Software and technology executives have become familiar with uncertainty over the past few years. With the pandemic, slower spending, monumental growth, and increased demand for tech companies, ups and downs have become the norm.

The final variable revolves around issues of a recession, but there are still key tactics that will continue to position enterprise software vendors for profitable growth.

Operations such as marketing, sales, service, finance and IT have always operated in silos. This meant siled systems and data, loosely connected processes, and a lack of visibility into key metrics that drive growth and profitability. But a fast-paced, ever-changing all-as-a-service world has rendered these siled revenue-generating functions inadequate and inefficient. Data-driven business systems and models aren’t just “interesting” anymore.

Enter Revenue Operations (RevOps) – an integrated set of data and information, processes and systems intended to align an organization’s functions, facilitate emerging business models and generate revenue faster. RevOps programs have clear benefits: higher revenue, improved net retention rates (NRR), and reduced go-to-market expenses.

The vast majority (97%) of tech and software leaders are aware of RevOps, and many believe they implement it. But a recent survey of 200 senior C-suite executives reveals a more complicated and inefficient picture of defining, executing, and measuring initiatives around RevOps.

Even with 97% familiarity, the leaders surveyed showed no consensus or shared understanding as to its true definition. Many respondents described RevOps by listing individual tasks, such as data management, instead of the full set of functions it actually represents.

Additionally, the survey revealed significant issues (organizational misalignment and inability to acquire quality data) that impede the data-driven approach organizations need to generate and measure financial impact.

Successful transformation requires focus and understanding in four areas: Awareness, Maturity, Barriers, and Impact. Analysis of the survey results in each area shows where leaders are missing the mark and the next steps they need to take to get their RevOps journey back on track.

What companies are right and wrong about RevOps

Most respondents are taking steps to integrate at least some aspect of RevOps into their businesses.

Ninety-seven percent say they are at least moderately familiar with RevOps, and most say they have implemented or are implementing related initiatives around data and information, systems, processes and organization.

But leaders are struggling to define what RevOps really is. Many define RevOps as separate functions rather than a holistic initiative.

Most respondents referred to individual functions such as data management, organizational alignment, and automated decision-making, rather than a more comprehensive definition.

Securing accessible, high-quality data is the biggest hurdle with RevOps. This information is essential for determining where organizations should focus their RevOps efforts and for generating and measuring financial impact. The second most significant barrier cited by the survey is the organizational change that companies need to undertake RevOps.

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