Every business wants a system that ensures revenue will come through the door. A lot of time goes into creating a product or service, not to mention marketing those products and services to the right audience for a profit. Running a business is no easy task and keeping a business relevant takes a lot of essential areas in the company working together to achieve business goals.
It’s easy to see why it’s so important for departments to be able to communicate to achieve success. The whole process of selling, marketing, buying, and billing go hand in hand. If one of those processes is lacking, then your business can suffer. Fortunately, there’s a solution to keeping those processes on track and your business on top.
Looking at RevOps
When it comes to business, revenue operations play a large role. Utilizing RevOps can benefit your company, but first, you need to understand what it is and what it does for you.
Automation plays a key role in RevOps, and this helps bring sales, marketing, finance, and even customer service roles together. The goal of RevOps focuses on three key areas:
- Utilize Customer Data to Find New Revenue Potential
- Price for the Best Conversion
- Reduce Revenue Loss
Why’s it Matter?
RevOps focuses on keeping business finance and sales linked as your business grows. This means closing a gap and stopping issues before they happen. How does it do this? Connecting departments and automating certain processes can make a huge difference in tracking the flow of money and optimizing sales.
When a business lists a product or service to the public, it goes through a revenue lifecycle. That product becomes listed, quoted, and eventually turned into cash once purchased. In past, this process would be managed and split between departments. Unfortunately, as a business grows and things stop flowing the way they should, the tension between finance and sales is far too common. Why is this? Data doesn’t flow between these departments by itself. Teams, AKA people, have to take information from one place and move it to another to keep both departments up-to-date.
It’s easy to see how errors and delays can be made. RevOps’ solution is to take those departments and bring them together.
Instead of splitting processes, there is a focus on one revenue process that’s a high priority, and that is the customer. Taking this lead and automating some processes can make a big difference in helping a business scale seamlessly.
Seeing it Work
In a RevOps team, everyone who is part of the product-to-cash life cycle communicates with each other. Each team plays a critical role in obtaining the company goals, and by making processes automated and flowing between each team, everyone works together.
Automation plays a large role in efficiency with a RevOps team. When converting manual tasks to automation, starting with the easiest functions first helps everyone involved adjust. Eventually, tasks such as direct sales can become automated by converting leads into real opportunities. From there, generated quotes based on data and analysis will be sent to the customer. The rest of the process can be automated from contract to billing making the whole system flow together.
Automation matters so people can focus on the items that count. This frees up time for employees to look at the bigger picture, collaborate, and gain insight. When a company pulls together and breaks down departmental competition and beings to work as a unit, the business has time to grow and gain an audience that will come back time and time again.
So many pieces play a large role in operating a business and getting your product out to the right people. It’s easy to get lost in the smaller tasks and have departments shuffling blame when a goal isn’t met. Fortunately, a mind-shift that allows RevOps to come in and unify the departments can change your company’s failures into a success. With a little time, analysis, and strategic plan, your company can be on the right path to gaining the business and revenue you want.
