ihiji invision is a remote network management solution that is offered to clients as an annual managed service offering which effectively creates a stream of recurring revenue for your business. A consistent flow of recurring payments are obviously a benefit, and they are easily obtainable by selling ihiji as a network management tool within your network packages.
Recurring Revenue from a sales point of view is a very easy concept. In general, business customers are accustomed to paying an annual service fee on their networks(usually an additional 20% of their overall hardware cost) for added benefits and warranties. In this sense, it should not be difficult to present these added benefits to your clients as part of the business class network you are providing them. Obviously, clients may want to minimize the cost when they first subscribe, but the flexibility of ihiji’s subscription packages allow for adjustments at a later date. Effectively, by doing this you are planting the seed for a Service Level Agreement that would end up creating even more recurring revenue over time.
One of the best ways to grow a customer’s managed service revenue is to gain their trust through quality service and ease of use, both for which establishing a baseline for network management will help you do. Once you have this established, the next step in getting customers to move to a higher service tier is to show them the benefits of including more of their devices on the network monitoring plan and offer them an upgrade.
As we discuss in our Remote Monitoring and Support Roll-Out Strategies White Paper, some of the biggest benefits that ihiji has to offer go directly to your bottom line. These benefits are realized through cost-savings associated with simple service calls, in-field troubleshooting, truck rolls, lost productivity and warranty expenses. There are also intangible benefits such as customer service improvements, system reliability increases and new up-sell opportunities that invision brings.
The quickest way to deploy invision is to realize that the cost savings will ultimately pay for themselves and that by considering it as a cost of business on all sales you will increase your profitability immediately.
Overall, Recurring Revenue is one of the best ways to grow as a profitable company, and ihiji’s business model for its invision system provides a platform for integrators to be successful. If your company hasn’t already implemented ihiji’s Recurring Revenue platform, it’s time to make the switch and maximize your profit!
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