The impact of revenue operations and intelligence technology on business growth is undeniable. Companies that use revenue operations technology experience increased forecast accuracy, win rates, revenue growth, and net dollar retention, according to a Forrester Consulting study commissioned by Clari.
Here’s where Forrester found the biggest impact.
The revenue operations tech boom is imminent
The study, released in August 2021, found that adoption of RevOps technology respondents is expected to spike in the next 36 months, rising from 32% to 93% among survey respondents. Half of the respondents in Forrester’s study reported difficulty in predicting revenue due. Contributing factors include the accelerated rate of business change, increased complexity in the buyer journey, the introduction of new revenue models, and the shift to remote work.
These challenges can be overcome with increased visibility into the revenue process across all lines of the business, but that takes implementing a revenue operations framework and a supportive tech stack.
According to Forrester, among revenue operations and intelligence users, 69% report seeing better revenue performance due to things like:
- increased trust in data
- less manual work
- greater accountability across the revenue team
- real-time data to track revenue processes
- improved win/loss rates
In addition, this past year has seen a rise in late-stage funding and IPOs, increasing the need for predictability among revenue operations practitioners.
RO&I technology will take the guesswork out of forecasting
Companies that embrace revenue operations technology are seeing 65% more accurate forecasting.
When trying to predict revenue through a hodgepodge of spreadsheets and BI tools, the data turns stale immediately. Nothing shatters a revenue projection more quickly than outdated data.
With RevOps technology like Clari, revenue teams can predict revenue with increased accuracy, thanks to the automation of data and visibility into the sales cycle. Companies that adopt an RO&I process are three times more likely to forecast with 95%+ accuracy on a monthly basis, according to Forrester’s study.
Improved win rates will fuel hypergrowth
In an ever-growing competitive landscape, every deal counts. Sales leaders need visibility into what’s happening in every opportunity, in real time, in order to spot pipeline risk and focus on deals with the best chance of closing.
Customers use Clari to inspect their in-flight deals so they can identify things like:
- Are we engaged with the economic buyer?
- Who challenges us in the competitive landscape?
- Have we connected with multiple stakeholders in this account?
- How has this deal changed over the past week?
Having a 30,000-foot view of all aspects of the sales funnel at your fingertips allows you to take action to course-correct any potential problems before the competition does.
Want to learn more about the impact RO&I technology is having on revenue operations practitioners? Download the study here.