What is ‘paper process’ in sales and how can Platformed help?

In the world of sales, efficiency and precision are key. One of the frameworks that has gained prominence for its structured approach to sales qualification is the MEDDPICC sales theory by MEDDICC. Among its various components, the "Paper Process" often stands out as a critical, yet sometimes challenging, aspect to manage.

But what exactly is the 'Paper Process' in MEDDPICC, and how can providers like Platformed assist in streamlining this crucial phase? Let's dive in.

What is the 'Paper Process' in MEDDPICC?

MEDDPICC is an acronym that stands for Metrics, Economic Buyer, Decision Criteria, Decision Process, Paper Process, Identify Pain, Champion, and Competition. Each of these elements represents a critical step in the sales qualification process.

The "Paper Process" specifically refers to the legal and administrative procedures required to finalize a sale. This includes the drafting, reviewing, approving, and signing of necessary documents like contracts, agreements, and purchase orders. It's a vital step that ensures all parties are aligned and legally committed, but it can also be a significant bottleneck if not managed efficiently.

Key elements of the Paper Process

To understand the challenges and solutions for the Paper Process, it's important to recognize its key components:

1. Documentation: This includes contracts, agreements, purchase orders, and any other necessary paperwork

2. Stakeholders: Legal teams, procurement departments, sales representatives, and customers all play crucial roles in this process

3. Production and review steps: The process involves initial drafting, internal reviews and approvals, customer reviews and negotiations, and final signatures

Challenges in the Paper Process

The Paper Process is prone to several challenges that can delay or even derail a sale. Common issues include:

• Delays in document approval: Waiting for multiple stakeholders to review and approve documents can slow down the process
• Miscommunication: Different departments may not be aligned, leading to errors or misunderstandings
• Errors in documentation: Mistakes in the paperwork can require rework, causing further delays

These challenges can prolong the sales cycle, risk losing deals, and lead to customer dissatisfaction.

How providers like Platformed can help streamline the ‘Paper Process’

With some of the common issues outlined above including errors, delays, and miscommunication between departments, automating the ‘paper process’ can save sales teams a lot of pain. Using AI-powered RFP/DDQ platforms, such as Platformed, that sync data from policies, past questionnaires, and existing audit reports to automate responses can end the repetition frustration and ensure teams are working with the latest data available without having to rely on internal subject matter experts.

To see Platformed in action, check out ourcase study with Orbital Witnessand find out how we gave the sales team their time back in less than a day.

“We can now do DDQs in a fifth of the time it took before. Less time spent on admin, and more time spent selling!”

Aisha Tummon, Chief Revenue Officer, Orbital Witness

Benefits of a streamlined Paper Process

The Paper Process is an essential component of the MEDDPICC sales framework, crucial for closing deals and ensuring compliance. However, it can also be a source of delays and frustrations. Implementing these solutions brings several benefits:

• Increased efficiency: By automating and digitizing the process, companies can significantly reduce the time required to complete paperwork
• Improved accuracy: Automation helps minimize human errors, ensuring that all documents are accurate and compliant
• Better collaboration: Digital tools facilitate easier communication and collaboration among stakeholders, ensuring everyone is on the same page

By leveraging the solutions offered by providers like Platformed, sales teams can streamline their Paper Process, improving efficiency, accuracy, and collaboration. This not only shortens sales cycles but also enhances the overall customer experience.

Ready to optimize your Paper Process? Explore how Platformed can help you streamline your sales workflow and close deals faster.