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Automation is Critical for Managing Renewals and Expand Selling Initiatives

Date: December 15, 2014

Author: John Ragsdale
Julia Stegman

Description:
Technology is a key lever for optimizing the renewal of annuities. Various platforms and applications are required to understand customer history, account entitlement, and customer consumption patterns. And new capabilities have emerged to improve productivity with the renewal workflow and increase effectiveness with identifying new revenue opportunities. TSIA has identified eight separate technology categories recommended for automating service sales operations, including core infrastructure technology, productivity tools, and tools to understand and track customer behavior and satisfaction. In this report, TSIA Research defines the recommended technology stack for service revenue generation, as well as listing the top-installed vendors in each technology category. Executives responsible for renewing and expanding service revenue should understand which enabling technology components are already well adopted by technology firms, as well as emerging tools that may provide a boost to operational and financial metrics.

Applicable Disciplines:
Service Revenue Generation

Keywords:
CRM; expand selling; upsell; cross-sell; technology stack; revenue generation

Functional Areas:
Finance;Marketing;Operations;Research;Sales;Service Delivery;Strategy

Markets:
Consumer Technologies;Enterprise IT and Telecommunications;Healthcare and Healthcare IT;Industrial Equipment