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 the training to help channel partners emerge stronger and outlast their competitors.
Your renewals business can be a source of recurring revenue and actually grow as companies push off making purchases for new technology. MMI will help your organization leverage seven key initiatives in times of recession.
- Grow your recurring renewals revenue in a time of recession
- Use data analytics to identify new sales opportunities
- Leverage AI to alert your renewals supply chain in a timely manner
- Quote and close more renewals leveraging automation
- Make doing business with your company easier; Be a more responsive organization
- Reduce costs by streamlining and simplifying the entire process of managing IT assets and associated support and maintenance contracts
- Make your internal resources more efficient and productive
- Leverage performance-based staff augmentation around your renewals business
Pro-active companies are integrating some or all of these initiatives right now to ready their organizations for times of recession and leveraging these same eight initiatives to maximize their potential in a time of economic growth. What is your strategy?
About David Boim. For the past 30+ years, Mr. Boim has helped technology companies maximize their valuation in the marketplace by adopting innovative approaches to addressing and resolving complex business challenges. He guides flexible, responsive, flat organizations built for speed.