Verbit is the leading AI transcription and captioning solution provider. It specializes in combining the speed and affordability of Automatic Speech Recognition with the accuracy of human transcription to solve a massive problem for organizations.

Verbit delivers real-time solutions that can accommodate professionals, students and audiences with varying needs or disabilities in countless scenarios. With its 35K professional transcribers and the ability to reach 99%+ accuracy levels, Verbit enables organizations to embrace inclusion, enhance their content, and work more efficiently.

Challenges:

Scalability

Up until recently, Verbit targeted mostly enterprise organizations for its video transcription and captioning solutions. Two years ago, the company began rapid growth and needed to streamline its entire sales process. Verbit was looking for a solution that could scale up with its growth and empower more deals at a faster pace. 

Complex Pricing

Verbit offers a variety of solutions – including live captioning, real-time transcription, audio and video captioning and transcription, translation, audio description, and legal transcription – to 3K+ global organizations. This variety led to complexity in pricing, bundles, and subscription management. Verbit required a solution that would empower its Sales and Customer Success teams to easily create accurate quotes despite the complexity.  

Manual Processes

The team at Verbit was generating quotes manually, using Excel-based price books, and sending proposals in Word documents. The process was long, cumbersome, and riddled with errors. The team wanted to move beyond these manual tasks, and looked for a solution to optimize the process and maximize potential. 

The Solution:

Real-time Self-Management

Verbit was seeking a user-friendly, intuitive solution that would be both quick to implement and easy to manage. The teams needed a dynamic, no-code environment in which they could make changes in real-time without relying on external resources and development. 

DealHub’s CPQ solution was implemented within weeks with a 100% adoption rate. Sales professionals at Verbit love DealHub for automating the process – from handling complex pricing to contract and subscription management. DealHub improves win rates by freeing up time previously spent on manual tasks which can now be invested in active selling. 

Customization and Support

With its wide variety of products, services, and industries, Verbit was seeking a highly customizable solution to enable even the most complex quotes, but one that would require no hard-code. They found the perfect combination in DealHub’s CPQ. Unlike legacy no-code solutions, DealHub can be fully customized to fit specific needs. 

In addition, DealHub’s customer-focused implementation and onboarding team partnered with Verbit to strategically build the ideal process, to ensure that what’s right for the company today will continue to hold in the future. 

DealHub’s support shortened time-to-value, and built trust in the process and the ability to make changes when necessary.

Structured Sales

Using Excel spreadsheets and Word Documents to facilitate the sales process created chaos for the Verbit Sales team. With DeaHub, however, they no longer have to memorize pricebooks or chase the latest version of a proposal or contract. Now, sales processes are more structured and more guided. The unified process requires no “individual intervention” by the Sales professionals which may affect the result of the process (e.g. over discounting, needing legal approvals, etc.).

Results:

Time is Money

The implementation of the DealHub CPQ solution was fast, requiring 1.5 months to create the initial structure and another 1.5 months to go live. 

Quote creation would previously take 2-7 days, but with DealHub it now takes just minutes. DealHub’s CPQ solution also shortened time-to-close. Done manually, it took Verbit’s Sales anywhere between 3-6 weeks, with DealHub it takes a few days. 

Complexity Made Simple

Thanks to its ease of use, DealHub shows a 100% adoption rate. Verbit Sales professionals find the guided selling playbooks easy to use, while their leaders can rest easy knowing that DealHub provides pricing solutions to 98% of deals processed. 

The Verbit RevOps team praises DealHub for its flexibility, knowing no deal is too complex for its CPQ. 

The Digital DealRoom Difference

After generating a quote in the CPQ solution, Verbit uses digital DealRooms for its proposals. The DealRoom provides a unique customer experience and some valuable sales intelligence. It functions as a hub for all deal materials, including contacts and agreements, providing transparency and visibility to buyers and sellers. DealRoom provides insight into the activity of various stakeholders, which can be harnessed to better understand buyer behavior and deal dynamics.