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New Capability Helps SaaS Companies Forecast, Visualize, and Influence Renewal and Upsell Revenue to Fuel Growth
SAN MATEO, CA --(Marketwired - March 02, 2016) - Totango, the leading Customer Success platform for Software as a Service (SaaS) companies, today introduced Revenue Center to their service platform. According to Totango, 50-70% of revenue in a subscription business comes from existing customers in the form of renewals and upsells, yet most companies do not have visibility into this revenue stream. Revenue Center changes that by providing unparalleled insights into how existing customers are spending their money on an ongoing basis and how companies can proactively influence lifetime revenue from customers.
"Today SaaS companies don't have a good way to see a complete picture of their revenue stream," said Maksim Ovsyannikov, Totango's Chief Product Officer. "Companies are still using spreadsheets and custom Salesforce objects, often pulling data from different departments, leading to a messy process and general confusion. Not only is it time and labor-intensive, it is also prone to errors. And that's where we saw a need to automate and streamline the process with Revenue Center. Financial management is now a key aspect of customer success responsibilities and it is time that customer success platforms support this critical use case."
Revenue Center provides everything companies need to fully understand and analyze the state of customer renewal, churn, and expansion potential quickly and easily, so they can get better visibility into future revenue. Better visibility means a better way to plan their Customer Success team activities next quarter, thereby maximizing revenue.
With Revenue Center, customer success managers (CSMs) now have the ability and tools to more accurately forecast renewals, upsell and churn, all in Totango. Revenue Center will help them easily see upcoming renewals for a selected period. They can analyze churn and revenue performance based on quarter to date, forecast or goal and filter the dashboard by all or specific accounts or even attributes. CSMs can even follow up with specific activities and programs to minimize risks within the same system and proactively engage customers to avoid churn. Going a step further, it helps CSMs prioritize their accounts by revenue breakdown, status and health profile.
"In the past, we had relied heavily on spreadsheets to forecast renewals, churn and upsell," said Costas Vasiliou, CCO & Co-founder of Schoox. "Totango has taken a huge step forward in helping companies with a better way to forecast their recurring revenue stream and improve revenue predictability. Revenue Center has become a critical business tool in managing and running our customer operations."
The new tool is integrated automatically into Totango's Customer Success platform, and provides a real-time, holistic view of customer accounts, their revenue stream and the core attributes to forecast renewals and upsell opportunities, while allowing companies to take control of churn at the same time.
Click here to learn more about Revenue Center.
To learn more about Totango, visit: www.totango.com
Totango is the leader in customer success management. The company helps SaaS and subscription businesses take a data-driven approach to reducing churn, driving customer adoption and advocacy, and maximizing lifetime revenue. Totango monitors customer behavior and business outcomes -- along with data from CRM, billing, and other enterprise systems -- to generate insights on customer health and engagement. The company's platform combines big data analytics with powerful segmentation and predictive tools to help companies pinpoint at-risk customers, spot upsell opportunities, and then manage interactions with customers to drive productivity and scale for customer success teams.