Derek O'Carroll
๐ค SpeakerAppearances Over Time
Podcast Appearances
I've never heard that.
dollar retained revenue.
It's the same number.
It's sort of how much we're selling on top of what we had last year.
And when you look at that 13% churn, about four points of that, sorry, 5% of that is coming from what we call failed implementation.
So customers that go off spec, have issues, have people churn, underestimate training requirements, whatever it is,
And then they get to the 12-month cycle and they don't want to repay again.
So that's what pre-life churn is.
So over the last three years, we've put in place utility-based pricing.
which essentially links our customers to number of orders and their gross GMV, gross merchandising volume that they put through the platform.
And as they grow, they pay less per unit, but they pay more as they grow.
And what we then follow that through was a program of improvements around contracts and then account managers and customer success.
And then we put in place the basics of best practice that would be preached by companies like Gainsight.
So really putting in place
the checks and balances in a calendar to make sure our teams take past value delivered credit from the customer and then point them towards mid-contract upgrade or upsell to new products.
So our DOR is being driven hugely by upgrades in plans because our customers are getting bigger on the platform.
And the number that sort of cites that, which gives us confidence for the future is in 2019, we processed, um,
$3 billion of orders through the platform.
In 2020, that went up to $4.4 billion.
So that gives us lots of headroom.