Administrate helped this enterprise training team implement new reporting processes that revealed gaps in training revenue. The training team is now recognized for its accurate, timely revenue forecasts and gaps in revenue can be isolated, analyzed, and recovered.
Fortune 500 business services company: recovered $500K with better sales reporting
$500k
missing revenue recaptured
#1
division internally for forecasting accuracy
80
hours per month saved on reporting alone
Overview
About the company
This company, a Fortune 500 enterprise, relies on training revenues from its 3,500+ learners. Training is often bundled and sold in complex packages to large clients. Accurate, rapid reporting and equally reliable integrations with core systems is critical for their sizable training revenue ops.
F500 Services Company
- Industry
- Software & Technology
- Objective
- Build more accurate training revenue reports
- Result
- $500k in missing revenue found
The Goal
Access accurate training revenue data
Accurate revenue reporting broke down as the team scaled revenue to $7M in a short time. The company was using an ad hoc, patchwork system of tools to report on training across the organization. Data was not synchronised or standardized and reporting was flawed.
The scale of training exasperated these problems. Beyond the team’s reputation being at stake, there were gaps in revenue reporting that impacted the bottom line, made forecasting difficult, and put L&D budgets in danger.
We needed a way to recognize non-traditional revenue, primarily from tokenized training credits. This was a manual process for us, which led to critical gaps in our data.
Challenges
Manual Tracking Was Costing Them More Than Time
Error-prone token tracking and incomplete revenue data created gaps that were quietly bleeding the business... gaps they couldn't see until they had a system built to surface them.
Training tokens, or credits, required error-prone processes to track.
Gaps in revenue data left cash on the table.
Solution
Training Management System standardizes reporting
Administrate provided automated, accurate reporting by tracking training token sales, utilization, invoicing, processing, and showing the relationship between data. This revealed just how deep the hole was in revenue tracking: $500,000 in unrecognized revenue was not properly invoiced.
But Administrate did not only resolve the team’s reporting problems, as a Training Management System, Administrate quickly automated the bulk of training management, training sales, and ILT planning and scheduling for the company.
Complete insights into training revenue, with automated reports generated on a schedule
Powerful integrations with existing systems have replaced manual processes & ineffective tools.
L&D credibility restored with identification of unrecognized revenue.
Administrate quickly identified sales that had never been invoiced or were invoiced incorrectly. We may never have recaptured this lost revenue with our previous processes.
There’s more
Streamlining training operations empowers the whole team
Automate tedious tasks, centralize operations, and free up your training team to focus on what matters. Check out our other case studies to see how leading training teams put that time to good use.
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