Empowering Your Renewal Teams (ServiceSource and IDC Webinar, March 18, 2013)

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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

Published in: Technology
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Empowering Your Renewal Teams (ServiceSource and IDC Webinar, March 18, 2013)

  1. 1. Empowering your renewal sales teams Presented by: Elaina Stergiades, IDC Jim Dunham, ServiceSource March 18, 2014
  2. 2. Today’s Moderator Christiana Rattazzi Sr Manager, Product Marketing ServiceSource
  3. 3. Today’s Presenters Jim Dunham SVP, Product Management ServiceSource Elaina Stergiades Research Manager, Software Support Services Program IDC
  4. 4. 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?
  5. 5. Recurring Revenue Management: Opportunities and Challenges in 2014 Elaina Stergiades Research Manager, Software Support Services Program IDC
  6. 6. Industries in transition The rise of the third platform © IDC Visit us at IDC.com and follow us on Twitter: @IDC 5
  7. 7. IDC’s “four pillars” of industry transformation © IDC Visit us at IDC.com and follow us on Twitter: @IDC 6 Analytics SocialCloud Mobile
  8. 8. 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+
  9. 9. 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
  10. 10. A new road in the IT market © IDC Visit us at IDC.com and follow us on Twitter: @IDC 9
  11. 11. Transitions in other industries © IDC Visit us at IDC.com and follow us on Twitter: @IDC 10
  12. 12. Managing recurring revenue Challenges and opportunities on the third platform © IDC Visit us at IDC.com and follow us on Twitter: @IDC 11
  13. 13. 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
  14. 14. Essential guidance Best practices in managing recurring revenue © IDC Visit us at IDC.com and follow us on Twitter: @IDC 13
  15. 15. 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
  16. 16. 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?
  17. 17. Empowering your renewal sales teams to optimize recurring revenue Jim Dunham SVP, Product Management ServiceSource
  18. 18. 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
  19. 19. Recurring revenue is fundamentally different from new revenue 1 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
  20. 20. Renewal sales team challenges It’s a volume problem It’s a timing problem It’s a data problem 19
  21. 21. Capture more of your perishable revenue ERP CRM Recurring Revenue Gap 20
  22. 22. Capture more of your perishable revenue • Sales execution • Actionable insight • Renewal ready data ERP CRM 21
  23. 23. 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
  24. 24. Demo
  25. 25. Questions?
  26. 26. 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
  27. 27. Thank you!

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