Modernizing Renewals for a US-Based Healthcare SaaS Company
A US-based healthcare SaaS company struggled with poor renewals and high churn. Manual workflows for renewals, billing, and invoicing delayed customer outreach and led to errors in complex pricing scenarios involving discounts and multi-tier agreements. The company also lacked real-time visibility into Available to Renew (ATR), preventing strategic preparation and proactive engagement. Opportunities for upselling and cross-selling during the renewal process were consistently missed.
Challenges of Modernizing Renewals for a US-Based Healthcare SaaS Company
- Manual workflows causing inefficiencies and missed renewals.
- High churn rates due to lack of proactive customer engagement.
- Missed upselling and cross-selling opportunities during the renewal process.
- Lack of ATR visibility, limiting strategic preparation for renewals.
- Errors in handling complex billing and invoicing scenarios.
- Disconnected tools providing limited insights into renewal performance.
Solution of Modernizing Renewals for a US-Based Healthcare SaaS Company
TechTorch implemented the following:
- Automated Renewals: Leveraged Salesforce and Zuora to automate renewal notifications, billing, and invoicing, even in complex discount scenarios.
- ATR Visibility: Provided real-time insights into Available to Renew, enabling proactive strategies to maximize renewals.
- Revenue Growth Strategies: Integrated upsell and cross-sell opportunities into the renewal process using HubSpot and Salesforce.
- Proactive Engagement: Enabled lifecycle tracking and targeted customer engagement for improved retention.
- Centralized Data Insights: Unified data from multiple tools to provide real-time visibility into renewal performance.
- Streamlined Communication: Automated consistent and timely customer communication during the renewal cycle.
- Automated Renewals: Leveraged Salesforce and Zuora to automate renewal notifications, billing, and invoicing, even in complex discount scenarios.
Results of Modernizing Renewals for a US-Based Healthcare SaaS Company
- Higher Renewal Rates: Increased renewal success rates by 30% with automated workflows and proactive strategies.
- Reduced Churn: Achieved a 20% reduction in churn through better customer engagement and lifecycle management.
- Revenue Growth: Increased upselling and cross-selling revenue by 25% during renewals.
- Improved Efficiency: Freed up 40% of customer success and finance team resources by automating complex renewal processes.
- Better Strategic Planning: Real-time ATR visibility enabled teams to prepare and maximize renewal opportunities.
Conclusion
With TechTorch’s Renewals Modernization Accelerator, the healthcare SaaS company transformed its renewals process into a strategic revenue driver. By automating workflows, integrating upsell opportunities, and providing real-time ATR insights, TechTorch empowered the company to reduce churn, grow revenue, and streamline operations in a subscription-driven business model.
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