Building a multi-dimensional, in-depth understanding of B2B customer relationships is imperative for fiscal accountability. Companies are “leaking” as much as 1-5% of EBITDA, losing up to tens of millions of dollars a year because they are unable to reach the right customers at the right time.
These are the top seven areas revenue pipelines are likely to spring a leak:
1. Entitlements or billing reconciliation
2. Renewal management
3. Pricing variables
4. Sales process productivity
5. Service obligations
6. Expansion opportunities
7. Deferred revenue
If this list overwhelms you, don’t fret. Closing even one or two of these gaps will result in major rewards, and Red House helps companies rank, prioritize and implement the ones that will produce the greatest results.
One way to begin tackling your leaks is through artificial intelligence, or AI. With AI cloud-based software, a single source of truth, with outstanding accuracy, is collected. These deep insights can lead to conversations about renewals and contract terms to help with financial planning.
Read the source article on Customer Think.