How ComplyAdvantage created a consistent sales process with MEDDICC, and drastically increased deal visibility.
ComplyAdvantage is a global FinCrime scaleup and established risk partner to the world’s financial institutions & emerging fintechs. They tackle financial crime and remove the friction of complying with financial regulations.
They use MEDDICC as their sales methodology (Metrics, Economic Buyer, Decision Process, Decision Criteria, Identify Pain, Champion, and Competition). Their objective is to improve qualification to deliver higher win rates, shorter sales cycles, larger deal sizes, and higher retention rates.
Qualification was the key area ComplyAdvantage needed to address, as late-stage deals often missed clarity around the needs and challenges.
Before Recapped, they were spending precious time during the Sales weeklies in uncovering the key motivations around the deals' late-stage movement.
The data was in multiple areas
Salesforce, Google Sheets, Google Docs, notepads, etc. Additionally, the perspective was one-sided. It was from the rep -- they couldn’t corroborate it with the prospect.
The Decision Process
The ComplyAdvantage team was frustrated with their existing process. One key trigger that made them look for something better was the arrival of their new Global Head of Sales, Greg Leech. Greg saw that better qualification would improve their productivity, and if they got it right, the subsequent output could be a living breathing case study from each prospect.
If they didn't do something to change their existing process, they would be much less efficient at closing deals and understanding why they were either winning or losing key sales engagements.
ComplyAdvantage was in the market for a solution that had robust security controls, could integrate with Salesforce, and had an intuitive interface. Recapped checked all those boxes. "The Recapped team understands the objective of a MAP -- to close deals -- and that focus is present in the delivery, which is a super simple and intuitive MAP. Simply put, Recapped is building MAPs from a sales perspective," said Jonathan Fianu, Head of Revenue Operations at ComplyAdvantage.
Recapped has a single, linear page layout that naturally extends beyond the direct sales process to other departments like Pre-Sales, Implementation, and Customer Success. ComplyAdvantage could preview as the prospect with hidden sections, enabling them to leverage Recapped as a learning tool between managers and reps.
There were a few apprehensions as they considered several risks before implementing Recapped. In particular, they were concerned about how it would be adopted internally, how it would be perceived by the prospect, and how it would be used across certain sensitive prospect groups. Ultimately, these concerns were alleviated.