revenue management high channel executives tech financial
2021 State of Revenue Report: Channel management challenges the high techindustryRecently, Model N commissioned a research study to better understand howexecutives are dealing with the challenges of revenue management at high-techmanufacturing, semiconductor, and electronic component manufacturing (ECM)companies. Of the executives surveyed, 93% struggle with financial control inthe channel, and 82% consider channel-related financial compliance moredifficult than any other type of financial control.According to the results of the 2021 State of Revenue Report, companies areexperiencing 68% more revenue management moments than last year. The volume ofpricing updates, quotes, discounts, contracts, and rebates has drasticallyincreased, partly due to business growth but also because 50% of companieshave seen a rise in the number of stakeholders and channel partners. Withchannel relationships numbering well into the thousands, high tech executivesare looking for ways to capitalize on opportunities to ensure their pricing,discounting, and rebating decisions are fair, equitable, and executable acrosstheir channel ecosystems.With up to 70% of high tech revenue derived from the channel, improving allaspects of channel management – including data visibility and accuracy – issomething that high tech companies absolutely have to get right.Better revenue management is an opportunityIn high tech, 80% of high-tech manufacturing executives and 56% ofsemiconductor or ECM executives reported their industry could do better withrevenue management. And they see areas of opportunity. High tech executivesbelieve that by more effectively managing revenue activities, they could seepositive impacts on business results that extend beyond reducing revenueleakage, such as: * Financial controls and compliance (41%) * Price management and optimization (41%) * Channel management and optimization (27%)Read the 2021 State of Revenue Report for more in-depth findings on how thehigh tech industry is dealing with revenue and channel management and whereexecutives see the biggest areas for improvement.