$10 million in found revenue
A global software company identified millions in revenue opportunities by combining customer licensing and software usage data.
Customer’s challenge: To capture lost renewal and up sell revenue by:
• Identifying non-compliant customers who were using backup software and support services more than they are entitled.
• Reverse decreasing customer retention rates caused by difficulty in identifying expired and expiring contracts.
• Developing a better understanding size of customer data being backup up by its software.
QBIX Analytics’ solution: To provide visibility of new and existing revenue opportunities by:
• Identifying and cleaning existing datasets that could be used to address the problem.
• Blending telemetry and licensing data within a single database, using updated customer and license definitions to join the datasets.
• Development of analytics dashboard report to bring together data elements and highlight opportunities. Impact on customer’s business: With new insights into software licensing and usage data, Veritas was able to:
• Identify approximately $10 million in renewal and upsell opportunities from existing customers.
• Provide salespeople with information necessary to easily follow up and secure new orders.
• Request that newly identified customers whose support had lapsed renew their contracts.
Customer’s challenge: Capture lost renewal and upsell opportunities
With expanding global sales of its flagship backup products, a lack of synchronization between the company’s licensing and customer telemetry data was preventing the company from capitalizing on renewal and upsell opportunities. Additionally, the company was becoming increasingly vulnerable to use of its products for which they weren’t being fully compensated.
Data returned by on-premise installations of its backup software contained valuable information about how extensively customers were using the applications. And the data in their install base and licensing databases contained important information about what customers were entitled to use along with when their license or support contracts were due to renew.
Without an effective method of combining these datasets, revenue opportunities were being lost. The problem was not that the data didn’t exist; it simply took too long and too much manpower to use the data effectively
QBIX Analytics’ Solution: Improve visibility to upcoming renewals and overuse of product
Having worked with our customer for over a year, QBIX began the project with a deep understanding of their customer’s needs and existing infrastructure.
Meeting with the customer’s licensing and telemetry teams, QBIX was able to recommend which datasets would be most effective in finding revenue opportunities. QBIX then worked with each team to develop processes to clean the data and create relationships between each dataset.
QBIX then helped implement a staging database in which to store and blend licensing and telemetry data and develop processes to extract, transform, and load the data into the database.
With clean, integrated data in place, QBIX developed a Tableau workbook to provide the insights necessary to locate revenue opportunities. These insights were centralized by deploying the workbook to a Tableau Server, to which all necessary teams were given access.
Impact on customer’s business: Discovery of $10 million in missed revenue opportunity
With a new window into their data and the insights provided, our customer found $10 million in additional potential revenue that would have otherwise gone unnoticed. The new opportunities consisted of customers actively using the product with expired licenses and others backing up more data than their licenses permitted.
The impact extended beyond just identifying new leads. By combining telemetry and license data, salespeople were provided much more information about the customer than before. They could now be armed with how their customers were using the products, now just what they were using. With this knowledge, a salesperson could now recommend a combination of software and services that best fit their customer’s needs.