Seven out of ten revenue leaders are optimistic about boosting revenue in 2024 despite missing targets in 2023. The main challenge they face is Revenue Leak, which results in a loss of 26% of potential earnings due to flaws in the revenue process. To address this issue, many companies are adopting a dual approach: expanding their revenue teams and investing in AI-driven technologies.
“Clari’s first annual survey of global revenue leaders paints a picture of a fast-growing profession in transition. A new generation of CROs and RevOps leaders are turning to AI and purpose-built revenue technologies to help their growing teams identify and diagnose Revenue Leak and orchestrate consistent and repeatable Revenue Cadences. That’s how winning companies will be able to create, convert, and close more revenue,” said CEO Andy Byrne, Clari.
According to a Clari survey, the focus is on using AI and specialized technologies to identify and fix Revenue Leak and establish effective revenue processes. This strategy is expected to enhance revenue creation, conversion, and closure.
Last year, Clari introduced the Clari Integration Hub, which is a central source for gathering and organizing essential revenue signals from over 40 integrated technologies and solutions throughout the revenue ecosystem.
Key findings to take into account
Despite challenges, including 61% of companies falling short of their 2023 revenue targets, optimism remains high for the year ahead, with 72% expressing confidence in achieving improved results in 2024.
Looking ahead, most companies (64%) are planning to expand their revenue teams in 2024. Moreover, 61% are increasing their investments in technology, highlighting a strategic alignment towards bolstering workforce capabilities and leveraging advanced tools for enhanced operational efficiency and revenue generation.
AI emerges as a pivotal technology in this landscape, with 32% of companies already integrating AI into their processes and a notable 67% planning to adopt AI within the coming year. The benefits of AI are multifaceted, promising accelerated revenue generation, boosted decision-making processes, and more robust market analysis capabilities.Clari's findings highlight the importance of adopting AI-powered platforms to enhance revenue processes and gain a competitive edge, especially for those relying on outdated systems.
