AUSTIN, Texas, March 7, 2019
In the news release, Zilliant 2019 Global B2B AI Driven Study Finds Sizeable, Addressable Hidden Pockets of Revenue and Profit, issued 07-Mar-2019 by Zilliant over PR Newswire, we are advised by the company that an updated version of the press release should be referenced. The complete, corrected release follows:
Zilliant conducts largest-ever study of global B2B transactions quantifying the significant cost of pricing inefficiency and revealing pricing as an unexploited growth lever.
- Industrial manufacturers and distributors forfeit revenue and margin by neglecting the significance of pricing inefficiencies
- Customer churn and missed cross-sell opportunities account for revenue losses of up to 30.9%
- Pricing inconsistencies and misaligned market pricing contribute to revenue losses of up to 13.4%
- Largest-ever study of B2B transaction data analyzes 1.4 billion B2B transactions, with a total value exceeding $181 billion, across 15 international markets
AUSTIN, Texas, March 7, 2019 /PRNewswire/ -- Zilliant, a leading SaaS software company, that uses artificial intelligence (AI) to turn B2B data into insights designed to accelerate growth, today released its 2019 Global B2B Benchmark study of B2B industrial manufacturers, distributors and service organizations. The study shows that manufacturers, distributors and service companies lose between 7.7% and 30.9% in revenue from customer churn and missed cross-sell opportunities. Additionally, pricing inconsistencies and misaligned market pricing contribute to profit margin losses ranging from 1.9% to 13.4%.
The implications for a business' bottom line are significant. For example, a $1 billion company that applies the appropriate analytics techniques will be able to identify sources of leakage and implement corrective actions to recover up to $300 million in revenue or $134 million in annual profit.
By applying AI technology to transaction data, Zilliant identified four factors that represent the most common drivers of significant revenue and margin loss for industrial B2B companies. These factors include: customer churn and cross-sell, which are indicators of sales complexity and consequential revenue loss; and inconsistent pricing and misaligned market pricing, indicators of pricing complexity and related profit margin leakage. These findings can be leveraged by businesses, across geographies and industries, to establish benchmarks and better assess performance.
One of the biggest worries for CEOs is that they are not maximizing revenue and profit growth opportunities," said Greg Peters, Zilliant CEO. "We're discovering how significantly pricing inefficiency limits revenue growth and, with current state-of-the-art AI-enabled technologies, this inefficiency is largely preventable. Companies today can identify specific areas of revenue and profit margin loss and take corrective action to improve performance."
The study, which is the most comprehensive AI-driven global analysis of B2B transaction data ever performed, utilizes four years' worth of transactions from 6.3 million customers worldwide. That amounts to more than 1.4 billion transactions spanning 15 international markets, and with a combined value exceeding $181 billion.
The study demonstrates that significant hidden sources of additional revenue and profit margin relating to pricing and sales complexities can be identified and remedied by leveraging the insights derived from AI-driven analysis of customer transaction data.
These findings are described in-depth in Zilliant's 2019 Global B2B Benchmark Study. To download your copy please visit: http://experience.zilliant.com/benchmark
Zilliant helps B2B enterprises turn data into actionable intelligence that accelerates profitable growth. The Zilliant IQ™ Platform delivers actionable, real-time sales and pricing intelligence for traditional and digital channels, so you can maximize the immediate value of every transaction – and the lifetime value of every customer. When customer lifetime value is maximized, profits are accelerated, competitive advantage is created, sales performance is improved, and sustaining organizational success is achieved. Learn more at www.zilliant.com or follow @Zilliant.