Mercero

Benefits of Revenue Operations Continued

The things that were once handled in this space are now being handled by technology and automation. Revenue operations and deal desk software are transforming how departments interact on complex deals and contracts, and companies are seeing great success.

Last week we touched on two of the benefits of revenue operations. This week we are going to tackle four more awesome benefits revenue operations can bring to your company. Revenue operations alone is a benefit, but there are multiple ways that companies are thriving as a result of a revenue operations model. That is why we feel it is important to highlight the impact that revenue operations can have for an entire company and their customer base. The first benefit we will highlight this week is connected processes and systems throughout departments in a company.

CONNECTED PROCESSES AND SYSTEMS: Have you worked for a big corporation? Have you been involved in siloed teams and departments? The questions could go on and on when it comes to how companies have generally operated over the years. We have all been in seats in corporations around the country where it is driven home that “this department’s outcomes, matter most”, or whatever the mentality was at said company. It was probably something along those lines and this mindset has created rifts between departments for years. Now with companies shifting more and more to technology and automation this mindset still exists, so it impacts these updated processes. Marketing might use a specific technology or set of technological tools to reach their outcomes, while sales and legal use totally different systems. The siloed teams and departments method has proven to be disjointed, leads to finger pointing, and lacks transparency. Companies wanted their staff to work toward a common overall goal while pressuring their management teams to hit specific departmental goals. Overall, this is not a major issue, but when you begin to dig in you can better understand how it could become an issue. With siloed teams it is almost as if your departments are working against one another. They are so laser focused and have tunnel vision on their outcomes that they have no understanding of what other teams are working on or toward. A major reason for this is that each department has individual tools that are tied back to a tool that the entire company uses. Every department is not trained on every tool, so there is lack of understanding on how other teams are getting to their outcomes, so in a sense it makes that department’s outcomes of least importance to other teams. Revenue operations takes this mindset and turns it on its head. A revenue operations setup allows teams to work together in one unified system with one unified outcome. Deal desk software like Mercero is a major part of the revenue operations shift and helps with getting companies teams on one accord.

TRANSPARENCY AND ACCOUNTABILITY: The benefits being discussed will certainly lead to other benefits as well. Transparency and accountability throughout a company is a by product of working in the same systems and having similar processes across the board. We have talked with companies that are excited about unifying their staff and moving away from some of the toxicity caused by siloed teams and departments. There are stories within every organization where teams refuse to admit to shortcomings or blame missteps on other teams. The ball is dropped time and time again and impacts the experience for both the staff and the customer. In the past with this siloed approach the process could be prolonged by stopgaps between teams. There were always hang ups as contracts and customers moved through the process. Refining and redefining these processes and ridding the process of snags and hang ups is a favorable opportunity cost for companies. Giving time back to your staff and customers and increasing your company’s overall efficiency goes a long way. If teams are working in the same systems, have the same or similar processes, it will only lead to a new energy between departments. Any missteps can be addressed immediately, and the entire company understands what may have created the kink in the hose. Being able to address missteps immediately and move contracts and customers forward through the process quickly will always prove favorable for any company.

INCREASED OVERALL EFFICIENCY: Once again one benefit leads to another, and increased overall efficiency for companies is a product of revenue operations which promotes seamless interactions between departments. These seamless interactions in turn increase a company’s efficiency. Having all your company’s departments working together like a well-oiled machine instantly increases efficiency. Handoffs between departments, approvals from other departments, and much more lead to this increase in efficiency. Having a deal desk software greatly improves all these interactions and that is why Mercero is working to educate companies on the importance of improved efficiency. Customer’s gaining access to your product more quickly is a big benefit to any company. Satisfying customers quickly and efficiently will always impact the bottom line and turn a new customer into a promoter which will lead to great reviews of your company and your customer experience. Which will only increase the revenue that your company is generating.

A SEAMLESS CUSTOMER EXPERIENCE: Lastly, but possibly most important of all these benefits is a seamless customer experience. Every prior benefit impacts this benefit, so it must be of the highest importance. This is the benefit that impacts your company the most. A seamless customer experience is what is the overall focus of every other benefit. Companies want to increase efficiency, work together on tasks, and have unified processes because they want to provide a positive customer experience. When companies are working with the customer at the forefront of their mindset and processes it will only increase the company’s scope and positively impact the bottom line. Happy customers turn into referrals and renewals. Customers appreciate not having to revisit topics, not wasting time, and having an experience that takes the work out of their hands. All in all, these seem like things companies are already doing, but that is not always the case. There are a lot of companies that do some of these things very well, but revenue operations in concert with deal desk software are making it so that companies can be great in all of these areas. Improving the customer experience will always benefit your company positively, so revenue operations is a must for you and your company if you haven’t already looked into shifting your company culture.