{"id":62686,"date":"2023-09-01T09:00:00","date_gmt":"2023-09-01T15:00:00","guid":{"rendered":"https:\/\/www.vendavo.com\/?p=62686"},"modified":"2024-02-27T15:00:03","modified_gmt":"2024-02-27T22:00:03","slug":"introduction-to-value-realization","status":"publish","type":"post","link":"https:\/\/www.vendavo.com\/commentary-analysis\/introduction-to-value-realization\/","title":{"rendered":"An Introduction to Value Realization: Your Key to Commercial Excellence"},"content":{"rendered":"\n<p class=\"has-medium-font-size\"><em>Every organization wants to be successful. But how they measure success can vary widely. In this article by Darius Fekete, Director of Value Acceleration at Vendavo, discover Vendavo\u2019s unique approach to measuring value, the benefit sources of commercial excellence, and a formula to quantify and track the benefits realized.<\/em>&nbsp;<\/p>\n\n\n\n<p>Every organization strives for success. Along the path for success, numbers often become the compass guiding important decisions and initiatives. As businesses embark on transformative journeys fueled by technology, the concept of &#8220;value realization&#8221; takes center stage. This principle is especially pertinent when your ambition is to achieve <a href=\"https:\/\/www.vendavo.com\/pricing\/the-4-key-components-of-commercial-excellence\/\">commercial excellence<\/a> with the help of technology. \u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_People_Process_and_Technology_Come_Together_to_Drive_Value\"><\/span>How People, Process, and Technology Come Together to Drive Value&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>At Vendavo, we understand that the true value of our partnership is not solely in the <a href=\"https:\/\/www.vendavo.com\/business-needs\/pricing-technology\/\">pricing technology<\/a> we offer, but in the way our people, process, and technology converge to drive business value. People bring the expertise, creativity, and adaptability necessary to navigate complex business landscapes. While, process ensures that these efforts are streamlined, efficient, and aligned with overarching goals. Finally, technology acts as the enabler, providing tools and insights to fuel the progress. When people, process, and technology are harmonious, that\u2019s when we can unlock true value.\u00a0<\/p>\n\n\n\n<p>In the simplest terms, the Value Acceleration team exists to help our customers understand:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\" start=\"1\">\n<li>What the results are and where they came from&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\" start=\"2\">\n<li>How Vendavo solutions helped drive those results<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\" start=\"3\">\n<li>How to improve the results<\/li>\n<\/ul>\n\n\n\n<p>Our commitment is not just to deliver solutions, but to stand by your side as your partner on your journey to success, illuminating the path to value creation.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"An_Approach_to_Value_Realization\"><\/span>An Approach to Value Realization&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Robust value realization strategies will transform your business, driving tangible and intangible benefits. When you set out on this journey, you need to clearly understand where you&#8217;re going and identify how you&#8217;ll know when you&#8217;ve arrived.&nbsp;<\/p>\n\n\n\n<p>We group business value realization into three core benefit sources for commercial excellence:\u00a0\u00a0<\/p>\n\n\n\n<ol class=\"wp-block-list\" start=\"1\">\n<li>Increasing revenue\/sales\/margin&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"2\">\n<li>Operational excellence&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"3\">\n<li> Improved stakeholder experience&nbsp;&nbsp;<\/li>\n<\/ol>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"273\" src=\"https:\/\/www.vendavo.com\/wp-content\/uploads\/2023\/09\/Icons@4x-1024x273.png\" alt=\"value realization core benefits\" class=\"wp-image-62689\" srcset=\"https:\/\/www.vendavo.com\/wp-content\/uploads\/2023\/09\/Icons@4x-1024x273.png 1024w, https:\/\/www.vendavo.com\/wp-content\/uploads\/2023\/09\/Icons@4x-300x80.png 300w, https:\/\/www.vendavo.com\/wp-content\/uploads\/2023\/09\/Icons@4x-768x205.png 768w, https:\/\/www.vendavo.com\/wp-content\/uploads\/2023\/09\/Icons@4x-1536x409.png 1536w, https:\/\/www.vendavo.com\/wp-content\/uploads\/2023\/09\/Icons@4x-2048x546.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Each source holds its weight and contributes significantly to the overall value realized.&nbsp;<\/p>\n\n\n\n<p>Increasing revenue\/sales\/margin is a direct and quantifiable benefit. It&#8217;s the clearest indicator of business growth through improved price setting and increased deal quantities. On the other hand, operational excellence is about running a tight ship \u2013 making your processes as efficient and effective as possible with increased productivity and more accurate costs. Finally, there&#8217;s improved stakeholder experience, a less tangible yet equally vital benefit. Profit margins might not directly reflect the latter. Still, it strengthens the relationship with your customers and builds better employee adoption of your transformation efforts, which is a cornerstone of sustainable success in the long run.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Measuring_the_Benefit_Sources_of_Commercial_Excellence\"><\/span>Measuring the Benefit Sources of Commercial Excellence&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>How do we measure these benefits? We gauge these benefits using a &#8220;value-meter&#8221; formula considering managerial KPIs: <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"272\" src=\"https:\/\/www.vendavo.com\/wp-content\/uploads\/2023\/09\/Formula@4x-1-1024x272.png\" alt=\"A graphic representation of the value-meter formula considering managerial KPIs\" class=\"wp-image-62693\" srcset=\"https:\/\/www.vendavo.com\/wp-content\/uploads\/2023\/09\/Formula@4x-1-1024x272.png 1024w, https:\/\/www.vendavo.com\/wp-content\/uploads\/2023\/09\/Formula@4x-1-300x80.png 300w, https:\/\/www.vendavo.com\/wp-content\/uploads\/2023\/09\/Formula@4x-1-768x204.png 768w, https:\/\/www.vendavo.com\/wp-content\/uploads\/2023\/09\/Formula@4x-1-1536x408.png 1536w, https:\/\/www.vendavo.com\/wp-content\/uploads\/2023\/09\/Formula@4x-1-2048x545.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>This formula (Revenue X Scope % X Adoption % X Lift %) helps us quantify and track the benefits realized from various initiatives, and it is relevant for all three value realization benefits, even the less tangible ones. Here\u2019s how our measurement formula is broken down:\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenue<\/strong> \u2013 The total income generated by selling goods or services related to the company\u2019s primary operations&nbsp;<\/li>\n\n\n\n<li><strong>Scope %<\/strong> &#8211; The portion of the business where you\u2019ve rolled out the software&nbsp;<\/li>\n\n\n\n<li><strong>Adoption %<\/strong> &#8211; How often you use the software within that defined scope&nbsp;<\/li>\n\n\n\n<li><strong>Lift %<\/strong> &#8211; The increase in performance due to the software&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;When we multiply these elements, we get a measure of the benefits supported by the software.&nbsp;<\/p>\n\n\n\n<p>Remember, the benefits realized are not solely due to new technology or <a href=\"https:\/\/www.vendavo.com\/pricing\/value-of-your-software-investment\/\" target=\"_blank\" rel=\"noreferrer noopener\">software use<\/a>. The truth is that the decisions made with the quartet of people, processes, technology, and data drive value. Each element plays a crucial part and should be considered in conjunction. Software <a href=\"https:\/\/www.vendavo.com\/pricing\/value-acceleration-software-scaling-efficiency\/\" target=\"_blank\" rel=\"noreferrer noopener\">perfectly aligned with your company&#8217;s strategy<\/a>, embraced by your team, and supported by well-defined processes can drive substantial growth.&nbsp;<\/p>\n\n\n\n<p>Soon, I will <a href=\"https:\/\/www.vendavo.com\/pricing\/improve-stakeholder-experience-facilitate-adoption\/\" target=\"_blank\" rel=\"noreferrer noopener\">delve deeper<\/a> into each source of benefits, explore how our business decisions influence those, and explain how to measure their impact effectively. Stay tuned, and together, let&#8217;s unlock the true potential of value realization in your business.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Every organization wants to be successful. But how they measure success can vary widely. In this article, by Darius Fekete, Director of Value Acceleration at Vendavo, discover Vendavo\u2019s unique approach to measuring value, the benefit sources of commercial excellence, and a formula to quantify and track the benefits realized.\u00a0<\/p>\n","protected":false},"author":24,"featured_media":62687,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[1359],"tags":[1515],"class_list":["post-62686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commentary-analysis","tag-commercial-excellence"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>An Introduction to Value Realization | Vendavo<\/title>\n<meta name=\"description\" content=\"Explore the concept of value realization and how this principle is pertinent when your ambition is to achieve commercial excellence with the help of technology.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vendavo.com\/commentary-analysis\/introduction-to-value-realization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"An Introduction to Value Realization: Your Key to Commercial Excellence\" \/>\n<meta property=\"og:description\" content=\"What is value realization? 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