Many channel partners still utilize an archaic spreadsheet process to manage their annuity management business.
In today’s marketplace, channel partners are seeing up to 30% of their organization's total revenue being derived from annuity-based renewals. Many partners have failed to acknowledge this shift from a product-centric to data-centric marketplace, and continue to rely on outdated business processes to properly manage this highly profitable business segment. Partners depending heavily on antiquated spreadsheet’s, CRM reminders, and/or calendars to manage their opportunity data are failing to keep up with the competition.
Establishing a dependence on supply chain partners for notification of impending annuity expirations places significant trust in those supply chain partners and their proccesses. Those processes are maintained beyond the control of the partner or it's clients, the companies that rely on them the most.
In this new data-centric marketplace, an organization's value is largely based on the accuracy and integrity of the data and the recurring revenue it generates, more so, than its ability to deliver products and services.
If you’re currently using a manual system, it may be time to look at updating to an annuity management solution.
Innovative leaders in the technology industry are rapidly adopting cloud-based management platforms to deliver a better customer experience. Specific platforms focus on the centralized management of customer data regarding assets and annuity agreements, extending the reach of a partner's value-add offering.
A comprehensive management solution provides process automation, promotes collaboration, and renders a horizontal solution for agility - supporting an end-to-end business process flow standardizing the entire customer engagement life cycle.
Channel partners that successfully evolve towards a data-centric model must implement an annuity management solution fostering lasting relationships with their customers by establishing an unparalleled, full-engaged customer experience and providing them a more efficient way to run their business.
Another option is to partner with a business specializing in asset and contract management.
ServTrax has anticipated the IT channel's shift in business initiatives. In our partnership with the most successful IT channel partners over the last 15 years, the TRAX platform has modernized our partner's business processes providing the agility to meet the demands of an ever changing marketplace.
ServTrax acknowledges the migration from a product-centric to data-centric marketplace, providing an innovative solution for the management of our partner's client data. The TRAX platform provides our partners with business intelligence, sales analytics, and business process automation delivering an exceptional customer experience for their clients.
ServTrax has established a reputation for innovation and service that separates us from our competition. ServTrax partners are growing their market share, improving business agility, and establishing a strong market differentiation.
If you want more information on how your organization can solve your customer’s complex issues with agreements, contact us at firstname.lastname@example.org.