Using revenue operations software gives your teams a set of tools they need to work more effectively while also automating some of the tasks that are currently done manually. This frees up time for sales reps to focus on closing deals instead of chasing leads or managing contracts.
This article will walk you through an overview of revenue operations software and the best platforms you can choose to deploy for your business.
What Is Revenue Operations Software?
Revenue operations software is an integrated suite of tools that allows you to manage all aspects of your revenue and sales cycle from one central platform.
It gives you the ability to track all aspects of your business from one place, including sales, marketing, and finance. This enables you to focus on growing your business rather than managing multiple platforms and spreadsheets.
The software also provides analytics so you can see how well each department contributes to your overall success as a company.
Why Revenue Operations Software Can Be Useful
Revenue operations software benefits your sales team and other departments of your organization.
Specifically, it helps:
- Bring together all your data from across your business, so every team member can access the information they need. This helps them better decide how best to handle each stage of the sale process — from acquisition to post-sale support.
- Improve collaboration and make it easier for your team members to share ideas.
- Manage your revenue cycle more efficiently by streamlining manual processes, automating manual tasks, and providing visibility into key metrics like sales forecasts, orders, invoices, payments, and more.
- Provide visibility into your pipeline at every stage of the sales cycle, from prospecting to closing deals and beyond, so you know where your opportunities are at any given moment. This helps identify issues quickly before they become problems later down the line.
Revenue Operations Software Example
1. Hubspot Operations Hub
Hubspot Operations Hub is a collection of features that enable you to do more with your CRM data. It integrates seamlessly with your existing HubSpot account and lets you access your data anywhere. Whether you’re an analyst looking to automate reporting processes or an account executive searching for a quick way to pull up a list of leads needing follow-up calls, Operations Hub will help you get things done faster.
Price: Paid plans start from $50/month. A free plan is available.
Pros:
- Easy to sync data between platforms
- Execute code directly within HubSpot workflows with programmable automation
- Cleanse data with data quality automation
Cons:
- Need to deploy HubSpot’s CRM platform to get the most out of Operations Hub
- Features are more focused on CRM rather than revenue operations
2. Revenue Grid
Revenue Grid is a revenue operations platform that helps your teams quickly identify the highest-value opportunities in sales and revenue funnels and accelerate the deal process.
With Revenue Grid, you can see what’s happening in real-time and receive intelligence that goes beyond reports. You can guide reps through the sales process with the next-best-action directions from real-time alerts. And with advanced analytics tools, you can make data-driven decisions to increase revenue without wasting time on manual tasks like managing emails or spreadsheets.
Price: Available on request
Pros:
- Easy to use and work with
- Analytics and insights powered by artificial intelligence
- Cover the full sales cycle from getting the first touch to closing and upselling
- Supports several features like revenue signals, deal guidance, team analytics, and more.
Cons:
- Free plan isn’t available.
Now you’ve known the top revenue operations software. Let’s move to the next section to find out the key features you should consider so that you can choose the right platform for your business.
Facilitate your revenue operations
process with Revenue Grid
Main Revenue Operations Software Features
1. Automated Lead Follow-up
You can set up automated email campaigns to keep in touch with leads who are not yet ready to buy. This helps keep your brand top-of-mind with prospects until they’re ready to buy from you.
2. Lead Scoring
Lead scoring lets you prioritize leads based on their interest in your product or service, which helps you focus on the most promising leads first.
3. Customer Relationship Management (CRM)
Leads can be integrated with a CRM platform, so you have accurate customer information at your fingertips when you need it most — during the sales process. It also allows you to track performance metrics such as conversion rates and average deal size over time to improve your sales process.
4. Automated Reporting
Support automated, real-time reports so that key metrics are available whenever you need them without wasting time manually generating them. This frees up your valuable time for other activities such as sales outreach or marketing campaigns.
5. Forecasting Capabilities
Forecasting capabilities within revenue operations software allow you to predict future demand based on past performance metrics. It helps you forecast pipeline velocity by tracking sales activities and forecasting future sales opportunities. Hence, you can identify the gaps between what you’re doing and what you should be doing.
Start Using Revenue Operations Software
Revenue operations software is a powerful platform for increasing your organization’s revenue. With this technology in place, you can easily track revenue performance and make informed decisions about how best to allocate resources, who should handle which customers, and the best strategies for closing deals.
Ready to use revenue operations software? Sign up here for a 14-day free trial of Revenue Grid.
