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AirDNA Quote Multi-Level CPQ Approval Process

Customer Info

 

AirDNA is the leading provider of global short-term rental data and predictive analytics.  They help destination marketing organizations, hotels, property managers, and real estate investors to gain critical insights on vacation rentals, make fact-based decisions, optimize their pricing, benchmark their performance, and outperform the competition.

Overview

Find out how RevPartners was able to help AirDNA systemize all things CPQ, creating a systemized approval process and taking full advantage of custom HubSpot capabilities to match their existing tech stack.

The Problem

  • Previously utilized data agreements in place of order forms. On average, 30 order forms need to be reviewed, approved, and sent each week.

  • All handled as one-offs with the AE and Manager. Emails or Slack messages sent to manager for review/approval, but the system did not require this, meaning an AE could have no oversight from manager to send out.
  • Volume: Order forms (aka quotes) continue to increase as the business grows.

  • Checks/Verification: Undefined process and order form could go to the prospect without review. Unchecked discounting occurred, resulting in incorrect pricing (often on annual contract terms).

  • Time Inefficiency: Manual effort required in either Slack or email to approve. No central place for redactions and requires AE to tell their manager what changes should be reviewed. Not time bound. Also, uncertainty regarding who should be approving order form in certain scenarios.
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The Solution

  1. 1

    Standardized Order Forms and Templates:

    • Creation of two custom-coded templates for order forms to ensure consistency.
    • Training on line item creation and extending it through to the order form, reducing manual errors.
  2. 2

    Discount Categorization and Streamlined Language:

    • Categorization of discounts into high, medium, and low tiers for better tracking and control.
    • Implementation of snippets in purchase terms to streamline language and manage exceptions efficiently.
  3. 3

    Automated Approval Workflow and Oversight:

    • Implementation of a system to distinguish approvers based on specific variables.
    • Automatic notifications at every step of the order form creation process, ensuring transparency and oversight.
    • Transition to "closed won" status upon completion of sign and countersign on the order form, reducing time inefficiency.

Impact

Automated and Streamlined Processes:

  • What used to take constant back and forth between either email or slack, now gets routed automatically.
  • Everyone remains in the loop all the way through to closed won.
  • No knowledge of the process needs to exist – a rep could start tomorrow and the automation takes care of the routing.
  • Close dates are 100% accurate based on sign/countersign property.

Enhanced Efficiency and Approval Accuracy:

  • Tremendous time savings across the board.
  • Approver knows exactly what they are looking for when approving (discount, terms changes, exceptions to terms of service).
  • Decreased sales cycle timing, closing customers faster.
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Systemized Checks and Balances:

  • 0 order forms go out without appropriate consent – systemized checks and balances.
  • Ensuring Esurance in order form accuracy.
  • Eliminated bottlenecks.
  • Created a seamless process that factors in all variations of an order form.

Optimal Utilization of HubSpot (HS):

  • Utilizing HS to the fullest potential – reduces the need for an integrated CPQ tech stack.
  • Immense time savings.
  • Revenue accuracy and reporting automated with closed won step date for when signatures are completed.

Voice of the Customer

Dillon DuBois
Senior Product Manager @ AirDNA
"Eric and the entire revpartners team have taken our ops department to an entire new level. Prior to them arriving, our CRM was extremely messy and we really didn't have any in-house HubSpot experts.
 
They were able to come in and make quick changes that have changed the way we analyze leads, deals, pipelines, accounts, and more. 5/5 stars!"
star star star star star
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