Revenue operations is a system for managing the collection, processing, and reporting of revenue from customers. Revenue operations have been a growing industry over the last few years as companies are realizing that they need to track their sales to become more profitable. Companies need to have an efficient revenue operations team in place because it can help improve their overall productivity and profitability.
What are revenue operations?
Revenue operations is a process that combines revenue management and revenue operations management. Revenue operations is a business function, meaning it’s not limited to any one department—its responsibilities fall across the entire organization.
Revenue operations are primarily concerned with managing sales statistics, forecasts, sales quotas, and other factors related to bringing in revenue for your company. This includes ensuring you have enough money in the bank to meet payroll obligations or pay for any necessary expenses during the month/week/day.