Stopping revenue leakage requires a systematic solution
What they find is they simply can’t achieve all the necessary steps
AND make it an automated, scalable effort because it requires you to...
Then, apply what you’ve learned across your portfolio to impact EVERY revenue event NOW as well as the customer lifetime value.
This constantly refreshed view of the current state also must be delivered in meaningful context for the sales, billing or services person responsible for driving and maintaining revenue. Otherwise, the pattern of revenue leakage continues with every bad renegotiation, weak renewal, billing inaccuracy, and over-servicing.
Still thinking your organization can cobble together a “workaround” solution that will deliver a systematic commercial relationship view?
Many companies have tried and failed…
Standardized and automated document workflow applications
These tools work fine for simple, templated transactional agreements. But their capabilities break down with any negotiation or third-party paper, and they don’t account for prior agreements that may still be in effect. These automated systems take a document-centric vs. relationship-centric approach, requiring your sales and finance teams to piece together information from multiple sources.
Spreadsheets and document repositories
Populating spreadsheets or even CRM or document repository systems takes considerable manual effort from many resources with no way to ensure quality or consistency, and the data compiled becomes quickly outdated.
Big data and EDW systems
EDW systems are only as good as the source data, which is not high quality for most companies. They also take technical expertise to deploy and use, making for long implementation timelines and limited front-line impact.
The more you know about revenue leakage,
the faster you can stop it. Read on!