Delivering Accurate Revenue Forecasting Through a Bespoke CRM Platform
How Red Moki built a tailored revenue tracking solution using Creatio with Mitra AI
About University of Exeter
Red Moki is a New Zealand based IT consultancy and an implementation partner of ServiceNow, specialising in digital transformation and working with a range of premium clients, including banks. Since its inception, 3 years ago, the company has grown to over 60 employees based in New Zealand and India. Currently their annual revenue is around US$10 million.
Opportunity
As Red Moki grew, they wanted to develop a lead and opportunity tracking system with the ability to capture revenue from products and services at the point those revenue items occurred. Traditional CRM solutions capture and forecast the value of an opportunity using the close date, rather than when the revenue is received. As a services company, Red Moki often received their revenue via a structured payment plan and wanted a tracking system to reflect that, providing more accurate forecasts.
Having evaluated a number of options, they decided against an off-the-shelf, cloud-based system. Instead, they chose Creatio, so the solution could be tailored to their specific requirements and they could also enjoy the benefits of rapid delivery. Creatio appointed Mitra AI to design and implement the required solution.
Solution
Mitra AI partnered with Creatio to design and implement a customised revenue tracking solution. Using the low-code, Out-Of-The-Box (OOTB) features of the Creatio platform, and the iterative approach by the Mitra AI team, meant the complex business logic and calculations behind the solution were seamlessly applied to achieve accurate revenue forecasting.
The system captures recurring revenue, managed services revenue and product revenue, along with cash flow information to provide a comprehensive and timely view of the revenue forecast. Using low-code meant the solution was developed and deployed much faster than using traditional methods and the iterative approach used meant the resulting solution was exactly tailored to Red Moki’s requirements.
Key Solution highlights include:
Creatio Experts:
Mitra AI is a Creatio Integrator Partner and helped Red Moki leverage this intelligent platform to build a bespoke revenue forecast platform.
Revenue Forecasting:
By applying complex business logic, Mitra AI were able to build an accurate revenue stream forecasting solution. Recalculation of expected revenue streams is undertaken automatically if close dates change.
Rapid Deployment:
By increasing the speed of deployment using low-code, Mitra AI kept project costs down and delivered an agile solution that integrated seamlessly with existing systems.
Impact
Classic CRM solution with a centralised customer and secure contact database
Bespoke CRM solution, customised to the exact needs of client
Accurate revenue stream forecasting allows for planning and capital investment
Rapid deployment using Creatio low-code functionality
Insight into lead and opportunity management process
Karl Walker, Head of Architecture, University of Exeter