How RateGain Used Legitt AI to Supercharge Its Sales, Contract Management, and Revenue Tracking Process

Introduction

RateGain, a billion-dollar company in the travel and hospitality industry, offers innovative solutions that optimize pricing, revenue, and distribution strategies. Operating globally with a 200-member sales team spread across multiple countries, RateGain serves clients in over 40 countries. Despite its success, RateGain faced significant challenges with its sales, contract management, and revenue tracking processes due to manual operations and disparate systems. By integrating Legitt AI into its operations, RateGain overcame these challenges, transforming its workflows and achieving remarkable improvements.

The Challenges Faced

  • Lead to Opportunity: Manual process for converting leads into opportunities, with errors and delays.
  • Proposal Preparation: Pricing inconsistencies due to offline Excel sheets and lack of a centralized system.
  • Approval Process: Delayed approvals with no tracking, leading to unauthorized pricing or terms.
  • Customer Communication: Offline negotiations led to missed details and lacked visibility.
  • Contract Creation: Offline contract creation and multiple legal iterations caused delays.
  • Contract Signing: Manual upload of digitally signed contracts to Salesforce, increasing errors.
  • Milestone and Billing Tracking: Missed deadlines and cash flow disruptions due to manual tracking.
  • Revenue Reconciliation: Missed payments and revenue leakage due to lack of automated reconciliation.
  • Contract Renewals: Manual tracking of renewals led to missed renewals and lost revenue.

The Solution

Automated Proposal Generation

Proposals were automatically generated from templates, ensuring accuracy with pricing and approvals. All changes and approvals were tracked with version control.

Contract Creation and Review

Contracts were dynamically generated and clauses automatically added based on deal size and jurisdiction. Pricing deviations triggered approval workflows, and contracts were signed digitally.

Post-Signing Management

Legitt AI managed milestones, tracked revenue, and set up contract renewal alerts. This ensured timely actions, payments, and renewals, reducing revenue leakage.

Results

60-70% Faster Sales Cycles
Automated processes reduced the sales cycle by 60-70%, leading to faster deal closures and improved cash flow.
Accurate Pricing and Standardized Contracts
Proposals and contracts were consistent and compliant with internal policies, eliminating pricing discrepancies.
Improved Compliance and Transparency
The audit trail provided detailed records of all changes, ensuring compliance with legal standards.
Revenue Assurance
Automated revenue tracking and reconciliation prevented revenue leakage, ensuring accurate billing and payments.
Efficient Renewals
Automated renewal tracking ensured timely renewals, avoiding service lapses and maintaining client relationships.
80-90% Reduction in Manual Effort
Manual effort in contract and payment tracking was reduced by 80-90%, allowing teams to focus on strategic tasks.

Conclusion

The implementation of Legitt AI transformed RateGain’s sales, contract management, and revenue tracking operations. By automating key processes, improving accuracy, and enhancing compliance, RateGain increased operational efficiency and revenue through timely renewals and accurate billing.