Insite Software, a leading provider of business-to-business (B2B) commerce and data-driven solutions for manufacturers and distributors, today announced it has acquired mobile sales enablement and digital content delivery platform provider Storyworks1.
The Storyworks1 acquisition bolsters Insite Software’s connected commerce platform strategy, helping customers increase revenues by supporting digitally enabled B2B sales engagements. Insite/Storyworks1 enables next-generation buyer/seller experiences, helping B2B companies better meet specific buyer needs and provide strategic direction on product requirements—all while leveraging existing technology investments.
“The combination of Insite Software and Storyworks1 will enable our customers to leverage both commerce and content/data to help drive both online and offline sales,” said Tony Abena, chief executive officer (CEO) of Insite Software. “By connecting data in core business systems—ERP and CRM—sellers can use the most effective and efficient sales channels to sell the right products to the right customers at the right time. We call this connected commerce.”
“At the same time, existing customers often provide the greatest potential for growth for many businesses, with account-based sales forces best positioned to capture these revenues. Yet most sales enablement tools are designed to help sellers capture only net-new revenue,” continued Abena. “The Storyworks1 platform is unique in that it will help B2B sales teams drive faster, better business outcomes by unlocking the value of content and data across both online, self-service commerce transactions and more complex, offline, representative-based use cases.”
Recently named a “Leader” in B2B eCommerce by industry analyst firm Forrester Research1, Insite Software is a top B2B digital commerce platform provider focused on the specific needs and supporting the complex operations of manufacturers and distributors. The company has experienced more than 50 percent annualized product revenue growth in the past two years, securing customer wins with organizations ranging in size from $350 million to $10 billion in revenue.
Storyworks1 is the digital content delivery platform that connects sales organizations with the tools they need to create powerful customer buying experiences, anywhere. The Storyworks1 platform syncs and updates digital sales content in real-time, enabling sales teams to access the content quickly—whether in the office or in the field—and on any mobile device. The platform also provides sales teams with a greater understanding of sales activity and customer buying cycles via constantly updated, in-depth analytics. Storyworks1’s latest platform release offers enhanced security controls, a highly intuitive and redesigned interface, and the ability to access content while offline, which eliminates dependencies on unpredictable wireless networks and remote mobile coverage.
According to Forrester Research2, “B2B companies that ignore their customers’ emerging digital-first research and buying preferences will lose significant share in the next few years. … B2B companies must create a digitally-enabled B2B selling model that aligns with modern digital-first B2B buyer behavior and drives a superior cross-channel customer experience.”
Connecting Commerce, Content and Online/Offline Sales Channels
The Insite and Storyworks1 combination addresses the new realities of digitally enabled, B2B buyer/seller relationships. With Insite/Storyworks1, B2B sellers in both self-service online and complex offline buying situations can more easily accommodate changing buyer expectations and increase productivity through insights into the best next step for each and every sales cycle.
• Guided selling for proactive, consultative upsell, cross-sell and customer retention—Empowers account-based sales representatives to adopt the role of trusted advisor for both online purchases and offline customer buying activities while focusing efforts on higher-value account opportunities. Key features include: tools to drive additional revenue through relevant recommendations for cross-sells and up-sells; streamlined access to customer sales order history, including order status and buying/browsing activities for both online and offline purchases; a dashboard highlighting key buyer/account information, such as buyer-specific pricing and predictive deal/product scores; and the ability to respond online or offline to requests for quotes (RFQs).
• Improved operational efficiency—Provides easy, mobile access to relevant, timely sales content and sales enablement tools while automating workflows and eliminating error-prone, manually intensive tasks in areas such as order entry and quotation via a sophisticated, rules-driven configure price quote (CPQ) process. Key features include: mobile applications for iOS, Android and Windows for easy, anytime access; integration with Salesforce.com, enabling users to easily locate and update existing Salesforce.com records directly from the Insite application; and integration with InsiteCommerce, allowing users to create quotes, check pricing and product availability, and close orders quickly in the field.
At the same time, buyers will benefit from a seamless, 360-degree buying experience across digital/physical channels, throughout the buying lifecycle.
• Self-service, 24/7 online portal—Enables buyers to view holistic order status and history from all online and offline purchases; request or approve a quote; and access inventory availability, customer-specific pricing and product content such as catalogs, data sheets, training materials and how-to videos.
• Two-way, cross-channel order creation—Gives buyers flexibility to start an order online, for offline completion by the sales representative; alternatively, representatives can initiate a quote online for buyers to finish offline.
“With Storyworks1, we provide our field sales force with the most current, relevant marketing and client data to accelerate the sales process and improve the customer experience,” said Jim Heinze, director of sales, North America, The Toro Company. “Storyworks1 also builds key performance analytics, so we know what’s really effective for our sales force. The tool not only pushes information out to the field—it also provides valuable data back for management to refine and improve both content and process.”
“There’s an evolution underway in B2B sales,” said Storyworks1 CEO Jeff Fritz. “Insite/Storyworks1 gives organizations the next-generation sales enablement and buyer engagement tools they need to win. Insite customers now will be able to arm their field sales representatives with a ‘mobile briefcase’ of current product collateral, a catalog of product content, and data insights about who is browsing or buying online, as well as enable them to access key business systems and process orders while in the field. This increased agility gives busy field sales representatives one streamlined task flow to proactively support the entire customer buying experience—regardless of whether a sale originated online or offline.”