WHAT DOES A COMMERCIAL EXECUTIVE DO?
Published: August 1, 2024 - The Commercial Executive delivers responsive services to a broad range of stakeholders, including management, commercial, sales, onboarding teams, customers, and partners, while building trustworthy relationships. This role encompasses maintaining high confidentiality levels for all company and customer data, preparing contracts, collecting necessary documents, and ensuring adherence to SLAs. Additionally, This position's responsibilities involve organizing key meetings, managing data integrity, creating presentations, and addressing potential challenges and customer concerns effectively.
A Review of Professional Skills and Functions for Commercial Executive
1. Commercial Executive Duties
- Notification Monitoring: Daily monitoring of generated notifications/customer inquiries
- Quotation Management: Sending quotations to customers through email & its follow-up
- Coordination: Coordination with Regional Service Managers
- Sales Order Creation: Create customer sales orders in SAP, keep customers proactively informed about delivery dates and delays if any
- Procurement Collaboration: Collaboration with the procurement team to obtain and consolidate the delivery date for missing items
- Material Availability Monitoring: Daily monitoring of material availability and bottlenecks
- Corrective Action: Taking corrective actions
- Product Introduction: Introduce service products to prospective customers by phone or online chat tools
- Market Information Collection: Collect marketing information and customer surveys according to the company's request
- Customer Data Maintenance: Maintain and update prospection customer master data
- Customer Needs Identification: Find customer needs and work closely with RSM to get orders
- Sales Target Achievement: Achieve the sales target of service products required by the company
2. Commercial Executive Details
- Stakeholder Service: Delivering a highly responsive service to all internal and external stakeholders, including Qashio management, commercial, sales, onboarding teams, customers, and partners.
- Relationship Building: Building good relationships and becoming a trustworthy partner for all parties they collaborate with.
- Data Confidentiality: Ensuring all company and customer data are kept at the highest levels of confidentiality.
- Contract Preparation: Preparing and maintaining contracts and documents related to Qashio’s commercial processes.
- Document Collection: Collecting and filing relevant customer documents and ensuring adherence to SLAs and deadlines.
- Data Entry: Inputting data into a database and/or spreadsheet.
- Data Accuracy: Checking to ensure data is clean and accurate.
- Meeting Coordination: Organizing meetings and onboarding/implementation sessions in coordination with relevant teams.
- Issue Identification: Identifying potential challenges as they arise, and highlighting or escalating customer concerns to relevant teams.
- Presentation Creation: Creating presentations and reports.
- Meeting Attendance: Attending briefings and strategic meetings.
- Process Updates: Keeping up to date with all internal processes.
- External Communication: Communicating with external parties, answering customer queries, and proactively suggesting solutions whenever applicable.
3. Commercial Executive Responsibilities
- Commercial Point-of-Contact: Be the primary commercial point-of-contact for the customer’s senior commercial leadership (e.g., customer commercial lead, procurement, sourcing, etc.).
- Relationship Building: Build and sustain trust-based relationships with customer counterparts and internal customers.
- Commercial Leadership: Lead all commercial aspects of the relationship with a customer, including negotiations, escalations, and resolution of other commercial issues.
- Team Building: Build a commercial team that enables the rest of the account to focus on Sales and Delivery.
- Entrepreneurial Spirit: Model an entrepreneurial spirit in supporting the pursuit and closing of opportunities.
- Customer Collaboration: Collaborate with Customers and Sales/Delivery, with a relentless focus on meeting customers’ priorities and DXC’s planned economics.
- Coaching and Mentoring: Coach, mentor, and motivate when no formal relationship exists.
- Financial Management: Help drive the P&L/financials top to bottom – TCV, Revenue, Costs, AOP, and Cash.
- Governance Establishment: Establish governance with the customer to facilitate proactive management of commercial issues.
- Proactive Planning: Anticipates obstacles and overcomes them through proactive planning.
- Balanced Decision-Making: Ensure balanced decision-making between sales, delivery, and commercial interests.
- Productivity and Cost Optimization: Work with Sales, Delivery, and Commercial to create and drive productivity and cost optimization plans.
- Teaming and Engagement: Foster teaming to drive commercial discipline through employee engagement and accountability.
4. Commercial Executive Job Summary
- Commercial Recommendations: Provide informed, commercially led opinions and recommendations on potential new scripted content and investment decisions.
- Feasibility Advising: Advise the department on the feasibility of distribution advances, development funding, and first-look investments.
- Projections and Investment Cases: Prepare projections and investment cases, including the creation of Advance Approval Forms, liaising with the Finance team.
- Deal Memo Administration: Prepare, negotiate, and administer deal memos for new scripted content, and liaise with the Legal team on associated agreements.
- Investment Tracking: Manage and update internal investment trackers, monitoring all advances, extraordinary expenses, and development deals.
- Rights and Clearances Management: Ensure any rights, clearances, holdbacks, and any other related information is correctly captured, liaising with Rights & Royalties.
- Material Delivery Coordination: Liaise with Operations regarding delivery materials, including specific challenges such as fast-turnarounds and local-language versions.
- Production Company Meetings: Attend meetings with production companies, where necessary, to discuss commercial terms relating to new and existing scripted content.
- Commercial Knowledge: Ensure a good working knowledge and understanding of relevant commercial aspects of scripted content, e.g., Equity and WGGB deals, music clearances, UK Terms of Trade, etc.
- Producer Approval Management: Manage the producer approval process, ensuring all records are kept up to date and accurate.
- Budget Compilation: Work with the SVP Content and Commercial Strategy to compile the annual scripted content budget.
- Expertise Provision: Provide and cultivate expertise on the above areas and be a reliable and knowledgeable point of contact, both internally and externally, for all commercial aspects of the department.
- Process Improvement: Strive for excellence by making informed recommendations for improvements in processes for any of the above areas.
5. Commercial Executive Functions
- Estimation Policies Drafting: Draft estimation policies and procedures relevant to the planned strategies and changes to the work process under the supervision of senior team members.
- Technical Proposals Preparation: Prepares technical proposals, contracts, and quotations during bidding based on the methodologies, tools, and systems to comply with tender requirements.
- Estimating Job Tasks Execution: Executes and plans estimating job tasks for daily execution based on the given work package and breakdown structure to comply with tender requirements.
- Project Team Coordination: Coordinates with project team members from engineering, production, and procurement on the vessel when required to develop initial cost estimates based on project specifications and drawings.
- Budget Estimates Liaison: Liaises with customers, subcontractors/vendors to develop preliminary budget estimates and cost estimates, including VOs quotation for total project costing, considering estimated cost and costing variables.
- Cost Benchmarking Research: Conducts cost benchmarking and pricing research by participating in industrial forums and literature to generate competitive cost estimates.
- Pricing Sourcing: Sources pricing from quotations obtained from subcontractors/suppliers and responds appropriately to expedite the generation of cost estimates and quotations.
- Cost Trends Studies: Performs cost trends studies and generates costing databases, identifying potential cost risks in design development to devise guidelines for cost estimates.
- Estimation Case Collation: Collates information for past estimation cases, implements appropriate systems and software for lessons learned on lost bids.
- Commercial Team Supervision: Supervises and develops the account commercial team across multiple locations.
- Commercial Team Objectives: Defines objectives for the commercial team and coaches the team to meet and exceed targets.
- Training Facilitation: Facilitates training on the account to improve commercial and business acumen.
- Risk Assessment: Quickly assesses risk in adverse circumstances and makes timely decisions.