The transition to a subscription-based business model has been desirable well before coronavirus and the economic downturn. Consumers, whether under shelter-in-place orders or not, have significantly ramped up their subscription spend.
The primary draw for organizations to transition to a subscription-based business model is to protect themselves with a steady, recurring revenue stream while meeting the growing demands of their market amidst uncertainty. Although some organizations are seeing a dip in sales across physical products or ad revenue, they are seeing their subscription-based business make up for those declines.
Subscription-based business model
Many organizations are using the current environment to accelerate their transition to a subscription-based business model. From tech companies to professional services organizations, we are seeing an increase in creativity, openness to transform, and an “all hands on deck” approach to driving this transition from the C-Level on down. Microsoft’s CEO stated, “…we have seen two years’ worth of digital transformation in two months.”
The true test of the subscription-based business model will come as restrictions are lifted, life establishes a new “normal”, and consumers begin to feel more comfortable leaving their homes. As that process slowly begins to take place, organizations must be prepared with the right information and business processes to adapt, keep a close track on renewals, and prepare to engage these customers in a different way.
This transition, however, happens across people, process, and technology. At Neocol, we help subscription businesses scale and grow. This has been our focus and we bring 16 years of best-practices, thought-leadership, and technology “know-how” to enable the success of transitions to subscription-based business models.
From unifying Sales & Finance through zero-touch contract management to reusable templates and repeatable integration techniques, Neocol has successfully partnered with Sales, Finance, and IT functions. Through functional domain expertise and best-in-class subscription management systems implementation (Salesforce CPQ & Billing) and integrations, this transition is more than possible.
To hear how we’ve helped companies scale and grow through this transition, before and since coronavirus, please reach out. We’d be happy to share more.
Proactively Prevent Churn 
Prevent customers from canceling or decreasing their subscriptions and related services.
Fuel Product-Led Growth
Position products as the main drivers of customer acquisition, activation, satisfaction, retention, and scalable expansion.
Quote w/ Speed, Accuracy,
& Control
Scale your business with essential controls, accuracy, and flexibility that drive top-line revenue.
Ignite Partner Relationship
Management
Unleash your partner network to
enable growth and provide world-
class service to your customers.
Best-In-Class CX Customer
Experience
Deliver personalized experiences to customers through innovative marketing, sales, service, and engagement strategies.
Unlock Efficient Self-Service
Drive efficiency, reduce costs, and make it easier for your customers to do business with you at any point of their journey.
Automate Revenue
Recognition
Eliminate manual worksheet-driven processes by creating a fully automated, common source of truth.
Harvest Game-Changing
Intelligence & Data
Leverage data and AI across your business to optimize your operating model, supercharge performance, and make informed decisions.
Streamline Billing
& Collections
Automate invoice generation and contract updates to drive efficiencies.
Drive profitable top-line growth selling through your partners
Meet your customers where they want to be met
Simplify the complexity and strain around evolving revenue recognition mandates
Delight your customers by enabling a simple, easy-to-use payments page
