Avella is a national specialty pharmacy and provider of compound products to hospitals and medical facilities. They work with patients, physicians, and insurance providers to develop and implement safe, effective prescription drug programs, and work with hospitals to streamline fulfillment of compound products while reducing overall costs.
- 85% increase in close rate
- 80% reduced proposal creation time
- 68% proposals approved in less than 48 hours
Over the past two decades, Avella has grown from a small Arizona pharmacy to a national provider of compound products for Hospitals and other medical facilities. Their industry is a competitive one, and their sales reps spend each day on the front lines prospecting, negotiating, and closing deals across the United States. Convincing Hospital executives to make the switch to Avella is a task that requires a sales team equipped with the most advanced sales tools, processes, and collateral in the industry.
Until recently, Avella’s sales team was using Microsoft Word to build proposals, which meant the process was time consuming, frustrating, and error-prone. Sales reps felt that their Word proposals didn’t stand out against competitors, and Stan set about finding a better solution.
Stan Pflueger is Avella’s Sales Operations Director. It’s his responsibility to put Avella’s nationwide sales team in a position to succeed by providing them with cutting edge tools and effective processes.
The integration with PandaDoc has given us full visibility into and allowed us to completely automate our pricing proposal process. As a result our sales team is able to generate industry-leading proposals for our customers and then track the status of those proposals through the entire sales cycle.
PandaDoc was initially identified as a viable solution by the Avella marketing department. After some initial vetting, Stan implemented PandaDoc as a digital document solution supporting Avella’s existing Salesforce CRM deployment. The Avella marketing department built a library of templates and content inside PandaDoc, and Stan set about changing the way Avella’s sales reps create, sign, and win proposals. The result was a completely revamped sales process.
Today, Avella’s reps build their proposals inside Salesforce, with contact and product data automatically transferring from the CRM to the documents they’re creating. Proposal quality is greatly enhanced thanks to interactive product tables, embedded videos, and electronic signatures. The Avella sales team now has proposals that stand apart from what their competitors offer, and are able to leverage analytics and marketing content to close deals faster.
On average, a proposal would take nearly an hour to put together, depending on the number of products. Now it’s down to minutes.
In just a few months, Avella has realized substantial returns on their investment in PandaDoc. Their sales team is closing deals at an industry leading rate of 85%, which is more than double the average sales team’s performance. Stan attributes this largely to the quality of the proposals his reps are sending with PandaDoc. Stan had this to say about the proposals he’s seeing sent out today:
“Not only are we sending proposals out in significantly less time, we’re able to put our manufacturing facility and leadership directly in front of prospects because we can embed video. That’s a game changer.”
That close rate is impressive by itself, but the results don’t stop there. Stan mentions saving time, and the results there equal their impressive close rates. Approvals were a major bottleneck for the sales team’s proposals in the past due to time-consuming review processes and error-prone documents. Since switching to PandaDoc, no proposal has taken longer than 48 hours to review and approve, and 88% of proposals are approved the same day they are submitted for review.
The time savings don’t stop there. Because PandaDoc proposals can be read and signed by any device, the Avella sales team has found that their proposals are now reviewed and signed by prospects faster than ever. More than half of their proposals are signed within two days of being sent, and even their most complex deals close in less than a week on average. When asked how these time savings have impacted sales performance, Stan replied: “Reps are able to manage more opportunities at once, and we’re already seeing measurable growth.”
These results are impressive on their own, but even more so because all of this has been achieved whilst Avella experiences massive growth and organizational change due to recent acquisitions. In just a few months, they’ve managed to achieve unmatched levels of sales success despite dozens of new faces throughout the company, new products being offered to clients, and a nationally distributed sales team tasked with completely relearning how to approach sales proposals. Implementing PandaDoc was a big step for the Avella team, but it’s quickly proven to be a smart choice that is paying dividends.