For most Enterprise SaaS companies, recurring revenue from existing customers (renewals and upsells) accounts for 50-70% of total revenue. Understanding this segment of the revenue stream is critical for business continuity, objective planning, and getting ahead of adverse situations such as customer churn.
Customer retention and upsell are also increasingly becoming hot topics. According to our latest 2015 SaaS Metric Report, “SaaS company growth rates are strongly influenced by customer retention and upsell.” For the third year in a row, the survey indicated that the fastest growing SaaS companies have a significantly better record on driving upsell and controlling churn. This comes from better revenue management of existing customers. Typically, forecasting comes into play when determining customer retention and upsell.
How are we doing revenue forecasting today?
When it comes to forecasting of the recurring revenue stream, most companies rely on standard spreadsheets. No doubt spreadsheets are simple and easy to use. But they can be time and labor intensive (especially if you have to go to multiple sources or people for the data), not to mention, error-prone and inaccurate if done incorrectly.
Introducing Revenue Center
Revenue Center provides everything you need to fully understand and analyze the state of your customer renewal, churn, and expansion potential quickly and easily, so you can get better visibility into future revenue. In addition, you can plan your customer success team activities accordingly for the upcoming months and quarters to maximize revenue.
This is Totango’s second major product release since January 2016. Continuing the considerable momentum from last year, Totango has been able to deliver substantial new capabilities to ensure our customers can stay ahead of the competition and do more with their customer success platform.
Empower Your Customer Success Teams
Now more than ever, customer success teams are empowered to do more to accurately forecast renewals, upsell, and churn, all within Totango. Revenue Center will easily help teams recognize upcoming renewals for a selected period. They can even follow up with specific activities and programs to minimize risks within the same system and proactively engage customers to avoid churn. What’s more? Your customer success team can prioritize their accounts by revenue breakdown, status, and health profile.
Revenue Center Benefits:
- Revenue Forecasting and Predictability
- Accurately analyze in real time retention, churn, upsell
- Get visibility into recurring revenue stream
- Save tremendous time and resources in forecasting and planning
- Customer Success Planning and Revenue Attainment
- Better account prioritization for customer success managers
- Plan customer success team activities and programs wisely
- Customer Analytics and Trends on Revenue
- Provide management up-to-date visibility into customer revenue stream
- Perform time-based analysis
- In-depth revenue analysis by account and across segments/entire customer base
Like what you see about Revenue Center? Reach out to request a demo and see what Revenue Center can do for you.