CLIENT

  • $300M provider of mature systems software and database solutions, comprising numerous acquired products

SITUATION

  • Company core value proposition is to buy older software products with a long tail of customers who rely on software support versus migrating to new technology
  • Client wanted to simplify and harmonize disparate support offerings to strengthen customer satisfaction and drive revenue retention and cross-sell for installed base

ACTIONS

Waterstone developed standardized, improved Support offers, processes and controls and to increase customer satisfaction, retention and cross-sell.

  • Conducted analysis of support tickets for root causes and customer distribution and of cancellation reasons
  • Performed granular renewal analysis by product and customer segment compared with industry benchmarks
  • Obtained voice of market input via 30+ 1:1 interview and 300+ respondent survey
  • Completed operational and financial assessment of multiple support elements (e.g., help desk hours, updated frequency)
  • Standardized offers and add-ons across product portfolio to drive consistent customer experience
  • Established standard processes and controls for price increases, multi-year contracts, attrition avoidance and reinstatements
  • Developed no-, low-, and high-touch renewals process and customer segmentation
  • Developed centralized, dual role renewals team with fixed and leveraged comp models

RESULTS

  • Increased retention rates and revenue through customer satisfaction improvement and consistent pricing
  • Additional upsell opportunities for sales teams
  • Reduced renewal function costs