/Service Revenue Generation

Tracking Challenges Today – Complex & Fragmented Data

2019-10-16T10:12:59-05:00Automated Contract Renewal Solutions, Big Data, Service Revenue Generation, Service Revenues|

With such huge revenue and customer satisfaction potential on the line, why are the majority of channel partners not tracking warranty and maintenance service contract data and re-engaging existing clients? Some simply do not recognize the opportunity. An individual maintenance renewal worth $3,000 may hardly seem worth pursuing compared to a new-customer hardware sale. If a partner is missing 10 such renewals a month, however, there is now a revenue stream of nearly $400,000 a year being ignored. Moreover, maintenance is not a one-time sale. It is $400,000 in recurring revenue stream that is being neglected. The channel must take a long view of the data to see the real opportunity. Unfortunately, achieving a consolidated view of contract data poses a significant challenge. Most partners recognize the potential in service contracts, but obtaining accurate, streamlined visibility into the maintenance data is simply too difficult. For any channel partner, there are [...]

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 [...]

How to Choose a Maintenance / Service Contract Provider

2019-10-10T10:02:07-05:00Customer Success, SaaS Contract Management Solutions, Service Revenue Generation, Service Revenues|

Imagine your laptop, desktop or printer, to mention a few, develops a problem. In our highly technological age, it is unimaginable to be deprived of our computer equipment for even a few minutes. Sure, the equipment came with a service warranty, but what if it has already expired at the time of the malfunction? This is where a post warranty agreement, an annual maintenance and service contract, becomes essential. This service has been devised to cover such situations. There are numerous vendors that offer this valuable service, including some well known names in the technical support industry, so how do you choose one that serves your interests and company’s needs? Select wisely. Ask others about their experience with their providers and watch out for testimonials by big clients, then choose a company that: Gives prompt and reliable service Covers all computer hardware equipment, printers as well Has a variety of [...]

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 [...]

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 [...]

As IT Revenue Generation Evolves, Outsourcing Your Maintenance Practice May Be the Fast Track to Survival

2018-08-02T11:58:10-05:00Service Revenue Generation, Staff Augmentation|

Despite optimistic IT spending forecasts, IT organizations aren’t immune to turbulence. The rapid commoditization of hardware and software, paired with evolving enterprise technology adoption habits, is taking a toll on profitability. Technology manufacturers faced with shrinking product sales are leaning on their maintenance and support practices to offset the loss. But many are quickly finding that sustaining maintenance revenue with internal resources alone is easier said than done. The Complicated State of IT Revenue Generation Multiple factors have contributed to the diminishing state of tech product revenues. For starters, the profile of the traditional IT buyer is changing. More procurement decisions are being made by line of business managers – not just the IT department. This decentralization of power means each team has a smaller technology budget to pull from, impeding managers’ ability to get approval on big-ticket deployments. At the same time, the industry’s move toward as-a-service subscription models lets [...]

Why Organizations Within the Channel Should Consider Staff Augmentation to Grow Their Maintenance Practice

2018-07-31T16:46:59-05:00Service Revenue Generation, Service Revenues, Staff Augmentation|

Once an IT provider sells a piece of IT equipment, it’s tempting to simply close the door and move on to the next sales opportunity – especially when that product is already under warranty. But warranties expire, which quickly leads to maintenance contracts, which can ultimately lead to profitable relationships with customers. And failure to address and nurture opportunities as they expand ultimately results in hundreds and thousands of dollars in lost revenue.  A successful maintenance practice looks beyond the final point of sale and instead focuses on the lifecycle of the contract and the opportunity to build long-term customer relationships. The challenge most channel organizations face, however, is the lack of resources and expertise to create a successful nurture program. Internal sales teams, for example, may not have the marketing and reporting expertise needed to develop a sustainable growth plan or the technology used to manage service lifecycles may [...]