Streamline the crm lead to opportunity process for insurance industry

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thank you all for joining us for today's webcast the latest in Dynamic CRM for the insurance industry presented by Laura tonos my name is Marth me and I'm the marketing coordinator for nestic and the moderator for today's webcast this webcast is presented by Laura tonos new's technical sales architect if you're all locked on you should be able to see the title side at States new destic there was a brief intro earlier regarding features within live meeting to greatfully recap we encourage you to ask questions throughout the session by typing them in to ask a question click on the Q&A verbage located in the toolbar on the top left side of your screen type your question then click the ask button please not all questions will be held until the end we will also be using the seing chart feature within live meeting changing your feedback color within this tool provides feedback to the presenter to provide feedback click on the feedback menu found the upper right hand corner of your screen select your feedback color your seat in the conference center will display your selected color lastly this webcast is being recorded and will be available via the newc website we will email you when the link is available if everyone is ready please make sure your seat color is green at this time I'd like to turn our presentation over to Laura hi thanks for joining the uh the cast I'm going to actually just advance so this is the latest and dynamic CRM for the insurance industry so I want to give you an agenda here so you understand exactly what's coming um we're going to go through a a brief overview and then we're going to talk about the new desic Solutions um that we've tailored to challenges that we've bumped into uh based on our insurance industry experience there are two main areas as you can see from the agenda the relationship sales model and variable team solution and then the lines of coverage solution that falls under opportunity management and then finally we will show you in the course of the presentation how that translates into better book of business management and from there we'll actually go into the demo this way you can sort of see from the context of the presentation exactly how these Solutions work within CRM so we're going to jump right in and I want to talk a little bit uh to set the scene for you about our experience with insurance so new desic has different levels of involvement with the industry and the industry is has sort of a tiered model um for the purposes of this demonstration we've actually developed our scenarios around a distributor or broker consultant experience and it's primarily tailored towards the businessto business scenario uh want to put a little caveat around that for those of you that may or may not be a perfect fit for that model the solutions we're going to show you today can be adapted to meet a variety of needs but the examples that we're going to walk through have this context behind them so just keep that in mind as we talk about both what's coming up and then as we go through the demo as I alluded to on the first slide we're going to be presenting two distinct elements to the solutions that we've developed for insurance the first one is called a variable team solution and that's sort of focused on a relationship based model of selling which is something that we've run into quite a bit in this industry uh the second element that we're going to be presenting to you is our lines of coverage solution and that actually involves a variety of custom scenarios that will help you to manage both opportunities and book of business and commission tracking as a pertains to the way Insurance Revenue flows so let's set the stage and talk a little bit about the relationship sales model that seems to be prevalent in the insurance industry and I want to put a little context even around that and say that within the insurance industry there's typically a very competitive selling model most of the companies I've worked with have producers or salese um on 100% commission plans so in addition to your external competition where you have different consultants and Brokers competing for the same business you actually have internal competition that occurs as well between your producers and when I say internal competition there's healthy internal competition which is where each trying to outdo each other and then there's unhealthy internal competition where you basically have producers trampling on top of one another to try to establish dominance with a particular Prospect so that competition creates a serious need for Rules of Engagement around your selling process the second thing that is a big driver in this relationship sales model is the fact that this is a complex and high ticket item certainly in the business to business scenario but even into a business to Consumer scenario you're going to run into complexity around the way you sell insurance because it's the type of product where people feel a need to really trust the person selling the product and not just understand the nuances of the product so the end of the day what's going to drive that sale process is the relationship between the people selling the product and the receiver or the prospect there are several challenges that this model creates um the first one is is not necessarily specific to insurance but I would say that with insurance the fact of the matter is there's a large target market everybody needs insurance so making sure that you're having Pursuit across the entire spectrum of your target base requires a certain amount of tracking but then in addition to that because it's a complex sale sometimes your sales cycle can be anywhere from 6 months to 3 years and insurance that there is Pursuit over time is critical fundamentally sales has a tendency to focus on the the bright shiny object that is at hand and a lot of times that creates challenges with making sure that lead nurturing is occurring with your lower stage prospects and keeping your pipe full then we move into something that's very problematic in this commissioning sales model and that is the idea that too much Pursuit doesn't occur and that speaks to the scenario that I spoke of at the beginning which is having salespeople basically fighting over the same Prospect and then we want to maximize that relationship advantage and accelerate accelerate the selling um so as you go to craft the solution there are a few bullet points here that we highlighted that are attributes of the type of Solution that's going to be successful one is you need to have an open model so that your business development has a maximum pool of Records to continuously pursue and backfill the top of your sales pipe the second piece is that you need some sort of log of assignment or Rules of Engagement so you have activity tracking within CRM but you also want to understand when a producer officially took over a prospect how long they've had that Prospect in that pool and be able to bump that up against their activity to understand how much engagement is actually occurring when it comes to relationship selling you want to be able to assign the most appropriate producer to a deal based on their relationship so while a lot of traditional selling models rely on either geographical territories or industry territories that's not going to be the best scenario for an insurance sale you basically want to get that Network down and be able to assign when necessary any Prospect in your pool to the appropriate person for closing the deal and then if you want to take that a step further we want to have that assignment or ownership model support more than one person for each Prospect because while one person may have a relationship with a benefits decision maker maybe another producer on the team has a relationship with the CFO or maybe even someone else in your organization has a leverageable relationship with that client you want them all to be able to work on that jointly so out of the box CRM provides that structured tracking for accounts contacts and activity so from a business development perspective you can use the flexible security model in tandem with that structure to really make sure that you're getting the appropriate visibility for different members of your team to be able to both Target the entire pool of prospects available and then tailor that down so that producers are working on the records that are most viable for them Additionally the Outlook integration features of the CRM product from Microsoft is a strong feature for your users because it's a single access point to track your contacts appointments and emails and that means you're you're not asking people to get familiar with an additional interface it's already familiar and it's a One-Stop shop they don't have to go into more than one system to do the same activity with CRM 2011 we actually got a new feature um that is making this relationship selling Model A lot more productive and that's team record ownership so the big win here is that you can get a a team model for security and sharing um right out of the box with CRM 2011 I've seen a lot of organizations have custom code written to do this or manual process workaround so that they can sort of Leverage certain team rights and shared opportunities CRM 2011 supports this out of the box views can be shared within teams you don't have to create views for individual that all the my view functionality that comes with CRM becomes a lot more powerful and the same thing with workflow the challenge we faced when we started developing around this is that teams out of the box are a predefined group of users it's a static model that's really cumbersome if you're trying to promote that ad hoc flexibility of assignment so we set out to build a solution that overcome overcame that limitation so the first piece of our solution is we create a unique team for every client or Prospect record in the system essentially you're creating a bucket where you can assign whoever the most appropriate users are for that team at the same time we're actually creating a scenario where a user's role can be defined uniquely for the team as opposed to by their job title so the easiest way to understand this concept is to say well if I have an account manager in the large Market who happens to know a decision maker for a core Market company I can take that person and assign them to the team but change their role to producer because they're not actually going to be the account manager here they're going to be a producer here so this way you're starting to leverage your relationships at all area of your organization but you're doing it within the system and you're giving people the flexibility to play the role that is most appropriate for the scenario the third win you get with this is there's an engagement record so in addition to the activity that's occurring within the system between your employees and your clients you've got this dated history of people who have worked on that particular client team so within the team ownership model that's a a real time View for the people who currently have access to an account if you go one step further with our teaming solution you can see who was working on that account six months ago and be able to reach out to that person if something is occurring that requires that history so basically this solution was designed to support this relationship based territory model and the sales processes that go along with it the second area of focus for our solution is loose opportunity management but it has a lot to do with the way Revenue Works in this particular scenario so in a broker consultant scenario clients are actually build by and pay providers directly and the revenue that comes in comes in on an incremental basis that fluctuates over time so for example if you're selling employee benefits your client pays whoever their provider is let's say it's Etna in this case and they pay them monthly so Etna will send them the invoice and then they pay them back and then Etna will pay the broker Consultants the agreed to percentage of that Revenue this creates sort of a giant black box for your broker to truly understand how much money should be coming in the door and that's pretty challenging when you're trying to run a business in addition during the sales process understanding even what that revenue is going to look like after cash starts is very challenging for an early stage opportunity producers are typically just estimating what a case is worth based on their experience or certain Benchmark numbers for that industry as the opportunity progresses you start to get an idea of products and services that are going to be applicable for this client and that gets you a little bit more of detail around your estimate and then finally as your opportunity closes and you on board that client you actually get line item detail where you know all of the different policies and that gives you a very solid estimate moving forward of what this client is going to be responsible for in terms of Revenue but then you have that cash element where sales hands off that estimate to finance and then Finance has to try to reconcile that cash to the booked value of the deal and that can also be very challenging so we've actually hit the solution in three different areas and I'm going to sort of document them out here the first one is product variables So within one Insurance opportunity and for this particular example I'm again I'm focusing on that businessto business model you can have more than one type of product and within each of these products you can have a very different Revenue model and some of these things are are typical but some of them are a little little idiosyncratic so the first thing is that different products have different margins the fact of the matter is that a voluntary benefit product is going to have a very different margin than health care or than large life and disability or than Property and Casualty and those margins are going to impact how you want to handle compensation around that that line they have very different models for dispersement some types of products pay all their revenue up front others have more of an annuity stream type payment and then your producer compensation is going to vary based on those factors within our solution we created an element called Product groups so what products groups do is basically allow you to track variable compensation factors and then use that plan data to calculate the revenue that's going to come in for each line and the compensation that's also going to be affiliated with that in addition these product groups can be established to meet your business plan so if in one year the percentages of payments are set at a certain level and the next year that changes you can basically use these product variables to represent those compensation plans and the win that that gets when you start to combine that at the opportunity level is that you can actually calculate producer compensation for an entire opportunity but maintain those variables that are specific to each product the second element we address our variables within each line so each policy or service sold typically has a unique set of data for that client some of the variables that I call out here are the frequency of payment whether this is going to be a monthly recurring Revenue stream maybe it's a one-time charge or an annual number these things can be negotiated differently for each client um different percentages of payments so while the premium is set different percent manage with one client may be different with another in terms of the compensation that's going to come down to that consultant the model of Revenue changes based on the different nuances of the coverage with that client and then start and end dates are actually very very different within one opportunity for each different line with our line of coverage solution we actually track all of those elements so we talk about the providers and the plan and payment increments start and end dates and the type of payment and percentages and then those calculations are set up to be automated within that record and they reflect the the nuances with each line and the different way cach is going to come in against that line and then we take that an additional step and roll that data up to the parent opportunity so that you can really look at that opportunity holistically when you're looking at it from a sales perspective but then drill down into that detail when you want to know more about the compensation and about cash flow and the third piece to the opportunity management solution we have is distribution so teaming that we talked about at the beginning can be very variable in this industry and that starts to add a a whole new level of complexity to your Revenue allocation in 100% commission scenario producers are essentially set up to be in effect running their own business and that means that out of their revenue they have the option in many cases to bring in additional resources that they think are going to accelerate the deal and agree to pay them a part of their revenue a lot of times this is referred to as splits and these splits can have their own complexity the first thing to think about there is that the number of produc users involved in a split is infinite while none of us want would like a scenario where we're splitting our Revenue infinitely if you're splitting a $5,000 Revenue stream you might not split it at all or only split it with one other person but if you're splitting a $500,000 Revenue stream your flexibility there to bring other team members on and agree to compensate them can be very different the type of producer involved in a deal can impact the way distribution occurs so if you have somebody that's a salesperson they probably have certain sales numbers and thresholds targets for bonus if you have someone on a deal that's getting compensated and they're actually not on a sales comp plan there may be a flat rate that needs to be applied to that individual and then the the last piece is this start and end date so within a particular line of coverage or for a particular opportunity a producer may agree to split revenue for a limited amount of time so you need to be able to capture all that so what we basically are doing with our solution is taking the line of coverage detail and compensation modeling and blending that into the way the opportunity works and the reason why that's so powerful is because you can start to actually impact sales activity by by producing these numbers that are accurate and relevant to the salese themselves that 20111 teaming model created the foundation for this but we go ahead and use this distribution solution to take that to the next level so having these variable splits creates a an opportunity to sort of assign this and have it tracked and documented both for the salese for sales management and then for finance after the handoff off we automatically have sharing from the team sharing model so that opportunity and Prospect details are all available to anybody who's being compensated on that particular deal we create a more accurate data for pipeline management so that you're not only producing a detailed estimate of your opportunity to your sales management team but you're also giving the relevant numbers back to your producers so so that they know exactly how every deal in their pip is going to impact their compensation and then finally we have both this estimated and then booked line of coverage data that allows you to see an opportunity from that early stage all the way through to onboarding and handoff to finance this makes reconciliation much more streamlined and reduces the man hours it takes to actually work through that process so after that handoff and I've spoken to this a little bit but I want to drive to a little more um the financial part of this is that next pain piece right so sales people are working on their Compensation Plan year and their targets are typically annualized and they're going to need to hit those numbers sometimes months before any cash flow comes in so your cash flow is coming in on either a monthly or quarterly basis so understanding the value of these deals earlier in the process is key to to that compensation piece for your salespeople but then the next piece after you move out of sales is the whole idea of understanding your cash flow so because you have that floating of your Revenue over time it's very difficult to match your Apples to Apples to make sure you know that you're always getting the money that you need to have coming in the door in addition to that with different providers you have different payment schedules and then even different lag time where one provider May pay you within the first 30 days of a transaction another provider May hold off maybe they have a 45 or a 60 day so having those those different lines with their different timing within an opportunity makes it difficult to understand the annualized value of a deal at any point in time and then the last piece here but probably the one with the most impact is when you go through the process of changing a broker of record on existing Revenue um there are a lot of administrative steps and a lot of times errors get made many providers will not retroactively compensate if an administrative error was made so if you don't know that you're missing money the money that you're missing is never coming back um now while one month's worth of Revenue on a particular line maybe $50 it also may be $50,000 so it's very important to know when you have received cash and when you should have received cash for an opportunity so our solution is designed to work through those issues create better estimates for sales by requiring this line level validation um add cash received and date elements so that AR can quickly identify anywhere where there's Gap and create frequency and date criteria so that it's easier to understand where that reconciliation is going to occur in addition you can actually change the way you're reporting on those lines so that you can Target it by provider or by date this way you can get to that data in the format that matches the way the pro providers are providing it to you so after you go through all this process and you leverage that solution and you're getting better information on your opportunities and and you're detailing all this line of coverage data you actually get an additional powerful win you get a an excellent picture of what your book of business really looks like so with the elements that we've discussed you can actually start to slice and dice this data so you can see your book of Business by client right so that's standard but you can also start to understand your book of Business by team member uh by vendor or Provider by the practice or your Market segment and then to take this a step further you can use these same elements to bring in Prospect data um whether that's something a salesperson hears on the street or gets from a source like fre Arisa or Judy dond can actually use that same line of coverage to record your prospect data and be able to get that market intelligence that allows you to Target your salespeople more effectively so I'm actually going to move now into the demonstration of our solution and we're going to walk through and show you how some of these things work all right so the first thing I want to point out to everybody in the room um we are in Microsoft CRM what you're looking at right now is the CRM 2011 beta environment um for those of you that may not have seen 2011 this is what it looks like uh you still have a lot of the same elements but there are some nuances the ribbons a little different so if you didn't recognize Microsoft CRM that's why this is 2011 data and so I'm going to actually go through this demo and follow the same type of outline that I did in the presentation so there should be some consistency for you so the first thing I'm actually going to do here is navigate to an account record um for this particular instance we actually repurpose companies we use them for prospects for clients and we actually use them to do carrier and provider data as well so a little bit of vendor management so let's go to prospex so let's go look at triaa demo Prospect highly original name so here we have a prospect record you can tell they're a prospect because they're indicated as Prospect and the first thing I actually want to show you I'm going to jump to Administration here is the owner so you'll notice that the owner is not an individual here it's a team record and if you look at the naming of that team it's a team that's specific for this particular Prospect so when we're a producer and I'm in the system and I want to pursue this Prospect we actually have set up a custom activity to sort of Drive the validation process and I'll show you how that works we're going to go ahead and create a related producer request custom activities are something that is new in CRM 2011 and we've leveraged it through this validation process so when I go ahead and create that it pops up this new form and I'm going to go ahead and put in a subject line here I would like to my mom is um so I go ahead it's already populated here with the prospect that I am requesting tag for there are different fields here this form this activity form can be customized to meet the needs of your business so for this particular scenario we don't have a lot of validation Fields here but if there's certain criteria that you want a producer to have to submit in order to process their request that can be a accomodated by this form so I'm actually just going to save and close so I'm a producer and I've requested working on this Prospect so I'm actually going to close this and just show you I'm going to navigate over to my activities and in this particular case I'm playing two roles so I submitted the request as a producer and now I'm going to show you what happens from the administrator seat or the person who's assigned to evaluate these requests I'm going to go ahead and since this is my job I'm going to change over and see any kind of producer requests in Q and you see subject line that I have a request that says someone wants to be tagged to an account because their mom is the CFO so I can see this and I can drill directly to that company record and what I'm going to do here is I'm going to go look at the team and I'm going to see that there's nobody in here so I'm going to go ahead and say okay that's fine going to add somebody G to add Laura as a producer and then I'm actually going to close out of this Prospect and I'm going to complete that activity so in the background what's happening here and I'm just going to move to the email so you can see this triaa demo Prospect we have a email that gets automatically generated back to that person who put in the request and lets them know that their request hasn't been processed so the reason why I'm why I'm highlighting this is that with a relationship sale like this we're trying to create an element of validation to that relationship without adding too much administrative work so for a producer they create an activity and they ship it off and then basically they wait until they get a confirmation that something has happened with that their request is dated because we've created this activity so if anything were to occur during the period of request to process There's an actual audit trail that shows that there was already an engagement in process but we're still only requiring each of your users both the producer and the administrator a couple of clicks to complete this process so let's go back over to the company record and I'm going to jump back down to the team and I want to show you how this worked we'll go out to the team and we're going to look at members and there I am I've been added to that team now you're not typically going to go look here at the team the team ownership role here is essentially to automate the security around your accounts your workflow flows and your views so I'm showing you how the code work so we created that team in the team member area and that change was reflected here but what's valid about this is that you can set whatever security role you want these teams to have and then every member of the team will have those access rights so this gets around all that manual sharing or code driven sharing it gets you to a point where the system's just handling this automatically out of the box within this you can add as many team members as you want once they're a prospect or a client you can add account managers and customer service reps all of this detail creates One-Stop shopping for anybody in your organization to understand both who's working on a prospect and then who's working on the clients after the fact the other great thing should have left that open about using team ownership is that those ownership rules Cascade automatically so we can go ahead now and create a new opportunity for this Prospect you'll notice that we have the detail from the account record automatically flowing down to this opportunity the other thing that also flowed down to this opportunity is the ownership and you see the same team here so anybody who's working on an account will be able to see and manipulate opportunities based on that security role so this means that you don't have to pick and choose and manually share each of your opportunities with certain members of your team so the next piece to the opportunity management is compensation so just because you have somebody on a team that's working on the opportunity or working on that client doesn't mean that they're going to necessarily be compensated for this OPP opportunity so this is where that whole distributions concept comes in so I'm going to show you here how we can go ahead record first and add distributions so what you're actually seeing here is a grid view into the distributions entity which you can actually see over here to the left as well um this way people don't have to navigate out to that leftand Navar if they don't want to they can visualize the information right here on the main opportunity screen and if you want to make adjustments and you have the appropriate rights to that entity you can do that here as well so I'm going to go ahead and add a new distribution and in this particular case it's going to be for me and I'm going to indicate that I'm actually sales and bonus eligible and I'm actually going to take 100% of the sales revenue I'm going to be splitting this opportunity with somebody internal so I've gone ahead and put in the basics but that doesn't really if you notice on the right no revenue is included on here right now it's just about the percentages which is fine the other thing that comes with CRM 2011 is the ability to have more than one form and have those forms be tailored to specific security roles so in this particular case I'm enabled to see the information form and I can populate this data but in for distributions we actually have created a general access form because not everybody who has access to this opportunity needs to see compensation some of these people should only see who's working on the deal so if they were to click in this is what they would see this is the general access form you can start to use this functionality to to get a lot of power out of the different elements in your system so it's a great new Fe feature of CRM 2011 I'm actually going to add a second distribution here and we'll change over because I can't do it from that form and I'm going to actually we already put Henry on so let's put somebody different that wasn't on the original company level record put remote in and we are going to say that he is not bonus eligible so I'm going to put down that he has 0% sales but we are splitting the deal 5050 and then I'm going to hit save and close so you see here on the grid that we're reflecting this and we're showing the percentages that was uh the way we wanted to display this for this particular demo obviously the different views you could put into this grid are different you can take that to what you want available at that opportunity level but what's most important is that anybody who is assisting on this opportunity can see what individuals are actually functioning as producers on this deal and then leverage that to get things done um with the people who are incentive the most to do them so right now we're going to go ahead and say this is early stage and I'm going to put in that I think this well wow $100,000 that's pretty low for a key account let go with 250 um that we think that this deal is worth $250,000 so I'm really just guessing um I could put in my estimated close date and the default sales stage is the opportunity exists let's take that up to some data exchange right so the next thing I'm actually going to do is assume that um we've progress to the next level and that we are ready for more detail this is where we're going to show that line of coverage functionality think I got a little click happy there okay reop that one second there we go so again I'm showing you lines of coverage through an embedded grid here right on the opportunity and we're going to go ahead and add a new line of coverage right from that screen so this is the line of coverage for and there's a lot on here um but there's a lot on here for a reason as we talked about in the presentation these factors are critical to understanding the way the revenue is going to flow both at a line level and then how that's going to impact the value of an opportunity so let's go ahead and If This Were a real sale we'd probably go with pending first but we'll just populate some of this data we're going to use a um let's use so when I talked about Product Dynamics I talked about the fact that margin and commissions can be very different based on the product and the easiest way for me to talk about that is to talk about a front-loaded commission scenario with voluntary benefits versus a leveled scenario in this particular case I'm going to use a front-loaded scenario which means that they're going to get the money for this particular case up front and they're going to get a higher position at um sorry a higher percentage as a result of that model I could have chosen something like a a leveled line that typically is spread out over multiple years and the percentage is less as a result of that so there's a lot of different models that occur and the product groups are designed to be able to reflect compensation that varies as a result of that so in this particular case we're going to put in that the premium is going to be $110,000 and I said that this was front loaded so let's give us 65% % of that value and hit yes for calculated so you'll notice that the estimated Revenue has changed but annual has not the estimated revenue is meant to reflect Whatever frequency you've put in from that premium and premium period so this is representative of the percentage of Premium you expect to receive we have the ability to set up the dispersements this way and then create annualized Revenue that's reflect Ive of that frequency these calculations occur automatically you can actually choose no and just physically overwrite that for deals where you're not going to have those sort of calculations but for the purposes of this we're going to leave it to yes the other thing that happen is below in the compensation area we have a variety of numbers that were calculated from that Revenue that's all being driven by these product groups so for example I'll drill into that product group and I'll show you the different compensation percentages that we've created for this product group that's what drives those calculations so while I'm using a very tailored scenario here that speaks to revenue credit and base eligible credits um certain sales thresholds you could actually use this format to meet any of those variable percentage needs that apply in your business model close that window so that's what Chang changes these values and what that allows you to do is understand at a line level exactly the way the revenue is going to be credited to the producers and to the opportunity as a whole the last thing I'm actually going well let's put in a practice just because we should and I'm going to make the incumbent ntic because that's me and then I'm going to actually hit save and new I'm going to create a two of these and the next one I'm going to go through a little faster uh let's go ahead and pick leveled and we'll put in $3,000 monthly at 20% a plan here let's go with X and F again I spoke in the presentation to the concept of having a start and an end date this is what establishes that rolling window so that you know when you should be looking for the cash on this particular line right now now the end date is actually open but in certain scenarios we set that up to be 12 months after the start date for lines where you have an annual renewal process the great thing about that is you can leverage that to sort of manage that renewal and work backwards from those dates to drive some workflow for your people to get ahead of the renewal in this particular case I'm actually doing this to show you something so let's just save and close we're going to go back to that original opportunity and what I'm going to show you is that both of these line items will be in that grid then I'm going to drop down and show you that rollup of compensation so if you think about it between the opportunity management piece and the distributions and then the and then this line of coverage data you're really getting an an very detailed understanding of the opportunity both from a revenue perspective and then from a compensation perspective so we have an area down here called compensation that I would not typically show on this form for all to see sorry I have to refresh the screen um I would in a real life scenario that area would be hidden because I don't think that the general populace is typically going to want access to compensation and you can use that security driven forms model to control that but you see that up here you have your detailed lines of coverage and then down here we're actually rolling up that Revenue not just the estimated annual revenue but based on the different nuances of compensation so you're getting that view of your opportunity that reflects the differences of the line and that product and how that compensation is going to move Downstream the next thing you can do with that data is then push that data down to your distribution so I'm going to go ahead and run a workflow to update my distributions so that initially your distributions are established based on the estimated Revenue that your salesperson put in here at the forecast level but as that opportunity moves through stages you're going to get a better understanding of that revenue and you want to have a number for each salesperson that's reflective of that more accurate indicator so let's go look at the Lara Tantus record let's give that a chance to refresh I'm using a workflow here today and it's giving me some trouble with all these delays are launching yeah so what normally happens is that we go ahead and push that data down and you get those calculations and they occur against each of these records and create those distribution pieces actually going to try running it one more time and see if it happens but that's how you start to get to th those dollar values that are specific to each salesperson so that they can start to have reports that show not only the value of the opportunity as a whole but its direct impact to them the other thing that's really powerful about your lines of coverage is that it's not only associated with the opportunity so for example if I drill back out to the company record I can go over here to lines of coverage and you can can see these lines of coverage so after an opportunity is closed you actually have a book of business log for each one of your clients hopefully clients in addition this is where I talked about putting that competitive intelligence so here where I put new desic if I Chang that and used one of my competitors I would start to get an understanding of their book of business at my prospects as well and I'm actually going to show you that by going back out to the dashboards St closed right so let's switch over to the sales performance dashboard so this data is data that you would expect to see from your CRM because typically you're tracking sales but there are some interesting things we're doing here we're actually able to break out the producer stack information to get an idea of how each producer is doing and that's reflective of those distributions so that you understand how each opportunity is being split amongst the individuals we can also come down here and using that team model you can see how many companies each producer is Curr ly working on um we have the opportunity over here to look at new business by practice in this particular case we're actually summing up estimates of Revenue but you can have the same visualization with those lines of coverage and then of course you've got the pipe and these dashboards the this dashboard interface by the way is out of the box of 201 and it is drillable so in this particular case I can say show me this by market segment show me just that 90 percenters by market segment and we get this so I can start to understand how much is key and how much is core so these are are drillable as well very very powerful dashboarding out of the box of 2011 but instead of looking at this from a management perspective let's go look at something that's tailored to me so in this particular case I'm coming down and I'm looking at my dashboard and with the information we're inputting into the system with those lines of coverage and the distributions I can start to understand what my pipe looks like the pieces that are specific to me I can understand what coverage type mix I have within my personal book of business and a lot of this is also reflecting of that team model we talked about um you can do this by provider or by plan we can look at accounts by industry and then of course I'm getting this list that's just my client list and you can leverage the same my view that used to be based on individual ownership we're actually leveraging that team model so you can do this for Underwriters you can do this for customer service reps you don't have to build a tailor view for them for each category by using that team ownership my view is going to represent each person's specific view regardless of their role or or the teams that they're on and I can illustrate this a little bit by going into the capacity planning dashboard so what we did here was by leveraging the teams and the roles I can start to understand how many cases each of my account managers has or each of my Underwriters and I can look at the flow from the company information on when they're going to be renewing and seeing Peaks and valleys there and I can also turn around and look at this customer list and understand that I have six new customers coming on and I need to find some underwriting capacity capacity and some account manager capacity to handle those customers so using those roles and understanding exactly how many companies your CRM users are working on helps make that decision-making process a lot cleaner and then the last dashboard I'm going to show you is actually that prospecting concept where we brought in data whether that's data garnered from the street or things that you're picking up out of free Arisa or diamond and I can start to prospect differently by targeting that data where I can say hey I want to go after Aon in Pennsylvania because I know that they've changed account managers and I want to see what their plan types or what their provider mix is right now and I can turn around and click okay and now I see that for Aon these are where their provider split are and I know a lot about United's plan so I'm actually going to Target those companies and I can drill in there and say show me who those companies are and out will pop my list so you can leverage again this isn't using anything new this is using the same lines of coverage in tandem without account structure to create a very powerful prospecting tool so that is pretty much the demo and I think I'm getting a little tight on time as well so if we want to have any questions we could do that now see thank you Laura for this awesome presentation um just as a reminder to everybody to ask a question click on the Q&A verbiage located in the toolbar at the top left side of your screen type your question then click the ask button one of the questions that did come through was can this be used online and on premise yes the Sol the demo environment that we were just looking at is actually an online demo environment um but it can be used in both full functionality great thanks Laura another question that came through was what types of organizations can benefit from this functionality so I would typically recommend this sort of functionality to organizations and industries that have 100% commissioning model or very robust commissioning uh scenarios and also where you're working with uh relationship based selling as opposed to very structured territory management thank Flora if anyone has any more questions please feel free to type them in at this time in the meantime I'm going to click through a few pulling questions and we would greatly appreciate your feedback the first question was this content helpful for your business yes or no just a few more seconds great thank you everyone second question please wrate the presentation content excellent good or poor great thank you last question would you like us to schedule a followup yes or no give it a few more seconds for everybody great thank you everyone if there are no further questions we'd like to thank Laura again for the wonderful presentation we will be forwarding out a link to view the recording of This webcast once it becomes available again thank you so much everyone for joining us and we look forward to seeing you on our next webcast you're now free to disconnect thank you I