12.16.20 -- 5 Keys To Retail ISV Growth

When it comes to revenue recognition and ASC 606, finance executives at SaaS and subscription companies face many challenges. There are complexities regarding revenue and billing models, how well-aligned sales and finance are on deal terms, and the changing rules from ASC 605 to ASC 606.

Customization has become second nature to most of us — who hasn’t applied a theme, uploaded a cover photo, moved a toolbar, or deleted a widget? But extension, customization’s more technical cousin, is also important to application design, particularly in the B2B space. Unless you’re a web developer who’s built her own WordPress plugin, you might not even be clear on the distinction between customizability and extensibility. So, let’s first get our terms straight.

One can hardly believe the really stupid stuff modern B2B salespeople are pitched by sales gurus and over-funded CRM software firms with no chance of success.

For SaaS vendors, a services channel is more important than ever. Transactional sales-led partners may be great for landing the deal, but that is only the first step. You need a services channel to drive customer success that leads to account expansion.

Your success as an ISV is always related to how well the applications you develop meet the needs of your clients — but right now in retail, it’s absolutely crucial. Retail ISV growth depends on more than developing simple tools for merchants to use at the checkout or that allow them to accept payments made on a smartphone. Retailers need software solutions that meet the challenges of a rapidly changing, ultra-competitive industry. They need help in the fight to win customers and keep their loyalty. Retail ISV growth requires a deep understanding of the industry and the ability to develop applications that help retailers execute their business strategies.