Ryan McDermott
Chief Technology Officer
Streamline approvals with DealHub: simplified processes, real-time visibility, and efficient delegation
Anthony Enrico:
I am very excited to have a y’all Orgi, CRO and Co-founder of DealHub with us today. My personal journey with Deal Hub started way before starting Lean Scale. I was actually one of their early customers when I was the head of Rev Ops for a company called Emailage. We were in desperate need of a CPQ and their platform absolutely blew me and my team away. Our ops team loved it, our sellers loved it, our customers loved it, and even finance loved it. I’ve been a major fan ever since and have had a strong partnership since starting Lean Scale a y’all gave the demo himself when I was at Emailage and I am thrilled to have him walk us through the platform today.
Hey y’all, thank you so much for being here. I feel like this is coming full circle, connecting in this way and really excited to share what you have with our customers and our audience.
Eyal Orgil:
It’s a great pleasure to be here. Yeah, it is a full circle. We’re always trying to always convince you and you had to convince me I’d come and get on this session with us, but it was no convincing needed. It’s great to be here.
Anthony Enrico:
Super, super excited.
Well, I think something that’s really interesting for our audience, our customers and people at Lean Scale, we’re in the startup space, we’re in the world, and I think we really love a good origin story. So being co-founder Deal Hub, I’d love if you could share how you got it started and maybe if there was that aha moment that gave you the conviction that this needed to be built.
Eyal Orgil:
Well, I’ll have to give the credit to the aha moment to my partner who’s our CEO. We were actually three partners that started the company, but it was basically he invited me out for coffee and said, Hey, I’ve got this great idea. And it’s like, okay, what’s this idea? We had worked together previously and it’s like I want to build a configurator. It’s like, what do you mean you want to build a configurator? It’s like everybody’s got these things. No, no, no. There’s a whole industry about it. And he brought me in and I think it took him two sessions about taking me out for coffee until I finally convinced me and he convinced me to go talk to my wife and say, okay, this is what I’m going to do. I’m going to leave everything behind and just go work on this. But it was just exciting.
It was really good. I’d been in that world before I was working in sales and marketing in product and it just made a lot of sense and it was just at the right time and it was just really exciting to let’s go try something new. There is a need for it. We’ve got the experience, the knowledge that we believe that we as any startup, you believe you have it and I’m glad to say I think we did have it because gotten to where we have gotten in a very good way. So it was just one of these things someone had to just, I think push me over the edge and say, let’s go do it, and it’s just been a great ride ever since. We’re almost, I think at about 10 years now we’ve been going and it’s just gone by so fast, but it’s been such a great ride so far.
Anthony Enrico:
Yeah, you all have done an amazing job. Absolutely amazing job. I know day one, we were very impressed with the technology, but also impressed with the team. You came with a fully tailored demo. It was like the whole entire thing that normally would take six months to build was built during the demo process. And so we were just, that was an aha moment for us and we loved working with Deal Hub ever since. So yeah, I just think you guys did it in a very innovative way and a user-friendly way and hit a lot of features that are really, really, really difficult to build and you guys make it look so easy.
Eyal Orgil:
Well, that was part of the key thing and not just build another tool that does the same thing. We really wanted something different that really talks to the, I wouldn’t say talks to user, gives the users the ability to do what they need to do the way they want to do that. So it’s very flexible, it’s very configurable and not lock them into it. We knew going into organizations having come and worked in a lot of organizations, they have different ways to work and you can’t just come and change things for everybody. You’ve got to have a way to adapt to the way that they work and different ways that people work. And the one thing I’d say I probably was most amazed is as much as I thought I’d seen everything of how people can work and even how they have their CRMs configured and it’s just that was the strangest thing. Everybody does something completely different and I’m glad to say that we’re typically able to adapt that quite easily into all those different environments, but it really was important to make sure that you can work the way organizations are working and not change the way people have to work.
Anthony Enrico:
Yeah, I think I have found that at Lean Scale too. I thought I knew quite a bit. I did three VC back startups and thought I had seen it all and just realized I was scratching the surface when we started on our voyage too. Absolutely. Well, I know you have some stuff prepared to share today, so I’m really excited to hand it over and have you walk us through it.
Eyal Orgil:
Yeah, fantastic. So why don’t I go ahead and share my screen here and I just want to walk through a few slides, tell a little bit about what Deal Hub is, how it works, and then we’ll have to jump into an actual present or actual demo and we’ll see how things work. When we talk about Deal Hub, while we have a whole bunch of capabilities within the platform, we still refer to ourselves as the next Gen CPQ. And the reason being is that’s typically where the process starts. You’re going to build out a quote, but then you’re going to go through a whole lot of other processes in your sales process or in your quote, the revenue flow. So what we did is we expanded the solution, so we’re not just talking about CPQ anymore, we’re talking about contract management specific for the sales process.
So the things that you need to build out your contract and all. I’ll talk briefly about those in a minute. We’ve got a whole billing capability, managing subscriptions if you’re in that software or recurring business aspect of things. And then the ability to share content in a much more intuitive and engaging way. Something we call a digital deal where often we’ll be referred today as sales rooms. We’ve had this out for quite a few years. I think we were probably the first ones that had it. It’s become much more popular now and we can share content in a much more engaging way, and I’ll show an example of that actually later on as well. What I was referring to earlier, when we wanted a solution that could adapt to the way organizations work, when we first started off the solution, what we did is we looked at what or who are the different players involved in the process.
So obviously we think of the salesperson, that’s the person generating the quote, but behind the scenes it’s the operations person. That’s where I first met you, Anthony. You’re working in that operation side. You needed a solution to put things together and of course there’s the end customer at the end of the process, what are we going to do for them? So for each one of those, we really broke it out in seeing what are their pains, what are their needs and what we can do for them. So from an operations perspective, we put together a solution. We said we wanted it to be configured. We wanted something that you didn’t have to go build out audit code. It’s not going to, you mentioned two, it doesn’t take you months and months to put it together. It’s weeks. Occasionally it’s minimal months, you’re talking 6, 8, 12 weeks a lot of times for projects and all that depending on the complexity, but something that was quick and easy to put together, but more important was easy to maintain it later on because the one constant I like to say that’s going to be is change.
You’re always going to change your products, your pricing, your processes are always going to change and you’ve got to keep pace with those business changes if you’ve got a hardcoded solution, which may be something you need if you’re super, super complex and there’s just no way around it. But that’s what most organizations are not that way. You want a solution that you can quickly adapt it as those things change. So you can do it on your own as well. You don’t have to go back to it and get resources. You don’t have to wait for a programmer if they’re sick or they’re off or something like that, that one person that knew how to do it. You basically have the ability to do that within that category of operations as well is the contributors or the management that works together with it, how are we going to involve them in the process because I’m going to need them for approvals, I’m going to need them to work together with me and we’ll talk about that in the demo in a few minutes, how we can work together with other team members.
So it was important to have that ability to really look at those people in the backend, whether they’re management or whether they’re the operations team. From the salesperson’s perspective, we wanted something that was intuitive. The one thing that is going to be the success of any kind of solution that’s put in front of a salesperson is they’ve got to adopt it. They’ve got to use it to do that, it’s got to be easy, it’s got to be intuitive. It shouldn’t take hours or days, probably hours probably is fine, but shouldn’t be days or weeks to get them trained up and ramped up to the best that they can be. You want something that they can quickly come in there. So what we did is we built a process, which we’ll talk about in a bit more in a minute, where I can basically take the existing processes that they have in the organization and simply plug it into the system, have the salesperson work through the regular discovery, very intuitive training comes down to minutes.
If you’re changing things, it doesn’t phase them because it’s just going to be very natural to them what you’re going to do. And then from the end customer perspective, that was where things like the deal room came in. So first of all, before we ever got to the deal where we pull the document generator right in there so you don’t have to plug in another tool to do that. So it’s all part of the same motion as I’m building out a quote, I’ll get the right contract, I’ll get the right document, sales proposal, order form, whatever you call it, insertion order, and then we can also present the deal room and then we provide a much more engaging experience and start to interact with our customers. But what’s important as well is between these different groups, there’s collaboration and we’ll talk about that between the sales person and the end customer as they’re going through the sales process. There’s collaboration between the sales and that management or the operations team. There’s also collaboration that’s going on. We need transparency of data, whether that’s we’re sharing an approval process or whether we’re syncing information back into the CRM. We have to make sure all that information is transparent. And then the most important, as I talked a little bit as well, is the agility, the ability to change very quickly, and those are the fundamental areas that we put into the philosophy and I think made the solution very successful to where we’ve gotten to today.
Anthony Enrico:
I just want to make a comment, y’all, because I think it’s really important from a rev ops perspective. I have a lot of people ask me too, oh, when is Rev ops going to be done? When are you going to implement rev ops and then you’re ready to go and it’s like, oh, you don’t understand this. I guess maybe this is the first time you’re going through one of these missions, but it’s never done. And I think people dramatically underestimate the amount of change that takes place in your pricing, your packaging, and I also think people dramatically underestimate how big of a lever that can be to grow your business by changing your packaging in a way that fits the market better and allows you to maximize the value of your product. And it’s a huge blocker for some people to even approach that because the amount of work it would take to change your pricing and packaging would just be too daunting. So they just don’t do it. But I know our experience with Hub being able to configure this quickly is also a big growth lever too that I think we gained a really good appreciation for after using you guys.
Eyal Orgil:
Yeah, absolutely. What I like to talk about, you want a solution that you can evolve and not have to be thinking re-implement. A lot of people do with a lot of solutions. They’ll implement it and then they’ll think we ends up happening. I’ll give you another example. If it takes you six, eight months to put a solution out, by the time you’re ready to go live, you are six to eight months behind where you should have been because those were your requirements from six, eight months ago. So you need the ability to first of all get up there much quicker than that and you want the ability to evolve as your business changes, you need to respond to business requirements in real time or near real time. It’s not months. You’re talking days, weeks at most to be able to respond to changes that are required.
Anthony Enrico:
Absolutely.
Eyal Orgil:
Cool. So just a little bit where we’re positioned in the market, so obviously on G two we’re ranked right up there at the top or sometimes it balances low between one and two position as their algorithm works through its process. What I like really is the one off to the right. For the last three years now we’ve been in this list that they put out of top 50 sales products. So the gongs, the sales lofts of the world, the HubSpots, the Salesforce and all that, those are all in that top 50 and we hit the number 10 this year as well. So I think it’s a really good indicator of how well we’re adopted and how important we are to an organization’s process that we’re up there, ranked up there in the products that they choose, changing those a little bit. Let’s dive into how the things are actually put together, what’s actually different about the product.
So as I said, we walk salespeople through a very intuitive process, something we’ve termed as a sales playbook and everybody seems to have come out with the word playbook for everything that they do, but what our playbook is, is our guided selling process and basically what we did is we put together a decision tree type process. So I could ask a series of questions just like I would if I was a salesperson asking my customer a discovery session. I’d be starting off at the high level and working my way in, branching in different directions to try to really understand the customer. And that’s exactly how a playbook can be built. It can be really personalized, meaning depending on who I am as a salesperson, what products I’m selling in the organization, what territory I’m in or anything else that’s important, I can guide the salesperson through that exact right flow that I need to do it.
Now of course, sometimes you don’t need to be guided through that process. You just want to go pick the products and that’s where we put in the guided smart filters, meaning I can ask you a couple questions and already drop it down to three or four products to pick from as opposed to maybe your product catalog has thousands of products so we can work in different ways to really fit the type of organization and the way the salespeople want to go through and pick their products and then help them just answering those questions and pick the products very quickly. We’ve got that quote set up and also configured properly. We’ll talk about that in the demo because you want to make sure that you’ve got all the guardrails in place and all that logic in place to put the right products and options together with you.
So deal hub’s going to do all that configuration for you and what’s super important, everything syncs back to the CRM. The CRM is your source of truth, whatever you’re working, when we work through multiple crm, Salesforce, HubSpot, Microsoft and some others, you want that information or you need that information. Going back to the CRM, that’s definitely part of the process to make sure we sync it back to that source of truth. When it comes to the quoting aspect of things, and you mentioned a minute ago when you’re selling different products, different packages, however you’re doing it, however you’re pricing, and one of the thing that’s also important is you don’t always sell the same product exactly the same way. Sometimes you have slight differences whether you’re selling to different markets. It’s a different, we tend to think of different price books, but it’s not always that I need in different price book when three products that of a thousands are different in a different location, we just need the ability to dynamically price it in the right way, and that’s something we call multidimensional pricing where we can really control the pricing of a specific individual product under different conditions that we have and we’ll look at that in the demo in a second.
I’ll show it. One of the other things that’s also really important as a salesperson, as you’re building things out, you may need to see things like what are my margins? What are my costs? What’s the a RR? Or maybe you need to send that off to the approvers so they can see that when they’re seeing is this the right deal that I want to go and accept the discounts that you offered. So we’re going to calculate all that information for you and it’s not the deal up calculates it the way we want. We give you the flexibility to put in those equations that you need so you can really set it up exactly to the way that your organization needs it. When we’re syncing data back to that source of truth, we’re going to sync back more than just the products that we’re selling. We’re syncing back all the metadata around it so we can capture a lot of attributes around the products that we’re selling because asking some questions during the process, and we’ll see this in a moment as well, you’ve got backend processes, you’ve got RevRack, you’ve got order fulfillment, invoicing and various other processes.
You need a lot of data or you need the right data, the right accurate data in the format that you needed, and getting that back in a format to the CRM is super important. So when it comes to approvals, approvals is not just discounting. If you’ve got contracts that you’re generating as part of that, maybe legal has to be involved in that. Maybe there’s some technical aspects that it’s not always that I’m going to allow you to, I don’t want to just build a configuration for, I want to give you some flexibility, but I need another set of eyes to review it, make sure that we put it together technically as well so we’ve got the ability to go put that together as well. Those different kinds of approval processes or maybe I need someone to look at the overall approval flow and see what’s going on. Somebody went on holiday, things are stuck, there’s a ball in that. How do I free that out? So we created a whole desk doc deal desk approval dashboard where you can go in a master view of everything that’s going on and if you have to reassign people, you can do that as well.
Anthony Enrico:
I was just going to highlight, being in rev ops at Emailage, I was responsible for deal desk, so I think this is another underestimated, just an absolute time waster if you don’t have this set up really well, and I know you’re going to show off exactly how to set it up, but this is one of those features you don’t think about until you’re responsible for it and the way you’ve done it in such a dynamic way is super important and really, really saved us a ton of time and gave me a lot of sanity too.
Eyal Orgil:
That’s fantastic. That’s great. Yeah. One of the other things that we did is put in this online chat collaboration. That means if I need to reach back to you to deal desk, I can say, Hey, I’ve got a question here. I don’t necessarily have to go and reach out to you or I want to reach out to you and we’ll show this how it works. I can reach out to you, send you a message and then say, Hey, can you take my playbook here? Can you do things that you’re allowed to do and you can have different access rights to make various changes so we can actually collaborate together while we’re communicating, while we’re chatting back and forth. And of course you may want to do that through email or you may want to do that through Slack. So we try to make it as flexible as we can as we’re going through that process to do that collaboration.
The thing that we did very different as well is we put contract management right into the quoting process so that as you’re building out a proposal, you may need a contract to come up with you and we can dynamically generate it that what does it mean by dynamic? Well, we tend to think of having these predefined templates, which we can do that or we have a template that changes so I don’t have to manage 10 or 20. We’ve had customers that had 90 different templates and we brought that down to four different templates because different parts of the contract can be dynamic, so they’re going to change based off of logic, based off of their territory we’re in based off the products we’re selling or other information that we’ve read in from the CRM about the customer. So we can put the right information together that’s right for the customer.
We can set up a clause library so we can allow salespeople to change it, but the changes they make are pulled from a library of pre-approved clauses, the legal’s gone through it so we can remove the bottleneck that happens with legal for every time we need a change. We can get that quote out there to them and get that or get the contract out to the customer and get them working. Now where we need to, we can also work with the legal, like I said a moment ago with sales ops back and forth with them to get the right contract out to the customer. Once that quote is out there, we have the ability to go and manage contract revisions. Typically that’s going to be done through a Word document and we’ll talk about how that can work. We can pull our Word document right out of our deal room, do those red lines, put it back into the deal room, let the legal people take a look at that, see if they’re happy with it, and then if it’s ready to go, we’ll send it off for E-signature as well.
And that E-signature happens together with a number of other things in our deal room. The deal room, and think of it, like I said, a sales room. It’s a virtual conference room where we can share content with all the different stakeholders. We can invite different people to come into that link. It’s like a website. There’s a link that goes with it. Obviously anybody wants old style download PDF. You’ve got that ability to just download that contract and PDF, but then we add other elements into it like online forms. I’m capturing your shipping information or your billing information depending on what I need to capture from you. We’ve got a box environment right in the deal room that we call a deal box. So I need you to look at my security document, my SLA, my MSA, and I can just drop that in for you and then the different stakeholders can look at that content.
Obviously if I’ve got a contract and I need to append another aspect to it, like an annex appendix to it, we can add that right into the document as well through the deal room. And then we send it off for, we don’t send it off for E-signature. These signature is just right in there in the deal room and we’ve got our own native e-signature built into the product. We also integrate naturally with natively native integration with DocuSign, so we can do that. There’s also a chat capability built right into the deal room as well. So between the salesperson, the customer, they can engage and as a salesperson, I’ll actually get real time notifications when people are looking at the deal room, sharing it, filling out the form, downloading it or signing it. Of course. And this is always great at the end of the quarter or we’re watching the people coming into the deal room, we’re seeing them and it’s, I’ve been told it’s going to the C ffo that oh great, CFO just came in and it’s great and we know things are moving. They download the doc and that’s a good sign because they like to see it in PDF because we’re old school. So they download in the PDF, make sure they got the right thing and then a few minutes later we got the signature. So end of quarter, it’s just fantastic to see that deal stream going.
Anthony Enrico:
Yeah, it’s a fun experience for the sales team deal desk, great experience for the customer too. For anyone who’s out there buying enterprise software, it can just be a nightmare and unbelievably annoying. So having this, and I also think it gives you a level of polish to your company. So okay, you’re buttoned up in the way you go through this whole process. So that type of Polish equity also relates to your product or service that you’re selling to, which I think is a big plus.
Eyal Orgil:
Absolutely, it’s a differentiator. It really differentiates your brand now because, and we’ll look at an example of a deal room later on because you take your branded look and feel and you put that into the deal room. So it’s an extension of everything you spent on your website, you brought them into your site, you’ve talked to them, you’re engaging with them in the same brand, look and feel, the same environment, and it just gives a much more professional look and really differentiates from a lot of the competition as well. So yeah, it’s definitely a great thing and people love the deal room. So why don’t we take a look at how things are put together. So let’s jump over to another screen here. I popped up a Salesforce screen, but it works the same way if we want to work through HubSpot or anything, we basically put a couple buttons, so depending on the crm, it’s going to look a little different.
Usually it’s the two buttons that we’re looking at, create quote or view quotes, and I’ll just jump back to Salesforce. We can see that as well. Basically view quotes let’s us look at any quotes or contracts that we’ve already generated. We’re going to keep track of those and create quote is going to give us the ability to go jump in and build out a new quote. Now depending on the CRM, if it allows it, Salesforce is one for example, that allows it. We could have the deal hub come up right within the canvas over here in HubSpot, not yet, it’s coming soon. They’ll have that ability or we can open it up as a separate tab and this is the deal hub environment over here or basically the playbook. Now we’re going to read in any relevant information that we need. So as a default, obviously things like the territory, whether it’s the country, the city, the state, you’ll configure it.
We’re going to read in the currency, but we could be reading a lot of other information in the background. Maybe I’ve already agreed to some payment terms or I know it’s a certain kind of customer that gets preferential treatment. Whatever information can help us to build out the proposal, we’re going to bring that information into it. And then the salesperson is going to walk through a playbook, and this is an example of a playbook and every playbook is completely different. It’s configured exactly to your flow. I’m showing an example of a software SaaS solution. So the things I’m going to pick first of all are products, and then I’m going to go to process of picking some implementation service and support. I’m going to make some contractual changes. So we’ll see how that CLM element comes into it and even add in some additional materials in the process that are going to enrich in my proposal for my deal room or even the document that I generate as I go through that.
We’re automatically going to add in the relevant products and services right here in front of us. We don’t have to pick and choose them unless we go through that manual process. And down below we may want to add all kinds of different metrics. You can call it what you want. Here we just call it deal economics. Maybe in live I want to see the A RR, different elements of my subscription or whatever it is that depending on what we’re going and configuring, we can have those totals come up or those different configuration, sorry, calculations that we want to generate. So how does the playbook work? Well, simply all I have to do is come and start looking at the questions that are presented and respond to them along the way. I can be provided tool tips, which should be text or images. So think of a new person coming in, they aren’t quite sure what to do given that extra guidance right on the screen.
And then based off the selection that I make, I can already set it up to give me the next relevant question. So an enterprise solution has got about four different questions that need to be added over here, but what I need today actually is just a standard solution. So it’s only a couple questions that I need to answer. So as you saw that I looked a decision tree, it branched off in a different direction based off the product that I needed. And what it’s actually gone and done is it’s actually built out a couple products that I need for me as well. Bring that all in here. So a couple products have been generated, Y two products, maybe there’s a prerequisite or a dependency. And again, you’re going to build the logic of what’s right for you, how your products are actually configured. Now let’s give an example.
I talk about our multidimensional pricing for 20 users for three months. The list price of the unit price is $75 per user. Let’s just go up to the top over here and just randomly click here at 430 users and the price just dropped to $48. So there’s a tier structure in the background. It’s actually changing the exact same sku. So a lot of times you have to have a different S skew for these things right there. One SKU did what two SKUs did, but now let’s go change the duration to let’s say 36 months and the price dropped to $33. It actually, I dunno if anybody noticed, you can go back and look at the recording. It’s the same sku. So if that can help you, we can work with three different SKUs there or you could have just left that and have one skew and have that different price automatically adjust itself.
It actually adjusted the price on the second line as well. So you’re going to build the logic of how my products behave, how dynamic are they based off of any input that you want over here. In this case I did it off the duration and the user licenses, but obviously if you’re selling in a different environment, it might be how many square feet I need of something or how many feet or miles or whatever or pounds or things like that that I need of the specific units that I have in whatever I’m trying to build or configure for me. So I’m going to go to the next section, project information. Again, it’s going to be configured to what you need. What I’m just trying to show us different capabilities over here. Here I’ve got a project. One kind of project is called stay current and stay.
Current projects are measured in years and the relevant values are one to three years, but if I were to pick an upgrade project, those are actually measured in months. So we can see the question automatically changed to another relevant unit and a different set of options. And I’ll just show one other change here, new development, it’s still in months, but it’s got a completely different set of values so we can always present the next relevant question and the only valid responses. So I’ve got a valid configuration, very different from a lot of ways of ways, a lot of other CP Qs work where you’re picking products and maybe doing a validation later. The validation process is built into the playbook. Why is that important? Because that’s going back to what we said for the salespeople, it’s intuitive. I’m not saying go build something and then I’ll tell you where you’re wrong.
I simply walk you through, guide you through a process that just gets you to the right products that way you need it. Now, I could have even answered just one question to get all these products and that’s as a default. I have default template structures that I want what I’m selling and then maybe make changes or as I’ve gone through as I’ll continue to go through. I can go through one by one through questions. So there’s different ways to set this up for different levels of experiences from the sales team or different things that are important for the salesperson. One things that we do with our projects is we always tell our customers, bring in your best salesperson. They’re going to give us a really good flow that they work through, but bring in the biggest complainers as well. They’re the ones that always get stuck on things and anybody who’s a sales operations knows who those people are and sometimes it’s actually crazy.
It’s the same person, but you need to make sure that the salespeople like this process. And as we’re building out deal hub about things that because we’re configured, you can start building this out and show it in real time and you bring in those salespeople as part of the process say, Hey, do you like this? No, you want to change? Great. Let’s do this and this and this. By the time you’ve got this built out, they’ve already been involved in it, they like it, they see the value and they’ve been involved in the process. They go out and become your champions and it works spreading the message out through the rest of the team. So really can be designed or changed at any time exactly to what the salespeople want as your conditions change or your products and processes we talked about earlier, go change of course.
Things like mandatory, making sure salespeople don’t forget certain things sometimes they want the ability to go and customize. So a special service for August, 2024. Let them have the flexibility. You want to give salespeople freedom to do things but put controls around. Now that might’ve triggered off an approval process. In my case it doesn’t today, but I’ll show some examples of where we can trigger an approval, but we can set up things in a lot of different ways. Maybe I need a project team automatically plug in the right people, let me go and change it, but also put some guardrails around. So here I’m trying to click. If I try to put in five hours, it’s simply not going to let me because I’ve got different thresholds. So again, validation built into the process at all times. I’ve got a valid configuration set up for me as you can see it live updates it. So I’ve always got that configuration ready to go. So far so good, right, Anthony? All this stuff I think already.
Anthony Enrico:
Yeah, all good. And I just want to want to highlight the difference between using deal hub versus some other CP Qs deal hub is like having your sales rep fill out a Google form versus giving your sales rep a 20 tab workbook in Excel and expecting them to figure it out. So the controls and the intuition are really, really important because like you said, if it doesn’t get adopted by the sellers, then they’re just going to go around and build things manual and send ’em off anyway and bother other people to build their proposals for them. So this really, really guides them and makes it super easy for them to put it together.
Eyal Orgil:
Absolutely, it’s exactly right. Let’s take a little twist on things now we’ve done the quote and like I said, sometimes it’s one question, sometimes it’s 20 questions, whatever’s right for your organization, but oftentimes what you want to do as we talked about earlier, is build out the right contract together with your proposal. Now that might be as easy as changing the payment terms. This is always where the operations, I show this and the operation’s like, oh no, we don’t let them do that, but paying on a second, I put some controls in place. There’s a little note that says, look, if you change it other than 30 days, you’re going to need an approval process. And if we slide down on the page right on the same page, we’ve got the ability to go see an approval process come up. Now in this case, we’ve done a multi-step approval process.
We’ve actually got a group approval, which really works great in deal desk type environments where the first one that comes in as long as one of them approvals it or sometimes you need a situation where they both approve it so you can set up according to the logic. Now the logic may go a little step further in saying when there’s deals say up here, I got a deal at 588 K, if it was over 600 K, yeah, we allow 60 day payment terms at that point. So you can really set this up exactly to the way they want. Really think of it almost like putting if then and or type statements together. That’s the kind of business configuration we’re talking about. It really makes it simple to go set these flows up or pretty much anything in the system is done that way, but in the approval processes especially,
Anthony Enrico:
Hey, I have a question. When reps see that, when they see, okay, maybe I’ll give in, I’ll do the 60 days and then they scroll down and they see, oh, that’s going to require some approvals. Do you see reps say, oh, I don’t want to go through that process. Let me put it to 30 days and see if I can fight for a better deal.
Eyal Orgil:
Well absolutely that’s the transparency there that we’re showing the immediately we’re showing it to the salesperson, this is going to happen if you provide that 60 day or it could be a combination of things. Again, you could be putting in tool tips or they know their configurations when they’ve hit certain threshold or maybe through the different margins that they’ve calculated here. They know that that’s why it triggered an approval process. So they can go play with that and the whole idea is it’s all on one page. You’re not tabbing away from it and later on finding out this isn’t approved, now I got to go back and make a change. You can make those changes simply go back up. If I didn’t like that back, the 30 days drop back down approval process has gone away so I can make those instant changes. Or if maybe it changed.
If it went I went and did my discount and then it got over the 600 K, then it allowed it. So I have that transparency right there and real time visibility, I know where I’m at and I can go make those changes. So definitely we see people if you want to call it playing with that, but that’s what you’re doing when you’re building a quote something, you’re really trying to figure out what’s the right combination. Maybe not to go through an approval process but still get the right deal that I can get out to the customer.
Anthony Enrico:
Well, I think a lot of good reps will follow a path of least resistance to a point and say, Hey, I’ll give a concession on this if it’s going to help get the deal done because it doesn’t matter that much to me personally, but if I think I’m going to have to go fight with my CFO over this, then maybe that’s going to make the deal take longer. So actually it’s probably easier to just fight for this term instead of going through that process. So I just think it’s good they can make a decision as they’re going through the flow and figure out the best way to get the deal done.
Eyal Orgil:
Absolutely. As I’ve said, everything is updated in real time, so any change that you make, whether it’s the approval process or whether it’s the products you’re selecting or options and things like that, that’s all updated in real time. So yeah, it really makes it easy to go through that flow and obviously as you start to learn the system and it’s very easy to navigate through it where you got to click and literally within minutes you can do it, my sales team might tell ’em, I go get a quote out, they come back to me three, four minutes later, say the quote’s ready and we’ll see in a minute what that actually means with a document and everything around that. So it really saves a lot of time. Other areas we can go into this one, I like to show operations people, it scares them really crazy.
I said, look, we can let the sales guys go in and just edit the contract terms on their own and they’re freaked out and say, whoa, just wait a second. I wanted to show that because that’s a capability that we have in the system. You don’t have to make that available to salespeople, but I do want maybe the legal people to be able to do that. So the way I’m going to go collaborate with another team member, I just first save off my draft over here and then we’ve got a little button over here in the top, it’s called Deal Talk and I can basically go look for one of my team members. Lemme just scroll down over here to Chris and drop Chris a note. I’ll just skip on the note for now. But basically I’ve got a chat set up over here, our Google type chat set up over here.
He’s going to go get a message and he’s going to get a link to the deal room and he can come in and actually Chris is going to have the ability to make this change. The legal person, he has the access rights to do that, so he’s going to go make those changes. Once he’s done, he is going to drop me a note back. I’ll get a message either if I’m on the screen or through a Slack message or an email. If that’s where I’m at, I’m going to get a notification. You can go back in, continue with the process and then I’ll continue and I can obviously view what he’s changed, but I won’t be able to edit those changes so we can work together as a team to get that out. Now in many cases, we don’t want that step because one of the things we’re trying to do is also ease off or speed up the process of not having to go through a lot of different people to build it.
So in my demo, I just called this pre-approved clause. So here’s some changes Mr. Or Mrs. Salesperson, you can go and make on your own. So for example, maybe you want to take out the automatic renewal and we allow it because that’s something we give some flexibility to salespeople or we may put an approval process around that as well. Or maybe there’s a yearly increase that we give them some flexibility. So again, as I said earlier, it’s all about giving the salespeople some flexibility to do things that they’re late to do and we don’t have to run to legal every time that we want to go do that. And we’ll see that in a moment in the document that’s going to change in there. Now, it might also be in the MSA in our case, we also show in our demo over here where we can go and make some changes as well.
What I like showing about this one is here it says use of logo is allowed or requires the customer consent, but if I come over to the tool tip, I can actually put the visibility in front of the salesperson. Here’s the standard clause, here’s the clause that it replaces. So we can really show the team if they want that level of information exactly what’s going to happen when you make those changes. So it really provides a lot of freedom to the salespeople. Again, I’m showing a lot of different capabilities. Not everybody needs this much detail and all that, but the flexibility is there, the capability is there. It’s a matter of simply configuring what’s right for them and maybe under different circumstances you’re going to allow these as well. Let’s just say today I don’t want to go do that, so we’re not going to make changes to that MSA today.
Lastly, what I want to show is we have the ability, well, what’s important when I send out a proposal is to really get the right information out to the customer. It’s going to additional stakeholders. People need to see additional information. Sometimes what we want to put together is maybe a case study. Now I want to put the right case study together, and I always remember before being at Deal Hub, I was in marketing and I always had salespeople coming up to me and saying, I need a case study, and what would I ask them? Okay, well what country are you selling into? Okay, what product are you selling? Is there any specific feature that they need? And then based off of that, I could say, okay, based off the questions you’ve just answered, here’s the right case study or a couple case studies to choose from.
Well in deal hub’s case, I’ve read in some information from the CRMI know where I’m selling, I know exactly what I configured for them. Why don’t I just go and recommend for them, here’s some case studies that are really relevant for this specific instance so we can become a recommendation engine and actually help put the right information in front of the customer. So it could be selecting on your own or here’s some recommendations or actually just plopping in the right one if we want to do that as well for those salespeople that don’t know what they’re doing. So really make sure that’s going back to we said, take the knowledge of the best salespeople. This is the case study that works in these cases. Put that one in automatically, that’s got a better chance of helping you win that deal or at least progressing the deal further if it’s not going to win it outright to start with.
And then other things you might want to do, maybe I want to go and put in a project plan like an SOW, which is opened up a new section for me, and I might want to go through that and okay, I want to say, yeah, I know we’re going to need three milestones. Just as a note, this may be another place where I go to another team member and say, Hey, put this together for me. You’re the delivery team. Why don’t you put that SOW together for me? So they’ll come in maybe and have the access rights and change the dates, or I’ve got some texts that’s been preloaded, it’s just some Laura mips, so please nobody try to read this. And maybe I’ll just add in a couple bullet points that I want to make some adjustments to that or redo this or things like that and have recommended content again as to what I want to appear there. So a lot of different things we can do with the playbook, putting the products, the pricing together, the content they want to include to the contractual, and then the next phase, I’ll just pause there in case you want to say something, but is we’ll get into the creative side, which is always the fun part for the salespeople, but a lot of capabilities there in what we’re doing over here.
Anthony Enrico:
Yeah, the creative accounting side, this is the fun part. No, I think, like you said, most deals are not going to have all of these components, but I really appreciate you showing off all the different capabilities because those are usually the questions that come up as the gotchas like, oh, well, my business is super unique and you probably can’t do this. No deal hub. I don’t think I’ve run into a case yet where you all can’t accommodate the way a company sells. So it’s really, really powerful. I know you went through a lot. It’s normally like a two minute process to get something out the door, but I appreciate you showing off all the capability.
Eyal Orgil:
Cool, cool. So let’s look at the creative side. That’s the more fun side is we’re a salesperson, we built the products and all that. What can we do? Well, of course we can discount at the line level or if we’ve negotiated with the customer, we said, this one’s already already talked about $480,000 for this. Lemme just lock that price in. So that’s going to stay there as a default. Maybe I want the ability, again, we talk about flexibility for salespeople where we can raise the price because when we show the discount, and not every organization allows this, but some are okay with this, say professional services, it’s going to be a little higher than what we thought. So let’s go and raise that list price and then we’ll discount on top of that. I can go discount on my overall proposal. Or let’s say the customers come back to me and said, look, we’ve only got $450,000.
Let’s even see if this is going to allow it to me. And yeah, oh nope, that’s too high. We can’t get quite that low, but we can get around 495,000. So okay, if I go back to them or if they told me four $95,000 and Deal Hub will go and work out the discounts for em. Obviously some crazy discounts over here, but that’s fine. That’s what we’re allowing them to do. Now what you’ll notice on the discounts is they didn’t spread evenly, and that’s because we have some logic in the background as well. So that first line, we actually locked off at 400 K, so nothing changed over there, but the second line in the bottom three, we’ve got some maximum discounts. Now, depending on what you’re selling services or typically when it comes to especially hardware type equipment, all that, you’ve got costs and margins that you got to take into account.
So we can actually lock off the maximum discount. So it’s simply not going to allow you to exceed that, and then it’s going to cap those off at a certain discount. Now even that has one more layer of logic onto it. What happens when I sell into emerging markets? Maybe I have to be more competitive. So we can actually have another layer of logic saying, having read in that I’m selling into maybe somewhere in South America, that I need to allow 35% on that product so that in that case it would actually dynamically allow me to have a discount up to 35%. So a lot of flexibility to really adapt to the way that your product and structure works for different regions. And what’s also happened is I’ve got another approval process. So here we can see the parallel approvals coming into play over here.
Now, here on the approvals, in addition to making, like I talked earlier, commercial legal and technical, and we’re seeing here some sort of legal and commercial here also, we add some other elements into that to remove some of that bottleneck. What the big thing I would say about that is you want to get the right information to the approvers. So what we’ve set up is the ability that each of the different approvers, let’s say Steve, Tim and Theresa, they’re in the same flow, but each of them are looking for different information or want to know something specific about it. Theresa’s our CFO, she wants to see costs and margins and other calculations that maybe only she should be seeing. So we’ve captured this information, calculated it, and we can present that to her in her email or Slack message that she gets. Tim is the regional vice president wants to see a breakdown of the software and services, and Steve just wants to see the entire quote completely maybe and just look at that over sort thing.
So they’re all in the same flow, but they’re all getting different information Now as each one of them approves it. First of all, the salesperson when they submit this, they’re going to put in the reason for the approval, and then Steve’s going to put in his message and then Tim’s going to put in his message and by the time it gets to there, she knows everything that everybody saw and what they said about that, why they approved it. So we got full transparency through the process so that we can see what’s happening over here. Of course, if along the way say Tim rejected it, went back to the salesperson, they made a change to the quote, you can set thresholds, does it have to go back through the entire team or can just jump back to Tim? So we’ve got that advanced approval workflow process as well.
It’ll just jump back to Tim and then it will move on to Theresa as well. And as I said, as an admin, you’ll be able to jump in. Tim went on holiday, he didn’t let anybody know. You can jump in as an admin, check out the dashboard, say, oh, I can see that it’s stuck over there, and go and reassign either the specific quote that he’s been sent to approve other quotes that are already stuck because the other flows he’s in or even going forward, anything that comes in the future as well. So you really have a lot of flexibility to make sure you can reduce that bottleneck. That was something we released probably about a year and a half ago, and it’s just been super popular. Everybody has those issues and just giving you that ability to have that master view of what’s going on has been super, super helpful for organizations.
Anthony Enrico:
This is where it can get really messy and I think teeing up the relevant information to the right person, letting the rep know, okay, I got to go give Teresa a call. I got to go give Mark a call. This really, really streamlines the process and this is the part where I feel like you can end up with days, weeks type of delays in getting something out the door.
Eyal Orgil:
Absolutely, I’ll say the one thing that I always say is a tip of it, just the fact that you can do it, don’t always do it. We got some customers that what they do is say, oh wow, I can put approvals for all this, and all of a sudden they put a CPQ together and they’ve got days and days of approvals that they never had before because they just did something that wasn’t right. So obviously as part of a process we come in or working together with partners you, that’s part of the best practices of saying how to do it properly, do what you need to do, but make sure you don’t lose that streamlined process. You haven’t done anything there. So those are definitely things that we watch out for and we’re pretty good at and we tell our partners as well, tell the customer, no, that’s not the right way to do it. It’s not going to work that way. Just because you have it doesn’t mean you need to use it.
Anthony Enrico:
No, that’s a good balance. Yeah, I mean from my experience, I’ve been on one extreme where we’ve had reps writing their own MSAs and throwing in wild language that nobody even saw before it got signed and then complete just molasses and quicksand of taking forever to get deals. So it definitely has to be balanced if you can err on the side of get the deal done, I think that’s always best.
Eyal Orgil:
Absolutely. So we’ve looked at a number of different things, how we can put together things. Now let’s take a look at what is that output, what are we actually going to generate? So we have the ability, if you want to work the old traditional way of having different templates for different situations. A couple things to that. First of all, we can have that dynamic, so only the templates that are allowed to be based off the conditions you’re selling in. Or we can have a completely dynamic document that was generated. I’m actually live generating it now, so it might take a few seconds. But why that’s important to make it dynamic, because there may have been other things that I asked the salesperson as they were building out their proposal. Like for example, do you want a cover page or a cover letter? Do you want to show discounts at the line level, the quote level, or maybe no discounts at all?
So those are questions that can come up in the playbook and then the document will generate according to that. That’s the importance of the dynamics. So we’re giving flexibility to the reps to do things within certain controls, but that’s important for them to be able to get it out the way that they want it to get it out. Now I’m showing an example of a very detailed proposal. It might just be a one page summary. Like a lot of times we just send it one page, here’s your pricing sign here, or you sometimes want a much more detailed, but you saw it in a matter of seconds. We’ve generated this cover page. We’ve got a cover letter. The red here is highlighting the things we picked in the playbook or the totals that we included. So it’s already personalized it and customized it. Just to note the watermark is there just because it, it’s a preview we haven’t added got approved yet.
So of course another guardrail we want to put in place that the reps don’t send it out yet. Maybe a solution overview that you want to include was automatically added in. There’s the case study that I selected for Forest Associates that got added in. There’s my pricing now here. I decided to break it out into software and services. If I was selling to different sites, actually we didn’t go through it. We can generate different options for customers as well. All those can be broken out into different tables and you’ll notice the tables don’t have to look the same. So services not getting into that discount story. So we simply don’t show it in the software side of things. Okay, we’ve shown the quantity, duration discounts and all that and broken it really out there for them. Do we need to calculate some subtotals for them?
So what was the total software services so they can quickly see that? Maybe even calculate what’s the yearly uplifts that could have been from the playbook or just simply we have a policy that we put in place every year, we ramp it up and we can show those totals to the customer terms and conditions that we put together and the changes that we made. So we took out the automatic renewal, 6% increase, 60 day payment terms. One other thing people don’t always realize it’s important, especially if you’re a global organization. What’s the right entity? Did the salesperson the wrong entity? There’s a lot of financial impacts to that sometimes. Did they pick the wrong template? Well, we didn’t let them pick the wrong template. We simply put in the right entity automatically. This is a legal document at the end of the day when it’s signed off and there’s our SOW that we put in.
You can see the couple bullet points that I just put the gibberish in there. So we can generate a lot of different kinds of content in a lot of different ways. So really a lot of flexibility to generate whether it’s a one page pricing summary that you’re going to want to include, order form, type style, or whether you need a really detailed proposal with a lot of additional information and it’s just a matter of seconds. And again, I could go back and now regenerate it in a different format and I’ll get a different document that will come out for me. So that’s the way we generate. Or I like to call the 1990s way to go sell through a PDF document, though I know at the end of the day we have to sign off electronically on A PDF and that’s fine and that’s why we always have that.
But the more exciting way to do things is the deal room and I just grabbed a customer earlier so it’s not their actual deal room. So it’s something we show when we do a demo, we like to show customers how we could look. So it was something that we had done at the time and just an example of what it can look like. So this is a company called egio. We took it off their website, their branding, and when we do a process, obviously we work together with their marketing fully brandable to whatever you need and you can decide it’s all dynamic as well. So do I want to put a little intro over here? Do I want to show about my customers? And if I’m selling to a different market, I’ll put different customer logos in. Maybe I want to show a short video early in the process and we can send out a deal room even early in the process.
So early in the process, here’s a high level overview of my solution, but as I’m working through the process, I know what products I’m selling, it’s specific to what they need or as I get towards the end of the process, maybe I want to show the customer success process that’ll happen once they go live. So a lot of flexibility to change things as we’re moving through the process. What you’ll notice here is I can go and do another deal, talk with my salesperson now the customer and I can drop them a little note. So as I’m going through this, they’re going to get a Slack message saying, Hey, can you tell me more about this? Or maybe in a second we’ll see the pricing. Can you give me more information about the pricing? So a lot of different information we can provide over here. Maybe pull in some things from their content management system.
There’s our pricing. We actually have the ability to show multiple options here as well. In this case, I just got one option, but I could have shown multiple options. There are terms and conditions, the online forms where I can capture information and what’s actually missing here, I don’t have this widget over here is our deal box where I can actually drag and drop documents. So when they say, can you show me your security document? This is the customer now looking at, I’m the salesperson in the background, I’m dropping in that security, that SLA, that MSA dropping it and then everybody coming into the deal room can look at that and of course we have the ability to sign off electronically later on, view that document and sign off on it. Now, just as a note too, deal rooms just to give a layer of security, we’ve got two different modes.
We can use a public mode where anybody gets the link and come in and that’s sometimes fine. Some organization want a little tighter security so we can do a private room and then you’ll have the ability to actually compose an email right from deal hub, send it off to a customer and then you can decide if you’re going to give them the option to have the ability to share it with others, in which case you’ll know at all who’s looking at it, what are they doing, and there’s a deal stream that lets us know exactly who’s come into the deal and all the different actions that they’ve taken. And as a manager you can also dive into your individual team members and see all the deal rooms that they’ve got out there and who’s looking at them as well. So I don’t have to wait, like I said, end of quarter, I wasn’t just looking at my own deal room if I was selling something directly, which nowadays I don’t usually have time for anymore, but I’m going into my individual team members and I’m seeing what they’re sending out to their customers and how their customers interacting.
So they told me someone’s looking at it, if I want, I can just go check and see did they really look at it? But I trust my team, but I just want to, when I’m not available to them or don’t have to call ’em every two seconds, I can simply go into their deal rooms and track that and see the ability to see what customers are actually engaging on that deal room. So great experience, like I said, super branded way to get your message out. Any kind of content and deal rooms can change as you go through the process. It’s a really new and unique kind of way to sell and you’re seeing more popularity. The nice thing about this is I didn’t have to go and drag content in because they either put in the right content for me or let me select the right relevant content for me so that that deal was ready instantly and if I make any changes instantly can republish it and I’ve got those new changes available to me.
Anthony Enrico:
I think this is one of the fan favorites of our customers who are using Deal Hub and when we were using Deal Hub, just getting this in front of the customer and keeping everything organized for the customer, it’s so impactful and the customers love it because if all the information in one place, they’re not like sifting through links that you sent over Slack or over email or trying to find certain documents or what’s the latest version of something If you’ve been working through a deal for a long time, and like we said earlier, it just puts a nice level of polish on the experience you’re providing and that hopefully translates to your product or service too.
Eyal Orgil:
Yeah, absolutely, absolutely. Maybe to close off things, just talk about what happens at the end of the day or at the end of the process. So we see, as I said earlier, the CRM is the source of truth. That’s where you need the data back and everything that deal hub generates or calculates is all going to sync back. So the products that you chose, the metadata, and you can have endless number of points of metadata that you want based off on specific products. So start dates, end dates, calculations of a RR, whatever you want, that can all be calculated at the line level. All that information is going to sync back. That’s where you need it back in your source of truth. The documents that we generate are going to sync back. Obviously once a document is signed, it’s going to sync back over here, your approval process, jump in right from your CRM and take a look at who’s in the approval process, what’s their status is either waiting approved or rejected.
Any comments that they provided, that’s all going to be available. One of the other unique things that gets underrated sometimes what we sync back is the responses to all the different questions that the salespeople did. Imagine a salesperson, you’ve got a hundred people on your sales team, everyone’s going through four or five different iterations. You’ve got a lot of data to understand the behavior of the salespeople. Which products did they select together we talked about earlier, did they go back and make a change to the product? So it would go through the approval process if you’ve got a BI system or even without it sometimes. But a lot of people like to plug all this data into their BI system and really analyze the way their team is interacting with your process that you put in place for generating products. All that data is going to be synced back, all the questions that were asked, all the answers that they gave, and obviously if you’re working through multiple quotes through a quote object, you’ve got the ability to capture all that information and then finally, any other information that you want to sync back. Every one of those questions that we answered can individually go back. Any calculations that we’ve done can all sync back over into your CRM. All that data is there in a structured format letting you do those backend process and any other things that you need to do with that data.
Anthony Enrico:
I love it, I love it. And we used a lot of this data to track how long is it taking deals to get through the pipeline, what are the bottlenecks so we can improve the processes? And this type of data really, really helped. Of course categorizing all a RR one-time fees, splitting that out so you can have everything ready for rev rec two. But I think a lot of the data that your platform provides also helped us dramatically improve our processes so we can get deals out the door, get things out faster.
Eyal Orgil:
Absolutely. Absolutely. Yeah, there’s so much data that you want. So Anthony, I wanted to surprise you as well. I’ve got another section I want to show
Anthony Enrico:
You. Yes, love surprises,
Eyal Orgil:
Just a mock up, but it’s the design of what’s going to be. It’s to show you what’s the next generation of our contract manager. We’re actually putting together a repository and we’re going to help the legal people now keep track of the contract. So if you want I’ll go through it, but if you don’t, I’ll let me know.
Anthony Enrico:
I would love to see it. Love to
Eyal Orgil:
Alright, cool. So we’ve got it teed up. So let’s take a look at this. Now this is a new kind of view that I’m not sure if you’ve seen it yet, it’s just been starting to roll out to our customers the whole idea where we give customer, or sorry salespeople. In this case I’m looking at a legal person’s view, but if I was a salesperson, I’d be looking at any quotes or deal rooms that I’ve got out there and I can actually build my own filters or have filters assigned to me. So in the case of a legal person though, what I want is to be able to filter through different products. What are the ones that were assigned to me or what are ones that I like to look at to go back and take a look at what I did or maybe I want to drop into a specific customer and take a look at the contracts that we have that are in play or previous contracts that we put together here.
I’ve jumped into a customer called hopin and I’ve seen all their contracts in one, but it’s kind of a messy screen for me. So why don’t I go and filter it further and let’s maybe filter it down based off of those that are at the account level and those that are at the opportunity level. So I’ve broken that out. Now the contract repository is for all contracts that you’re working on, not just the ones that were generated by Deal Hub, which is what the playbook did. It helped us build out the contract, but now we can add in other contracts so that SLA, that was done separately or maybe an NDA was signed through a different mechanism. We want to bring that into it. So being that it’s going to take care of all the different contracts, we want the ability to upload additional contracts and we’ll be able to pull ’em in from as we’re working through contract revisions or maybe through the deal box that we talked about.
But let’s pull it in and I’ll just go grab it from a file manager, bring in a document, it’s going to load it up into the system. There may be some changes that I want to make, what’s the type of contract or maybe I want to immediately assign it to somebody else on the team. So let’s give it over to Carlos, maybe drop a little note and maybe even tag it as well. So it’s going to help me if I want to go do a search for it later on, we’ll talk about AI in a second. But just to do a search, I might want to search for all the contracts of a certain type and basically that’ll upload that contract into the repository over here. Other things I want to do as a legal person, well maybe I just want to go view that contract.
So let’s go open up the document and I can take a view of that document, but maybe I want to get a bit more detail on it. So let’s go open up the detailed information and it’s gone and grabbed some general information when the contract was created or these are all configurable things that you can do, some notes that were put on it. So maybe I’ve made some changes to the contract and want to drop some notes in about it quickly, what tags did we put on that? But let’s take a look at the AI insights that are going to be made available. So it’s going to have some things that it’ll naturally go and pick out. So what’s the start date, what jurisdiction are we in, what was the agreement term and things like that or create your own custom insight so you able to have that already generated by ai.
Now just as a whole total, this contract repository is going to be available at the end of the year and then the following quarter into 2025, we’ll have the AI insights. This is all stuff that’s in the works right now and just a few months away and we’re going to have that all available. But one of the things that we can actually do today, today we do it through the deal room, but we’re going to bring it into the repository, is to keep track of revisions that we’re working on. So as we’ve gone through a contract, the deal room that I showed earlier, we can actually download a Word document from there rather than a PDF document. And then we can go through usually, typically you’re going to go back and forth through email messages, but that’s what legal likes to use is words. So they’ll do in that process and then we can upload the document back into here and then we’re going to have different versions.
And when I go into a version, I might want to look at different aspects of things. Now, one of the things that we can do in a Word document when we download it is we can lock certain areas of it so they can’t be edited and we can also make certain areas available and right down to the payment terms. So maybe 30 days, 60 day payment terms. So lemme go into one of the revisions. Oh, it doesn’t want to do it from here, hang on, it’s a mockup. So it doesn’t always do everything that I want it to do. That’s fine. Let me come over here and I’m going to go take a look at specific changes that were made. So when we did the redlining, we allowed them to edit a specific area of the contract end date and we can see they’ve changed it to February 28th from December 31st and they changed the payment terms from 30 days to 60 days.
We’ve captured that specific information, so we know that and that’s great, makes it really easy to know what were the key things that were changed, but I might want to also go and compare two versions that I had going out there and it’s going to pull up a version comparison capability. This is actually available today, just not done through this repository yet. And we can actually compare the two versions and once I’m happy with that as a legal, I have a flag that I can set off and say now it’s ready for signature. So until I’ve gone and done my comparisons, I don’t let that get signed off. Once we’re ready to go with that, it can be off. So we actually lock off that e-signature area. It’s not activated. As soon as it’s activated we can let the customer know and they can come in and sign that and immediately it’s ready to go.
So we don’t let anything get signed until we know what we want to be signed over there. One other thing we can do to go back to the preview is when we come with the ai, we want to make it possible. Oops, that’s the one I wanted to click on is we’re going to make it available to go and have the ability to highlight some specific areas that you should look at or concerns. So we’ve got an issue in this area over here that’s in red and they even provide some recommended language that they want to change. So as we continue to evolve the solution, we’re going to go a lot deeper into AI and provide a lot more capabilities. And I’ll mention a bit more on the AI in just a minute as well. So far it looks good,
Anthony Enrico:
Looks great, and I think this is the team. They’re the unsung heroes of protecting the company and helping you get deals moved along. And I think a lot of people will look at their contracts or legal team as the deal blockers, but they really need to make sure. I’ve seen situations where you sign deals you should have never signed and it ends up being a big issue for the company later. And to help give ’em the tools to streamline it I think is really, really important. I love this and I think from my own experience dealing with red lines and going back and forth and knowing version control of each one, it’s a huge mess. It’s pretty much solely done in Microsoft Word in email, it’s completely disorganized and sometimes you have contracts that are 30, 50 pages long that you have to keep track of. So I think given the tools they need to do things well and do things fast, it’s a big gap right now. So I’m really excited for this and it really teases out that entire quote to cash process that you guys play along.
Eyal Orgil:
Absolutely. The unsung heroes is exactly it. They tend not to be thought about, go get your own tool, do your own thing. It’s not part of the same process and here we brought it in so you’re generating the right content that you want if you need it through deal hub or bring in the other contracts, manage it, take a look at it, understand what’s going on. The other part of the ai, go and generate those. Like you said, where are the contracts that are the high value contracts that are at risk or that I signed last quarter and get the AI to go search for those as well. So we had to go and find all those contracts that are at risk and have that summarized for you back into the process over here as well. So great way to go and get that now just jump back up a couple more things.
Obviously if you need to download a document, share it with another team member. We talk about reassigning, look at the deal. We’re right from where you’re at in the contract, archive it, delete it, and of course have access rights to who can do these things. We’re not going to let just anybody do that. But all the things that you’re going to need as a legal person to really keep track of the contracts, keep track of who’s assigned to, what’s the status of it, where does it belong and it’s all stored in one place. Yes, you can still have it stored back in the CRM, that’s fine, but you have that one place you can go and do all that searching. And of course once AI is involved in that, that just makes life so much easier and it’s exactly what you’re looking for today.
Anthony Enrico:
I love it. I love it. I think this really, really teases out the whole platform and solution. Well, I love that you showed up with one more thing to this, so I appreciate that. I was pleasantly surprised and I think that’s going to be big for your customers and then new customers that are going to be onboarding at the end of the year.
Eyal Orgil:
Yeah, absolutely. It’s amazing the number of people you start when you talk to, and we talk about our contract management, we talk about the ways to generate, we always talk about it, but the number of people that always said, well, can we just store it in there? And that they love that. It’s just a missing piece that’s been had and it’s all part of it. We call it sort of all sometimes CPQ, but it’s really part of that process, the generating the quotes, the contracts, storing it, it’s all part of the same process and you have it all in one consolidated place, one platform to manage as an admin, one interface depending on what your access rights are, if you’re a legal, if you’re a manager, if you’re a salesperson, it just simplifies that whole process. Absolutely.
Anthony Enrico:
Well this is why Deal Hub is consistently in the top 50 tools, definitely on the top charts for anything CPQ and I love that you guys continue to innovate. It’s come so far. It was already impressive when I started using Deal Hub back in 2018, but you all have done an incredible job of innovating, adding new features, listening to your customers and just making the experience of buying something a little bit easier. So thank you so much. This was great. I unbelievably thorough Deal Hub is so powerful. I think there’s so many different ways you can use it. Like I said earlier in the demo, I haven’t come across a company yet that is too complex or too unique or too different to where Deal hub can’t handle that situation and I think it’s a great fit. One thing before we break, for people who are listening, when is a good time to say, Hey, we should probably start moving out of spreadsheets and start using something a little bit more sophisticated like deal hub and then what’s the best way to get in touch with you and your team?
Eyal Orgil:
We need another hour on this session to talk about what people need. Well necessarily look, there’s certain things that you’re going to look for. It’s like one is, are you missing the data back in your CRM? If you’ve got a manual process, the data’s not getting in there, you’re missing out on information, you’re not capturing your pipeline’s not accurate. You’ve got salespeople doing their own process. And that happens when you start off. Yeah, just go get a Word document and put together, but at a certain point you’ve grown. You’ve got to keep track of those things. Even the contracts, what do they send out? You talk about salespeople doing their own thing and all that. You can’t have that. You got to start putting controls in. Again, the thing is to do it smartly, give the flexibility, but put the control. So people want to use it, but you definitely need it.
As you start to grow, you have different products and pricing things that change. You have configuration logic that goes around things. So there’s a number of different areas. Sometimes it’s even just the brand. Look, I used to love the sales guys that used to take the logo of the company that I would work at and they’d stretch it. It looks a little better if I just made it wider. Now you went out and spent hundreds of thousands of dollars, some company, design company to put a logo together and the lonely salesperson said, Hey, I don’t like the way it looks. I’m going to design it. And that’s your brand out there. So sometimes it’s as simple as that kind of thing. But typically it’s more around your governance, your guidance that you need around things. That’s where you’re going to want to see that. And then even simplifying it for the salespeople as well as things get more complex, you want to make sure you can get those quotes out in find.
Literally we’ve had customers that tell us they’ve gone from a day spending on a quote or two days bringing it down to 10 minutes. Sometimes it’s the operations team that needs to be involved and they can reduce 80, 90% of the quotes that they have to look at or the legal has to look at. And those are huge, huge savings that you’ll find as well. So it’s always a little bit different based on customers. We’re definitely happy to speak to people and see what that is and have that discussion with them, work together with you to reach us, come out to our website. You can just do a form out there. Deal Hub i.io. You can reach out to me. It’s just my first name. Do last name, EYAL dot or orgi at deal hub io. Check us out through either one, come through us or obviously you’d be happy to and they’re coming through, people are working with you. Reach out and we’ll be happy to jump on a call and tell you what we can do and see if we can solve your problems.
Anthony Enrico:
Amazing, amazing. Well thank you so much again. Y’all appreciate you being here. Love what you’re doing with the platform, love what’s coming next, and as you continue to launch new features, capabilities, we’d love to have you back to show it off to our customers and our audience.
Eyal Orgil:
We’d love to do it. We got lots of things planned coming down the bite.
Anthony Enrico:
Awesome. Thanks EO. We’ll talk soon.
Chief Technology Officer
Streamline approvals with DealHub: simplified processes, real-time visibility, and efficient delegation
Senior Revenue Operations Architect
Eliminate manual entry with DealHub: enhance CRM data, improve efficiency, and streamline sales processes