RevOps, or Revenue Operations, is a discipline that focuses on aligning and streamlining sales processes to optimize revenue. RevOps brings with it a suite of tools that help marketing teams manage their pipeline, forecast demand, and track performance. In addition, the discipline also provides a variety of reports and dashboards to help businesses monitor their progress and identify areas for improvement.
What are the Top Features of RevOps?
- Pipeline management: RevOps offers tools to manage sales pipelines. Salespeople can find where the leads are stuck in the process and identify potential bottlenecks. There are various tools, such as Salesforce Lead Management, that can help you learn in detail about the position of your sales pipeline.
- Demand forecasting: Tools that come with a suite of RevOps use historical data to predict future demand for products and services. This helps businesses plan for the upcoming demand increase.
- Performance tracking: RevOps also offers a variety of reports that allow businesses to track their performance and identify areas for improvement.
- Effortless integration: The best feature of RevOps tools is that they can be seamlessly integrated with your CRMs and other tools in your marketing ecosystem.
What Are the Top RevOps Tools?
There are a number of RevTech tools that can help businesses implement RevOps. The following tools help sales and marketing teams to automate tasks, collect data, and analyze data.
WeFlow is a go-to solution for revenue operations managers looking to improve their CRM data quality, forecasting accuracy, and adherence to sales processes. The tool also allows teams to automatically capture data with features like activity tracking and email logging. Various templates, alerts, and automation features help sales reps and AEs to adhere to the pre-decided sales processes.
Gong is a revenue intelligence software that improves the functioning of sales teams by leveraging AI and machine learning. The high-end capabilities of the tool transcribes, analyzes, and uncovers rare insights on sales calls and meetings. Modern sales teams can use the tool to identify the best talk tracks, optimize sales pitches, and close more deals.
InsightSquared is a revenue forecasting tool that helps sales and marketing teams with insights on customer behavior, financial trends, product performance, and other key indicators in real-time. Some of the key features of this platform are revenue and sales forecasting, ad-hoc reporting, RevOps dashboards, and so on.
It is a robust tool for revenue attribution and offers users to understand customer behavior through advanced analytics. The tool helps marketing teams to optimize campaigns for better performance and revenue growth. Sales teams can identify the kind of content their prospects are consuming and pinpoint the accounts showcasing their purchase intents. Some key features are revenue analytics, performance attribution, and customer journey tracking.
The last one on our list is Fullcast.io, which is an end-to-end platform that links the market planning process to CRM data in real-time. Some of the notable features of the tool are offering industry data hierarchy, targets and quotas, and intelligent scenario modelling.
How Do RevOps and SalesOps Differ?
RevOps and SalesOps share some similarities, but there are also some key differences between the two.
- Purpose and goals: While both disciplines focus on improving revenue operations, the purpose and goals for each of them are different. Sales Ops focuses on the operations management of only the sales department, while RevOps teams work with sales, marketing, finance, and customer success operations.
- Organizational structure: The organizational structure of SalesOps is simple and straightforward as they are always aligned with sales. Alternatively, a revenue operations team is structured in a complex way. The RevOps team needs to connect with sales teams, finance teams, customer success teams, and marketing teams. RevOps is a team that sits above all the other teams coordinating with all the tasks to achieve the end goals.
- Areas of focus: The key areas of focus are also different for SalesOps and RevOps. SalesOps has its focus on internal work, such as data, processes, team communication, and more. The major focus is on simplifying the tasks of sales teams.
On the other hand, the revenue operations team works to create a direct impact on the customer. Your customers are likely to experience change in their journey once you bring in a RevOps team.
While RevOps is relatively a new discipline as compared to SalesOps but in recent years, RevOps has grown by 55%. RevOps has become popular too soon because it is an open-source platform ready to improve the operations of any business ready to embrace its potential. The features it brings can help to improve business communication, task management, and other aspects of business.