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Video & Presentation: http://corporate.servicesource.com/LP=276 Recurring revenue is estimated to be a $600 billion market, and it’s no surprise that when implemented correctly, recurring revenue streams can drive profitability and growth. But between the disparate data, timing pressures and competitive risk, successfully managing a renewals business can be tough. In this webinar, ServiceSource and IDC share their insights about what’s at stake and how to ensure a successful recurring revenue strategy. Speakers: Elaina Stergiades – Research Manager, Software Support Services Program, IDC Jim Dunham – SVP Product Management, ServiceSource
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Empowering your renewal sales teams
Presented by:
Elaina Stergiades, IDC
Jim Dunham, ServiceSource
March 18, 2014
Today’s Moderator
Christiana Rattazzi
Sr Manager, Product Marketing
ServiceSource
Today’s Presenters
Jim Dunham
SVP, Product Management
ServiceSource
Elaina Stergiades
Research Manager, Software Support Services Program
IDC
Poll Question
A Making sense of the data to empower my teams to act-on and close renewal business
B Working through the lack of reporting and performance metrics for my teams
C Figuring out how to enhance my existing CRM/ERP investment with renewal capabilities
D We’re launching a subscription or cloud offering and are struggling with infrastructure
E Other
Which challenge do you face most often with your recurring revenue business?
Recurring Revenue Management: Opportunities and Challenges in 2014
Elaina Stergiades
Research Manager, Software Support Services Program
IDC
Industries in transition
The rise of the third platform
© IDC Visit us at IDC.com and follow us on Twitter: @IDC 5
IDC’s “four pillars” of industry
transformation
© IDC Visit us at IDC.com and follow us on Twitter: @IDC 6
Analytics
Social Cloud
Mobile
Moving to the third platform
© IDC Visit us at IDC.com and follow us on Twitter: @IDC 7
ICT
Innovation
1985-2005
ICT
Innovation
2005-
2020+
The rise of recurring revenue
Enterprises are looking for new revenue streams
Expanded delivery models can offer improved customer experience
Consumers and enterprises are demanding new purchasing models across products and industries
Pricing and packaging flexibility increasingly important
Very attractive for investors and Wall Street
© IDC Visit us at IDC.com and follow us on Twitter: @IDC 8
A new road in the IT market
© IDC Visit us at IDC.com and follow us on Twitter: @IDC 9
Transitions in other industries
© IDC Visit us at IDC.com and follow us on Twitter: @IDC 10
Managing recurring revenue
Challenges and opportunities on the third platform
© IDC Visit us at IDC.com and follow us on Twitter: @IDC 11
Recurring revenue:
Opportunities Challenges
Stable and predictable revenue stream
Long-term customer relationships
Access to real-time customer experience data
Ongoing data collection and analysis can help improve customer experience
Customer intimacy can enable upsell/cross-sell
Complexity of recurring revenue model
Improving and expanding customer experience
Volume of data and transactions can increase dramatically
Integrating and analyzing disparate datasets
Hands-on customer management critical
© IDC Visit us at IDC.com and follow us on Twitter: @IDC 12
Essential guidance
Best practices in managing recurring revenue
© IDC Visit us at IDC.com and follow us on Twitter: @IDC 13
What to look for in a recurring revenue
management platform
Comprehensive revenue management solution
Flexible, agile and scalable
Integrated data management capabilities
Advanced features for analytics and metrics
High performance, reliability and disaster recovery
© IDC Visit us at IDC.com and follow us on Twitter: @IDC 14
Poll Question
A We have a custom or tailored system for renewals
B We pull data from CRM, ERP and other systems and manage in Excel
C We’ve modified our CRM to manage renewals
D We auto-renew everything
E Other
How are you managing renewals today?
Empowering your renewal sales teams to optimize recurring revenue
Jim Dunham
SVP, Product Management
ServiceSource
We are the market leader Focused exclusively on recurring revenue for 14 years
Software Hardware Networking Industrials, Healthcare & Life Science
Subscription Revenue
$14.5B Recurring Revenue under management
47 seconds A renewal is closed
LOCATIONS WORLDWIDE:
200+ Engagements worldwide
Recurring revenue is fundamentally different from new revenue
18
New revenue
• Data gathered along the way
• Minimal data needed to close
• Forward facing process
Recurring revenue
• Existing customer data
• High volume
• Data lives in disparate systems
• Perishable – expiration date
• More opportunities to optimize and gain predictability
Renewal sales team challenges
It’s a volume problem
It’s a timing problem
It’s a data problem
19
Capture more of your perishable revenue
ERP CRM
Recurring Revenue Gap
20
Capture more of your perishable revenue
• Sales execution
• Actionable insight
• Renewal ready data
ERP CRM
21
Empowering renewal sales teams
Optimized sales execution
• Right sales play at the right time
• Immediate focus on the next best action
• Task prioritization for more selling & less admin time
Dynamic sales management
• Instantly implement new strategies
• Prescriptively address high-value deals
• Metrics to identify renewal trends and maintain satisfied customers
Combined revenue visibility
• Accurately understand customer installed base
• Coordinate upsell, cross-sell and renewals
• Single, consolidated interface through Salesforce
Demo
Questions?
Poll Question
How well did the material presented in this webinar meet your needs? 1 2 3 4 5 How would you rate the knowledge of the presenters? 1 2 3 4 5 How likely are you to attend another ServiceSource sponsored webinar in the future? 1 2 3 4 5 Which material was of most value to you? - Emerging Trends, presented by Elaina Stergiades - Empowering Renewal Teams, presented by Jim Dunham
Thank you!
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