Stephen Hurrell's Analyst Perspectives | Conversational Computing

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Chief Sales and Revenue Officers face an imperative to manage their sales and revenue organizations, but they don’t always have the guidance they need to embrace technology to achieve the best possible outcomes. As we look forward to 2023, we...</p> </div> <a href="https://stephenhurrell.isg-one.com/the-revolution-in-revenue-in-2023-ventana-research-market-agenda"><span class="readmore"> Read More </span></a><br><br> Topics: <a href="https://stephenhurrell.isg-one.com/tag/sales">Sales</a>, <a href="https://stephenhurrell.isg-one.com/tag/analytics">Analytics</a>, <a href="https://stephenhurrell.isg-one.com/tag/internet-of-things">Internet of Things</a>, <a href="https://stephenhurrell.isg-one.com/tag/data">Data</a>, <a href="https://stephenhurrell.isg-one.com/tag/sales-performance-management">Sales Performance Management</a>, <a href="https://stephenhurrell.isg-one.com/tag/digital-technology">Digital Technology</a>, <a href="https://stephenhurrell.isg-one.com/tag/digital-commerce">Digital Commerce</a>, <a href="https://stephenhurrell.isg-one.com/tag/conversational-computing">Conversational Computing</a>, <a href="https://stephenhurrell.isg-one.com/tag/mobile-computing">mobile computing</a>, <a href="https://stephenhurrell.isg-one.com/tag/subscription-management">Subscription Management</a>, <a href="https://stephenhurrell.isg-one.com/tag/extended-reality">extended reality</a>, <a href="https://stephenhurrell.isg-one.com/tag/intelligent-sales">intelligent sales</a>, <a href="https://stephenhurrell.isg-one.com/tag/partner-management">partner management</a>, <a href="https://stephenhurrell.isg-one.com/tag/sales-engagement">sales engagement</a>, <a href="https://stephenhurrell.isg-one.com/tag/revenue-performance-management">Revenue Performance Management</a>, <a href="https://stephenhurrell.isg-one.com/tag/ai-and-machine-learning">AI and Machine Learning</a> <hr> </div>  <div class="blog-index__post-content" style="margin-bottom: 80px"> <div class="post-meta"> <h2 style="font-size: 1.875rem;"><a href="https://stephenhurrell.isg-one.com/the-2022-market-agenda-for-office-of-revenue-new-performance-priority">The 2022 Market Agenda for Office of Revenue: New Performance Priority</a></h2> <div class="author-meta"> Posted by <a href="https://stephenhurrell.isg-one.com/author/stephen-hurrell"> Stephen Hurrell </a> on <span class="post-date">08 February 2022 </span> </div>  <hr> </div> <div class="list-card-p"><div class="wrapingimage"> <img src="https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png?width=200&name=AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png" width="200" !important: srcset="https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png?width=100&name=AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png 100w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png?width=200&name=AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png 200w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png?width=300&name=AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png 300w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png?width=400&name=AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png 400w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png?width=500&name=AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png 500w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png?width=600&name=AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png 600w" sizes="(max-width: 200px) 100vw, 200px"> </div> <p>Ventana Research recently announced its 2022 Market Agenda for the Office of Revenue, continuing the guidance we have offered for nearly two decades to help organizations realize optimal value from applying technology to improve business outcomes. Chief sales and revenue officers and their associated operations teams are experts in their respective fields but may not have the guidance needed to employ technology effectively. As we look to 2022, we are focusing on the entire selling and buying...</p> </div> <a href="https://stephenhurrell.isg-one.com/the-2022-market-agenda-for-office-of-revenue-new-performance-priority"><span class="readmore"> Read More </span></a><br><br> Topics: <a href="https://stephenhurrell.isg-one.com/tag/sales">Sales</a>, <a href="https://stephenhurrell.isg-one.com/tag/analytics">Analytics</a>, <a href="https://stephenhurrell.isg-one.com/tag/internet-of-things">Internet of Things</a>, <a href="https://stephenhurrell.isg-one.com/tag/data">Data</a>, <a href="https://stephenhurrell.isg-one.com/tag/sales-performance-management">Sales Performance Management</a>, <a href="https://stephenhurrell.isg-one.com/tag/digital-technology">Digital Technology</a>, <a href="https://stephenhurrell.isg-one.com/tag/digital-commerce">Digital Commerce</a>, <a href="https://stephenhurrell.isg-one.com/tag/conversational-computing">Conversational Computing</a>, <a href="https://stephenhurrell.isg-one.com/tag/mobile-computing">mobile computing</a>, <a href="https://stephenhurrell.isg-one.com/tag/subscription-management">Subscription Management</a>, <a href="https://stephenhurrell.isg-one.com/tag/extended-reality">extended reality</a>, <a href="https://stephenhurrell.isg-one.com/tag/intelligent-sales">intelligent sales</a>, <a href="https://stephenhurrell.isg-one.com/tag/partner-management">partner management</a>, <a href="https://stephenhurrell.isg-one.com/tag/sales-engagement">sales engagement</a>, <a href="https://stephenhurrell.isg-one.com/tag/ai-and-machine-learning">AI and Machine Learning</a> <hr> </div>  <div class="blog-index__post-content" style="margin-bottom: 80px"> <div class="post-meta"> <h2 style="font-size: 1.875rem;"><a href="https://stephenhurrell.isg-one.com/why-i-joined-ventana-research-to-lead-office-of-sales">Why I Joined Ventana Research to Lead Office of Sales</a></h2> <div class="author-meta"> Posted by <a href="https://stephenhurrell.isg-one.com/author/stephen-hurrell"> Stephen Hurrell </a> on <span class="post-date">21 August 2020 </span> </div>  <hr> </div> <div class="list-card-p"><div class="wrapingimage"> <img src="https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png?width=200&name=AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png" width="200" !important: srcset="https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png?width=100&name=AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png 100w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png?width=200&name=AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png 200w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png?width=300&name=AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png 300w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png?width=400&name=AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png 400w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png?width=500&name=AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png 500w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png?width=600&name=AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png 600w" sizes="(max-width: 200px) 100vw, 200px"> </div> <p>I’m very excited to announce to my network as well as the ever-expanding <a href="https://www.ventanaresearch.com/" style="text-decoration: underline;">Ventana Research community</a> that I’m now directing Ventana Research’s Office of Sales practice. The focus is to guide and educate sales and business professionals on the selling applications and technology including digital commerce, price and revenue management, product information management, sales enablement, sales performance management and subscription management. While these are the main topics of our <a href="https://www.ventanaresearch.com/sales" style="text-decoration: underline;">Office of Sales...</a></p> </div> <a href="https://stephenhurrell.isg-one.com/why-i-joined-ventana-research-to-lead-office-of-sales"><span class="readmore"> Read More </span></a><br><br> Topics: <a href="https://stephenhurrell.isg-one.com/tag/sales">Sales</a>, <a href="https://stephenhurrell.isg-one.com/tag/embedded-analytics">embedded analytics</a>, <a href="https://stephenhurrell.isg-one.com/tag/analytics">Analytics</a>, <a href="https://stephenhurrell.isg-one.com/tag/business-intelligence">Business Intelligence</a>, <a href="https://stephenhurrell.isg-one.com/tag/collaboration">Collaboration</a>, <a href="https://stephenhurrell.isg-one.com/tag/data">Data</a>, <a href="https://stephenhurrell.isg-one.com/tag/product-information-management">Product Information Management</a>, <a href="https://stephenhurrell.isg-one.com/tag/sales-performance-management-spm">Sales Performance Management (SPM)</a>, <a href="https://stephenhurrell.isg-one.com/tag/digital-technology">Digital Technology</a>, <a href="https://stephenhurrell.isg-one.com/tag/work-and-resource-management">Work and Resource Management</a>, <a href="https://stephenhurrell.isg-one.com/tag/digital-commerce">Digital Commerce</a>, <a href="https://stephenhurrell.isg-one.com/tag/conversational-computing">Conversational Computing</a>, <a href="https://stephenhurrell.isg-one.com/tag/collaborative-computing">collaborative computing</a>, <a href="https://stephenhurrell.isg-one.com/tag/mobile-computing">mobile computing</a>, <a href="https://stephenhurrell.isg-one.com/tag/intelligent-sales">intelligent sales</a>, <a href="https://stephenhurrell.isg-one.com/tag/sales-enablement">sales enablement</a>, <a href="https://stephenhurrell.isg-one.com/tag/ai-and-machine-learning">AI and Machine Learning</a> <hr> </div> <script> // Check active classes var checkClass = function() { if ( $('.fil_item').hasClass('hide') ) { $('.fil_item').removeClass('hide'); 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Each Analyst Perspective presents the view of the analyst who is an established subject matter expert on new developments, business and technology trends, findings from our research, or best practice insights.</p> <p>Each is prepared and reviewed in accordance with Ventana Research’s strict standards for accuracy and objectivity and reviewed to ensure it delivers reliable and actionable insights. It is reviewed and edited by research management and is approved by the Chief Research Officer; no individual or organization outside of Ventana Research reviews any Analyst Perspective before it is published. If you have any issue with an Analyst Perspective, please email them to <a href="mailto:ChiefResearchOfficer@isg-research.net">ChiefResearchOfficer@isg-research.net</a></p> </li> </ul> <a class="btn-secondary" href="https://www.isg-research.net/analyst-perspective-policy">View Policy</a></span>  <div id="hs_cos_wrapper_module_168621267066296" class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" style="" data-hs-cos-general-type="widget" data-hs-cos-type="module"><style> </style> <h3 style="color: #255a89;">Our Analysts</h3>  <div class="row-fluid"> <div class="span6" style="text-align: center;"> <a href="https://davidmenninger.isg-research.net"> <img class="analyst_img" style="width: 100px;" src="https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Menninger.David%20Pic.Circle.png?width=100&name=Menninger.David%20Pic.Circle.png" alt="David Menninger" width="100" data-constrained="true" caption="false" sizes="(max-width: 100px) 100vw, 100px" srcset="https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Menninger.David%20Pic.Circle.png?width=50&name=Menninger.David%20Pic.Circle.png 50w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Menninger.David%20Pic.Circle.png?width=100&name=Menninger.David%20Pic.Circle.png 100w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Menninger.David%20Pic.Circle.png?width=150&name=Menninger.David%20Pic.Circle.png 150w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Menninger.David%20Pic.Circle.png?width=200&name=Menninger.David%20Pic.Circle.png 200w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Menninger.David%20Pic.Circle.png?width=250&name=Menninger.David%20Pic.Circle.png 250w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Menninger.David%20Pic.Circle.png?width=300&name=Menninger.David%20Pic.Circle.png 300w"> <h5 class="analyst_name">David Menninger</h5> </a> </div> <div class="span6" style="text-align: center;"> <a href="https://jefforr.isg-research.net"> <img class="analyst_img" style="width: 100px;" src="https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Orr.Jeff.Circle.png?width=100&name=Orr.Jeff.Circle.png" alt="Jeff Orr" width="100" data-constrained="true" caption="false" srcset="https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Orr.Jeff.Circle.png?width=50&name=Orr.Jeff.Circle.png 50w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Orr.Jeff.Circle.png?width=100&name=Orr.Jeff.Circle.png 100w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Orr.Jeff.Circle.png?width=150&name=Orr.Jeff.Circle.png 150w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Orr.Jeff.Circle.png?width=200&name=Orr.Jeff.Circle.png 200w, https://stephenhurrell.isg-one.com/hs-fs/hubfs/_images/_team/Orr.Jeff.Circle.png?width=250&name=Orr.Jeff.Circle.png 250w, 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class="filter-link-count" dir="ltr">(17)</span></a> </li> <li style="display:none;"> <a href="https://stephenhurrell.isg-one.com/tag/sales-performance-management-spm">Sales Performance Management (SPM) <span class="filter-link-count" dir="ltr">(3)</span></a> </li> <li style="display:none;"> <a href="https://stephenhurrell.isg-one.com/tag/streaming-analytics">Streaming Analytics <span class="filter-link-count" dir="ltr">(1)</span></a> </li> <li style="display:none;"> <a href="https://stephenhurrell.isg-one.com/tag/subcription-management">subcription management <span class="filter-link-count" dir="ltr">(1)</span></a> </li> <li style="display:none;"> <a href="https://stephenhurrell.isg-one.com/tag/subscription-billing">Subscription Billing <span class="filter-link-count" dir="ltr">(1)</span></a> </li> <li style="display:none;"> <a href="https://stephenhurrell.isg-one.com/tag/subscription-management">Subscription Management <span class="filter-link-count" dir="ltr">(27)</span></a> </li> <li style="display:none;"> <a href="https://stephenhurrell.isg-one.com/tag/total-compensation-management">Total Compensation Management <span class="filter-link-count" dir="ltr">(1)</span></a> </li> <li style="display:none;"> <a href="https://stephenhurrell.isg-one.com/tag/vocalcom-and-zeacom">Vocalcom and Zeacom <span class="filter-link-count" dir="ltr">(1)</span></a> </li> <li style="display:none;"> <a href="https://stephenhurrell.isg-one.com/tag/voice-of-the-customer">Voice of the Customer <span class="filter-link-count" dir="ltr">(2)</span></a> </li> <li style="display:none;"> <a href="https://stephenhurrell.isg-one.com/tag/work-and-resource-management">Work and Resource Management <span class="filter-link-count" dir="ltr">(1)</span></a> </li> </ul> <a class="filter-expand-link" href="#">see all</a> </div> </div> </span> <br><br> <h3 style="color: var(--light_blue);padding-top:40px;">Analyst Perspectives Archive</h3> <p><a class="btn-secondary" 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our authorised service providers may use cookies for storing information to help provide you with a better, faster and safer experience and for marketing purposes.</span></p> </div> </div> </div> </footer></div>  <script defer src="/hs/hsstatic/content-cwv-embed/static-1.1293/embed.js"></script> <script src="https://stephenhurrell.isg-one.com/hs-fs/hub/2035844/hub_generated/template_assets/94278782902/1725882474552/Ventana_Research_2023/Ventana_Research_2023_child.min.js"></script> <script> var hsVars = hsVars || {}; hsVars['language'] = 'en'; </script> <script src="/hs/hsstatic/cos-i18n/static-1.53/bundles/project.js"></script> <script src="https://stephenhurrell.isg-one.com/hs-fs/hub/2035844/hub_generated/module_assets/90531062927/1702386872146/module_90531062927_Header-Global.min.js"></script> <script type="application/ld+json"> { "@context": "http://schema.org", "@type": "BlogPosting", "headline": "The Revolution in Revenue in 2023: Ventana Research Market Agenda", "mainEntityOfPage": "https://stephenhurrell.isg-one.com/the-revolution-in-revenue-in-2023-ventana-research-market-agenda", "datePublished": "13/01/2023", "dateModified": "13/01/2023", "articleBody": "Ventana Research recently announced its 2023 research agenda for the Office of Revenue, continuing the guidance we’ve offered for nearly two decades to help organizations realize their optimal value from applying technology to improve business outcomes. Chief Sales and Revenue Officers face an imperative to manage their sales and revenue organizations, but they don’t always have the guidance they need to embrace technology to achieve the best possible outcomes. As we look forward to 2023, we are focusing on the entire selling and buying journey, and in addition focusing on those activities that ensure renewal and expansion as well as newer digital engagement and selling channels. We are looking at applications that simplify processes and tasks across the customer experience, from beginning to end. To help, we craft our research agenda using our firm’s expertise on business requirements and our knowledge of technology vendors and products. Through our continuous market research, we offer insights and best practices to help both the lines of business and IT as well as across industry verticals that will help any organization reach its maximum potential. In 2023, we continue our focus on the broader concept of revenue management to help organizations address their strategy, planning and operations. With the rise of digital commerce and subscription business models, organizations’ primary focus on new business is shifting. With the higher cost of new customer acquisition and the resulting importance of customer retention and expansion, the entire customer experience is of vital importance in building and sustaining a business. These processes that support the customer experience require specific technology — a 360-degree view of customers, digital buying technology, pricing optimization for managing B2C and B2B models, and configure-price-quote (CPQ) applications to enable adjusting contract terms based on the configuration of products as is most often found in B2B-focused organizations. We also will focus on the mixed-revenue model that includes the subscription management experience as, for many industries, this is a growing part of the overall customer journey. Improving sales outcomes and revenue are key to sales effectiveness, and emerging sales applications and tools provide the path to that goal. New applications and tools designed for salespeople and processes are designed to help not just with managing sales organizations but also to help salespeople effectively sell. Reflecting this, our sales and revenue practice addresses six focus areas: digital commerce; revenue management; sales engagement; sales and revenue performance management; subscription management; and partner management. Digital Commerce Digital commerce enables organizations to engage with any type of customer across digital channels — the web, mobile apps, text, voice-activated “agents,” video and social channels — to deliver an optimal customer and product experience. In the world of digital commerce, the customer and product experience are top differentiators. Conversational computing as well as hyper-personalization are transforming customer engagement, and many organizations will need to renovate their digital platform to optimize customer and product experiences or risk lagging behind competitors. Moving beyond consumer purchase, we will also look at how B2B selling and buying are increasingly using B2C digital approaches to mirror this experience. We will conduct new Benchmark and Value Index research in 2023 to identify best practices and assess and rate technology vendors’ potential to help meet evolving commerce needs. Revenue Management With the rise of digital commerce and the subscription and usage business models, organizations are increasingly recognizing that the traditional primacy of a new customer-focus needs to change. As new customer acquisition costs are high, both retention and existing customer expansion are of equal importance. And with the exponential growth of data — not just generated internally through CRM, order and back-office systems, but with the addition of third-party location and firmographic — technology can be used to help identify, navigate and execute new paths to revenue. In addition, sales, marketing and customer success will need to plan and operate together to ensure all departments are aligned to a company’s revenue goals. Despite this, through 2025, we believe that more than three-fifths of organizations will limit the effectiveness of revenue management with an incomplete view of a customer’s journey from lead, engagement, purchasing to onboarding, renewal and expansion. We will also focus on the importance of evaluating CRM implementations and whether they are keeping up with business process changes, as so much of vendor feature development is dependent on clean and timely data to drive insights and artificial intelligence (AI) recommendations. We will conduct new Benchmark and Value Index research in 2023 to identify best practices and assess and rate technology vendors’ potential to help meet emerging revenue management needs across all aspects of the buyer and customer journey. Sales Engagement Sales engagement facilitates intelligent engagement and execution by sales professionals to achieve optimal revenue outcomes. With a recognized decline in quota attainment, a shift in balance to buyers through internet-based research capabilities and changes wrought by the pandemic, vendors have been focusing more on how to help sell and not just manage sales. After a slow start, systems that use AI and knowledge management technology are starting to provide prioritized insights that increase sales effectiveness. We do not believe sales enablement should exist as a separate category as much of the need and recent technical innovations link enablement to engagement; and, like engagement, it is increasingly utilizing much of the same data as sales engagement applications to drive effectiveness within selling teams. Organizations should invest in sales enablement systems designed to support salespersons and not just those that manage sales organizations. We will continue to conduct Dynamic Insights research in 2023 on the challenges and potential for sales engagement. Sales and Revenue Performance Management Revenue performance management (RPM) is the natural successor to sales performance management (SPM) and enables revenue and sales leaders to align strategy and planning to optimally engage all types of accounts and territories, whether supported by direct, partner or self-service digital commerce channels, using quotas and compensation to achieve the best possible outcomes. In addition, we will reflect the changing focus from solely new business to include those involved in customer retention and expansion. Managing revenue performance requires that organizations effectively plan revenue processes and resources; it’s critical that planning be collaborative to optimize engagement and boost revenue performance. Mobile devices can provide instantaneous updates and give sales professionals and managers a straightforward view of performance to enable more effective management. We recommend that organizations adopt RPM and evaluate the Value Index for guidance on vendors and review the results of the new RPM Value Index that will be released in 2023. Subscription Management Subscription management involves processes and applications designed to manage the subscriber experience from first digital touch to subscriber engagement and billing. To engage subscribers more effectively, organizations must prioritize technology that enhances the subscriber experience by automating subscriber operations and financial processes. In addition, many B2B companies are adding subscription business models as part of their overall revenue mix to remain competitive as well as leverage new revenue streams to accompany existing product and service lines. In fact, we assert that by 2025, driven by customer demand, more than one-half of companies will have adopted the subscription in addition to existing business models, resulting in a need to overcome fractured process to avoid poor customer experiences. For B2B companies, a usage-based business model will make more sense, imposing new requirements on vendors to enable pricing models that support individually negotiated contracts. We will be publishing the results of our comprehensive Value Index research in 2023 that reviews best practices and assesses and rates technology vendors’ potential to help meet emerging subscription needs. Partner Management Partner management involves processes and applications designed to support businesses that bundle or resell other providers’ services and products. Although not new, this a growing model where an ecosystem of vendors supplies customers with a mix of their own products and services with those from other third parties. This necessitates new onboarding processes, revenue allocation and service level agreement (SLA) monitoring and reporting. We will conduct new Benchmark Research in 2023 to identify best practices and assess and rate technology vendors’ potential to help meet emerging partner management needs. Every sales organization, no matter how many employees it has or the size of its revenue, has an opportunity to significantly improve the selling experience. Enhancements to underlying processes and technology can have an immediate impact on top- and bottom-line results. Determining your path forward in 2023 requires an effective strategy and knowledge of the technology you need to improve or add to your existing portfolio of investments. Subscribe to our community to keep up to date on our research efforts in 2023 and navigate to our revenue expertise and topic areas to see the detailed agenda and continuously updated 90-day calendar, as well as more research facts and best practices. Regards, Stephen Hurrell", "image": { "@type": "ImageObject", "url": "https://www.ventanaresearch.com/hubfs/The%20Revolution%20in%20Revenue%20in%202023%20Ventana%20Research%20Market%20Agenda.png", "height": 400, "width": 750 }, "author": { "@type": "Person", "name": "Stephen Hurrell", "url": "https://stephenhurrell.isg-one.com/author/stephen-hurrell", "sameAs": "https://www.linkedin.com/in/stephenhurrell" }, "publisher": { "@type": "Organization", "name": "ISG", "url": "stephenhurrell.isg-one.com", "logo": { "@type": "ImageObject", "url": "https://www.ventanaresearch.com/hubfs/ISG_Software_Research_Logo_Color@2x.png" } } }</script> <script type="application/ld+json"> { "@context": "http://schema.org", "@type": "BlogPosting", "headline": "The 2022 Market Agenda for Office of Revenue: New Performance Priority", "mainEntityOfPage": "https://stephenhurrell.isg-one.com/the-2022-market-agenda-for-office-of-revenue-new-performance-priority", "datePublished": "08/02/2022", "dateModified": "08/02/2022", "articleBody": "Ventana Research recently announced its 2022 Market Agenda for the Office of Revenue, continuing the guidance we have offered for nearly two decades to help organizations realize optimal value from applying technology to improve business outcomes. Chief sales and revenue officers and their associated operations teams are experts in their respective fields but may not have the guidance needed to employ technology effectively. As we look to 2022, we are focusing on the entire selling and buying life cycle and the applications that simplify and improve interactions throughout the customer experience. We craft our market agenda using our firm’s expertise on business requirements and our knowledge of technology vendors and products. Through our continuous market research, we offer insights and best practices to both the lines of business and IT as well as across industry verticals to help every organization reach its maximum potential. For 2022, we have added a focus on the broader context of revenue management and the best practices and technology to help revenue-focused organizations address strategy, planning and operations. But the unique requirements for commercial, legal, revenue and sales operations teams must be addressed by the specific selling and buying processes of the organization. With the rise of digital commerce and subscription models, the primary focus on new business is shifting. Considering the cost of customer acquisition and the importance of customer retention and expansion, the entire customer experience is of vital importance in building and sustaining a business. These processes require specific technologies - a 360-degree view of customer and revenue channels, digital buying technology, pricing optimization for managing business-to-consumer models, and configure-price-quote software to adjust contract terms based on the configuration of products, as is often found in business-to-business organizations. We will also focus on the subscription management experience - a critical part of the customer journey in many industries. Improving outcomes are key to revenue effectiveness, and emerging applications and tools provide the path to achieve that goal. New applications and tools designed for salespeople and revenue teams not only help manage revenue-focused organizations but also help selling channels to sell more effectively. Reflecting this, our Office of Revenue practice addresses six focus areas: Digital Commerce; Revenue Management; Sales Engagement; Revenue Performance Management; Subscription Management and Partner Management. Digital Commerce In the world of digital commerce, customer and product experiences are top differentiators. Digital commerce technology enables organizations to engage customers through any digital channel - the web, mobile apps, text, voice-activated “agents,” video and social channels - and deliver an optimal experience. Conversational computing and hyper-personalization are transforming customer engagement, and a digital platform renovation may be necessary to optimize customer and product experiences or risk lagging behind competitors. We assert that by the end of 2024, two-thirds of organizations using digital commerce systems will conclude they need to abandon existing technology deemed ineffective in supporting engage customer and product experiences. Moving beyond consumer purchase, we will also look at how B2B selling and buying are increasingly using similar B2C digital approaches to mirror the digital commerce experience. We will conduct new Benchmark Research and Value Index research in 2022 to identify best practices and assess and rate technology vendors’ potential to help meet evolving digital commerce needs. Revenue Management With the rise of subscription and usage business models as well as digital commerce, organizations are increasingly recognizing that the typical focus on the primacy of new-customer- business needs to change. Given high customer-acquisition costs, both customer retention and existing customer expansion are of equal importance. And with the exponential growth of data - not just generated internally through customer-relationship management systems, order management and back-office systems, but also third-party location and firmographics - technology can be used to help identify, navigate and execute new paths to revenue. In addition, sales, marketing, and customer service will need to plan and operate together to ensure all departments are aligned on revenue goals. We assert that through 2023, the revenue management software category will evolve into the essential suite of applications and platform designed for a CRO and supporting organizations to effectively optimize revenue across all channels. We will conduct new Benchmark Research and Value Index research this year to identify best practices and assess and rate technology vendors’ potential to help meet emerging revenue management needs for operations and performance teams across all aspects of the buyer and customer life cycle. Sales Engagement With a recognized decline in quota attainment, a shift in balance to buyers through internet-based research capabilities, and changes wrought by the pandemic, vendors have been focusing more on how to help sell and not just on managing sales. Sales engagement facilitates intelligent interactions and execution by sales professionals to achieve optimal revenue outcomes. We assert that by 2024, the category of sales engagement technology will evolve from sales enablement and focus on digital selling effectiveness to optimize revenue potential. After a hesitant initial adoption, systems that use artificial intelligence (AI) and knowledge management technology are starting to provide prioritized insights that increase sales effectiveness. Organizations should invest in sales enablement systems designed to focus on salespeople and not just technology that manages sales organizations. We will conduct new Dynamic Insights research in 2022 on the challenges and potential of sales engagement. Revenue Performance Management Revenue performance management (RPM) is the natural successor to sales performance management (SPM). RPM enables revenue and sales leaders to align strategy and planning to optimally engage all types of accounts and territories. Whether supported by direct, partners’ or self-service digital commerce channels, the management and optimized use of quotas and compensation should be used to achieve the best possible outcomes. In addition, we will reflect the changing focus from solely new business to include those involved in customer retention and expansion. Managing revenue performance requires that organizations effectively plan revenue processes and resources; it is critical that planning be collaborative to optimize engagement and boost revenue performance. Mobile devices can provide instantaneous updates and give sales professionals and managers a straightforward view of performance to enable more effective management. We recommend that organizations adopt RPM. We will have our Revenue Performance Management Value Index in the first part of 2022 and have started new Benchmark Research. Subscription Management Subscription management involves processes and applications designed to manage the subscriber experience - from the first digital touch to subscriber engagement and onto billing. Organizations can more effectively engage subscribers through technology that enhances the subscriber experience, automating subscriber operations and financial processes. In addition, many B2B companies are shifting to a subscription business model to remain competitive. We assert that by 2024, the division of the market for subscription management software between digitally native and mixed business models will converge to platforms that can provide for both. For these companies, multiple customer engagement models, including usage-based pricing and billing makes more sense, imposing new needs on vendors to support pricing models that address individually negotiated contracts. We will conduct new Benchmark Research and Value Index research in 2022 to identify best practices and assess and rate technology vendors’ potential to help meet emerging subscription management needs. Partner Management Partner management involves processes and applications designed to support businesses that bundle or resell other providers’ services and products. Although not new, this is a growing model where an ecosystem of vendors supplies customers with products and services of their own or from others. This necessitates new onboarding processes, revenue allocation and service-level agreement monitoring and reporting. Through 2025, a new generation of partner-management applications for onboarding, SLA management and origination and partner payments will replace existing ones that only focus on indirect channel selling. We will conduct new Benchmark Research in 2022 to identify best practices and assess and rate technology vendors’ potential to help meet emerging partner management needs. Every revenue-focused organization, no matter how many employees or the size of its revenue, has an opportunity to significantly improve the selling experience. Enhancements to underlying revenue processes and technology can have an immediate impact on top- and bottom-line results. Determining your path forward in 2022 requires an effective strategy and knowledge of the technology you need to improve or add to your existing portfolio of investments. Subscribe to the Ventana Research community to stay up to date on our 2022 research efforts. Visit the revenue expertise and topic areas for our detailed agenda and continuously updated 90-day calendar as well as more research facts and best practices. Regards, Stephen Hurrell", "image": { "@type": "ImageObject", "url": "https://www.ventanaresearch.com/hubfs/AP_SH_The%202022%20Market%20Agenda%20for%20Office%20of%20Revenue-New%20Performance%20Priority.png", "height": 400, "width": 750 }, "author": { "@type": "Person", "name": "Stephen Hurrell", "url": "https://stephenhurrell.isg-one.com/author/stephen-hurrell", "sameAs": "https://www.linkedin.com/in/stephenhurrell" }, "publisher": { "@type": "Organization", "name": "ISG", "url": "stephenhurrell.isg-one.com", "logo": { "@type": "ImageObject", "url": "https://www.ventanaresearch.com/hubfs/ISG_Software_Research_Logo_Color@2x.png" } } }</script> <script type="application/ld+json"> { "@context": "http://schema.org", "@type": "BlogPosting", "headline": "Why I Joined Ventana Research to Lead Office of Sales", "mainEntityOfPage": "https://stephenhurrell.isg-one.com/why-i-joined-ventana-research-to-lead-office-of-sales", "datePublished": "21/08/2020", "dateModified": "21/08/2020", "articleBody": "I’m very excited to announce to my network as well as the ever-expanding Ventana Research community that I’m now directing Ventana Research’s Office of Sales practice. The focus is to guide and educate sales and business professionals on the selling applications and technology including digital commerce, price and revenue management, product information management, sales enablement, sales performance management and subscription management. While these are the main topics of our Office of Sales practice, my decades of experience in analytics, artificial intelligence (AI) and planning are part of what I bring to the firm to help advance the science of selling. Those with whom I have worked with over the years know me in predominately a range of product leadership roles including product management or product marketing, from my days at IRI Software through the Oracle acquisition and most recently at Exigen, C9 Analytics, InsideSales.com, Aviso and RecVue. By the way, I worked with Mark Smith, our CEO and Chief Research Officer and David Menninger, our SVP of Research in Analytics and Data, at IRI Software in the early 1990’s. In addition, I have held management positions running business development, professional services, pre-sales and support teams. This has given me a breadth of understanding of the product development process, implications for implementation and configuration and most importantly, a deep understanding of how applications can support or hinder business process improvements and business results. In my most recent roles, I have worked at the forefront of data- and AI-driven applications for both inside and outside sales organizations that support executive management, sales management, operations and front-line personnel. My work has ranged from startups to global technology behemoths like Oracle. In these roles, I have worked closely with the sales organization to enable sustained adoption of AI-based opportunity scoring as an additional indicator of pipeline health and for sales forecasting. Informing my work here at Ventana Research, will be my experience in sales applications and using analytics and planning-enabled finance applications with my knowledge of product and marketing processes. This firm provides insights drawn from objective, quantitative research, subject matter expertise and the experience of the organization in our Benchmark Research, Dynamic Insights and Value Index products, along with our Ventana On-Demand advisory, education and consultative products, which are designed to advise and educate sales and operations leadership. Ventana Research helps business and technology management look beyond the latest technical hype and better understand how their organization can be improved through the deployment of technology. Sales organizations are facing increasing challenges as quota attainment levels continue to decline. The rise of the internet, and thus the enhanced availability of extensive product information and crowd-sourced reviews, has introduced a degree of asymmetry into the selling process. It is now not uncommon that by the first time a vendor is engaged, the buyer is already months into their process and has already selected the final candidates, limiting vendors’ options to influence the process such as the RFP. In addition, there are now more active participants from prospective customers in the buying process, which is leading to longer and more involved cycles. But vendors are increasingly seeing opportunities to develop applications that can help sales organizations better understand where opportunities lie, how to more effectively deploy resources and how to fail more quickly so that minimal time is wasted on weak opportunities. Better collaboration across sales organizations, including cooperation between inside and outside sales teams with sales operations, and more effective knowledge sharing are critical components of any sales team’s effectiveness. Companies that understand what technology can—and cannot do and that also understand that change requires not just technology, but good management will improve their chances of remaining competitive and attaining revenue goals. Ventana Research’s focus on the business impact of technology, honed over nearly 20 years, results first and foremost in recommendations that address customer challenges and opportunities. I look forward to continuing the firm’s excellent work in providing insights and guidance to the industry. As we continue to elevate the importance of the dedicated needs of sales organizations, I am eager to work with our clients to help them understand the applications and technology that is appropriate for their team’s journey to greater achievement. Our clients can easily schedule time with me through our client success team whom are dedicated to providing the best possible Ventana eXperience! Best, Stephen Hurrell", "image": { "@type": "ImageObject", "url": "https://www.ventanaresearch.com/hubfs/AP_SH_Why_I_Joined_VR_to_Lead_OOS_AP_SH_Why_I_Joined_VR_to_Lead_OOS.png", "height": 400, "width": 750 }, "author": { "@type": "Person", "name": "Stephen Hurrell", "url": "https://stephenhurrell.isg-one.com/author/stephen-hurrell", "sameAs": "https://www.linkedin.com/in/stephenhurrell" }, "publisher": { "@type": "Organization", "name": "ISG", "url": "stephenhurrell.isg-one.com", "logo": { "@type": "ImageObject", "url": "https://www.ventanaresearch.com/hubfs/ISG_Software_Research_Logo_Color@2x.png" } } }</script>  <script data-hs-allowed="true" src="/_hcms/forms/v2.js"></script> <script data-hs-allowed="true"> var options = { portalId: '2035844', formId: 'fa276fc9-9a16-4673-a644-1fcbedcc3c24', formInstanceId: '2410', pageId: '33416738894', region: 'na1', inlineMessage: "Thanks for subscribing!", rawInlineMessage: "Thanks for subscribing!", hsFormKey: "16b710183ad48b9d58a03abc06baf9ef", css: '', target: '#hs_form_target_module_1552944263900179', contentType: "listing-page", formsBaseUrl: '/_hcms/forms/', formData: { cssClass: 'hs-form stacked hs-custom-form' } }; 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