- Calculators typically do not include the detail, nuance, and the financial
sophistication required by CFOs and other finance experts. On the other hand, our ROI Assessments are designed to be credible with CFOs and to help them make optimal financial decisions. An FHG designed ROI Assessment is used to create a
customized business case for any sales process, focusing on the complete financial
impact important to finance professionals.
ROI & Financial Modeling
Because CFOs see these as simple sales tools, they are not viewed as financially credible. Online ROI calculators typically do not provide enough information to make an informed financial purchasing decision.
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We discuss this in our Education Series
Typically, when developing these types of ROI Tools, there is an internal Excel “expert” tasked with the project. There are always great intentions, but this “expert” is expected to continue to fulfill daily job obligations and potentially not have the additional capacity to develop an effective ROI tool. The resulting deliverable doesn’t meet the needs of the sales staff for a robust financial ROI Tool that effectively identifies the financial value of their solution(s) that can be used to support their sales efforts. Additional challenges to consider include:
- The in-house effort could take many months, even years, to get to a point where the tool accurately models the financial ROI of the solution.
- The in-house “expert” may lack the necessary skills and expertise to develop an ROI sales model. A combination of in-depth healthcare IT experience, strong financial modeling skills, ability to create an easy-to-use ROI Tool for all sales reps, and extensive experience selling to CFO’s and other finance professionals are necessary to develop an effective ROI sales model.
Working with The FiscalHealth Group
FHG is singularly focused within Healthcare, with over 40 years combined experience doing this type of financial modeling ROI work.
- Healthcare is our primary focus; we have a rare combination of healthcare, finance, and sales expertise
- We are not simply “Excel experts” building ROI models; we are healthcare experts who develop sales tools in the most popular Microsoft Office applications
- We know what CFO’s are looking for; we have created and delivered sales presentations to hundreds of hospital CEOs and CFOs
- Other consultants are expensive; FHG is cost competitive, providing more value at a lower price
No! Our ROI Assessments are designed to be used by healthcare professionals
with only a basic understanding of finance and Excel. Yet, the output will resonate
with CFOs and others with strong finance backgrounds.
FHG partners with our customers to ensure we have full understanding of their organization, their solutions, and the financial value these solutions bring to their customers. No ROI Assessment is the same, each is designed to the specific requirements and needs of our customers.
To create each ROI Assessment, FHG follows a 3-step process:
- Value Proposition Identification: Identify financial benefits generated by your
solutions and prioritize based on what is most likely to resonate with CFOs - Develop ROI Assessment: User-friendly model used to create a customized business case and a professional sales presentation to deliver the results
- Training and Education: Customized training programs for your sales team, including CFO-engagement best practices and “Finance 101” training
We also partner with each of our customers by providing a 2-year Advisory Services program with every engagement. We will continue to support your organization, staff, and others to ensure optimal use of the ROI Assessment Sales Tool. We want you to be successful in your sales process, and will support your efforts using these tools.
To help sales organizations confidently engage CFOs and other economic buyers to:
- Understand the ROI your solutions provide to your customers
- Sell on the ROI of your solutions instead of the price
- Differentiate your solutions from your competition
- Protect your margins – minimize discounts
- Close more deals!
Yes we do! Because we believe training is an essential component to maximizing your success with an ROI Assessment, we provide training with all of our engagements. Training is designed for the particular needs of each of our customers and can be conducted via a series of webinars and/or onsite sessions. Training typically includes a review of the operation of using the ROI Assessment, a “Finance 101” review of basic financial terms and concepts, and a discussion of best practices for using an ROI Assessment during a sales process.
Selling on Financial Value instead of Price
Perhaps the most important tactic is to focus on the unique financial value your product can deliver to your customer. By clearly understanding this financial value, and showing how this value impacts your customer, you can successfully sell on this value. If your sales conversation focuses on price, then your product is viewed similarly to other competing solutions. Consequently, when your customer sees no difference between the solutions, this turns into a pricing discussion. A focus on value protects your margins, a pricing conversation reduces your margins.
Not everyone is comfortable with the financial terminology used by CFOs and other finance professionals. Considered a “foreign language” to many people, and although important in the sales process, not everyone can get comfortable talking in this finance foreign language. Our goal is to provide the Training & Education to become more comfortable with the terminology, but you are not expected to become an immediate finance professional.