quote goes out and the customer agrees to the deal, next comes generating the contracts and that’s another level of complexity when the lawyers get involved. It has an astounding 200,000 options, so you can imagine that putting together a quote gets tricky at that level of detail. He uses GE Aviation as a particularly intricate example. The first step is generating a quote, which seems like it would be a simple matter, but as Krappe points out, some customers have elaborate product catalogues, making quoting a much more complex undertaking. At that point, the sales person enters a new phase in the sales cycle and Apttus is designed to support this part of the process. Over time, as they sell products and services to these prospects, they convert to customers. Sales people begin making sales calls and entering information about a given prospect in Salesforce. Today’s money brings the total raised to $78M.Īpttus is built on top of the Salesforce platform, and according to Krappe it’s a perfect complement to Salesforce CRM. It’s worth noting that it’s the largest investment ever in a company that Salesforce wasn’t buying outright, according to Apttus CEO Kirk Krappe.Īdditional investors include K1 Capital and Iconiq. The investment was led by Salesforce Ventures, the investment arm of. Apttus delivers “on demand” applications, allowing you to gain complete visibility and end to end management of your business function.Apttus, a company that helps customers manage the second half of the sales cycle involving quotes, contracts, and collecting the money, announced $41M in Series B funding today. Apttus’ goal is to provide organizations with an alternative, significantly better way to automate business functions, but in a manner that much more closely maps to the needs of organizations. Apttus has combined deep expertise with the Salesforce platform and launched the company with the Contract Management Suite. Apttus was formed to deliver the promise of enterprise class application capability, but extremely rapidly and with high value. The system is upwardly or downwardly scalable allowing you to scale at ResourcesĪpttus comes from the Latin word "aptus", which means suitable, capable and fast. Whether you want to reduce your sales contract request cycle or provide Legal with advanced authoring and Legal Playbooks or for Finance to simple review obligations and commitments, Apttus does it all. Apttus utilizes the most advanced authoring capability available today, X-Author, allowing users to perform a contract function directly from within Microsoft Office with full sychronization to Salesforce.Īpttus Contract Management is a modular application allowing you to choose which part of your contract function you wish to automate. The tool is structured in modules which allow for the complete, end to end lifecycle of request, creation, negotiation, storage, electronic signature, compliance and analytics.Īpttus Contract Management can manage to any type of contract, process or function. Many of the Fortune 500, Global companies and smaller companies utilize Apttus. The system can be used for a handful of users right up to tens of thousands of users.Īpttus Contract Management is used by hundreds of thousands of users today. The solution is modular, so you choose which part of the contract function you wish to automate. The enterprise capability can manage to any type of contract, process or function. Apttus Contract Management is one of the most functionally rich solutions available today.
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