|Weekly News Digest
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Scout Analytics Debuts Renewal Performance Management Solution
Scout Analytics, Inc., a provider of cloud-based recurring revenue management solutions for subscription-based businesses, recently launched the industry’s first closed-loop solution for renewal performance management. Scout Analytics’ products “enable information services, media publishing, and software-as-a-service companies to leverage usage data to maximize customer lifetime value,” according to its website. The solution uses data to predict renewal revenue opportunities that reduce churn, improve yield, and enhance performance.
The solution’s features—a Renewal Performance Dashboard, Renewal Performance Calculator, and Renewal Performance Analysis—allow businesses to manage a closed-loop renewal process: It takes sales and marketing teams from revenue identification to decision making on renewal revenue opportunities.
The Dashboard shows a color-coded recurring revenue report over time and allows for performance tracking in real time. It also shows predictive analytics created by monthly recurring revenue (MRR) and churn statistics.
Subscription-based businesses rely on customer data more than other businesses, so investing in analytics can help them create better budgets and bring in more revenue. The Calculator, which powers the Dashboard, figures out renewals’ impact to MRR and classifies customer subscriptions as up-sells, down-sells, or cancellations.
The Analysis links renewal predictions with resolutions for renewal revenue improvement.
Source: Scout Analytics, Inc.
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