In a business, the term "operations" can refer to a lot of different things. There are sales operations, marketing operations, and even revenue operations. A lot of people use the terms "revenue operations" and "sales operations" interchangeably, but they're actually two very different things. Is operating revenue the same as sales? So what's the difference between them? Here's a quick overview of the key differences between revenue operations and sales operations so you can better understand which one is right for your business.
What is Revenue Operations (RevOps)?
In today's business landscape, it's more important than ever to have a well-oiled machine when it comes to generating revenue. That's where Revops comes in. Revenue operations (RevOps) is a relatively new field that encompasses all the activities that contribute to revenue generation. Revenue Operations is all about streamlining the processes and systems that help you generate more revenue. By centralising all of your revenue-generating activities under one umbrella, you can ensure that everyone in your organisation is working together towards the same goal - Generating More Revenue!
What is included in Revenue Operations?
Revenue operations are responsible for managing the day-to-day tasks associated with generating revenue. This includes things like marketing, sales, pricing, product development, customer success, finance, renewals, and upselling/cross-selling. Revenue operations teams are focused on optimising each of these activities to drive more revenue for the business.
Why do you need RevOps in your organisation?
Revenue ops is particularly important for businesses that are growing quickly. When you're growing quickly, it's easy for things to start falling through the cracks. That's why having a dedicated team of revenue ops professionals can be such a game changer. They will work tirelessly to make sure that all of your ducks are in a row so that you can continue growing at a rapid pace without sacrificing quality or profitability. In other words, revenue operations is the glue that holds all the business operations together.
What is Sales Operations (SalesOps)?
If you're a marketer, it's likely that you've heard of "sales operations" but you may not be entirely sure what it is or how it relates to your job. Sales Operations has its roots in manufacturing. In the early days of industrialisation, companies needed to find ways to increase efficiency and output. They did this by standardising processes and creating dedicated teams to oversee these processes. The same principle applies to Sales Operations today - by streamlining and optimising sales processes, Sales Ops teams can help companies increase revenue and grow their businesses.
What Does SalesOps Do?
The roles and responsibilities of a Sales Ops team can vary from company to company, but there are some commonalities. Sales Ops teams are responsible for managing sales data, analysing it to find trends and insights, and then using those insights to improve sales strategies and processes. They work closely with sales teams to help them forecast sales, set quotas, and measure performance. In larger organisations, Sales Ops teams may also be responsible for managing commissions and incentive programs.
Sales operations play a crucial role in ensuring that the sales team is able to function effectively and efficiently. Without sales operations, the sales team would be working blind, without any clear direction or goal. Sales Operations provide the roadmap for the sales team, so they know exactly what they need to do in order to hit their targets.
Revenue Operations vs Sales Operations
Revenue Operations and Sales Operations are two key departments that work together to generate revenue and help the company grow. The main difference between the two departments is their focus. Revenue Operations focus on optimising existing revenue streams and ensuring that all revenue-generating activities are running smoothly. Sales Operations, on the other hand, focus on generating new revenue streams through sales and marketing activities. While both departments are essential for generating revenue, they each have a different focus and require different skill sets. As a result, it is important to carefully consider which department is right for your company based on your specific needs So which one is more important? That depends on your business. If you're a startup or high-growth company, then revenue ops is probably your top priority. But if you're a more mature company with a well-established sales team, then sales ops might be more important. Either way, it's important to understand the difference between these two concepts.
If you’re still not sure which team is right for your business, we can help. Fill out the form below and we’ll be happy to chat with you about your specific needs and how we can help you streamline your operations and drive more sales. Thanks for reading!