The adoption of marketing, sales, and service technologies has enabled businesses to reach new levels of efficiency thanks to automation. But efficiency alone isn’t driving companies’ technology adoption.
Every business decision impacts company revenue either directly or indirectly. Furthermore, every function within the business has a role to play in generating revenue.
This realization is beginning to take hold across industries, and widespread adoption of the revenue operations (RevOps) discipline is the result.
RevOps in 2021
RevOps is an operational model that aligns every department within the business to help generate revenue and ensure everyone is taking responsibility for the customer experience. RevOps is made possible using integrated technologies like cloud-based software, apps, and databases. These allow each department to share data, communicate, and work with each other toward common goals.
Over the past year, RevOps became a primary driver of business and technology decisions among companies both large and small.
Here’s a review of how RevOps changed in 2021.
More Companies Continue to Adopt RevOps
The popularity and importance of RevOps grew significantly in 2021. Not only did more companies adopt a RevOps model, but forecasters expect the trend to continue over the next several years.
Those companies that adopt RevOps will be in a leading marketing position compared to their counterparts as well. According to Gartner, 75% of the highest growth companies in the world will deploy a RevOps model by 2025.
“CEOs and chief sales officers recognize that functional silos handing off clients from one function to the other and using different technologies, people, and processes, are a barrier to revenue growth,” said Doug Bushée, senior director analyst in the Gartner Sales practice. “As a result, progressive organizations are beginning to align sales, marketing, and customer success technology, data, and KPIs to provide an end-to-end view of the revenue-generating engine. The shift to a more end-to-end revenue operations view means enablement leaders should provide enablement support not only to the frontline sales force but to other revenue generation roles found in marketing, sales and customer success.”
More companies are realizing that every aspect of the business must contribute to revenue growth. But to achieve this, they must eliminate all barriers between their departments, both in terms of data and internal processes.
Demand for RevOps Professionals Continues to Increase
RevOps may have begun as a concept, but it is evolving into a fully developed discipline. It isn’t uncommon to see positions at companies devoted specifically to RevOps. For example, you can browse any job listing site and see open positions like “VP of Revenue Operations” and “RevOps Analyst.”
According to DmandGen Report, RevOps adoption has grown as much as 55% in recent years. Most organizations were already either maintaining a RevOps function in the business or were working on building one at the start of 2021.
Positions that are specific to RevOps focus on linking the company’s systems together and building connections between departments so they can work toward revenue goals as a unit. Often, RevOps leaders themselves serve as the link between departments, working cross-functionally with service, sales, marketing, finance teams, and more.
There’s a Higher Demand for Integrated Technology
The sense of urgency to adopt a RevOps framework has created a higher demand for integrated business technologies. Tools like customer relationship management (CRM) platforms, enterprise resource planning (ERP) solutions, communication tools, accounting tools, and others are now essential for most businesses to compete in the marketplace.
Cloud-based tools, subscription services, and technology partnerships are more in-demand than ever as well. More importantly, companies are searching for tools that can integrate. This way, they can form a cohesive platform that provides team members access to a data stream that spans the entire organization, regardless of which function they occupy in the business.
“No firm can go it alone anymore. Instead, we see industry cloud platforms evolving into a firmament for ecosystem growth,” says Forrester. “Low code, API management, software-as-a-service digital business, and marketplaces are examples of new platforms. These are also creating new partnership opportunities.”
Master RevOps with Aptitude 8
Aptitude 8 helps businesses integrate their disparate technologies to and bridge their departments for end-to-end revenue operations. If you’re struggling with siloed data solutions or your teams aren’t working effectively toward revenue growth, you could be ready for a RevOps overhaul.
Contact Aptitude 8 today to find out how you can master RevOps and start growing your business.