When the revenue process is neglected, the results are devastating. The average company is losing 14.9% of its revenue to leaks across the revenue process.
So…what can we do to stop revenue leak?
In this episode, Kyle Coleman, SVP of Marketing at Clari and host of the Run Revenue Show, is here to walk you through the foolproof ways that the most successful businesses are running revenue. Listen in as he shares the power of teamwork and governance in combating revenue leaks, the importance of utilizing meaningful data for managing revenue processes proactively, how to establish a shared metrics glossary for crystal-clear communication, and more. Plus, he dives into optimizing revenue processes by embracing continuous improvement and reviews, and finding the perfect balance between collaboration and governance for a thriving revenue ecosystem.
Here’s what’s inside:
1. Revenue is the most important business process: Kyle mentions when the revenue process is neglected, the results are devastating. The average company is losing 14.9% of its revenue to leaks across the revenue process. When companies are able to find all the different areas of revenue leak that exist in their process and stop those leaks, the results are profound: 24% increase in win rates, 39% increase in revenue capture for committed deals, and 96% forecast accuracy.
2. Don’t be stuck in the past!: Many companies are not running their revenue the right way. They’re stuck in the past and are not making use of the data at their fingertips. You can’t expect your revenue results to change if you stay stagnant. Kyle says you need to make sure you have the right things in place to motivate every different revenue-critical employee to take the right action in the right way at the right time.
3. Collaboration and governance: Kyle says these are the two main components of the revenue process. Collaboration is people working together and determining what you do. Governance is how you do it, the data, and the systems that make it all happen. Take a step back and assess where the breakage lies in your team and provide a shared metrics glossary to ensure that people are defining key metrics the same way.
Check out RunRevenue.Pro for tips, playbooks, and advice for stopping revenue leak and achieving revenue precision.
See how Clari's Revenue Platform can help you win more deals, protect your customer base, and achieve revenue precision—even in a downturn.
→ Clari.com
The Run Revenue Show