WNS bets on revenue operations to lure platform enterprises

Revenue operations (RevOps) services—business activities, synergizing sales, marketing, and customer services to bolster the top line—will likely grow more than 25% annually over the next three years, according to research conducted by WNS. This RevOps expansion is partly fueled by the platform economy’s ascendance, where digitally native technology enterprises provide marketplaces for business-to-business (B2B) and business-to-consumer (B2C) transactions. Industry examples include Uber, Amazon, Netflix, and Meta. WNS is a prominent BPS provider well-positioned to seize this opportunity thanks to a comprehensive RevOps portfolio, a value-based framework powered by analytics, and extensive experience working with the platform economy.

WNS has a capable services portfolio with an impressive track record

WNS offers extensive RevOps solutions encompassing sales and commercial operations, campaign management and optimization, lead generation, customer acquisition, digital sales, cross-selling, upselling, and subscription management. WNS is notching up successes for its platform clients:

• A 38% improvement in converting potential leads for a leading digital native company
• A 35% increase in sales conversion for a prominent European online travel agency
• $440 million in additional revenue for a leading global hotel chain by building a hyper-personalization engine to enhance the direct marketing program
• A 1.8X increase in average revenue per call for a magazine subscription provider

To ensure consistent results and enhance customer experience, WNS employs a support toolkit for RevOps, comprising six internally developed accelerators. For instance, WNS’ digitally simulated training environment enables agents to gain practical experience and expertise in achieving conversions. Similarly, WNS’ AI-powered agent assist solution is a virtual subject matter expert providing real-time knowledge assistance and guided workflows.

Frameworks REV up performance with analytics and expertise

One of WNS’ key differentiators is its comprehensive Rapid Enhancement of Value (REV) framework (see Exhibit 1). This framework encompasses elementary operational benefits, including better workflow management, and holistic benefits, such as creating value across the customer lifecycle, enabled by a platform approach to RevOps and underpinned by automation and analytics.

Exhibit 1: WNS’ REV framework brings together technology, subject matter expertise, analytics, and consulting guidance

Source: WNS, 2023

At the pinnacle of WNS REV is WNS’ Revenue Enhancement Platform (REP), encompassing the customer journey in B2B and B2C contexts. It includes specific objectives for each stage, with pre-designed analytics-based solutions to support meeting those objectives. One such offering is the customer experience engine powered by WNS analytics, which assists in fostering customer loyalty. REP is bundled with WNS’ unified desktop solution, aiding sales advisors during calls through proactive support using next-best-action models.

WNS’ service portfolio and value-based approach are complemented by multiple commercial models, including transaction-based, outcome-based, and gain-share arrangements.

Enterprise leaders should scout for providers with a deep understanding of the platform economy model

Successful platform businesses exponentially add user numbers, bringing rapid scaling challenges that their partners must be ready to respond to. Platform business leaders must demand commercial agreements aligned with the maturity of their business. For example, a gain-share pricing model makes sense during the hypergrowth phase. Platform businesses often connect two groups: content creators and consumers or service providers and service users. An effective RevOps solution should consider both groups.

Platform businesses are built on their ability to use data-driven decision making, partner and ecosystem activity, community building, and scalability at speed, all of which must be considered while defining contractual clauses and objectives. Platform enterprise leaders should expect their provider partners to understand these unique business characteristics and reflect them in their service offerings and execution. A competent RevOps provider must follow an agile project management framework, implement predictive analytics to comprehend customer behavior, and provide diverse ecosystem partner solutions such as partner onboarding and management.

Providers need experience, agility, and a focus on customers

The WNS team has more than a decade of experience working with 50+ leading platform businesses, leading to a deep understanding of industry challenges. It examines each platform client’s business model to formulate a customized service design.

For example, while engaging with a magazine subscription client on customer lifetime value, WNS analyzed historical customer data to gain insights into customer subscription behavior, attributes affecting their behavior, and publishing industry dynamics. With this information, it developed a highly personalized predictive model to anticipate renewals and subscriptions and maximize conversion. It employed a Kanban framework to facilitate project management, incorporating daily stand-up calls and regular feedback. These efforts resulted in a 46% increase in cross-sell conversion rates and an impressive 83% higher average revenue per call.

The Bottom Line: Outsource RevOps to providers that understand the nuances of the platform economy if you want to maximize your chances of success.

To maximize RevOps benefits, leaders of platform businesses must demand providers formulate proposals and craft solutions that can respond to their platform’s network effects, the multi-sided nature of clients (providers and consumers), ecosystem building, and preparedness to handle rapid scaling and geographic expansion.