How RevPartners Revamped workvivo's Revenue Data Process

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3xx

Increase in Average Revenue

100%

Deals in the System with a Detailed Line Item

100%

Accurate Data in HubSpot

Customer Info

workvivo is an employee communication platform that’s designed to facilitate communication and collaboration within organizations, with a focus on enhancing employee engagement, building a positive company culture, and fostering a sense of community among employees.

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Overview

Find out how, in 90 days, workvivo went from not trusting any of their revenue data in HubSpot to having a full historical revenue recap for every customer all time allowing them to record Net Revenue Retention and completed Due Diligence with potential investors in record time.

The Challenge

Lack of Trust in Data

workvivo faced a significant challenge as they lacked confidence in the accuracy of their deal-related data, including deal amounts.
This hindered their ability to make informed business decisions and track performance effectively.

Unstructured Deal Objects

The absence of a standardized deal category system and the omission of essential deal objects such as products and line items contributed to the disorganization of data.
This made it challenging for workvivo to analyze and report on their sales activities accurately.

Limited Pipeline Visibility

The absence of a dedicated Renewal/Upsell pipeline meant that workvivo had limited visibility into upcoming renewals, renewal conversations, and the overall performance of their renewal and upsell activities.

The Solution

Deal Category System

RevPartners introduced a structured deal category system, which included categories such as New Logo, Renewal, Upsell, Expert Services, Downsell, and Churn.
This categorization provided clarity and a standardized framework for organizing deals.

Products and Line Items

RevPartners incorporated products and line items into the deal structure, enabling workvivo to track billing start dates, billing end dates, and services with recurring and non-recurring revenue.
This added granularity to their deal data.

Renewal/Upsell Pipeline

The creation of a dedicated Renewal/Upsell pipeline in HubSpot allowed Workvivo to efficiently manage and track their renewal activities.
This included specific categories like upcoming renewals less than 180 days, 90 days, and 45 days, renewal conversations, closed won renewal, and closed lost.

Automated Data Migration

RevPartners implemented automation to copy line items from closed-won deals to the Renewal/Upsell pipeline, ensuring a continuous flow of accurate data and creating a comprehensive history of the company's renewal activities.

The Impact

Enhanced Data Trust and Accuracy

With the new deal structure and automated processes, workvivo gained confidence in their data, leading to improved trust in the information stored in HubSpot.
The 10 years of data in HubSpot became accurate and reliable.

Comprehensive Reporting and Analysis

workvivo now had the capability to analyze recurring vs. non-recurring revenue on a monthly basis, examine various line items (e.g., net new, renewal, upsell), and break down insights by months or quarters.
This empowered them to make data-driven decisions.

Increased Revenue Visibility

The implementation of a revenue category breakdown by billing month allowed workvivo to observe a 2-3x increase in average revenue since partnering with RevPartners.
They now had visibility into every revenue category and could track performance over time.

Historical Data Management

Through imports, data from spreadsheets, and manual updates, RevPartners ensured that every deal in the system had a detailed line item, updating historical records and providing insights into every customer Workvivo had ever worked with.