In this fast-paced market space, it takes smart spending and strategic investment in GTM strategies to stay in the game. But as your RevOps team is working hard to build revenue, looking at ways to reduce overhead costs is another way to strengthen your company. One thing that often gets overlooked is your software.
Your RevOps team should operate using a single platform that streamlines access to data yet also provides specialized functionalities across departments. If teams use their own, it’s costing you more than you realize. Experts estimate that some tech teams can devote up to 75 percent of their IT development budget to maintenance, and companies using legacy systems can expect a yearly 15 percent budget increase. Plus, maintenance costs continue to increase.
The answer is to consolidate all your disparate systems into one cohesive platform. By doing so, companies can reap many benefits, including reduced software, infrastructure, and integration costs; greater efficiency and resource allocation; and more negotiation power.
Reduced Software Costs
How many applications and software subscriptions are you paying for? If you’re like most enterprise companies, you’re likely carrying the financial burden for 664 applications on average, and many are limited to a single department. Instead of purchasing and maintaining multiple software solutions for marketing, sales, customer service, and analytics separately, using a single platform often means lower licensing fees and subscription costs.
Lower IT Infrastructure Expenses
Managing and integrating multiple software systems can strain IT resources and infrastructure. By standardizing on a single platform, companies can streamline IT operations, reduce the need for complex integrations, and optimize hardware and software investments, resulting in lower maintenance and support costs.
Minimized Integration Costs
Integrating multiple standalone systems across departments can be complex and costly. Using various software solutions often requires investments in custom development, middleware, and ongoing maintenance.
Using a single SaaS system with built-in integration capabilities, companies can reduce the need for custom development or third-party integration tools. This simplification lowers integration costs and minimizes ongoing data management overhead.
Improved Operational Efficiency
Let’s get back to basics. RevOps combines sales, marketing, finance, operations, and customer success teams under the same umbrella. The goal is to streamline operations and ensure that teams are working together toward Go-to-Market.
And it works. Studies show that when companies are aligned, they experience revenue growth 58 percent faster and are 72 percent more profitable than those that are siloed.
However, RevOps isn’t possible when, say, the sales team is using its own set of spreadsheets to track data while marketing is using another application entirely, all while customer success is trying to keep track of accounts using a devastatingly slow and inaccurate combination of both.
A recent study shows that inaccurate data gathering, along with the lack of a proven data collection tool or methodology, accounted for 37 percent of project failures.
A unified platform streamlines workflows and processes across departments, eliminating redundant tasks and manual data entry. This improved operational efficiency not only saves time but also reduces the risk of errors and rework, ultimately leading to cost savings in resources.
Optimized Resource Allocation
Speaking of resources, instead of spreading budget and manpower across multiple solutions, organizations can focus their investments on maximizing the value derived from a single, comprehensive platform tailored to their GTM needs.
Better Negotiation Power
Data from Gartner show that 60 percent of organizations work with more than 1,000 third parties. But, think for a moment about the power of one. By consolidating software purchases with a single vendor, companies may gain greater leverage in negotiations, leading to favorable pricing, discounts, or bundled offerings.
Additionally, long-term partnerships with a single vendor can result in preferential treatment, such as access to exclusive features or dedicated support, further enhancing the value proposition. From a security perspective, limiting the number of vendors that have access to your data reduces the risks of breach.
Overall, using a single software platform for GTM can result in substantial cost savings by streamlining operations, optimizing resource utilization, and minimizing the total cost of ownership associated with managing disparate software solutions.
Here’s more good news. Using a centralized platform doesn’t mean that teams must abandon their specialized processes. A platform like Fullcast caters to every team’s focus and function. Our Go-to-Market platform with automated back-office sales functions simplifies essential tasks and aligns with marketing for consistent messaging.
For measurable cost savings, don’t blast employee bonuses or abolish the weekly morning bagels. Instead, build new GTM strategies using a single platform to reduce integration and infrastructure costs, leverage resources, and empower your RevOps teams.
