Stephen Hurrell's Analyst Perspectives

Why Your ERP and CRM Won’t Transform Your Business

Posted by Stephen Hurrell on Mar 18, 2022 3:00:00 AM

Digital Transformation. The Subscription Economy. Omni-Channel Selling. Customer Centric. These are all terms used to label trends and events that are changing the way business is being conducted, a change that has accelerated due to recent events. Regardless of the terminology, there is no doubt that the way vendors and buyers are interacting, whether B2C or B2B, is different today for many organizations than it was even five years ago. But to be fair, no technology on its own can transform your business without changes to the other two key elements: people and processes. In addition, change is unlikely to happen if you are also relying on your existing ERP or CRM systems.

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Topics: Sales, Digital Commerce, subscription management, partner management, revenue management

The 2022 Market Agenda for Office of Revenue: New Performance Priority

Posted by Stephen Hurrell on Feb 8, 2022 3:00:00 AM

Ventana Research recently announced its 2022 Market Agenda for the Office of Revenue, continuing the guidance we have offered for nearly two decades to help organizations realize optimal value from applying technology to improve business outcomes. Chief sales and revenue officers and their associated operations teams are experts in their respective fields but may not have the guidance needed to employ technology effectively. As we look to 2022, we are focusing on the entire selling and buying life cycle and the applications that simplify and improve interactions throughout the customer experience.

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Topics: Sales, Analytics, Internet of Things, Data, Sales Performance Management, Digital Technology, Digital Commerce, Conversational Computing, mobile computing, subscription management, extended reality, intelligent sales, partner management, sales engagement, AI & Machine Learning

Revenue and Commercial Operations: The Difference Matters

Posted by Stephen Hurrell on Nov 18, 2021 3:00:00 AM

The emergence of the Chief Revenue Officer (CRO) has mirrored the adoption of the subscription model and the development of multiple selling and buying channels over and above the traditional direct sales model, referred to as Revenue Management. Supporting the traditional sales team and management was the sales operations team with responsibilities around incentive compensation, territory and quota planning, sales metrics and reporting and sales forecasting as well as sales engagement and enablement tools and applications. Aligned with this functional area under the CRO is another set of roles and functions called revenue operations or RevOps.

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Topics: Sales, Customer Experience, Analytics, Sales Performance Management, Digital Commerce, subscription management, partner management, sales engagement, revenue management

BillingPlatform Bolsters the Rise of Subscription Services

Posted by Stephen Hurrell on Sep 22, 2021 3:00:00 AM

Subscription management and billing services help organizations offer unique benefits and enhance delivery to customers. By making services more personalized, organizations can acquire – and retain – more customers.

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Topics: Sales, Office of Finance, Continuous Planning, business intelligence, embedded analytics, Analytics, Business Planning, Dell Boomi, Product Information Management, Vocalcom and Zeacom, Financial Performance Management, Digital Commerce, Operations & Supply Chain, Enterprise Resource Planning, ERP and Continuous Accounting, natural language processing, revenue and lease accounting, continuous supply chain, subscription management, partner management, Process Mining, Streaming Analytics, AI & Machine Learning

CommerceIQ Earns Office of Sales Digital Innovation Award for 2021

Posted by Stephen Hurrell on Aug 17, 2021 3:00:00 AM

The annual Ventana Research Digital Innovation Awards showcase advances in the productivity and potential of business applications, as well as technology that contributes significantly to the improved processes and performance of an organization. Our goal is to recognize technology and vendors that have introduced noteworthy digital innovations to advance business and IT.

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Topics: Sales, Analytics, Product Information Management, Digital Commerce, AI and Machine Learning

Revenue Performance Management: Leadership and Operations for Optimal Outcomes

Posted by Stephen Hurrell on Jun 14, 2021 3:00:00 AM

As laid out in my recent Analyst Perspective, Revenue Management: The Opportunity for Innovation and Optimization, revenue management is a new way look at generating and managing the top line. It unifies multiple sources: the traditional focus on new customers to existing customers as well as all types of revenue from new, additional channels. This could include customer retention, upsell and cross sell, in addition to other selling channels such as through partners or digital sales channels like e-commerce and subscriptions.

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Topics: Sales, Analytics, Sales Performance Management, Price and Revenue Management, Digital Commerce, AI and Machine Learning, subscription management

Subscription Pricing Changing for Sustained Customer Growth

Posted by Stephen Hurrell on May 20, 2021 3:00:00 AM

Subscription pricing models are no longer new. Many companies have experience with this pricing model even if there has not been complete adoption across their entire product and service offerings. Companies that use this model, or have spent time looking at the approach, understand the approach of a recurring revenue stream based on a repeating flat fee.

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Topics: Performance Management, Sales, Customer Experience, Marketing, Office of Finance, Financial Performance Management, Price and Revenue Management, Digital Commerce, Predictive Planning, subscription management

The Experience of Digital Commerce

Posted by Stephen Hurrell on Apr 9, 2021 3:00:00 AM

Digital commerce affects almost everyone’s lives. It is hard to remember a time when one could not sign on to a website like Amazon, order a product, pay for it and have it delivered to your front door within days, not weeks. Although catalogues have been around for a century or so, the digital-commerce revolution has changed the way we think about shopping for many of our everyday and special occasion products. Extend this to digital services, such as streaming videos or online games, and there is barely a sector that has not been touched by digital commerce. And, for organizations, it is an essential component of their revenue-management efforts that enables the digital transformation and monetization of goods and services.

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Topics: Sales, Customer Experience, Analytics, Business Intelligence, Product Information Management, Price and Revenue Management, Digital Commerce, AI & Machine Learning

Revenue Management: The Opportunity for Innovation and Optimization

Posted by Stephen Hurrell on Mar 15, 2021 3:00:00 AM

With modern enterprises adopting and expanding their digital business with subscription and usage business, organizations need to think beyond the primacy of sales as their source of business success. A sustained customer experience is key, representing an organizational and cultural shift from the traditional emphasis on new sales to an equally important focus on customer retention and upsell/cross-sell opportunities. This mindset is also important to organizations involved in digital commerce where the cost of customer acquisition and narrow margins means retaining customers for repeat purchases, which is vital to a sustainable business.

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Topics: Sales, Customer Experience, Marketing, Analytics, Product Information Management, Sales Performance Management, Financial Performance Management, Price and Revenue Management, Digital Commerce, subscription management

The 2021 Market Agenda for Office of Sales: The Revolution for Revenue

Posted by Stephen Hurrell on Feb 25, 2021 12:30:00 AM

Ventana Research recently announced its 2021 research agenda for the Office of Sales, continuing the guidance we’ve offered for nearly two decades to help organizations realize optimal value from applying technology to improve business outcomes. Chief sales and revenue officers are experts in their respective fields but may not have the guidance needed to employ technology effectively. As we look to 2021, we are focusing on the entire selling and buying journey and the applications that simplify interactions throughout the customer experience.

Read More

Topics: Sales, Analytics, Internet of Things, Data, Sales Performance Management, Digital Technology, Digital Commerce, AI and Machine Learning, mobile computing, subscription management, extended reality, intelligent sales, partner management