Why is revenue lifecycle management important?
Revenue lifecycle management is what happens when organizations begin to look beyond the initial sale, to recognize and maximize revenue opportunities throughout the customer lifecycle. Revenue lifecycle management is important because it allows companies to optimize the value of every contract and capture incremental revenue through post-signature activities like cross-sells, upsells, renewals, and more.
True revenue lifecycle management is possible with an end-to-end software platform, like Conga’s Revenue Lifecycle Management solution. This fully integrated system allows businesses to manage, transform, and scale the complete revenue lifecycle using our powerful business automation tools:
Document generation: Conga Composer allows companies to automate the creation and management of critical business documents. It is designed to streamline document processes and build customized digital documents in a snap, from marketing materials and welcome letters to quotes, proposals, order forms, and invoices.
Configure price quote (CPQ): Conga CPQ helps companies generate quick and accurate quotes for their orders. It automates the quoting process and reduces human error by applying a preprogrammed set of rules to capture all possible product configurations, optional features, customizations, pricing models, discount structures, promotions, delivery options, payment methods, and dependencies.
Contract lifecycle management (CLM): Conga CLM is designed to optimize the end-to-end contract lifecycle by automating manual processes, eliminating repetitive manual tasks, and streamlining disjointed workflows. It allows companies to accelerate sales cycles and maximize deal value, while also mitigating risk and ensuring compliance with all applicable laws and regulations.
Contract analytics: Conga Contract Intelligence uses AI and machine learning to extract unstructured text from existing contracts and organize it into 100% accurate, structured data. It then aggregates this output into a searchable, centralized repository, where it can be leveraged to provide end-to-end contract insights, track obligations, manage opportunities, mitigate risk, and maximize revenue.