Looking to improve your company’s culture? According to Forbes, 92% of companies said that improving their company’s culture would improve the value of the company. That’s right, in addition to boosting overall employee morale, culture can also increase revenue. Rev.io has had a fantastic culture since we started in 2002. As a leading provider of IoT and telecom billing software with several Best Places to Work and Top Workplaces awards under our belt, we’re sharing the secret sauce to cultivating culture the Rev.io way.
Companies often struggle with which department should lead the charge towards a strong company culture. The truth is, it begins with your leadership team and prioritizing business initiatives around your most important asset, your employees.
As a growing provider of billing software over the past 15 years, we’ve learned to develop an outstanding culture that promotes growth. Here are four ways you can start building a great company culture:
At Rev.io, we believe that developing a strong culture begins with defining your mission and company values. Our mission – to be the best billing software and back-office company in the world by providing innovative solutions and extraordinary service to our clients and end-users – drives our goals and strategic initiatives. However, the culture of our company (which drives the direction of our billing software) is really defined by our ACT TOP values:
That being said, it’s not enough to stop there. Once you’ve created your mission and values, you’ll have to find ways to weave these into your daily meetings, calls, presentations, and employees’ lives.
Here are a few ways we promote our mission and values internally:
The Rev.io team devotes an entire day to community service as part of our commitment to the “Caring for Employees, Clients, and Community” value. On May 17th, all of our employees volunteered at MedShare, a local organization dedicated to improving the quality of life in underserved communities by sourcing and delivering surplus medical supplies and equipment to countries in need around the world. By taking time away from the business, Rev.io contributed to a great cause and fostered team building.
Not sure what organization to get involved with? Sending a quick survey to your employees to find out if there are any groups or associations they’re passionate about is a great way strategy and gets others involved in the planning process!
The future success of your organization depends on developing the next generation of leadership. Some of Rev.io’s rising leaders are selected to be a part of the Operational Leadership Team “OLT.” This team strengthens our ACT TOP values, collaborates cross-functionally to overcome challenges, and executes strategic initiatives. In case you missed our Q&A with Rev.io’s Operational Leadership Team, it’s a great read! Establishing a group of up-and-coming individuals, similar to Rev.io’s OLT, gives your employees a chance to further their career, tackle new challenges, and grow their skill set.
Another idea for investing in your employees is establishing a cadence of leadership training. Every other Thursday morning Rev.io employees have a chance to get together to listen to a TED Talk or leadership podcast, discuss the content, share examples from their roles, and see how it applies to the business. In addition to taking the hour to listen to leadership practices, this also gives our team a chance to network with leaders in the organization and other departments. This time is invaluable to the Rev.io Team, and is something that can be easily replicated at other companies!
Rev.io’s leaders understand the importance of developing our people and we set aside a percentage of our budget for local networking events. Pay for your employees to attend training conferences and allow them to participate in opportunities to grow their career. Not only will your business benefit from investing in your employees’ experiences, you’ll also build a culture of loyalty and reduce turnover.
The last point here is the most simple but often overlooked. In the words of Kevin Elko, our 2017 Client Summit keynote speaker, “this is about people.” We get it, your company has lofty goals, limited resources, and revenue targets to meet. We do too! That being said, the employees’ expectations of a company are changing and it’s important that your company adapts to those changes. It’s one word – flexibility. Providing your employees with flexibility around schedule, office environment, and work from home days will create a more loyal and productive workforce.
We’ve made it easy for our employees to work remotely and after-hours with video-conferencing applications and collaboration tools like Dropbox, Google Drive, and Slack. In the technology world we live in today, most of your employees can work anywhere with internet access. Having a flexible work environment shows compassion for your employees, some of who may have long commutes, young kids getting out of school early, or spouses with crazy schedules. When your employees feel valued, they feel a sense of self-accountability and go above and beyond for the company.
Equally as important as flexibility, is designing an office environment that represents the culture. Walking into an office and instantly feeling the energy of the organization helps with recruiting, sales meetings, and even investors.
Here are several no-cost or low-cost office ideas, taken directly from Rev.io’s HQ:
Creating a great culture is all about establishing an organizational focus (mission and values), embodying your values, investing in your people, embracing flexibility, and aligning your office space to your culture.
Ready to join our fast-growing company? Get in touch to learn more about Rev.io’s billing software! Or, check out our culture page for more employee benefits and our jobs page for open positions. We’d love to hear from you!
What is the API? We’re glad you asked! Our API lets you interact with Rev.io’s usage-based billing platform and data without knowing how we store it or having access to our database.
As part of our commitment to keeping our Communications and IoT clients ahead of the competition, Rev.io is constantly developing new tools and features, with our new REST API the latest (and possibly largest) enhancement to our usage-based billing platform.
And, we didn’t create the REST API just for our clients and partners, but for ourselves too! We’re moving towards an API-first architecture, building Rev.io itself on top of our REST API. That means consistent behavior whether you’re using our web interface or making an API call, and you can count on us to keep the API up to date.
As telecom and fleet management service providers, streamlining internal processes and managing usage rating are crucial to your success. That’s why we’re focused on making it easy to integrate with Rev.io. Using our REST API, clients and partners can connect Rev.io directly to third-party systems, eliminating manual errors and saving you time.
Since we already have a SOAP API, you may be wondering why Rev.io spent the time and resources to build a brand new REST API. For us, the decision was simple.
Our REST API provides significant benefits over the SOAP API:
In addition to designing and building our REST API, we’ve also released our Developer Portal, a centralized place for REST API documentation, FAQs, and sample requests and responses, where you can make real API calls and get questions answered fast!
Already using the REST API? Clients can share feedback and suggestions using the Rev.io Ideas forum and the REST API Idea category. Your feedback helps us shape the future of Rev.io’s REST API and usage-based billing system. New to Rev.io’s REST API? You can learn more by watching our Live Demo of Rev.io’s REST API & Developer Portal webinar or by reading our REST API information sheet.
Not a client or partner yet? Get in touch with us to learn more about our rating engine, usage-based billing, workflow processes, device inventory, and customer management platform! You’ll learn more about our telecom billing system and how we can help your business get to the next level.
This blog post is the first of a two-part series about our REST API – subscribe to Rev.io to hear about future API enhancements.
The communications and IoT industry is constantly evolving. In order to keep up with competition, service providers must remain in-tune with new technologies, opportunities to expand, and differentiating strategies. That’s why we decided to launch our first “State of Communications and IoT” report. Rev.io, in conjunction with Altaworx, surveyed Communications and IoT leaders nationwide to explore:
By surveying companies in the space, we hope to provide you with a pulse on the industry. Here are the key findings from our report:
The growing IoT buzz has caused a majority of service providers to pursue ways to complement their existing offering with an IoT service. However, not many in the Communications space have breached the gap to IoT. With plenty of green space in the field, we believe that those able to get to market fastest will be most successful.
Communications and IoT providers are lagging behind other industries in the customer experience movement. With this movement, customers now expect service excellence and user enablement as part of all products and services. Unfortunately, our industry has been slow to react to this change. For service providers looking to grow revenue, we recommend differentiating from the norm by leaning into the user experience movement. We’re predicting that the service providers with the most customer enablement and self-service technology will win more deals and grow revenue, faster.
While the Communications and IoT markets are growing their portfolio of offerings, enabling customers through self-service portals and support technologies has not been a priority.
Growth is stable across the board – a large majority reported annual growth rates of 20% or more – and one-third of companies surveyed said they’re considering a merger or acquisition in the next three years. As companies prepare for an M&A in the internet of things future, it’s important to have clear visibility into operating margins and accurate BI reports. Rev.io recommends maximizing your valuation by putting technology in place today to manage financial, customer, billing, and tax data.
Companies surveyed are preparing for growth through investing in new service offerings and improving customer experience to reduce churn. The team at Rev.io predicts many of those new service offerings to be in the IoT segment. Along with the migration towards pay-as-you-go pricing models, it makes sense for customer retention strategies to be top-of-mind. When managing a recurring revenue business, improving customer experience and reducing churn is important for predicting revenue growth for the internet of things future.
Manual processes was selected by surveyors as the most common challenge in managing a recurring revenue business model. In addition, our report found that the lack of scalable billing and back-office solutions was the greatest hurdle for reaching business objectives this year.
Check out the full State of Communications and IoT infographic.
The good news? Rev.io does the heavy lifting on usage-rating and billing operations, so you can spend time scaling your business. With existing integrations in place to seamlessly manage new orders, service usage, taxation calculation, and support, Rev.io alleviates billing and customer management pain. The proof is in the platform – Rev.io clients grow by more than double the industry average. Click here to learn more about the Rev.io platform.
What is the value of your communications company?
While the answer to that question depends on numerous factors, it is crucial to keep in mind throughout every stage of growth in your business. Even if you are not quite ready to sell, a sound exit strategy can help any business owner achieve peace of mind and lead to a successful future sale.
Communications is a crowded space. The businesses in this market are constantly looking for ways to differentiate themselves and stand out from their competition. Rather than constantly chasing “the next big thing,” we want to help Voice, Data, and IoT service providers by outlining the top factors that impact valuation and actionable steps you can take today to increase the value of your communications company.
In this free eBook, we provide tips to increase the value of your company. You’ll learn:
Whether you’re looking to raise money for growth or maximize valuation for exit, the power is in your hands to increase the value of your communications business. Download our free eBook below to get started.
Rev.io, the leading Quote-to-Cash billing and customer management solution for Communications and IoT service providers, is proud to announce that we’ve reached 100 active clients after onboarding Vertical Communications. With an all-star roster of Communications and IoT clients, Vertical Communications joins top organizations benefitting from Rev.io’s telecom billing services.
“Thank you to Vertical Communications for the partnership between our companies,” says Brent Maropis, CEO of Rev.io. “This is a big milestone representing Rev.io’s proven experience and the strength of our client ecosystem, which ultimately gives us a unique advantage. We’ve onboarded over 70 clients since 2013 and reaching 100 clients today reflects our eagerness to change before we have to, our drive for continuous innovation, and the tremendous success and support of our clients.”
Rev.io’s full suite of new order quoting, integrated usage rating, workflow automation, subscription billing, and customer management solutions will support Vertical Communications’ new strategies and portfolio expansion.
Enhancing their support functionality was one key motive for Vertical Communications to implement the award-winning revenue management platform. By leveraging Rev.io’s cutting-edge customer management technology, Vertical Communications will save time and improve their end-customer experience. In addition, the Vertical Communications team will enjoy time-saving capabilities through Rev.io’s integrated usage rating to Momentum and LG. We look forward to assisting our newest active client with current and future growth strategies. With a client-driven roadmap, we’re confident that their innovative telecom billing software will continue to improve and keep clients ahead of their competition.
“Onboarding our 100th active client is an incredible achievement for Rev.io and what a fantastic client to be part of our company milestone,” remarks Ross Overstreet, Founder and CTO of Rev.io. “Achieving this goal was a team effort, across all of our departments, and I’m very grateful for the team we have in place today.”
Rev.io’s telecom billing software was built to help Communications and IoT service providers grow, compete, and innovate their existing business models. The award-winning, cloud-based platform enables client growth with its customizable interface and integrated usage rating. With a client-driven roadmap, Rev.io continues to solve the mission-critical back-office challenges for Voice, Data, Network, and IoT service providers. We look forward to partnering with Vertical Communications and enabling their new initiatives with their robust monetization platform.
Ready to join Rev.io’s growing line up of partners? Request a demo here.
Take a 30-minute tour of the Rev.io platform and see how it can be customized to your business’s unique needs. One of our team members will reach out to schedule the call with you.