Transforming Customer Relationships into Powerful Assets
Our client is one of the world’s leading analytics software providers
Industry: Technology
92%
Annual renewal rate
20%
Increase in on-time renewal rates
5.5k
Customer health check conducted
Challenge
With consistent growth and a strong pipeline, one of the world’s leading analytics software providers was experiencing low customer churn and healthy renewal rates, but maintaining that trajectory required forecasting consistency, which was complicated by a low number of timely payments. Without knowing when to expect revenue would come in, the company could not plan to reinvest that capital.
An audit conducted by Concentrix unveiled that the sending out invoices without a dedicated relationship management strategy was a barrier to not only ensuring timely payments, but to sourcing critical customer feedback, data, and insights. The company was maintaining lines of communication with larger customers but were challenged in replicating that model with smaller customers. By shifting their renewals model to be more hands-on, we saw an opportunity to drive consistency in payments and transform their customer community into a success engine for the business at large.
Solution
Concentrix began managing a large portfolio of the client’s nondedicated accounts with the goal of improving on-time payment rates among the company’s smaller customers.
What we found during the renewals launch was that many of the customers had never engaged directly with the business before.
Following the success of the renewals launch, the company expanded its relationship with Concentrix to add customer success and inside sales programs
What started as a straightforward renewal program quickly evolved as we started hearing more from customers on what was working and what wasn’t.
Outcomes
92% Annual renewal rate
20% Increase in on-time renewal rates
5.5k Customer health check conducted
