Improve Forecast and Proactively Manage Revenue Risk and Opportunities

  • Centric Brands Inc. is a leading lifestyle brand collective that designs, sources, markets and sells high quality products in the kids, men’s and women’s apparel, accessories, beauty and entertainment segments
  • The Company’s portfolio includes licenses for more than 100 iconic brands and designs, sources and distributes products in the men’s and women’s apparel, accessories and kids and entertainment categories
centric-logo

The Problem

  • Like in most companies, Centric’s Account Managers have revenue targets each month
  • While they had a high-level knowledge of the total order value for the month, it was difficult to predict how much of that demand would actually convert to revenue
  • Non-conversion was due to reasons such as Stock-outs and other inventory issues
  • Many of these risks can be managed if noticed early
  • But that was difficult due to the process complexity and Account Managers could not avoid such revenue leakages
Improve Forecast

What is standing between me and my target for the period? It is a very difficult question when you are managing a large portfolio of accounts and products. And that’s where OpsVeda comes to my aid. I get early visibility to revenue that is almost in the bag and those that are more uncertain. And the breakdown of potential revenue by various types of risks allows me to execute within 1% variance of moving revenue targets on a monthly and quarterly basis.

Director— Account Services, TSG

The Solution & Impact

  • The OpsVeda platform provides visibility to current and upcoming demand. Similar visibility is available to current and future supply also
  • The Revenue Risk Management solution correlates both sides to assess potential revenue and classify the same at various levels of risk
  • The solution allows managers to track their performance against current and later period targets and proactively take corrective action
  • They get early visibility to revenue risks due to reasons like stock unavailability, delayed inbound and factory delays
  • The solution also allows drilling-down to the affected orders and becomes a catalyst for actions like expediting in/outbound shipments or reallocating stock

According to an internal survey, about 75% of Account Services team have leveraged the tool to realize significantly more revenue opportunities and execute with 99% forecast accuracy.

Solution

  • Revenue Risk Management

Objective

  • Exploit Opportunities
  • Improve Revenue Forecast

Relevance

  • All Industries
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