US-20260127528-A1 - APPARATUS AND METHOD FOR RISK MANAGEMENT IN SALES TRANSACTIONS

US20260127528A1US 20260127528 A1US20260127528 A1US 20260127528A1US-20260127528-A1

Abstract

An electronic apparatus is configured to track risk factors of a real-world event. The apparatus has utility to business-to-business sale transactions such that it reduces the likelihood of lost sales opportunities. The apparatus display's a risk visualization area subdivided into distinct segments, each representing a unique type of risk associated with the real-world event. Each segment indicates a risk level based on inputted or received data relating to the event. The electronic apparatus utilizes an Expert System to improve the accuracy of the inputted data. The apparatus is communicable with a server such that: multiple users may access the same data and receive real-time updates on the event and any associated changes in risk; and the apparatus can communicate with third-party nodes, either to retrieve information or for data analysis, which may be carried out via artificial intelligence (AI). The risk-management is effected using the P6™/methodology.

Inventors

Simon TATE

Assignees

Professional 6 Pty Ltd

Dates

Publication Date: 20260507
Application Date: 20251107
Priority Date: 20210505

Claims (18)

1 . An electronic apparatus configured to facilitate management of risks associated with a business-to-business (B2B) sales transaction, the apparatus comprising or communicable with a server having a memory, and a processor configured to execute server instructions, the apparatus configured to, in use: display, on a display region, a risk visualization area subdivided into at least six distinct segments, each distinct segment representing a unique type of risk associated with the sales transaction, and display, in relation to each segment, an indication of a risk level, the risk level being based on inputted or received data relating to the sales transaction; the apparatus further configured to, in response to subsequently inputted or received data, display an updated indication of the risk level in relation to one or more of the segments; and wherein the risks are related to at least the following types of risks according to RMM methodology: P1 (problem); P2 (payback); P3 (pressure point); P4 (politics); P5 (positional); P6 (process).
2 . The apparatus of claim 1 , wherein at least the P6 type of risk is an aggregate of multiple subtypes of process risk, including decision process risk, buying process risk and internal process risk.
3 . The apparatus of claim 1 , wherein the indication of the risk level associated with each distinct segment is provided by a color code, wherein each color corresponds to a predetermined level of risk.
4 . The apparatus of claim 1 , wherein the display region is also configured to display a risk contextualization portion (P0), the risk contextualization portion representing contextual factors potentially impacting one or more of the types of risk, the contextual factors including iPOV, aPOV, and ACP; wherein the risk contextualization portion is provided as an additional, central, segment on the risk visualization area.
5 . The apparatus of claim 1 , wherein the inputted or received data and the subsequently inputted or received data comprises one or more of: instructive data specifying the risk level associated with one or more types of risk; indicative data relating to circumstances surrounding the sales transaction; and empirical data relating to the sales transaction.
6 . The apparatus of claim 4 , wherein the inputted or received data and the subsequently inputted or received data further comprises the contextual factors.
7 . The apparatus of claim 5 , wherein at least one of: the indicative data; and the empirical data, is obtained from an external data node.
8 . The apparatus of claim 1 , wherein the server is configured to process the inputted or received data and the subsequently inputted or received data to determine a risk level in relation to one or more of the segments.
9 . The apparatus of claim 8 , wherein the server is configured to cause an external processing node to perform the processing of the inputted or received data and the subsequently inputted or received data, wherein the processing occurs using artificial intelligence (AI) or another suitable protocol.
10 . The apparatus of claim 1 , wherein the risk management of the sales transaction is effected by a principal user and at least one other authorized user; wherein each of the principal user and the at least one other authorized user may input data relating to the sales transaction.
11 . The apparatus of claim 10 , wherein the apparatus enables the principal user to accept or reject the inputted data from the at least one other authorized user.
12 . The apparatus of claim 10 , wherein the server is configured to cause an external communications node to send messages or alerts to each of the principal user and the at least one other authorized user pertaining to the risk management of the sales transaction.
13 . The apparatus of claim 1 , wherein the apparatus is further configured to display a history of the sales transaction or a part of same, via one or more of: displaying a written summary of the history of the sales transaction; displaying a visualization of the history of the sales transaction; or displaying an animation of the history of the sales transaction.
14 . The apparatus of claim 13 , wherein the server is configured to cause an external transaction history analytics node to generate and display the history of the sales transaction or a part of same.
15 . The apparatus of claim 1 , wherein the apparatus comprises a personal electronic device such as a smartphone, tablet, or laptop.
16 . A method for facilitating management of risks associated with a business-to-business (B2B) sales transaction, using the electronic apparatus of claim 1 , the method comprising: displaying a risk visualization area subdivided into at least six distinct segments, each distinct segment representing a unique type of risk associated with the sales transaction, wherein the risks are related to at least the following types of risks according to RMM methodology: P1 (problem); P2 (payback); P3 (pressure point); P4 (politics); P5 (positional); P6 (process); and displaying, in relation to each segment, an indication of a risk level, the risk level being based on inputted or received data relating to the sales transaction; the method further comprising, in response to subsequently inputted or received data, displaying an updated indication of the risk level in relation to one or more of the segments.
17 . The method of claim 16 , wherein the risk management of the sales transaction is effected by a principal user and at least one other authorized user; wherein each of the principal user and the at least one other authorized user may input data relating to the sales transaction.
18 . The method of claim 17 , wherein each of the principal user and the at least one other authorized user utilize the electronic apparatus configured to facilitate management of risks associated with a business-to-business (B2B) sales transaction, the apparatus comprising or communicable with a server having a memory, and a processor configured to execute server instructions, the apparatus configured to, in use: display, on a display region, a risk visualization area subdivided into at least six distinct segments, each distinct segment representing a unique type of risk associated with the sales transaction, and display, in relation to each segment, an indication of a risk level, the risk level being based on inputted or received data relating to the sales transaction; the apparatus further configured to, in response to subsequently inputted or received data, display an updated indication of the risk level in relation to one or more of the segments; and wherein the risks are related to at least the following types of risks according to RMM methodology: P1 (problem); P2 (payback); P3 (pressure point); P4 (politics); P5 (positional); P6 (process).

Description

CROSS-REFERENCE TO RELATED APPLICATIONS This application is a continuation of U.S. application Ser. No. 18/289,340, filed Nov. 2, 2023, which is the U.S. national phase of PCT Application No. PCT/AU2022/050419, filed May 5, 2022, which claims priority to AU patent application No. 2021901336, filed May 5, 2021, the disclosures of which are incorporated in their entirety by reference herein. TECHNICAL FIELD The present invention relates to the general field of risk management in sales transactions. The present invention has particular application in the field of risk-management of business-to-business sales processes. However, the present invention may also have utility in other fields. BACKGROUND Conventional business-to-business (B2B) sales processes relating to the sale of goods or services generally have a two-part, “end-to-end” structure having, at one end, a “pipeline methodology” and at the other end a “forecasting methodology”. At the broadest level, pipeline methodology aims to identify and estimate the value of future deals or opportunities that have yet to enter the sales process “pipeline”; while forecast methodology aims to put a dollar value on the revenue that pending deals will actually bring in, in a given time period (such as the current quarter). A company's pipeline methodology includes the cadence and metrics that sales people are responsible for; the outcome of which are valid or qualified opportunities that can be progressed through a sales cycle. As an example, a company may dictate that every salesperson must create a pipeline value of 3× their annual quota. If a salesperson's annual quota for the product/services they sell is $1 m, then the pipeline creation expectation would be $3 m. If then, the average historical deal size is $100 k, then that would equate to 30 deals. If there are 10 working weeks in a given sales quarter, then in each week, the expectation would be for 3 deals per week to be qualified into the pipeline (i.e., confirmed as opportunities that the salesperson will follow through on/attempt to close). These metrics and expectations form what is referred to as the ‘Pipeline Methodology’. Every company may have a different methodology, but a pipeline methodology is an important bookend to an overall end-to-end sales process. Once qualified into the pipeline, pending deals are typically referred to as progressing through “Stages”, to indicate how far along they are. For instance, “new” or recently initiated deals may be referred to as Stage 1; while “mature” deals that are close to closing or being finalized may be referred to as e.g., Stage 6 (the exact number of “stages” will differ according to the protocol being used by a company). The opposite bookend of the conventional B2B sales process is called the Forecast Methodology. It is an equally important part of the sales process but focuses on the metrics that construct an actual dollar-value commitment from a sales person (that is to say, an estimate of how much that sales person can be expected to bring in, in the relevant time frame). The forecast methodology is normally designed as a mathematical extrapolation or series of extrapolations. These factor in, among other things, the value of total available opportunity (i.e., deals in the pipeline) that the salesperson has; and of that, how much is early stage versus mature opportunity. Obviously, mature opportunities that are close to closing will be weighted more heavily in the forecast methodology than early-stage opportunities. An example of a “flawed” forecast methodology would be if a sales person is ‘committing’ $1 m of sales in a given quarter but only has $500 k of total available opportunity, and of that $500 k, most is early stage/non mature opportunities. Software programs exist which automate, partially or wholly, the B2B sales process; these are commonly referred to as CRM (customer relationship management) programs. Examples of providers of CRM software include Salesforce, Zendesk, ZOHO, Hubspot, SAP AG, Oracle, and Microsoft. Such CRM programs are based around the conventional “end-to-end” structure. They aim to collect/assess available data and produce predictions as to either the “pipeline” and/or the “forecasting” bookend of the sales process. For instance, one of the popular Salesforce CRM products analyses pending deals to produce a “propensity to buy” score (also referred to as a “CRM score”) for each pending deal, which indicates the likelihood that the deal will successfully close within a deadline specified by the user. The “propensity to buy” score can therefore be thought of as a relative of the “forecasting methodology” aspect of the B2B sales process. However, conventional B2B sales processes (and CRM protocols) have significant drawbacks in that they consider only the “beginning” and “end” of the sale/purchase process, without having regard to the “intermediate” phase, and the factors and circumstances (and variations in these) that affe