If you’re a student of sales and/or marketing, then you know that you must provide value to your customers. And you must do it in terms of how your customers think about value and not how your company thinks about value. What you think are the greatest features and best use cases are nearly irrelevant. So, when we think about our bread and butter sectors here at M-Files, where our document management solution has significant impact, professional services and specifically, business consulting rises to the top. We sought to answer the question: Why do business consulting companies love information management technology?
And so, to frame the answer in terms of value, it’s important to consider value from the business consultancy’s point of view and not ours. A cool prompt for that angle comes from Bob Apollo at Inflexion Point. He presented at an M-Files Sales Kickoff and I always remember the slide he put up on the screen about how customers think about value.
Solutions like information management technology must answer a few of the following questions for buyers:
- How will this help me to increase revenues?
- How will this help me to reduce expenditure?
- How will this help me to avoid risks?
- How will this help me save time?
- How will this help me achieve my goals?
For business consulting companies we’ve worked with — like advisory firm Horne — the answers are not difficult to ascertain.
How will information management technology help me to increase revenues?
How will information management technology help me to reduce expenditure?
M-Files reduces expenditure at just about every juncture — respond to audits 5x faster, secure cloud storage versus expensive on-premises storage, and reduction in resources needed for information governance, just to name a few.
How will information management technology help me save time?
According to research, 46% of workers say it’s challenging and time-consuming to find needed information. M-Files drastically reduces the time spent searching for documents by providing a 360-degree view of needed information across disparate repositories.
How will information management technology help me to avoid risks?
Consulting companies have data littered in multiple, disconnected systems — ERP, CRM, laptops, network folders. A multi-repository information ecosystem increases risk, as it compounds the challenge of ensuring that information doesn’t leak out or fall into the wrong hands. Information management technology solves this problem.
How will information management technology help me achieve my goals?
Information management helps business consulting companies reach their goals by allowing them to do more with less by reallocating resources to high-value work, like serving customers or developing new products.
There is way more story to tell on just how information management technology impacts business consulting companies and addresses these five questions.