The Importance of Speed in Forecasting

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I think probably the biggest thing that you got out of that is just speed to go help drive like the effectiveness of the frontline. I had already built up trust in a change, add-ins with my CFO, we very quickly aligned on how we should approach these requests. And so if we didn't already have a trust in my ability to think about the full impact of the P&L and what extended payment terms versus one time discounts would mean for this quarter in this year. But because we had that eight and already, we were already sort of working with a level of trust and credibility which helped. We're tracking. I've got a senior finance person who sits down every Monday

We're joined by Jane Graham, Vice President, Customer Success and Renewals at Kronos, to talk more deeply about the relationship between customer success and finance.

Building the relationship early allowed for 'speed' and effectiveness when putting a plan In place during COVID
Tracking key metrics - especially the Revenue and Cash-flow Impacts that will be realized during this situation
This relationship (learning more about the financials) benefits you and the types of conversations you can have with your customers - understanding the situation they might be facing given that this Is a B2B environment
Marketing, especially customer marketing, has been critical to driving value for the customer success team. Example: Learning about how to update pay-codes and packaging marketing material can be used by every CSM
"If you're talking about your customers' problems, ultimately you should be talking about the market problems"
Playbook design needs to be function over form - give your team flexibility to react to the situation
Hot tip: Meet with your procurement team to share procurement plays back and forth - help understand the techniques that may be used In the Enterprise software buying space
Give your customers access to Information that expands beyond your software and ultimately they will start to think of you as a partner

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This podcast is brought to you by Jay Nathan and Jeff Breunsbach of Customer Imperative, where we help B2B SaaS organizations build growth & retention strategies. Learn more at https://customerimperative.com/

Jay Nathan: https://www.linkedin.com/in/jaynathan/
Jeff Breunsbach: https://www.linkedin.com/in/jeffreybreunsbach