/Customer Success

Why Automated Quoting Solutions Are the Secret to Enviable Service Contract Renewal Rates

2019-09-06T13:26:02-05:00Automated Contract Renewal Solutions, Automated Quoting, Customer Success|

Manually managing the IT contract renewal lifecycle comes with an avalanche of consequences. Beyond wasting valuable time and manpower, outdated contract management processes prevent IT organizations from reaching their full revenue potential. Whether you’re an IT manufacturer, distributor or reseller, getting contract renewal information in front of customers is vital to sustaining a healthy annuity stream. But with limited resources at their disposal, renewal teams are forced to prioritize selling to the top 20 percent of customers (who typically provide 80 percent of a business’s annual revenue), neglecting the majority of clients rounding out the rest. For IT organizations serious about growing their bottom line, automated quoting solutions can help lock in additional service revenues that otherwise slip through the cracks. How Automation Reinvigorates the Contract Renewal Processes Successfully closing maintenance and service contracts hinges on your business’s ability to approach customers at the right time, with the right information. [...]

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 [...]

Recession Proof Your Business with Managed Maintenance, Inc. (MMI)

2019-09-06T13:30:25-05:00Customer Success|

By David Boim Business in the channel has been robust the past 5+ years. This business growth has been fueled by new technologies, the emergence of cloud and hybrid cloud, and the explosion of social media and information. 2020 will mark my 40th year in the technology business and I have witnessed incredible change and growth – and weathered economic downtimes. These downtimes often are characterized by a reduction of available capital and credit; companies canceling and/or postponing purchases, fewer investments, roadblocks in the supply chain, and uncertainty. I have mused the behavior of executives who ‘batten down the hatches’ of business. Recessions can also be a time of opportunity for companies that embrace change and are agile/flexible. The keys to companies rising stronger from economic downtimes, i.e. – recessions are the ability to continue to market, control costs – work smarter. And, MMI provides the tools, the processes, and [...]

How Automated Renewal Solutions Can Eliminate Chaos as Sales and Service Teams Merge

2018-09-04T12:27:46-05:00Automated Contract Renewal Solutions, Automated Quoting, Building Annuity Revenues, Customer Success|

Today’s technology companies are caught in a paradigm shift. With businesses competing for the lion’s share of the market, the focus of most IT channel partners is on nurturing high-volume, low-dollar contracts. Relying on a few high-margin deals is no longer enough – renewals are much easier to secure than netting new business and can help businesses grow their bottom line.  Market dynamics and a crowded industry are pushing manufacturers,distributors, and resellers towards an annual recurring revenue (ARR) business model. But adopting an ARR model can be challenging for organizations with internal teams operating in silos. Today, the customer journey is a disjointed process that can leave money on the table. To take advantage of these untapped revenue opportunities, sales and renewals teams need to collaborate with one another to deliver the best customer experience possible.  The need for a unified sales strategy has inspired a movement toward “customer success” – [...]

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