Recently, Chanan Greenberg, SVP, and GM High Tech at Model N hosted Larry Walsh, CEO of Channelnomics, and Mark Stiving, Chief Pricing Educator from Impact Pricing to discuss insights from the 2021 State of Revenue Report.
Model N commissioned our annual survey with Dimensional Research and engaged with 300 C-level executives who are directly responsible for revenue management. From the report and discussion, the following are three key takeaways:
Takeaway 1: Multiple trends are driving the increase in revenue management opportunities.
Typical business growth is certainly a factor reported by just over half (52%). However, the top reason for the increase, as reported by 64% of executives, is that technology enables more granular execution of revenue management tasks. Other growth drivers include increasing regulation and compliance requirements (54%), more stakeholders and partners (50%), and subscription pricing models (49%).
Takeaway 2: Channel relationships that number into the thousands, make revenue management tremendously complex
Executives reported issues with their channels’ financial controls and compliance, including getting accurate data from channel partners (58%), solving challenges with audits (48%), ensuring payments are accurate (46%), and accruing correctly for liabilities (41%).
Takeaway 3: To drive sales and strengthen channel relationships, high-tech companies are introducing more sophisticated incentive programs.
94% of companies reported that they face issues with incentive management if these programs are not implemented and managed correctly and can negatively impact channel performance.
To listen to the complete webinar and hear more takeaways, go here. To learn more about Channelnomics strategic offering, click here. To learn more about Impact Pricing offers, go here. To learn how Model N can assist you in your revenue management journey, go here.