I wrote last year about how interest in pricing management is now expanding from the traditional use cases in industries such as manufacturing and chemicals. In part, this has been helped by technology changes that are allowing vendors to offer the advantages of pricing optimization and management without the “science project” approach, which has previously convinced many that the returns did not justify the disruption and time to value of traditional initiatives. All three parts of a typical...
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Topics:
Revenue Management,
Office of Revenue
Conga is part of our Office of Revenue market coverage and I recently attended the 2023 Conga Connect conference held in Orlando during April of 2023. The conference was the public reveal of a new Conga, with significant announcements in three main areas. First was the overall positioning within a self-designated category of revenue life cycle management. Secondly was the first public revealing of a new Conga platform. And finally, announcements of new partnerships were headlined by a...
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Topics:
Subscription Management,
Revenue Management,
Office of Revenue
I have been involved with customer relationship management for over 15 years, and although that is not as long as the category has been around, it does coincide with an era where companies and commentators are calling into question the application’s effectiveness. To counter this perception, both CRM vendors and complementary third-party “add-ons” have developed new functionality that aims to improve the “R” in CRM, especially as it relates to sales engagement. But much of this additional...
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Topics:
Revenue Management,
Sales Engagement,
Office of Revenue
Configure, price and quote (CPQ) software has been traditionally viewed as a specialist outpost of software, almost exclusively B2B and predominately used in manufacturing or specialty chemicals or other industries where there were large variants of similar products that required careful configuration, pricing and ultimately generating a quote that could be forwarded to a prospective customer for consideration. But in recent years, this has changed, both in the number of vendors offering CPQ...
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Topics:
Revenue Management,
Office of Revenue
The topic of revenue operations has been extensively covered recently, not least by vendors extolling the virtues of their particular offering. But as with much of the software industry, vendors often see the market through the lens of their current product capabilities rather than what is necessarily needed. With the rise of the mixed-revenue model that includes subscription and usage pricing as well as one-time sales, combined with the growth in self-service commerce, the result is more teams...
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Topics:
Revenue Management,
Office of Revenue,
Revenue Performance Management
Much has been written in recent years on the emergence of subscription management as a new revenue model that both vendors and buyers are embracing as the future. The benefits speak to the value of a predictable revenue stream for the vendor, but more importantly, the advantages to the customer who needs a lower initial outlay, predetermined expense over the lifetime of usage and the ability to cancel or suspend on demand.
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Topics:
Subscription Management,
Revenue Management,
Office of Revenue
A year ago, I wrote about how technology could be useful in an inflationary period, correctly anticipating the world we live in now. Responding effectively to changes in costs is always challenging, but even more so because of the choppy and chaotic nature of the current environment. Many organizations have a limited or no ability to raise prices, and are forced to find ways to minimize the impact of rising costs. And while it’s true that some organizations have a degree of pricing power,...
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Topics:
Office of Finance,
Financial Performance Management,
digital finance,
Revenue Management,
profitability management,
Revenue Performance Management
I have written about vendor efforts to use artificial intelligence (AI) and advanced analytics in their applications targeted at sales and revenue teams to improve focus and prioritize activities, both for pipeline management as well as individual opportunities. Since then, vendors have continued to innovate, and there have been more releases showcasing efforts to aid sales and revenue. And with this continuing innovation, we believe that by 2026, two-thirds of revenue leaders will begin...
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Topics:
Revenue Management,
Sales Engagement,
Office of Revenue,
AI and Machine Learning
You would be forgiven for thinking that no one buys anything in person any more given the pages of digital ink spilled over the rise of digital commerce led by the rise and rise of Amazon. However, one quick errand run on a Saturday morning would easily give lie to this, as parking lots are full, not just at grocery stores but for everyday retail as well as big box stores. Likewise, in business-to-business (B2B) commerce, despite the advertised demise, person-to-person sales are still a major...
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Topics:
Digital Commerce,
Subscription Management,
Revenue Management,
Office of Revenue
“Lead to cash” is an often-used term and is a companion to “quote to cash” and “order to cash”. What they all represent is an approach which recognizes that there is a process designed to convert a lead from a qualified interest to an active sale, through quote and contract negotiation, to order or contract, invoice and payment. “Quote to cash” and “order to cash” are subsets of this process, with different starting places, but ultimately end in the same place: with a payment for a delivered...
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Topics:
Revenue Management,
Office of Revenue