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With the rise of AI, new sales technology and automation at the forefront of the sales echo chamber these days, we thought we’d take a moment to bring it back to BASICS – that’s why we’ve rounded up this complete glossary of sales terms and definitions to help you remember where it all started.
What started as Dimitris (now my Co-founder at Outseta ) writing a few lines of code to collect rent payments from tenants he had living in a duplex in Providence, Rhode Island, turned into something worth hundreds of millions of dollars 15 years later. While these revenues are pay-per-use, rent payments are both large and regular.
Recurring payments. The software-as-a-service business model involves providing a subscription service, so you will have to worry about getting payments every month/year as opposed to only once. Recurring payments take the form of monthly recurring revenue, otherwise known as MRR. In SaaS, clients do not buy hardware.
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