Enterprise - ServiceSource
Life Sciences, Healthcare And Life Sciences
Healthcare And Life Sciences
Software, hardware, and tech-based healthcare and life sciences companies that operate across geographies and business lines often face poor renewals performance on maintenance, support and subscription contracts due to:
- Core data quality issues. Information about your installed base may be maintained in multiple systems – resulting in fundamental data quality issues that hamper your ability to optimize service revenue.
- Mismatched systems. Compounding your data problems, the systems that run your business are most likely product-focused and not built to manage and optimize service revenue, which is a very different business process. We find that most of our customers are trying to manage renewals with spreadsheets. That’s right. They were managing 20% or more of their total revenue from spreadsheets.
- Limited visibility. As a result, it will be difficult to obtain an accurate and real-time view of your global renewals performance. At best, you may be able to see information related to one specific geography or business unit.
- Limited infrastructure and coverage. Operating your recurring service revenue business on an enterprise scale also requires significant infrastructure investments, such as extended language coverage, which you may be unable to make.
, Life Sciences