/Contract Management

Top 10 Reasons Your Organization Needs Managed Maintenance, Inc.

2019-10-16T10:09:37-05:00Automated Contract Renewal Solutions, Big Data, Contract Management, Customer Success, SaaS Contract Management Solutions, Service Revenue Generation, Service Revenues|

Why Does Your Organization Need Managed Maintenance, Inc.? Here are the top 10 reasons! 1.Improve Data Quality: With the aggregation of install dates, warranty exits and renewals - the ability to mine data and proactively identify ongoing contract opportunities, technology refreshes, refurbishes or decommission opportunities, instantly becomes easier to track 2.Improved Business Analytics: Ability to establish accurate reporting and analytics of the business performance both in terms of sales and the associated financial performance. 3.Accurate Forecasting & Pipeline Development: Enable enterprises to accurately forecast their annuity business and renewal opportunities up to 36 months in advance. 4.Accurately Budget, Staff Technical, & Support Teams: Identify possible cost reductions through the ability to forecast potential service-contract renewals and the necessary personnel to support those contracts 5.Increased Visibility & Channel Performance: The ability to push down to channel partners and track renewal and sales rates against the opportunity data received by channel partners. [...]

Everything Starts With The Blueprint: The Importance of a Blueprint When Architecting an Enterprise-Level IT Solution

2019-10-10T10:06:47-05:00Big Data, Contract Management, SaaS Contract Management Solutions, Service Revenue Generation, Service Revenues|

By George Woods, Senior Director of Program Management Operations Architecting an enterprise-level IT solution is no small task. But the key to a successful implementation doesn’t start with the solution. It starts with the blueprint -- a critical first step that brings the business into conversation with the technology to chart a strategic path forward. Why You Need a Blueprint Like a blueprint for a building, a schematic for a piece of machinery or a map for a road trip, an IT blueprint provides necessary direction for organizations looking to overhaul or enhance their existing IT environments. Ideally, it helps define where you are today and identifies where you hope to arrive in the future. The blueprint is also the first place where IT and business processes meet. In many organizations, technology and business processes are separate conversations. But when it’s done properly, the blueprinting process brings them together to addresses [...]

MMI Harnesses the Power of Open Source for its Oneview Portal

2019-10-10T09:36:10-05:00Big Data, Contract Management, Customer Success, SaaS Contract Management Solutions, Service Revenue Generation, Service Revenues|

Open source technology isn’t a new concept in the IT industry—but a surprising number of businesses have yet to adopt their own internal technology development strategy. Here at MMI, we develop most of our technology (including ONEview, our total asset management solution) based on an open source platform, and we’ve seen a tremendous cost savings and strategic advantage as a result. The difference between developing software on an open source platform and licensing from a vendor is thousands and thousands of dollars. Web-based platforms have definitely propelled acquiring software through vendors into a new phase; beyond the on-site technical resources you save, web-based software is quickly and easily updated by vendors, requiring little to no maintenance on your side of the equation. Unfortunately, there are detractors to consider if you’re buying a ready-made product. Ask yourself some of the following questions before you move forward with a vendor. Is the [...]

3 Reasons to Automate Your Maintenance Renewals

2019-09-20T10:51:09-05:00Automated Contract Renewal Solutions, Big Data, Contract Management, Customer Success|

In today’s market, businesses are looking to do more with less. And although IT hardware and software maintenance still retains much of its profitability, companies are still looking for better, smarter ways to build this crucial annuity pipeline. So how can you more efficiently tackle your renewals, without compromising customer satisfaction or potential revenue? Below are 3 reasons to automate maintenance renewals: 1) Increase revenue and increase customer satisfaction Because automation allows you to touch more of your customers, it is assumed that you will increase your bottom line. However you may be surprised at where those increases will come from. Not all maintenance renewal notifications lead to increased maintenance revenue. Many resellers see increase in net new hardware and software sales due to the notification of machines coming off warranty. Also, end user customers see increased value from resellers who have invested in automation, which leads to increased customer satisfaction. 2) Connecting [...]

Why Most Companies Fail to Meet Their Service Revenue Potential

2019-09-06T13:13:47-05:00Big Data, Contract Management, Customer Success|

The message surrounding the importance of building recurring revenues around service contract management and maintenance has been repeated so often that many have become numb to the opportunity. The reality is most manufacturers, distributors, and resellers understand the importance, but don’t know how to maximize their service revenue potential. The obstacles are most often very formidable. Simple systems (and spreadsheets) do not handle the complexity of service contracts. Getting data right is half the battle and your organization is probably losing this battle. Service and product data are often housed in multiple, disparate systems.  Lacking key integrations features with internal CRMs or ERPs, companies are left without clear visibility of upcoming sales opportunities. The systems many providers use lack critical automation features, such as proactive notifications and alerts, and automated quoting, that would otherwise expedite service delivery lifecycles. Failure to provide downline customers access to critical contract and product data results in [...]

Leveraging KPIs to Maximize Service Revenue Generation Performance

2019-08-28T13:31:02-05:00Contract Management, IT Inventory Management, KPIs, Service Revenue Generation, Service Revenues|

KPIs (Key Performance Indicators) are essential for measuring the success of not only your business, but the overall health and efficiency of your operations and sales processes.  A pitfall we have seen in the Service Revenue Generation industry is that companies tend to be too myopic in what measurements and areas they focus on for their KPIs.  Most Service Revenue Generation organizations mainly focus on Renewal Rate to measure the health of the business.  While renewal rate is a critical KPI, it should not be the only KPI used.  Likewise, digging deeper into how renewal rate is calculated will also shed a good deal of light on the state of your Service Revenue Generation business. It is imperative that organizations with a focus on Service Revenue Generation keep in mind that not all KPIs should be company-wide.  It is just as important to create and measure KPIs for each [...]

Is Your Contract Lifecycle Management Software Allowing You to Address 100% of Service Revenue Opportunity?

2018-07-26T14:41:42-05:00Contract Management, SaaS Contract Management Solutions, Service Revenues|

If so, you are definitely in a class of your own! In fact, data suggests that technology providers are missing out on up to 36% of the service contract revenue available to them.  For many manufacturers and their channel partners, this missed opportunity is the end result of failing to properly implement and utilize contract lifecycle management software to manage and renew upcoming (often low-dollar / high-volume) contract renewals. Fortunately, new best practices are emerging centered around utilizing SaaS contract lifecycle management software for more effective service contract management. What is a “Low-Dollar” Contract? A low-dollar contract is typically a contract with a 1:1 ratio, meaning that it represents just one piece of equipment or service per contract. These types of contracts typically come in high volumes, with total contract values of less than $25k. These contracts must be renewed by the customer in order to continue service protection for assets or products that they already [...]

How VARs Can Leverage Enterprise Asset Management to Become B4B

2018-07-26T14:33:44-05:00B4B, Contract Management, Enterprise Asset Management, SaaS Contract Management Solutions|

In  Reinventing the Customer-Supplier Relationship,authors J.B. Wood, Todd Hewlin, and Thomas Lah describe a fundamental shift in how enterprises do business. Analyzing interviews with more than 300 suppliers, the authors found that increasingly, customers do not want to buy tools: They strive to achieve business outcomes. And they’re willing to share confidential enterprise information if partners can help them achieve game-changing results. Many leading VARs and distributors have already recognized this shift and are working strategically with their customers to address enterprise asset management challenges, such as maximizing asset performance and increasing organizational efficiency and effectiveness. Here is how VARs can take a proactive B4B stance to help their customers drive to best-in-class results. Enterprise Asset Management: a Land-and-Expand Opportunity Managing enterprise assets is a complex, confusing endeavor – even for the teams dedicated to doing so. Asset and part data, warranties, and service agreements are often tracked in Excel [...]

VARs “Lean” on Proactive IT Asset Management to Increase Agility

2018-07-27T17:08:33-05:00Agile, Automated Quoting, Contract Management, IT Inventory Management|

For the past two decades, leading companies have leveraged Agile and Lean methodologies to increase value and reduce waste as they develop IT systems. Now, SaaS companies, VARs and distributors are applying the same principles to their businesses as they strive to achieve better outcomes – for their businesses and their customers. SaaS and Agile: A Perfect Match With their shared focus on customer business value, fast development cycles, and frequent software releases, it’s clear that SaaS platforms and Agile methodologies were made for each other. So it’s no wonder that Managed Maintenance, Inc. (MMI) used Agile methodologies to develop its best-of-breed IT asset management portal, ONEview from the ground up. Embedding Agile methodologies into daily business processes and customer interactions has enabled MMI to stay close to changing market needs, rolling out new product and service offerings that provide companies with competitive advantage, when it discovers new opportunities. Most recently, MMI [...]

Mayhem or Margin? How Resellers and Distributors Can Turn Big Data Chaos into a Game-Changing Opportunity

2018-07-26T14:20:58-05:00Big Data, Contract Management|

Big data is one of the most important issues companies are trying to get their arms around. Every company has a wealth of data at their fingertips, but employees often lack the know how and tools to turn information into intelligence. So what’s at stake? For resellers and distributors, quite simply, it’s the customer relationship. Do they want to be vendors or partners? Hint: There should be only one answer to this question. Resellers and distributors who help their customers gain control of big data mayhem will find that they create the opportunity for significant financial margin, while differentiating themselves from competitors who focus exclusively on the IT sale. And the opportunity is boundless: IDC says the big data market will reach $16.1 billion in 2014 alone, with services accounting for 29% of all sales. So what is big data? It is the unstructured information about company processes, customers, and businesses [...]

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