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Wells Fargo

Winner

Company: Wells Fargo & Company San Francisco, CA
Company Description: Wells Fargo & Company (NYSE: WFC) is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance for more than 23 million customers through 6,200 stores, the internet and other distribution channels across North America and elsewhere internationally.
Nomination Category: Organization Awards Categories
Nomination Sub Category: Best Sales Organization

Nomination Title: Wells Fargo

1. Tell the story about what this nominated organization/department achieved in the past year (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:

# How many people are in your organization's entire sales department?

187

# What were your organization's sales during the eligibility period? If this
figure is confidential, simply enter "Confidential" in this space:

$200MM Revenue for this sales team.

# Describe the nominated sales organization's top 3 accomplishments during the
eligibility period (up to 100 words):

• Double-digit top line growth vs. single digit growth by competitors/industry
average. Changed from a profit based compensation plan to revenue based plan
drove increase in both revenue and profitability.
• Maintained financial performance through payment industry change that caused
cannibalization of 1/3 of revenue stream (Check 21). Required sales team to
cover the drop in revenue with replacement of electronic based transactions.
• Wells Fargo established itself as an industry leader measured by independent
industry surveys. Industry wide product line changed significantly from paper
check processing to electronic payments processing (Check 21). 

# List the nominated sales organization's top 3 lessons learned during the
eligibility period (up to 100 words):

• Disciplined Solutions Selling process – Leveraged Sales Executive Council to
develop, implement, monitor/coach and assess the process. Resulting portfolio
has a managed product mix to assure a balanced, profitable and measured revenue
stream
• Appropriate, timely training – assess and deploy training programs based on
prescriptive needs of the sales team
• Goal Alignment with internal business partners – working closely with segment
partners, customize the sales approach for customers based on assessed customer
needs. Of major deals won since 2004, 61% list Relationship selling, Service or
product features as top reasons for selecting Wells Fargo. Only 15% indicate price.

# Briefly describe the qualities that distinguish the nominated sales
organization from other sales organizations in your industry (up to 100 words):

• We are a very process and metrics driven organization
• Activity measures drive sales – 20 in person calls and 10 proposals per month
tracked and reported at the Sales Officer. Year-to-date calling is on-plan and
proposals are at 200% of goal (ask for the business)
• Miller-Heiman Strategic and Consultative selling processed enhanced by the
Opportunity Checklist tool, Deal Review process and measurement/assessment of
deal results using outcome based interviews (external consulting firm).
• Efficiency over competition – higher return on sales by selling solutions
• We host Electronic Payment Conferences for customers and prospects
highlighting education on industry trends and efficiency improvement opportunities

# Provide a brief biography of the leader(s) of the nominated sales organization
(up to 100 words):

José Becquer is responsible for commercial business development and sales of
Treasury Management and Health Benefit services to Wells Fargo’s corporate,
commercial, and business banking customers. He manages a nationwide staff of
500 sales and marketing professionals. 

Becquer joined Wells Fargo as vice president and director of Treasury
Management systems in 1995. He previously served as regional sales manager for
Lotus Development Corporation and sales manager to the financial services
industry at IBM. He holds a Bachelor’s degree in Accounting and Finance from
Augsburg College in Minneapolis, Minnesota.

# Briefly describe your organization's customers, including the industry or
demographics you sell to, the job titles you sell to (if applicable), and the
products and/or services you sell (up to 100 words):

• Core commercial customers with revenue between $20-250MM (RCBO)
• Fortune 500 companies (USCB)
• Pubic entities including all national, state, county, municipal, educational
and recreational entities. 
• Corporate and Private entities with revenues between $2-20MM
• Real Estate development and property management firms
• Other Regional Banking and Credit Union entities that purchase services they
are unable to provide to their customer base because of size, capitalization,
risk or regulatory limitations.

• Job Titles: Treasurer, Assistant Treasurer, Cash Manager, Treasury Operations
Manager, Store Manager, Accounts Receivables Manager, Accounts Payables Manager,
Investments Manager, International Risk Manager

# Briefly describe how your sales department is aligned with your marketing
department (up to 100 words):

The TM Marketing Department reports directly into the Sales Strategy and
Marketing Manager, a direct report to Mr. Becquer. Marketing works closely with
the line sales managers, sales officers and Product Managers to develop
materials and multiple sales channels meeting identified needs of the Sales Team.

Marketing Materials are structured to address Customer Business Objectives,
Needs and Goals
“I need to reduce manual processes.”
“I need to improve cash flow.”
“I need to reduce the risk of fraud and ensure compliance”
“Help me maximize ROI on my financial system.”
“I need support for short and long-term business decision-making.”

2. List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:

See above

3. Provide a brief (up to 100 words) biography about the leader(s) of the nominated organization/department:

See above