How automation and transparency in pricing unleashed new revenue for Morningstar

To meet Morningstar’s goals for streamlined pricing, West Monroe took a phased approach to developing a robust quoting solution with Salesforce CPQ. Starting with a pilot that included high-volume, transactional products, the team established early wins to drive adoption. West Monroe then expanded the implementation to cover global product lines, delivering training and customized solutions at each stage. By clarifying the pricing structure and automating approvals, West Monroe created a framework that Morningstar’s sales team could easily navigate, enabling quicker and more accurate pricing while also boosting upsell visibility.

West Monroe worked with Morningstar for 24 weeks to implement Salesforce CPQ. After early successes from the pilot program, the project expanded globally, with West Monroe guiding iterative builds, system training, and feedback sessions to drive adoption. By integrating pricing logic with automated approvals and add-on suggestions, Morningstar’s sales team could now access dynamic pricing tools while strengthening cross-selling potential. This thorough, collaborative process ensured lasting adoption, positioning Morningstar to capture new revenue and deliver consistent client value.

With a more transparent, automated quoting system, Morningstar achieved remarkable efficiency and revenue growth. More than 90% of pricing requests are now completed in under a day, a significant improvement over the previous process. The system also streamlined workload, saving finance teams 15 hours monthly and cutting five hours per sales opportunity. By embedding upsell triggers into the CPQ platform, Morningstar’s sales team is well-equipped to expand existing client relationships while offering timely, relevant product add-ons. The solution doesn’t just drive efficiency; it empowers Morningstar to generate new revenue and deliver an enhanced customer experience.