Stephen Hurrell's Analyst Perspectives

The Member of the Sales Team that Technology Forgot

Posted by Stephen Hurrell on May 17, 2022 3:00:00 AM

Many – myself included – have written about the growth in technologies designed to aid in business-to-business sales and sales management by serving sales reps, line managers, executives and operations. But one area that has been ill-served is technical presales, or sales engineering. You may ask why this should matter. Aren’t presales engineers all about demonstrations? How could technology – beyond video conferencing – help?

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Topics: sales engagement, Office of Revenue

Why Finance and Legal are Important to Revenue and Sales Operations

Posted by Stephen Hurrell on Feb 25, 2022 3:00:00 AM

There is much vendor activity and customer interest in making better use of data, to improve the sales process in the face of increased pressure to achieve organization revenue goals. As detailed in my Analyst Perspective: The Art and Science of Sales from the “Inside Out," enhanced buyer research as well as the inclusion of more people in the buying process, have made selling harder, evidenced by a general trend of declining quota attainment. There is no denying that better use of data can help in prioritizing and helping to advance the sales process more effectively. But this is not the whole story. Whereas generating interest and qualifying opportunity is a key part of the sales team’s role, all this progress can be undone with a cumbersome and clunky configure, price and quoting (CPQ) and contract life cycle management (CLM) process. Automated and digitized systems that handle these elements aid greatly toward a winning/successful close process and will set the right tenor for a continuing and sustained customer relationship. And although CPQ is often thought of as part of the finance department, as contracts are with legal, both of these processes should be seen as adjuncts of the sales process, and both sales and revenue leadership and operations teams need to align with finance and legal. My colleague Robert Kugel covers the finance perspective in more detail in his Analyst Perspective: Configure, Price and Quote Software Supports Profitability Management.

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Topics: Sales, sales engagement, revenue management, Revenue Performance Management

Xactly Advances Support for Revenue Performance Management

Posted by Stephen Hurrell on Feb 15, 2022 3:00:00 AM

Revenue performance management and the role of revenue operations is moving to the forefront of sales organizations, aligning departments around a single view of the business with shared revenue targets and goals. This facilitates the needs of the sales department as well as customer experience, marketing and renewals. The concept of RevOps does not yet have a widely shared common definition within organizations. Because revenue organizations include workers associated with sales operations, there tends to be a bias that RevOps leans towards sales management with the addition of customer success for retention and marketing.

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Topics: Sales, Customer Experience, Marketing, Sales Performance Management, partner management, sales engagement, revenue management, Revenue Performance 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

The Necessity of Revenue Performance Management

Posted by Stephen Hurrell on Jan 27, 2022 3:00:00 AM

Ventana Research was the first market research firm to focus on the emerging area of sales performance management (SPM), which we define as a coordinated set of sales-related activities, processes and systems that enable organization. Over the past decade, SPM has become more science than art. Properly managing a sales organization requires effective planning, which in turn requires key performance and sales indicators built on a foundation of relevant metrics. But this is changing. As more organizations embrace the subscription business model and engage with additional selling channels over and above direct sales, the concept of the primacy of new sales is transforming to a more holistic view of revenue.

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Topics: Sales, Sales Performance Management, sales engagement, revenue management

AI for Sales: Technology is Ready but Are You?

Posted by Stephen Hurrell on Dec 28, 2021 3:00:00 AM

The internet is a rich source of information and is used by buyers to research new applications and offerings well before ever engaging a vendor and salesperson. Along with massive growth in offerings, this is a major reason why sales teams are facing increasing challenges to successfully sell and attain targets.

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Topics: Sales, AI and Machine Learning, sales engagement, revenue management

Why Revenue Planning Should be Continuous and Year Round

Posted by Stephen Hurrell on Dec 2, 2021 3:00:00 AM

With the emergence of multiple selling channels and the rise of the subscription model, the need for a unified approach to revenue planning and execution should be a priority for every organization. As I have written about in my analyst perspective Revenue Management: The Opportunity for Innovation and Optimization, this need to unify the approach and focus on alignment across all revenue supporting teams in furtherance of an organization’s objectives and targets is of key importance to ensure that teams handle different aspects of a customer’s journey and experience. And, as I will further discuss, this alignment between groups is rarely a happy accident but rather the result of forward-looking, continuous planning.

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Topics: Sales, Customer Experience, Sales Performance Management, AI and Machine Learning, subscription management, sales engagement, revenue management

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

Pricefx Optimizes Pricing for Profits

Posted by Stephen Hurrell on Nov 12, 2021 3:00:00 AM

Traditionally, price management and optimization have been contained to certain industries, such as large-scale manufacturing and chemicals. Those industries involve potentially tens of thousands of stock-keeping units (SKUs) covering a wide variety of products and price points. For many organizations, pricing systems are “cost plus” or “follow the leader,” not typically designed to invoke optimization but rather just move pricing along. Price management is often seen as a complex, arduous task that yields small returns for the effort it dictates, and not a strategic lever.

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Topics: Sales, Sales Performance Management, subscription management, sales engagement, revenue management

Oracle Sales has Priority on Engagement and AI

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

The current pandemic has disrupted many of the traditional sales methods used by field-sales organizations to engage, and sell to, buyers. In an effort to provide help, many vendors have recently announced new features that focus less on the management of sales organizations and more on tools to help salespeople sell. This has been coupled with a renewed interest in using data to help with the science, alongside the art, of selling, as referenced in my AP: The Art and Science of Sales from the “Inside Out". Oracle has called this new emphasis “Responsive Selling,” with an aim to harness data and machine learning (ML) to aid sellers in this new, challenging environment.

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Topics: Sales, Analytics, Data, Product Information Management, Sales Performance Management (SPM), Digital Technology, AI and Machine Learning, sales enablement, sales engagement