- Traction Complete eliminated sales rep conflict
- Implementing account hierarchies automation significantly reduced time spent looking up account information and ownership
Veracode is a global leader in application security and services. Their cloud-based platform reduces risk across software infrastructures and allows businesses to innovate new applications. Veracode’s sales team of nearly 150 people, provides professional solutions to their hundreds of customers which includes one-third of Fortune 100 companies. In 2017, Veracode was the highest rated web application security vendor by solution providers.
Verracode strives to establish intricate multi-channel sales teams. The sales department is divided between inside and outside groups, each with their respective account management teams.
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In addition, Veracode operates a variety of partner channels, connecting their sales reps to their partners all over the world. Sales reps at Veracode deal with three types of accounts: customer, prospect and partner. These accounts are part of tens of thousands of subsidiaries within large multilevel enterprises.
The challenge was understanding how accounts related to one another. Veracode was using the native Salesforce parent account relationships which were extremely cumbersome to manage. Hierarchies had to be manually built and updated when sales managers reached out to sales operations requesting a merge of accounts. The process took weeks for an update or worse, there was no change at all.
SALES JUST COULD NOT TRUST WHAT WAS REAL WHEN IT CAME TO THEIR ACCOUNTS.
Due to the tedious nature of building account relationships, there was reluctance internally to take ownership of the hierarchy data. This resulting Veracode’s sales reps never having a true and full understanding of their key accounts.
In addition, the lack of clarity in account relationships resulting in conflicts among the sales reps.
Veracode leveraged Traction Hierarchies with Dun & Bradstreet data to automatically build and maintain their account hierarchies in Salesforce, keeping them up-to-date in real time.
The Hierarchies app was launched into production after 2 meetings with internal sales teams and 2 weeks of discovery and testing with the Traction team. This was a huge win for Veracode’s sales team. They were able to significantly reduce the time spent identifying account ownership and looking for contextual information on the account.
“Traditionally, when we had inbound interest, our sales reps had to spend time searching online for the parent of their lead’s company. Now it is all instantly available in Traction Hierarchies.”
Not only did Traction Hierarchies eliminate the in-house conflicts between reps, but it also gave them new and deeper insights on the larger enterprises they were dealing with. Reps are now able to see related objects on the account including leads, contacts, cases and opportunities. Veracode’s sales reps have found significant value in being able to see all open and close won/ lost opportunities within the whole hierarchy in the account view.
THE FINAL WORD
Seeing deals on the account, which reps may not have been aware of, increases their understanding of current relationships. It may be an account they do not personally own but they can see that other reps have been successful in this branch of the family tree. This gives an opportunity for synergy which we have not seen before.– Jim Maddison, Principal Business System Analyst at Veracode