SOURCE: Scout Analytics

Scout Analytics

September 18, 2013 08:00 ET

Scout Analytics Unveils the Subscription Economy's First Recurring Revenue Management Suite for the Entire Enterprise

Scout Suite Harnesses Customer Usage Data and Predictive Analytics to Help Sales, Marketing, Customer Success, Product and Finance Teams Increase Recurring Revenue by 10-15%

SEATTLE, WA--(Marketwired - Sep 18, 2013) - Scout® Analytics, the leading provider of recurring revenue management solutions, today introduced Scout Suite, the first enterprise-wide solution that allows sales, marketing, customer success, product management, and finance teams to harness customer engagement data to increase recurring revenue by 10-15%. Built on the Scout Platform, Scout Suite integrates role specific solutions into one cohesive recurring revenue management suite -- and also features two entirely new applications, Scout Marketing and Scout Finance.

Gartner predicts that by 2015, 35% of Global 2000 companies will generate revenue through subscription services and revenue models. This change to a new recurring revenue model is known as the Subscription Economy, where customers would rather pay to use than pay to own products. As a result, businesses must invest in both customer acquisition and customer retention, with an emphasis on increasing customer lifetime value. However, in this new paradigm, most businesses do not have the proper data or insights to positively impact customer retention -- resulting in upwards of $40 billion in missed revenue opportunities each year.

Scout Suite leverages customer data, predictive analytics and automation features to empower customer-facing departments across the organization. Each application within the suite leverages Scout Link to integrate usage data with all other sources of customer engagement data -- including account details, marketing campaigns or business intelligence to give a complete 360-degree view for each customer, subscription, and user. Other features include:

Scout Sales

  • Predicts Up-Sells, Cross-Sells, and Trial Conversions: Scout Sales classifies each subscription as an up-sell, cross-sell, retention risk or trial conversion, along with pricing recommendations and background data to improve forecasting, negotiating and quoting.
  • Automates Account Management Tasks: Renewal Playbooks analyzes customer status at renewal, and suggests closing strategies to simplify account planning. Retention Playbooks notifies customer success, support and other organizations when their assistance is needed, and manages escalations. Compliance Playbooks identifies compliance issues for up-sell opportunities. Cross-Sell Playbooks identifies cross-sell affinities based on actual customer usage. Trial Playbooks flags prospects most likely to become paying customers.

Scout Customer Success

  • Predicts Retention Risks: Scout Customer Success classifies each subscription owned by a customer on likeliness to churn along with reasons for the risks.
  • Automates Customer Communications and Assistance: On-Boarding Playbooks automates provisioning, user notifications and reminders, milestone monitoring and issue alerting. Adoption Playbooks automates user feature discovery and training targeting. Retention Playbooks monitors and alerts on predicted churn, automating remediation at the user level while orchestrating tasks at the account level. Additional Playbooks for nurturing, compliance, and operational excellence are included as part of Scout Customer Success.

Scout Product Management

  • Predicts Pricing Parameters: Scout Product Management predicts customer usage and revenue yield by rate plan, feature, and customer segmentation.
  • Automates Rate Plan Analysis, Product Planning and Performance Reporting: Rate Plan Analyzer ranks each rate plan on churn, up-sell potential, revenue yield and customer demand. Revenue Contribution Analyzer breaks down revenue contribution by feature to optimize packaging and product investment. Product Planning Playbooks automates user communications to collect feedback from the right users on the right features. Performance Reporting tracks impact to revenue, churn, and demand based on changes in rate plans.

Scout Marketing

  • Predicts Conversions: Using predictive analytics, Scout Marketing identifies trials most likely to convert to paid subscriptions, cross-sell affinities and customer advocates.
  • Automate Campaign Targeting: Trial Playbooks automates monitoring and nurturing of trials and alerts marketing automation or sales personnel when a prospect is most likely to convert to a paying customer. Cross-Sell Playbooks provides next-best-offer recommendations based on actual customer usage to increase revenues. Advocate Playbooks monitor and nurture power users to become customer advocates. Playbook Performance Tracker provides daily insights into performance of each set of campaigns.

Scout Finance

  • Predicts Renewal Parameters: Using predictive analytics, Scout Finance classifies each renewal as an up-sell, cross-sell or retention risk, including the anticipated renewal price to identify operational risks and opportunities.
  • Automates Usage Charging: Usage Charging Playbooks automates the mediation and aggregation of usage data to match charge items to each customer's invoice. Notification Playbooks provides customers with proactive communication regarding usage charge limits, up-coming renewals and utilization.
  • Performance Tracking: Renewal Performance Tracker provides daily insights into revenue performance by product, rate plan, customer segment and department. Playbook Performance Tracker provides daily insights into operational performance by department, process and employee.

"The economics and health of the customer relationship are critical to success in the Subscription Economy. As a result, customer retention and customer lifetime value are key metrics for predicting recurring revenue, but are not the responsibility of any one silo within an organization," said Matthew Shanahan, senior vice president of strategy for Scout Analytics. "Scout Suite empowers teams across the enterprise, including sales, marketing, customer success, product management and finance, with turn-key predictive analytics and automation features to ensure customer success and increase recurring revenue by 10-15%."

Scout Analytics also today announced Scout Playbooks, the industry's first customer engagement orchestration solution for recurring revenue businesses to lower the cost of revenue retention and growth, and maximize customer lifetime value.

About Scout Analytics™
Scout Analytics is the leading provider of cloud-based recurring revenue management solutions. Our solutions are designed to reduce customer and revenue churn, increase renewal revenue yield, optimize rate plan performance, and maximize marketing conversions. With over 120 customers, Scout Analytics is proven to increase annual recurring revenues by 10-15%. Scout Analytics is currently delivering recurring revenue management solutions across multiple industries including information services, SaaS, and digital media. The venture-backed company is based in Issaquah, Washington. To learn more about Scout Analytics, visit www.scoutanalytics.com or call 425.649.1100. 

Contact Information

  • Contact:
    Katharine Kemp
    Barokas PR for Scout Analytics
    Email Contact
    206-264-8220