Are you tracking the right revenue assurance metrics?
Kiran Mohan, Marketing Assurance
Revenue Assurance systems are great to help us curb revenue leakage, build more predictability in our revenues and deliver great customer experiences. However, all these systems are of less use if we are not tracking the right metrics.
KPIs and metrics should give us the right picture by showing us the mirror and providing the right amount of insights to enable better decision-making.
Below, you’ll find a list of simplified metrics, shown in no particular order of importance. Go ahead and check if your systems are providing the following metrics:
- MRR aligned with the total expected revenue
- Discrepancies in quote and configuration
- Accuracy in quote and actual product pricing
- Orders executed vs completed within SLA
- Subscriptions not cancelled even after contract ending
- Subscriber churn due to delays in order execution
- Alignment of units consumed vs billed
- Subscribers underbilled or not billed
- Contract changes reflecting in the bills
- Unbilled subscribers even after trial period
- Inconsistent discount rules
- Discounts given without approvals
- Delays in invoices sent
- Customers not renewed
- Services provisioned even after contract period
- Active subscribers with long dues
- Active subscribers even after repeated card declines
While the list is long, these metrics should give you a good measure of how controlled your revenue leakage is.
Do get in touch with us to obtain a complete list of metrics and to understand the insights you can unlock by combining the results of two or more.
We will be glad to include and give credit if there’s a metric that you track effectively to reduce the revenue leakage in your systems.
Kiran MohanWe have an analytics tool, why do I need a revenue assurance platform? More or less, that’s what we hear from many conversations we have. I don’t blame them as we are comparing apples vs oranges. The concept of revenue assurance is new to the subscription...
Kiran MohanThe current subscription landscape relies on various technology systems such as CRM, sales force automation, billing systems, financial systems, and payment gateways to manage their operations and drive revenue growth. However, a significant challenge that...
Ravin Checker and team has launched xfactrs - the most awaited decision intelligence platform for subscription businesses. The event took place at the Subscription Insider Show 22. Here is the transcript from Ravin's presentation. .... Drip. Drip. Drip. That is the...