Revenue management is a common practice for businesses, but in the realm of services companies, it’s a bit different than in other industries. At its core, revenue management is about optimizing what you are selling and when to get the best price. Regarding services businesses, it’s about optimizing your people and knowing where they are, who’s on the bench, what projects are coming up, what people are needed, etc., to best serve your clients.

The most significant part of revenue management for a services business is building a process to keep up with it. This requires gathering data to keep it up to date so that you can see exactly where to move your people or if you need to invest in hiring at any given moment.

In this video, we explore our best practices for revenue management, such as how often it should be looked at, how we’ve built it into our company’s day-to-day activities, and how that benefits your business decisions in the long run.

Chapter Index:
00:16 What is Revenue Management
04:05 Revenue Management Metrics and KPIs
08:13 Revenue Management Tips for Services Companies
13:55 Choosing a Revenue Management System

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