How to Get CFOs in Product Companies to Fall in Love with Professional Services

Posted by Varun Parmar on 7/20/17 5:00 AM

For many product companies, it can seem difficult at first to get CFOs to see the value in professional services (PS). The simple answer to addressing this challenge is to focus your PS business on profit margin growth. Only when margins are great, should you focus on revenue growth.

As a PS executive in a product company, you probably are all too familiar with this reality. Valuation multiples for PS revenues are 1x to 2x compared to 8x to 10x for product revenues. So, CFOs are not interested in PS revenue growth, but what matters to them is earnings contribution of PS business. The current trend of optimizing PS business through headcount reduction and expansion of partner-led implementations is a direct result of CFOs desire to increase earnings contribution of PS business.

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Topics: professional services, TSIA Partners

Tech Solutions Providers: Get Your Brand Seen by Hundreds Potential Customers at TSW

Posted by Tom Anderson on 7/19/17 5:00 AM

If you’re a technology provider, Technology Services World conferences are the best place to share your products and services with the industry’s top decision makers. We’re announcing a last call for companies to exhibit in the TSW | EXPO, where you’ll have an unparalleled opportunity to reach an audience of over 1,800 tech professionals looking for the right solution to help them solve their biggest business challenges.

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Topics: Technology Services World Conference

How Suppliers Benefit from Maximizing Their Recurring Revenues

Posted by J.B. Wood on 7/18/17 5:00 AM

Lately I have been blogging about why vendors in high tech, industrial automation, medical equipment and other market sectors are moving rapidly toward subscription-based offers. In the first two blogs of this series based on my infographic,“Navigating the World of Recurring Revenues,” I focused on the perspective of the end customer: what they like and what they don’t like about subscriptions. It’s clear from today’s market trends that many customers find compelling reasons to consume technology as a subscription-based service. Sales are growing at a much faster rate than for traditional CapEx offers.

But is this a better model for the vendors? In the next two posts, I will explore this question in more detail starting with the good news about why recurring revenues are such a hot topic in many board rooms.

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Topics: cloud, The Recurring Revenue Journey

Rethinking the Sales Funnel for Existing Customers

Posted by Steve Frost on 7/14/17 5:00 AM

This fall, TSIA will be digging deep into the topic of the Art and Science of the Customer Journey at our annual Technology Services World conference in Las Vegas. To introduce this theme, the rest of the TSIA research team and I will be sharing our thoughts on how it relates to our specific area of research, which in my case is expand selling. In this entry, I’ll be sharing a look at the journey from lead to closed deal for new opportunities with existing customers, how this process is different than it is for new customers, and why Services touchpoints have to be accounted for in the process.

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Topics: technology services, sales, expand selling, marketing, sales costs, Art and Science of the Customer Journey

5 Key Themes Impacting Healthcare Technology

Posted by Vele Galovski on 7/13/17 5:00 AM

While the healthcare technology industry is still relatively strong, we’re seeing many of the same trends crop up that have drastically impacted other industries, mainly enterprise IT and industrial equipment. It all starts with the slowing down of CapEx revenue as new product feature innovations take a backseat to value realization. Suddenly, the business model that was built on high growth rates and high profitability needs to adapt to be in the business of delivering outcomes, not just products and services. 

However, with the rise of economic buyers and value-based care in the healthcare industry, there’s an opportunity to reverse these trends by creating new service offers. With that in mind, here are the top business challenges impacting the healthcare technology industry and the 5 key themes TSIA has observed during regular conversations with our membership community. 

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Topics: healthcare, internet of things (IoT), LAER, HHIT, smart, connected products, healthcare technology

Catch Up on Top Technology Spending Trends for 2017 [SlideShare]

Posted by Nicole Dornsife on 7/11/17 5:00 AM

TSIA’s annual Technology Spending reports closely examine technology and services trends that are making the biggest impact on businesses across the industry. View this SlideShare to get 3 highlights from all 8 of these reports, which cover our research areas of Customer Success, Education Services, Expand Selling, Field Services, Managed Services, Professional Services, Service Revenue Generation, and Support Services.

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Topics: customer success, education services, managed services, support services, service revenue generation, professional services, field services, expand selling, slideshare, TSIA Research

[Video] See Why Tech Professionals Love TSW Conferences

Posted by Tom Anderson on 7/7/17 5:00 AM

With the technology industry facing drastic changes, tech professionals worldwide know they can come to Technology Services World conferences to get the latest best practices and proven tips for growing their business and staying profitable. Watch this video clip to see why attendees love TSW and hear from TSIA’s president and CEO, J.B. Wood, explain the concept behind the theme for our upcoming fall conference, “Art and Science of the Customer Journey.”

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Topics: video, Technology Services World Conference

TSIA Service Trends Webinar Roundup: Summer Edition

Posted by Nicole Dornsife on 7/6/17 5:00 AM

At TSIA, we are dedicated to helping technology services organizations of all sizes stay on top of the latest best practices for growing and advancing their business. Our 30-minute TSIA public webinars are a great way to hear directly from our research team about how emerging industry trends are affecting their respective service discipline, and what you can do to stay current. Here's a recap of this summer’s webinars in case you missed them!  

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Topics: customer success, education services, managed services, support services, professional services, field services, expand selling, webinars

3 Sales Tips for Selling Customer Value

Posted by Glenn Gramling on 7/5/17 5:00 AM

Increasingly, technology products that are merely “good enough” are permeating the market. Clients are not looking for perfection and accept the limitations of a lower-cost product. Software allows these good enough products to be enhanced over time, with new features being delivered through software updates that can make a product more valuable.

After researching several large hardware providers, we discovered that a large percentage of their monthly sales were either fulfillment or products, while only a small percentage of their monthly sales were high-margin solutions that included high-value services. Every manufacturer would like to improve their percentage of high-margin products and services, so, why don’t Sales teams sell more high-value solutions to solve the business problems of their customers?

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Topics: sales, customer outcomes, TSIA Partners, outcomes

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