It can be challenging for business services organizations to understand the factors underpinning profitability, as many of your costs are related to people and time, making them harder to quantify.
INSIGHT2PROFIT’s technology, data science capabilities, and expertise in business services consulting gives you visibility into the true costs and value drivers of your business and identifies opportunities to increase margins.
When you provide customized services, creating a quote quickly and accurately can be a challenge – so many factors differ from one engagement to the next, and some of those variables may be outside your control. INSIGHT’s approach to the quoting process helps limit unknowns and mitigate risk by digging deep into your cost estimations, value drivers and margin expectations. We use data science and qualitative discovery to understand the different price and margin sensitivities in your market, we craft customized quoting tools that allow your sales team to easily obtain a target price or margin based on the key value drivers of any situation. Our quoting solution integrates seamlessly with your system and brings a mindful and data-driven approach to the quoting process that both increases your win rate and boosts your profitability.
One of the things that sets INSIGHT apart from our competitors is our ability to quickly aggregate our clients’ sales data and to identify key customer behavior patterns from it. If we find, for example, that half of your customers that utilize Service A also use Service B, we work with you to discuss what that trend means for your business. Does it make sense to bundle those services together going forward, and how should we price that bundle? Should we develop a new program or promotion around Service B that your sales team can bring to your customers currently only using Service A? As you can see, we don’t stop at data collection and analysis – we collaborate with your team to devise and implement business services strategies to develop stronger, more profitable relationships with your customers.
You likely offer a variety of services to your customers, and those different types of work have different margins. We work with business services clients to help you understand the disparities in profitability across your various services and identify how shifts in your company’s product mix – what you sell to whom in a given period of time – impacts your overall margins. Armed with that information, you can then craft strategies to grow certain parts of your business or resources within your organization to support a more profitable mix .