Red Hat - Driving New Efficiencies in Quote-to-Cash

The technology industry is constantly evolving. Red Hat, an open-source technology software and services company, faces new challenges. As traditional markets and technology become more volatile and uncertainty in the market grows, the company must respond faster than ever before to stay competitive.

Meanwhile, competition intensifies and traditional responses to those changes become less effective. To stay relevant, Red Hat turned to CPQ and CLM, as the key pillars of its digital transformation strategy to bring the Quote-to-Cash process to a new level of efficiency and revenue growth. In particular, Red Hat’s current repository was a mix of unconnected share drives and rudimentary applications for different NDA, Enterprise, and Partner agreements. This introduced several issues, such as the inability and redundancy to search and report from multiple information sources and the lack of monitoring and alerts for major contractual events.

This collaborative, data-led approach to sales and contracting is generating vast improvements for Red Hat, including:

• Improved visibility into contractual obligations and upcoming renewals
• An Increase in the volume of deals executed
• Reduction in non-standard transactions and corresponding
  agreements requiring legal review or escalation
• Reduction in average cycle times, particularly for standard transactions
• Reduction in the number of contract templates to manage
• Reduction in administrative tasks and elimination of manual data entry i.e., amendments and change orders

Red Hat transitioned from a disconnected, silo’d organization into an agile digital company transforming their entire customer experience.