We use the Transport Layer Security (TLS) protocol to encrypt these connections. To ensure the security of our systems, and maintain our compliance with the PCI Data Security Standard (PCI DSS) for safeguarding payment data, Rev.io is updating its product suite to require a minimum of version 1.2 of TLS for all HTTPS connections.
Support for TLS versions 1.0 and 1.1 is being deprecated on June 14, 2018.
As a result, anyone attempting to connect to Rev.io products using unsupported browser versions will be unable to do so.
To continue using Rev.io products, you will need to upgrade to a more modern browser with support for TLS 1.2 or later. For applications integrating with Rev.io products, all HTTPS and API connections will require a minimum connection strength of TLS 1.2 or later.
To help our clients and end-users prepare for this change, we’ve come up with some FAQs and we’re excited to share these with you here!
Rev.io will stop accepting TLS based HTTPS connections made using TLS versions 1.0 and 1.1 beginning June 14, 2018. As a result, clients and applications attempting to connect with older versions of TLS will not be able to establish a secure connection and will be unable to access Rev.io products.
After deprecation, Rev.io will no longer address bugs and minor issues specific to connections supporting TLS versions 1.0 and 1.1. We will continue to resolve any major breakage in functionality until the deprecation date. After deprecation, Rev.io will also no longer provide support for connections supporting TLS versions 1.0 and 1.1.
After the deprecation date, if you are connecting using TLS versions 1.0 and 1.1, you will fail to establish a connection and will be unable to access Rev.io products.
This change applies to Rev.io’s IoT and telecommunications billing system, API, Agent Portal, and Customer Portal (or BillCenter).
The PCI Council has mandated that support for version 1.0 of the TLS cryptographic standard should be deprecated by June 30, 2018 for companies to stay compliant with the PCI Data Security Standard (PCI DSS).
Rev.io’s mission is to keep clients ahead of their competition and grow revenue efficiently. As part of this promise, we’re maintaining the latest security standards for our usage-rating and telecommunications billing system with this TLS change.
All Rev.io products are impacted by this change, including Rev.io’s IoT and telecommunications billing system, API, Agent Portal, and Customer Portal (or BillCenter).
Additional information about specific products is below:
For you: be sure that you are running on a modern browser, such as Internet Explorer 11, Mozilla Firefox 27, Google Chrome 30, or Apple Safari 7 or newer. If you are not using one of these browser versions or newer, you will need to update to at least one of these versions.
For your agents: be sure that they are running on a modern browser, such as Internet Explorer 11, Mozilla Firefox 27, Google Chrome 30, or Apple Safari 7 or newer. If any of your agents are not using one of these browser versions or newer, they will need to update to at least one of these versions.
For your customers: know that they will be able unable to connect to Rev.io if they are using older browsers. To continue to use the products, they will need to be using a modern browser, such as Internet Explorer 11, Mozilla Firefox 27, Google Chrome 30, or Apple Safari 7 or newer. Mobile versions of Rev.io products will also fail to connect securely on Android OS version 4.1 and below, or the Android Browser on Android 4.4.4 and below. Customers with iOS devices prior to iOS 5.1 will also be unable to connect to Rev.io securely after the deprecation date. Customers should update the version of mobile operating systems to gain support for TLS 1.2 or use a more modern browser with support for TLS 1.2.
The minimum browser versions include browsers such as Internet Explorer 11, Mozilla Firefox 27, Google Chrome 30 or Apple Safari 7. iOS 5.1 and Android 5 Lollipop or later will be required to connect to the mobile web versions of the products.
You will be unable to securely access the Rev.io products beginning June 14, 2018.
For more information about Rev.io or if you have specific questions about how this change will impact our IoT and telecommunications billing system, please contact our Client Success Team!
According to CRN, the managed services market reached $145.3 billion in 2016 and “will grow at a rate of 10.8% to $245.5 billion by 2021.”
As cloud computing technology continues to gain traction in the market, more and more organizations are turning towards Managed Service Providers (MSPS) to leverage expertise, improve security, cut costs and improve uptime. With increased demand comes a slew of competition, making strong customer relationships even more critical for today’s MSPs. Continue reading our guide for managed service providers to start building customer relationships today.
As the IT industry continues to shift away from traditional professional services towards cloud and Saas applications, MSPs must find a way to adapt their strategies. What was once a matter of selling physical products has now grown into something much bigger – Infrastructure as a Service, or, “a standardized, highly automated offering, where compute resources, complemented by storage and networking capabilities are owned and hosted by a service provider and offered to customers on-demand.”
As a managed service provider, it’s your job to help your customers see the future and provide a way to help them reach those goals through technology. At the same time, you must stay committed to internal innovation. For MSPs, no two accounts are alike, so you must tailor your services based on the evolving needs of your customers. Adding recurring and usage based offerings to your portfolio will help your customers transform their businesses and, in turn, keep you competitive. In order to succeed in this space, MSPs must find a sophisticated billing solution that is capable of usage based billing.
When it comes right down to it, MSPs must keep their focus on value-added services and an up-to-date solutions stack.
CompTIA, the world’s leading tech association, is spearheading this usage based service movement for MSPs. Annette Taber, CompTIA’s vice president of industry outreach, had this to say about their recent Business Apps Council launch, “Companies represented on the council come from the ‘as a service’ world, with applications and solutions delivered via the cloud and sold to customers as subscriptions. But while their route to market may differ from traditional channel companies, we believe there are many opportunities for the two to coexist and cooperate. Our goal is to identify opportunities for collaboration and create the tools to make it possible.”
It’s an exciting time for MSPs. If you want to learn more about how Rev.io’s telecom billing platform can help you scale your managed services businesses, reach out to our team any time.
Churn (or cancellation) rate refers to the percentage of customers who leave your product or service. For usage or subscription-based businesses, it is arguably THE most important metric to monitor. A high churn rate is a classic sign that the business you are running is no longer sustainable. The good news? Taking action to both identify your most valuable customers and improve user experience can quickly remedy the problem.
Here are seven strategies to reduce customer churn and, ultimately, increase revenue.
Just like your website may provide the first impression before a sale, your onboarding experience sets the tone for the quality of service you provide to customers. If your onboarding experience is negative, choppy or unprofessional, your customers will expect the same level of support throughout your partnership. In fact, new customers are most likely to churn in the early days of onboarding, so creating a smooth platform transition is vital to your relationship. An effective onboarding process will build your customer’s trust, demonstrate the value of the product or service, and set the foundation for the remainder of the partnership.
Pro Tip: Earn your customer’s affection in the early days and win them for a lifetime.
While user experience (UX) typically refers to how easy or intuitive a product or website is to use, good UX really comes down to meeting the needs of your customers. Our customer retention tip? Encourage new hires to interact with your product and service before getting your official training. Their fresh eyes will give you visibility into how new customers might approach your product or service. This will help you identify gaps, watch user patterns, and determine what may be less than intuitive.
Pro Tip: Talk to your support team and make sure these gaps directly influence your roadmap.
What kind of technology are you providing for your customers? In today’s competitive market, the answer to this question could make or break your churn rates. Add over-the-top value by offering services above and beyond basic connectivity and data connection. For example, self-service capabilities can empower your most valuable customers to take charge of their accounts and help you stand out in the market.
Pro Tip: Learn about how to effectively roll out a new product or service, right here.
Thanks to modern APIs, business intelligence is no longer exclusive to enterprise companies. Organizations of all sizes can access predictive analytics to detect early warning signs of at-risk customers. Recurring revenue and subscription-based businesses can avoid churn by tracking metrics like frequency of user engagement, customer satisfaction scores, and more.
Pro Tip: Look for a customer management tool that offers custom reporting to track the information that matters most to your business.
Adopting a modern, automated billing system can improve accuracy, build trust, and, ultimately, improve retention. Billing is personal for your customers. One small mistake can trigger a major chasm of trust between you and your customers. Whether your customers are facing an inaccurate charge or unpredictable billing rates, chances are that trust will not only get lost in the billing process but also in your product or service as a whole.
Pro Tip: You can’t afford to make billing mistakes. Read more about how better billing can drive your client retention strategy.
Mistakes happen, but the quality of your customer support can reverse, or exacerbate, these issues. Almost 70% of the identifiable reasons why customers left typical companies had nothing to do with the product. The prevailing reason for switching was poor quality of service. Make sure your support team is prepared and empowered to deliver quality care and views each trouble ticket as an opportunity to deliver world-class care.
Pro Tip: Choose a service provider that keep their development and customer support in-house to prevent this pitfall.
Businesses spend 5x more to acquire a new customer versus what they spend to retain an existing customer. To see how Rev.io can help you predict and prevent churn of your most valuable customers, request a demo or contact us today.
As companies look to grow their business, they often invest resources into sales teams, new product offerings, and client success. While these are excellent tactics to incorporate into your overall strategy, focusing solely on these business drivers is a mistake. Without an engine generating demand, your investment will have little return.
When your goal is to grow revenue, you should invest resources into your marketing first. This often overlooked team can make a major impact on demand generation. The best part? There are many low-cost Marketing efforts – such as targeted email campaigns, fresh blog content, and SEO campaigns – that your team can leverage now to boost inbound leads.
Whether you’re providing Wireless, Wireline, VoIP, data, or IoT services, it’s important to remember that your customers buy on their timeline, not yours. That being said, you don’t want prospects for your VOIP billing software going cold in the meantime. Your marketing investments will help keep these prospects warm and engaged, until they’re ready to evaluate your services.
One of the best way to nurture prospects in your database is through targeted email campaigns. No, this doesn’t mean blasting your potential customer list with tons of spam. Instead, share articles, one-pagers, and ebooks that would be of interest to your buyer. Leverage your valuable thought leadership as downloadable content to share with your prospect for free,.This will keep leads engaged, build trust, and helps your prospects improve their businesses. Lastly, if you haven’t already, consider a marketing automation tool to maximize your email efforts, allow for segmentation by lists, and track program performance. You don’t have to invest tons of money – there are several free versions out there!
What typically comes to mind when you think about marketing investments? Events, collateral, email programs, press releases, and website presence are among the most commonly used tactics. While blogging has gained traction in many industries, the communications space seems to be lagging behind, representing a huge opportunity for businesses to get ahead of their competition.
Before you begin a blogging strategy, make a list of top keywords. These words and phrases should be directly associated to your company or services. (Hint: consider how your target customers typically search for your product or services online). Before you start writing, remember the ultimate goal. Your blog posts should aim to invite your prospects in, build trust, and establish your business as an expert in the industry. If you are struggling to come up with strategic topics, brainstorm a list of common questions from clients and prospects then answer these questions in an in-depth (yet digestible) blog post.
Now that you have your downloadable thought leadership content, educational blog posts, and list of keywords in place, it’s time to make marketing investments in your social channels. It’s time to face the music – Twitter, LinkedIn, and Facebook are not just for millennials anymore. Companies that out-perform their competition are building their brand awareness through these mediums. Don’t think that social media outlets have a strong ROI? You’re wrong. These popular social media platforms can drastically boost your SEO. By linking Twitter, LinkedIn, and Facebook posts back to your website, you can improve your search engine ranking and ultimately drive revenue growth.
With 70% of sales happening before the prospect reaches out to your business, it’s more important than ever to be on the first page of their Google search. Social channels are a fantastic way to build your brand personality, attract new buyers to your website, and improve SEO.
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You have an excellent product that stands apart in your market. Conversion metrics are looking good and your business clearly has a solid handle on turning leads into paying customers. But once you win those customers, are you doing a good job of keeping them around?
Customer retention refers to the actions a company takes to reduce the number of customer defections. It begins the moment a customer interacts with a company and continues throughout the lifetime of the relationship. Every service, product and interaction accumulates to determine the status of the relationship.
While customer retention is a critical metric for any business endeavor, it is especially important for subscription businesses relying on recurring revenue. Retaining the customer base you already have promotes sustainable growth. In fact, some say that customer retention is even more beneficial to a company’s financial health than new business.
Thanks to ever-evolving technology, rising customer expectations, and easy access to other options, maintaining customers is more challenging than ever and requires an all-encompassing, strategic approach.
According to research from Harvard Business School, increasing customer retention rates by 5% increases profits by 25% – 95%. Managed properly, that is a huge return on investment. Finally, the likelihood of converting an existing customer into a repeat customer is 60% – 70%, while the probability of converting a new lead is 5% – 20%, at best. Whether you’re looking to grow your customer base by winning new deals or add new offerings to your existing portfolio, effective client retention strategies are just as important as these new initiatives.
In response to these glaring statistics, providing a more personalized and seamless user experience is the new approach that many Communications and Technology service providers are adopting. By combining billing, agile reporting, customized support, and a self-service customer portal, we’re creating a toolkit to provide your base with a better customer experience. Our sophisticated, quote-to-cash subscription billing software is helping businesses, like yours, grow by more than double the industry average by improving customer service, reducing churn, and increasing retention.
When you’re working hard to retain customers, but still noticing a gap in your revenue, there’s a good chance that revenue leakage is the problem. By overlooking or missing monthly recurring payments, you are creating involuntary churn – ouch.
With a strategic billing partner, you can make decisions with confidence, reduce errors, and manage customers, devices, and payments. Rev.io can help you provide a simplified onboarding experience, improve customer support, and reduce churn. We enable solutions providers to bill for any recurring, metered, or one-time service.
Whether you’re losing a customer to a competitor, or simply lack the customer service necessary to maintain happy customers, our subscription billing platform can help. Streamline and automate the entire customer experience with Rev.io. To learn more, schedule a demo or contact Rev.io today.
Since the invention of the first internet connected toaster in 1989, the Internet of Things (IoT) has been an inevitable part of both our personal and professional lives. While the Internet of Things might sound like a phrase straight out of an episode of “The Big Bang Theory,” it’s actually a little less mysterious than it sounds. So what exactly is IoT? In the simplest of terms, the Internet of Things is the ability for any device to connect to the internet with an on and off switch. Meaning a simple slide to the left or right on your smartphone instantly connects you to the internet. The same definition applies to tablets, computers, televisions, automobiles, and even accessories (Apple watch, anyone?). Further, IoT also includes any devices that can speak to each other using the internet, like your laptop’s connection to your wireless printer.
As the IT world continues to wow us with the latest and greatest products, inevitably the world of IoT will continue to grow, too. Analyst firm Gartner predicts that by 2020, there will be over 26 billion connected devices. Most notable, and perhaps the easiest to understand, is the concept of the smart house. Products like the Nest thermostat program invite themselves into your home and your behaviors. The Nest thermostat notices when you’re not home or when you’re sleeping, adjusting its heating and cooling accordingly. Placing products even further into the IoT market, Nest can be controlled remotely by an app on a smart device. The Nest product line also includes a camera and smoke alarm, but these products are only the beginning. Imagine a refrigerator that can take inventory of items that are running low and let you know via text that you should restock, or even alert a grocery delivery service. With products like these, it’s only a matter of time before we’re living in IoT cities.
Personal application and creating the ultimate smart home is one thing, but what does IoT connectivity mean for business? IoT has opened the door for companies to add new business models and develop new streams of revenue. With each addition, there is a need for a successful billing solution that is both fluid and agile. That’s where we come in. Our billing system is comprehensive and scalable, allowing customers to buy monthly plans or one-time timed-expiration plans, all with real-time data. Plus with auto pay, accounts are debited automatically. Additionally, our cloud-based system can be configured to send emails to customers, make automated calls, mail letters, suspend customers, and more. The real beauty of Rev.io, however, is our scalable capabilities. Rapidly growing markets encourage high volumes of billing, and we’re right there every step of the way.
IoT and billing are required puzzle pieces of the future of business. With the ever-evolving internet of things future, you’ll need a reliable billing system to evolve, too. Our forward thinking solution might be exactly what your business needs as society heads toward the world of IoT connectivity. If you’re ready to upgrade your usage-based billing system for the future, contact Rev.io. We’re ready when you are.
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.