May 30, 2022
RevOps: Time Well Spent
Typically operations teams are the nucleus of any business, each department previously had their own ops teams but now the roles in RevOps ensure that multiple departments are on track. The RevOp is strategist, the gel between marketing, sales and customer success. Yes, sales teams bring in the dollars, day after day, week after week, month after month, but the roles that are played out in RevOps for example are vital to ensure those sales are finalized and all the correct boxes are ticked.
RevOps aligns multiple departments so having the right systems in place is vital to ensure that they are in sync with each other, that collaboration is on point, and communication is open and transparent. They ensure that the economics are healthy right the way through an organization. The tools used in these teams need to reflect all of these purposes.
Working across one solution that is integrated across multiple solutions is a vital part in the roles of operations. For example, it is super important that CRM, Contractbook and finance all talk to each other. Assigning tasks to individuals or teams ensures that everyone knows roles and responsibilities, ownership is defined.
How is time saved?
Adding features or procedures like special terminology within documents can allow other teams such as customer success to know the in and out of a client's requirements ahead of time, ensures that knowledge is shared widely. This means that other departments can plan and prepare for discussions with customers. This can make a huge impact for a customer who will now know that the company they have chosen listens, shares knowledge, and puts them first.
Ensuring that everyone uses the same platforms aligns teams and keeps everyone on the same page with contract versions and processes. Contracts can have the same terminology and the same language used because when these are not followed and adhered to that is where mistakes can be made and can ultimately be the difference between customers feeling confident in your solution or having that confidence dented or destroyed.
For example, one step out of the process, using verbal contact immediately takes people out of the loop, which means that interdepartmental communications are now fractured, error can run riot and that single step sabotages the confidence built. Internally you now have to devote more time to fixing problems and second-guessing potential problems - all expensive and time-consuming.
Automate your way through it
Your tech stack and the departments that use them are the businesses ecosystem. Kind of like a Great Barrier Reef, treat it nicely and with respect or one thing destroyed can have multiple knock-on effects.
Finance can go to generate an invoice feeling confident that the information contained within is accurate, why? Because the information came directly from the contract, which was generated using information from the CRM that has been the place of nurture for the account. Or what about Customer Success has the ability to plan ahead of time by scheduling onboarding hours, or auto-renewal is activated or deactivated depending on the needs of a specific account. All of this is important, and accurate because it came from the contract.
What about post signature?
We always say that the lifecycle of contracts does not end at the signature. Time can be saved here too. When it comes to a renewal or renegotiation, setting up notifications for this is pretty important and making sure that these go to the correct department is a good step. Believe it or not, it is possible to miss year-on-year increases purely because the information was buried.