- Case study
Revenue-boosting contract management for a cloud computing firm
Here's how Genpact unearthed nearly $50 million in leakage for one as-a-service provider
A cloud computing company with a digital workflow service that creates great experiences and unlocks productivity for Fortune 500 clients
To prevent revenue leakage and churn by simplifying and clarifying an overly complex and diverse customer contract landscape
We digitized forms, scrubbed and organized the firm's data, executed a well-designed customer experience strategy, and proposed additional ways to cut leakage and churn
A crystal-clear picture of its customer contract environment thanks to vastly improved data quality that plugged big holes causing leakage and reduced churn
Our client had grown quickly, impressively, and broadly. It held more than 28,000 contracts for software running on one server used by multiple sources – so-called instance contracts. In addition, it had over 10,000 contracts with monthly-usage customers and another 30,000+ customers with subscriptions.
Business was good. Still, the company knew that effective, proactive contract lifecycle management is the backbone of every as-a-service enterprise. But without a map clarifying contract specifications and terminologies, its visibility into all these different contract arrangements was poor. It couldn't identify duplicate contracts or those with missing, inaccurate, or obsolete information. It didn't know where to find historical records covering customer service additions, modifications, or replacements. And as a result of these and other shortcomings, its sales team couldn't work to capacity. Clearly, to drive long-term value, it needed far better control over contract management. So for help, it turned to Enquero, a Genpact company.
Before we started the contract cleanup process, we held a series of interviews to learn exactly what the firm needed. We also watched how it operated and dug for the underlying issues – the root causes – that were hampering its progress. With this information in hand, we worked closely with all stakeholders and in just five months we:
This cloud computing enterprise is now seeing great results thanks to its teamwork with Genpact. Since our involvement, the firm is mapping 82% of its instance contracts. It also identified some 2,500 contracts causing nearly $50 million in revenue leakage and is enjoying vastly improved data quality.
But we're not stopping there. As we continue to grow this partnership, we have further plans in mind. With our help, in the near future, the cloud computing services provider can expect to reap the following additional benefits as we:
Plugging revenue leaks is just one outcome. With each kind of contract clearly mapped and identified, our client's sales team can up their performance and efficiency. They can win clients with quick quotes and reduce churn because they give customers the top-notch, speedy service they deserve – all at scale. Add to that rich, clean data driving its decision-making, and the company can anticipate another growth spurt.