If your company is trying to grow revenue, one of the main obstacles you’re likely facing is the large amount of time you spend digitally onboarding customers. Most mid-to-large-sized companies typically take weeks or even months of calendar time to implement data integration with new business customers, and during that time, your company can’t begin billing for the services you’re providing because your customers haven’t received the value they’ve been promised. The revenue stream can’t begin to flow for your company, and each day, week, or month you wait for the process to be completed means you’ve lost the revenue you could have otherwise earned in that time.
In many business ecosystems, it’s the job of the IT teams with their data integration expertise (both on the organizational and customer fronts) to onboard complex, bi-directional streams of data. The problem is, when systems rely on traditional IT structures, it can take weeks — or even months — of calendar time to complete the onboarding process. Not only does that tie up scarce IT resources, it also consumes the IT resources of your customers because involved teams on both sides need to spend precious time on complicated mapping and coding. And it forces your business teams to wait for IT data integration experts to complete their work before they can connect to the customers.
The result? Your customers are delayed in having their data integrated and receiving the value you’ve promised them, and because your company can’t begin the billing process until onboarding is completed, your revenues are delayed, and months pass before you receive any revenue at all from your new customers.
Integrate data in just days, not weeks or months
Self-service integration speeds up the revenue cycle by allowing companies to onboard customer data feeds in just a few days instead of weeks or months. The process takes onboarding out of the hands of the IT data integration experts and puts it into the hands of business teams. With the use of AI, machine learning, and pre-built templates, those business users are able to connect with customers faster and complete the onboarding process sooner. That results in a much shorter time before the billing process can begin, and a much faster revenue stream from the customers you’ve just quickly onboarded.
Adeptia has learned from many of its customers that, thanks to our self-service process, they’ve experienced an 80 percent improvement in the speed of digital onboarding of their customers, which has been translated directly into their top-line revenue.
Do the math. If you can onboard customers two months sooner, that’s two additional months of revenue your company will realize. Now multiply that by the number of customers you can add each year. You can see why a self-service onboarding solution makes the most financial sense when your goal is to accelerate your revenue stream.