Reval Case StudyJourney from Churn Fighting to Value Delivery

February 2017

Duygu CibikChief Customer Success Officer

Agenda

• History of Customer Success at Reval

• Current state of Customer Success

• Path to 20 points uplift in renewal rate

2

3

2014-2016: Search for identity, vision and structure

2014 2015 2016 Q1

• Customer experience team

• Reports into Client Experience org with Professional Services & Client Support

• 2 team members globally

• Reactive; focused on escalations

• Relationship management team

• Reports into Sales org

• 3 team members globally

• Reactive; catch it all

• Customer success management team

• Reports into the CEO

• 5 team members globally

• Reactive; firefighting

• Reports under CCSO with Client Support

Renewal rate: 73%

NPS: -18%

4

“ Who is my single point of contact?”

“Who do I go for what?”

Clients

• No client segmentation

• Disjointed client experience

• Clients with ACV 3.5K-1 mio usd

• 50-90 accounts/CSM

• 6-11 mio usd ACV/CSM

• “Catch it all”

• Firefighting

• Different skills and experience

Reval

“ What do CSM do and not do?”

“What do AMs do and not do?”

“Who do I go for what?”

CSMs

State of confusion

5

Where are we now?

3Rs

Renewal rate

Net retention rate

Referenceability- NPS score

87%

99%

14%

6

How did we achieve this?

Defined the vision, role and values of the CSM team

Developed a tiered CSM model to optimize value delivery

Conducted rigorous analytics to identify and mitigate risks

1

2

3

7

Defined the vision, values and identity of the CSM team 1

Mission

To maximize the return our clients get from their investments with Reval leading to long term, profitable client relationships

Charter

• Identify clients’ needs and value expectations

• Create a continuous feedback loop between other functional areas and our clients to meet their needs

• Rigorously and continuously assess, quantify and improve the value clients receive from Reval

Values

3Rs

Customer centric

Solution oriented

Proactive owner

8

Clarified CSM roles & responsibilities across customer life cycle 1

Implem

entOpt

imiz

e

Cycle of success

Buy

Adopt

CSMs: • Provide references• Make client ready to renew

CSMs: • Gather & address client feedback • Manage client escalations• Hold clients accountable to their

implementation commitments

AMs: • Negotiate renewal & upsell commercials

CSMs: • Ensure users are enabled and on-boarded• Share & enable adoption of product enhancements• Gather and address client feedback; manage client escalations • Manage Change Request (CR) process internally

AMs: • Manage CR commercials

CSMs: • Conduct usage analysis

and process reviews • Deliver client trainings • Document value received• Identify upsell opportunities

AMs:• Identify and position upsell

opportunities

9

Identified and prioritized primary reasons for churn as an input to defining the CSM model

2

Client surveys Client interviews

Client support & Professional Services dashboards

10

Leveraged client sentiments to help drive change 2

Committed

Professional

Competent

Reliable

Responsive

Partnership

Friendly

Not a partner

Commercial

Challenging

Clunky

Painful

Disappointing

Frustrating

Half-hearted

Brilliant technology

Great product if you can get it to work

Best platform

Handy-everything in one place

Complicated

Not easy to use

Two separate systems, teams, not seamless

Technical-You know what you are doing, the system but you aren’t good at explaining it to us, bringing us along

Good interface

Innovative

Focused on being the leader in TRM

Helpful Supportive

Nice people

11

Developed a tiered CSM model to optimize value delivery 2

IT Leader'sExtended

Team

Large accounts

Other designated CSM

accounts

Non-CSM assigned accounts

Quarterly value reviews

Annual process reviews

Annual business reviews

Renewal & Expansion discussions

To be addressed by 1-to-many approach

12

- Why did they purchase Reval?

- What does success look like?

- What is the desired strategic outcome?

Examples for Reval:- Bank account fees

- Time to reconcile cash positions

- Time to run month end processes

- Leverage product data - Ask clients - Help them estimate it

Identify client needs and

expectations

Determine metrics to

measure success jointly with client

Quantify the change in metrics and confirm with

the client quarterly

Developed a methodology to quantify the value clients receive 2

13

Implemented a system of record to assess client health real time

3

Client 1

Client 2

Client 3

Client 4

• Most scorecard measures are automated

• CSMs are responsible for

- updating it after each client interaction

- ensuring that it is accurate for weekly CSM meetings

14

Conducted rigorous analytics to identify and mitigate renewal risks 3Risk analysis & Win/loss analysis

• Quarterly win/loss analysis

• Quarterly risk analysis 6-9 months ahead

• Goal is to act on best practices quickly through pattern recognition