The ability to maximize revenue growth of any offering depends on the processes in place to support that offering. For solution providers, this is especially relevant for annuity and contract management. Annuity management is a profitable growth area, however, it can be a chaotic undertaking with increasing complexity as the business grows.
However, annuity agreement management is often approached with little regard to all three of those components. A common approach is to address the challenge with people, but with little regard to process and tools. As the business grows, the volume and complexity of the agreements quickly overwhelm a company’s ability to address the problem solely from a manpower perspective.