Zilliant’s first-of its-kind Global AI B2B Benchmark Report reveal where these hidden pockets of profitable revenue exist
Artificial Intelligence (AI) analysis reveals staggering uncaptured profit and revenue in B2B manufacturing, distribution and services companies. On average, B2B industrial manufacturers, distributors and service companies are failing to capture between 9% and 42% in profit and revenue on an annual basis.
For a $1 billion company, that’s the equivalent of $90 to $420 million in uncaptured profitable revenue every year that could be attained – if only it could be identified.
In the past year, B2B industry is facing unprecedented challenges. New competitors, declining customer loyalty and margin erosion paired with the sheer complexity of many customers, products and sales reps, causes a significant amount of money to be left on the table. Unfortunately, traditional business intelligence and/or analytics can’t compute at the scale necessary to identify these hidden pockets of revenue and profit.
Over the past year, Zilliant has applied machine learning and AI-driven analysis to over 2.3 billion transactions. It reveals where these hidden pockets of profitable revenue exist.
There are four categories where companies are failing to maximize their full potential: Customer churn, cross-sell, pricing inconsistencies and misaligned market pricing.
1. Customer churn
The vast majority of companies fail to capture a range of 3.7% to 14.8% in hidden revenue as a result of declining product category purchases and outright competitor defection that could be captured if it were identified.
Cross-sell is measured as missing or underpenetrated wallet share with a customer. This represents product categories that you sell and a customer needs, but for some reason the customer isn’t buying from you at the expected levels, and certainly not at the quantified spend potential.
3. Pricing Inconsistencies
Pricing inconsistencies are transactions that are in some way inconsistent, or have too wide a data variance, and don’t make sense in practical business circumstances. This includes prices that are misaligned to market, product, or customer realities.
4. Misaligned Market Pricing
This category includes: price quotes that are generically rounded and transacted below minimum margin thresholds, or when cost changes aren’t addressed quickly and accurately.
ICE™ partner with Zilliant. They use advanced AI, machine learning, and sophisticated predictive models to deliver customized, actionable guidance to your team in real-time through your existing platforms. With a proven track record of successful implementations in the United States. Together with Zilliant, ICE™ will guide you to identify the hidden pockets of profitable revenue in your business using AI. ICE™will guide you through the organisational transformation and make sure the value is delivered as promised. Together we can support businesses and help the adoption of AI and we will leave you Change Ready!