Published on March 3rd, 2016 | by Diogo Costa0
Totango Presents New Feature to Monitor Revenue Streams
Already being the leader Customer Success platform for SaaS companies, Totango is not resting and today is bringing a new addition to its strong platform – a feature that will allow businesses to forecast, visualize, and influence renewal and upsell revenue to fuel their growth.
Revenue Center, as the new feature is called, aims to fulfill a void that affects SaaS companies: according to Totango, 50% to 70% of revenue in subscription businesses, clearly one of the most used in the SaaS niche, comes from existing customers in the form of renewals and upsells, but companies cannot visualize that revenue stream.
Totango’s new feature eliminates this issue and provides companies all the tools they need by providing essential insights about existing customers, in aspects such as the way they are spending money and how companies can increase the lifetime revenue from customers.
With Revenue Center, customer success can be managed more accurately, with the use of these features to accurately forecast renewals, upsell and churn – all this without having to leave Totango, as the tool is automatically introduced into Totango’s Customer Success platform.
About this, Maksim Ovsyannikov, Totango’s Chief Product Officer, said:
“Today, SaaS companies do not have a good way to see a complete picture of their revenue stream. Companies are still using spreadsheets and custom Salesforce objects, often pulling data from different departments, leading to a messy process and general confusion. Not only is it time and labor-intensive, it is also prone to errors. And that’s where we saw a need to automate and streamline the process with Revenue Center. Financial management is now a key aspect of customer success responsibilities and it is time that customer success platforms support this critical use case.”
Costas Vasiliou, CCO and co-founder of Schoox, shared his view on Totango’s impact on SaaS companies:
“Totango has taken a huge step forward in helping companies with a better way to forecast their recurring revenue stream and improve revenue predictability. Revenue Center has become a critical business tool in managing and running our customer operations.”