Step 2: Define your needs
How to define your needs and create a roadmap to success
The implementation of any new system requires planning and analysis. Our Revenue Advisory Services can help—by working with you to get started with recurring revenue optimization and create a roadmap to success.
Thanks to cloud computing, much of that transition process is easier than ever, from deployment to customization to maintenance—but you still need to account for each integration and implementation factor. Revenue Advisory Services can be your guide as you:
Develop a strategy. What are your critical revenue objectives? Do you need to drive down churn rate? Could you get more revenue from renewing customers? Are your rate plans providing enough revenue? Which processes should you automate? How can you track ROI? A Revenue Advisor can help quickly determine where your largest potential exists for maximizing customer value and accelerating growth in revenue and profits.
Define system integration. Identify the sources of data and map them to a recurring revenue optimization solution. What are the critical integration points and business processes that need to span systems? What other business systems do you rely on day-to-day? A Revenue Advisor will know all the data requirements to meet your strategy—and they can quickly uncover the integration requirements that apply to your environment.
Improve your workflow. How will a recurring revenue optimization solution provide data to existing CRM workflows? Which metrics are most important for each workflow? How will it impact your customer processes? Our Revenue Advisory Playbooks provide a wealth of best practices.
Define improvement goals and document ROI. How do you calculate payback and justify the ROI of a new system? You need to set your goals, document your current baseline—in terms of both revenue and processes—and then determine how to measure progress. We can arm you with tools that will clearly show what sort of return you can expect, using our Revenue Performance Indicators (RPIs).
Once you've defined your needs, you're ready to implement your recurring revenue optimization solution. Our Revenue Advisory Service can assist in managing that change.
Evaluating multiple vendors? Check out our buyer's guide for tips on managing that process.
