December 12, 2014
Aberdeen Group released a new report that summarizes a survey of current practices in revenue operations across 164 organizations. Check out the full report for insight into how best-in-class organizations are innovating revenue operations. Below are a few of the many interesting findings I found in the Aberdeen report.
Financial information is lacking
65% of respondents to the survey indicated that a demand for expedited financial information delivery is a top pressure. Near real-time access to financial information is invaluable to maximize revenues and competitiveness. Companies clearly see this area as not a “nice to have”, but rather critical to their competitiveness. Oversight and compliance demands are also key considerations for most companies (not just public companies)—especially those that also have complex... read more
September 29, 2014
Controlling and cutting costs has traditionally been the purview of the finance department and the development of increasingly sophisticated solutions for revenue operations is opening up a host of new opportunities to help the entire organization. This post explores some of the more costly aspects of finance processes as well as how integrating and automating revenue operations can help cut costs while delivering a host of other benefits.
Revenue Operations Costs Drivers
A variety of factors contribute to unnecessarily high revenue operations costs, but they can be mitigated:
- Repetitive data entry tasks
- Errors that require costly rework
- Inflexible processes that are difficult to modify
- Poor insight into data
In the revenue value stream, high costs are often a result of task-intensive order management, manual tracking of units/services sold, manual revenue booking processes, or even outlier items such as incorrect... read more