How ValueXPA's Managed Services Empowering a US-based Event Solutions SaaS Business Streamlining Salesforce and Data Migration
The Problem We solved. The client is a leading US-based Enterprise Events Solutions Business. They transitioned to a new version of Salesforce following a Techn
.png)
The Problem We solved.
The client is a leading US-based Enterprise Events Solutions Business. They transitioned to a new version of Salesforce following a Technology transformation drive. During the integration process, certain datasets were not accurately migrated, leading to the loss of important Finance fields related to various contracts. These finance fields hold significant value for the client's business, enabling them to distinguish between recurring and non-recurring income and determine appropriate commission payments for their sales executives. Given our existing Revenue Recognition Services relationship, Client needed help to structure and update the finance fields for approximately 1,500 clients in the new Salesforce system.
The client is a leading US-based Enterprise Events Solutions Business. They transitioned to a new version of Salesforce following a Technology transformation drive. During the integration process, certain datasets were not accurately migrated, leading to the loss of important Finance fields related to various contracts. These finance fields hold significant value for the client's business, enabling them to distinguish between recurring and non-recurring income and determine appropriate commission payments for their sales executives. Given our existing Revenue Recognition Services relationship, Client needed help to structure and update the finance fields for approximately 1,500 clients in the new Salesforce system.
What we Did
We began by compiling a comprehensive list of opportunities that lacked the necessary finance field information. To organize this data, we categorized the opportunities into two main groups: Renewals and Upsell opportunities. Furthermore, we collaborated closely with the Client Finance team to identify additional fields that would accurately reflect the client's revenue after restructuring.
To ensure consistency and accuracy, we developed a Standard Operating Procedure (SOP) outlining the process for updating the finance fields. This SOP served as a guide for our team, detailing the specific fields that needed to be updated. Before making any changes, we sought approval from the client to ensure alignment with their requirements.
he finances fields that were updated included essential information such as the original contract term, recurring revenue, non-recurring revenue, ACV/TCV (Annual Contract Value/Total Contract Value), Virtual support revenue, and Onsite revenue. To maintain data integrity, we implemented continuous checks throughout the updating process, ensuring that the information adhered to the established SOP and was accurate.
By following these procedures and maintaining rigorous quality control, we aimed to ensure that the finance fields were updated correctly and in line with the client's expectations.
To ensure consistency and accuracy, we developed a Standard Operating Procedure (SOP) outlining the process for updating the finance fields. This SOP served as a guide for our team, detailing the specific fields that needed to be updated. Before making any changes, we sought approval from the client to ensure alignment with their requirements.
he finances fields that were updated included essential information such as the original contract term, recurring revenue, non-recurring revenue, ACV/TCV (Annual Contract Value/Total Contract Value), Virtual support revenue, and Onsite revenue. To maintain data integrity, we implemented continuous checks throughout the updating process, ensuring that the information adhered to the established SOP and was accurate.
By following these procedures and maintaining rigorous quality control, we aimed to ensure that the finance fields were updated correctly and in line with the client's expectations.
How we created an Impact
We successfully completed the project well ahead of the designated deadline. This timely delivery provided the client with a comprehensive understanding of potential upsell or down sell opportunities in renewal revenue. Additionally, it presented them with a precise breakdown of their recurring and nonrecurring revenue streams.
By having accurate and up-to-date finance fields, the client was able to accurately allocate commissions to their salespersons without any ambiguities. Our diligent efforts in delivering this project have empowered the client to make informed business decisions and streamline their financial processes effectively.
By having accurate and up-to-date finance fields, the client was able to accurately allocate commissions to their salespersons without any ambiguities. Our diligent efforts in delivering this project have empowered the client to make informed business decisions and streamline their financial processes effectively.