Renewal Data or Opportunity Data Issues

krishna.reddy20072000 · 2023-09-08T14:30:09+00:00

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krishna.reddy20072000

Hello there,

How many of you faced issues with opportunity data in your organization? Did you really check why teams are creating issues in opportunity data? How did you resolve the opportunity data issues? Would you be interested in having a short conversation on this?

Thanks in advance.

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Comments

Elizabeth Italiano

Is the sales team running the renewals? This sounds like it could be an operation or a data issue. Ideally, once a sale is closed a renewal opportunity gets created in the CRM for the renewal date so then the renewal pipeline can be tracked and managed the closer the renewal comes. The value of a renewal could change if there was a price uplift component to the renewal or an expansion opportunity. Everyone needs to handle these the same way to ensure good data hygiene. These are ops and process issues you need to work with your ops team on. Or as others have stated, it could be a data issue deriving from your tech stack. I've CRM, billing, BI, and finance software have conflicting data. Agreeing on the source of truth and integrating data properly is important.

Unfortunately, it's not a straightforward answer but I'd start talking with whoever runs your ops and data to start doing root cause analysis.

Chad Horenfeldt

When this happens I work with our ops team to determine how to prevent it. It could be a data entry issue or a tech issue. Lots of systems plug into the CRM and anything can impact existing processes. Having a regular meeting with ops makes this easier.

krishna.reddy20072000

Thanks, Doug. Yes this is what I was asking. Curious to know the root causes for those inaccurate info? Is it because of Sales team or because of tech stock?

Doug Havlik

I might follow what you are asking, but let me see. We have a Power BI report on year-to-date and month-over-month net revenue retention which relies on several data fields from Deals aka Opportunities in HubSpot/ChurnZero. For example, we have fields for the start and end date of each subscription. Sometimes those fields are inaccurate which throws our NRR calculation off. Is that the sort of thing you are asking about?