The aptly named Vartopia is set to shine the spotlight on its next-generation solution to deal registration that combines multiple vendors and even multivendor solutions into a single platform for VARs.
On Thursday, the company announced availability of version 4.0 for its Deal Registration Network, which offers a single interface used to submit, manage and measure deal registrations for all IT vendors connected to the network.
The company admittedly is not new, having formed in late 2010, but its founders have spent the last few years gaining buy-in from leading vendors (e.g., Cisco, VMware and Dell) and resellers in order to deliver critical mass – the more vendor participants, the more VARs, and the more VARs, the more vendors. While it's been in stealth mode, Vartopia’s network has processed more than 175,000 deal registrations worth more than $26.5 billion in total opportunity value.
In addition to deal reg, Vartopia's platform is expected to address MDF and lead-gen programs — two other critical pain points for VARs, said Vartopia CEO Michael Reilly. For now, Vartopia addresses several problems for VARs in registering and managing deals across their vendor portfolio. Among those challenges are:
- Lack of uniformity across vendor systems that have different interfaces and requirements
- Lack of visibility into the approval process
These challenges are disincentives for VAR sales reps to register deals, said Reilly. As proof, he said while most sales managers assume sales reps are inputting seven to 10 deals per month, real data show the number is less than two.
That might not seem like a big deal, but when you consider the discounts that were not realized on deals that closed but were not registered, it can add up to significant revenue. Reilly cited an example of one VAR that, after using Vartopia's analytics, discovered that during the previous year, it had left $200,000 in gross profit on the table by not registering deals for only one of its vendors, which incidentally accounted for only 10 percent of its business.
To illustrate this for other VARs, Vartopia offers a 30-day, risk-free trial wherein it pulls in the data from a VAR's participating vendors so they can run the analytics themselves. They also can set up sales groups with parent-child hierarchies and assign reps to territories to run reports accordingly.