A new report by Conga, in partnership with Ascend2 Research, reveals that 97% of executives feel urgent pressure to maximize revenue in the next two years—or risk severe financial consequences. Titled “The Revenue Imperative: Overcoming Efficiencies to Maximize Growth,” the study highlights challenges like revenue leakage, operational inefficiencies, and the growing role of AI in solving these issues.
The Revenue Crisis: Why Every Dollar Counts
The survey of 600+ business leaders across the U.S. and U.K. found that 100% agree that understanding the entire revenue lifecycle—from sales to renewals—is critical. Yet, 46% lack confidence in capturing all revenue opportunities.
Key consequences of poor revenue management include:
– 50% face higher operational costs
– 43% miss revenue opportunities
– 35% suffer revenue leakage
Noel Goggin, CEO of Conga, warns: “Inefficient revenue processes aren’t just slowing operations—they’re hindering growth and impacting the entire organization.”
Maximize Revenue: Data Silos Are Killing Growth—Integration Is the Fix
The biggest barriers to maximizing revenue include:
– 45%: Time-consuming manual tasks
– 34%: Difficulty integrating data
– 32%: Compliance risks
Companies with fully integrated systems are 2.5X more confident in capturing revenue. Those with aligned sales and finance data see 4X higher confidence in revenue management.
Maximize Revenue: AI’s Untapped Potential in Revenue Growth
While 87% trust AI’s reliability, only 25% use it for revenue processes. However, 66% of non-adopters plan to implement AI within a year.
Key insights:
– Top-performing teams prioritize AI adoption (48% vs. 34% of others).
– The U.K. leads AI adoption (33%), compared to the U.S. (21%), but 54% of U.S. firms plan to adopt AI soon.
The Path Forward: Automation and Efficiency
Conga’s Maturity Model highlights document management (88% priority) as a critical area for AI automation. Reducing manual tasks—like contract approvals—could significantly maximize revenue efficiency.
With 97% of executives under pressure, integrating systems and adopting AI are no longer optional. Businesses that act now will secure profitability despite economic turbulence.
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