Our client is a global company that provides information, software, and services to legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare professionals. Compliance Solutions (~$250M a year revenue) is a unit of this company that sells compliance-related technology and content to banks, licensed lenders, mortgage and insurance companies, and investment houses/brokerages.
As a newly formed group, Compliance Solutions brought together assets and products from two separate business units. The leader of Compliance Solutions wanted to integrate the disparate sales organizations and have a holistic and unified go-to-market strategy with a goal to realize synergies and cross-selling capabilities.
The disparate sales teams in the newly formed Compliance Solutions unit had resources that were not optimally aligned to the market opportunity. For example, the greatest number of sellers covered a declining market, while another market with faster growth had less coverage. Our client wanted to optimize coverage in a way that made sense in terms of channel economics (e.g., Inside team) and a market’s potential. They also realized that partners and an Inside team could be leveraged more strategically in the future.
Symmetrics Group Approach
First, we reviewed the current state of their go-to-market/sales strategy and identified gaps and opportunities through a combination of quantitative (e.g., data analysis, comparison to benchmarks, time spend survey) and qualitative (e.g., sales interviews, qualitative feedback on sales force survey) methods. We compared our client to relevant external benchmarks and selling models, while looking to optimize the organizational structure, sizing, and roles and responsibilities to drive cross selling and a rationalized structure. Next, we developed a gap analysis of needs across each of the major areas of our “Way of Sales” model: structure, processes, tools, skills, compensation, metrics, and sales management, as well as included a gap analysis around individual role capabilities. Following, we facilitated sessions with management around future-state role capabilities that will be needed to execute the new go-to-market model. Lastly, per the current state and capability review, we identified programs and initiatives to optimize the go-to-market model, while developing a roadmap and prioritization model to help evaluate timing, sequence and value of our recommendations.
At the time of writing, the Company had begun executing on some of our recommendations – org model, sizing, and roles. We will likely bid on some future state programs/projects related to our recommendations. The recommendations were aligned with the client’s 3-year strategic plan, which we had not seen before crafting ours. The recommendations, analysis and approach were well received by the CEO of the $1.2B GRC (Governance, Risk, Compliance) division.
“Thanks. Great job of not selling over the line. You jumped in when I needed it, without trying to make statements. I think you represented yourselves, and Symmetrics well …” Head of Marketing & Sales, Compliance Solutions