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A great deal of uncertainty surrounds the recent global COVID-19 pandemic, as millions of organizations around the world are forced to transition their workforce to the confines of their home. How long will current conditions last? Should companies invest assuming the worst is yet to come? How will customers respond and what will be their expectation going forward? How can your organization take the first step toward digital evolution?
The shift toward digitalization
Businesses unable to continue operating have fallen into a slumber, declaring mass layoffs and bankruptcy. Several barely hold on as they struggle to find new ways to reinvent themselves. On the other hand, many businesses are prospering, quickly adapting, and reaching new peaks of market dominance as society becomes increasingly reliant on their solutions.
If there’s one thing we do know, it’s that constraints breed innovation.
On top of that, with the technology infrastructure of individual departments and entire enterprises playing an increasingly critical role, TSIA will hold an additional one-day pre-event on Thursday, October 15, known as TSIA Interact: Technology Summit. This Technology Summit is free to anyone who registers for TSIA Interact and will be hosted by none other than our Distinguished Vice President of Technology Research, John Ragsdale.
In this blog I’m going to highlight the themes and format for this one-day Interact Technology Summit, in addition to some of the research we’ve conducted over the year. TSIA members, and the industry at large, should make time in their calendars to attend this event, as this year’s titans of technology will showcase the latest and greatest in 3 main areas: Revenue Growth, Customer Experience, and Digital Transformation.
The first theme is going to cover tools, challenges, and best practices related to driving revenue growth for sales organizations, both net-new sales and service sales.
Services increasingly are being relied upon to grow corporate revenue as well. According to the 2020 TSIA Professional Services Benchmark, an average of 35% of company revenue comes from services, and 49% of that services revenue comes from professional services. Customer Success organizations are responsible for an average of 20% of total company revenue, according to the 2020 TSIA Customer Success Benchmark.
Technology investments are critical to revenue growth, both in new net sales, services sales, subscription and maintenance renewals, and upsell/cross-sell. During this portion of TSIA Interact: Technology Summit, we will explore several areas:
By the way, if you’re interested in sales or technology, be sure to participate in TSIA’s 2020 SalesTech Survey where we measure adoption and planned spending for the most essential tools. Results will be sent out to respondents in a couple weeks.
Next on the list for Interact’s Technology Summit is TSIA’s bread and butter, Customer Experience. It’s logical, after all, that during disruptive economic environments companies choose to focus on their most valuable asset, their customers.
A total of 79% of support organizations and 76% of customer success teams, have budgeted for customer experience analytics in the next one to two years. Understanding key metrics such as satisfaction, customer effort, and Net Promoter Score can help identify friction points in the customer experience, which can occur across the entire customer lifecycle, and the front, middle, and back office.
In this portion of TSIA Interact: Technology Summit, we will explore technology to help track and improve the customer experience, such as:
The last and final theme for this event is the famous never-ending Digital Transformation. This is a big topic, and it significantly impacts every department in the enterprise, as well as our personal lives.
For this portion of TSIA Interact: Technology Summit, we will focus on specific technologies which are already proven to lower costs and help organizations scale operations, as well as those increasingly being demanded by customers.
No other virtual event will be filled with as many back-to-back technology providers as this one. And there’s a strong likelihood this year that your technology will be the sole deciding factor of whether your business will sink or swim. If implemented wisely with expert guidance, your company’s technology stack will be its key competitive advantage. Implemented poorly, you can scale your company into bankruptcy and kiss those LinkedIn recommendations goodbye.
So If you value your time and would like a quick refresher of today’s technological landscape, be sure to click here and visit our registration page right away. This is an event you’re not going to want to miss.
Hope you can make it!
Post Date: October 6, 2020
A free forum to navigate business challenges with your peers
Omar Fdawi is a senior research associate for TSIA, focusing primarily on enterprise technology. Although having spent over half his career in sales and sales operations, he also has background in data analysis, process improvement, and financial reporting. His previous experience includes working in software, banking, mass media, and food manufacturing industries. He has a passion for automating business processes and helping companies become more profitable.
The Technology & Services Industry Association (TSIA) is dedicated to helping technology and services organizations large and small grow and advance in the technology industry. Find out how you can achieve success, too. Call us at (858) 674-5491 or we can call you.