The RequirementsThis is a brand new role within a new business model, and we’re looking for a candidate who is excited and energized by the challenge and opportunity that this new function presents.
To meet the basic qualifications for this role you will have legal authorization to work permanently in the United States for any employer without requiring a visa transfer or visa sponsorship.
Additionally, to be a strong fit for the Product Manager (Recurring Revenue) opportunity, you will have:
- A Bachelor's degree or equivalent experience.
- Proven success in recurring revenue strategic initiatives.
- 3+ years’ experience with SaaS related products and services, preferably in one or more of manufacturing, software, electronics, or security industries.
- Documented history of consistent quota over-achievement.
- Experience selling enterprise products/services with a focus on value-based selling methodologies.
- Strong familiarity with sales tools and other web-based technologies.
- Excellent written and verbal communication skills to understand and identify customer needs and map business value.
- Very strong financial and business acumen.
- Proficiency in managing complex selling engagements.
- Excellent organizational skills and attention to detail.
- Willingness to accept and contribute new ideas, and adapt to a rapidly changing, high-growth, environment.
- Passion for collaboration and team building across the sales organization and cross-functionally within ASSA ABLOY Americas.
- Comfort with change and the ability to serve as an influencer and change agent.
- Capacity to get things done quickly.
The RoleReporting directly to the Vice President, Medeco Intelligent Keys, and High Security Aftermarket (HSAM) Special Projects at ASSA ABLOY, as Recurring Revenue Manager (SaaS) your mission will be to lead the evolution from a one-time sale mentality to an organization that is adept in creating, capturing, and accumulating revenue growth from aftermarket sales of products, software, and services. As our hardware oriented products are becoming more sophisticated, software and services are becoming a more integral part of the sale. Opportunities are emerging to rapidly increase our revenues by bundling value-added recurring software and service with the hardware. In fact, in some cases, the software is becoming the primary face of the product.
We have developed very preliminary ways to collect recurring revenue for software service agreements, but we need additional guidance, expertise and knowledge--and this is where you’ll come in. We’ll look to you to identify opportunities for recurring revenue and then develop and organize our processes and educate the organization on the importance of this new initiative.
More specifically, your principal responsibilities will be to:
Identify and develop ways to increase revenue opportunities
o Design strategically aligned recurring fee structures for products, services, and software features, that are attractive within our industry
o Work with product managers to identify new SaaS opportunities
o Research and design enticing RMR “add-on’s” to existing hardware and software offerings
o Lead efforts to design systems for seamless and easy-to-work-with ways to collect RMR
o Identify partners and/or tools to assist or create new methodology
o Standardize pricing and service contract standards to enhance the ease-of-doing-business with ASSA ABLOY
o Develop and lead training to facilitate new processes and business methodology
Cultivate internal alignment
o Serve as internal champion of new business methodology
o Lead efforts to align processes within the organization to ensure accurate and legal collection of fees
o Design and leverage RMR in ways to create more “sticky” relationships with channel and end-users in order to retain more customers
Analyze and benchmark results
o Benchmark performance against industry and developed internal standards for continuous improvement of processes and revenue collection
o Report on, and maximize internal rate of collection
Once you’ve developed a robust and actionable plan for recurring revenue at Medeco, you’ll begin to implement the strategy at other companies within the ASSA ABLOY family.
Why MedecoStrategic, global impact
Your efforts will help us build this new business model and you’ll be responsible for the amount of revenue we capture for this. We need expertise in all areas of this function and your fresh ideas and insight will be welcomed and quickly implemented. As subject matter expert, you'll be able to put your personal stamp on the model by helping to establish it and then take it to the next level. The impact will extend beyond Medeco, as we collaborate with other brands as well as with global product development and management groups.
Autonomy and resources
We know you'll bring strong experience and knowledge with you, so we'll expect you to assume ownership of recurring revenue and run with it. You will enjoy a good deal of freedom to create, develop and deploy strategies and tactics. At the same time, you'll be part of a strong team, and able to share ideas and insights with internal resources as well as colleagues in other areas of ASSA ABLOY around the world.
Commitment to innovation
We are constantly evolving our product line to take advantage of the most current technologies. In addition, in order to provide the highest level of security, we reinvent our patented platforms on a regular basis. Continuous improvement is embedded in our culture.
It should be clear by now that there will be plenty to learn in this role, even for a seasoned professional like yourself. Prove yourself in this role -- both your recurring revenue expertise and your business savvy -- and you might set your sights on moving up to a leadership role or take on special project management responsibilities. In fact, this position is open because this is a brand new role and function for us!
We've created a culture that allows talented, energetic people to flourish. That culture includes a strong belief in the value delivered by our products and solutions, an emphasis on integrity and an appreciation for the power of teamwork. We're a dynamic organization that continues to develop its people. These are just some of the reasons we have low turnover and many of our employees have been here for years; people like working for our company.
Great place to live and work
The Roanoke Valley region (see video above) is home to over 300,000 people, making it the largest metropolitan area in Western Virginia and the heart of Virginia's Blue Ridge. Whether you prefer a city feel or one of our quaint surrounding small towns, there is something for everyone. Consider these accolades:
- Expansion Management magazine named Roanoke one of the top 50 hottest cities for expansions and relocations.
- Expansions Management also named the Roanoke Valley as a Five-Star Community for quality of life. The rating is based on reasonable cost of living, affordable housing, low crime, excellent transportation access, good public schools, proximity to community colleges and universities, an educated workforce, and low taxes.
- Named by Inc. Magazine as one of the 100 best places for business development.
- "Cities Ranked and Rated" ranked Roanoke as the 11th best city in the United States.
- Money Magazine ranked the Roanoke Valley as one of the top three "Best Places to Retire" in the United States.
- Ranked by Forbes.com as one of the 100 best places for businesses and careers.
In addition to a competitive salary and bonus incentive program, we offer comprehensive benefits. These include all you would expect plus some pleasant surprises, such as a company contribution to your 401(k) account plus a matching program, tuition reimbursement and access to our Wellness Program with an on-site wellness clinic.
Keys to SuccessTo excel in this role you will be a collaborative professional who can build trust and rapport with a variety of internal and external partners. A major part of this role will be to educate others on the exciting opportunity that recurring revenue offers our organization. It will be up to you to gain buy-in from Sales, Technical Support, Product Management, Customer Service, Finance, Channel Partners and others in order to shift from that “one-time” sales mentality to the recurring transaction model.
Additionally, to thrive here you'll need to possess a strong entrepreneurial spirit as well as the organizational smarts to navigate a global corporation. If you're like us, you see this as a "best of both worlds" opportunity: the fast pace and constant changes of an established organization that thinks like a startup along with the resources of a $7.6 billion industry leader. You'll need to be comfortable in the absence of extensive structure -- in fact, you will play an important role in developing the structure we need to find success in the recurring revenue model.
A crucial part of our success at Medeco and across ASSA ABLOY is a culture that places a high value on sharing a common vision, trusting one another, and being transparent. Add in your critical thinking skills and strong work ethic, and you should fit right in. As you can see in the video here, our teammates believe in our products.
You'll know you've found success in this position if you've met the following KPIs within the first year:
- The implementation of policies and procedures to support the structure of a robust recurring revenue model.
- A well-educated sales force that understands the importance of shifting to this new model.
- Strong revenue growth as a result of your activities.
About UsFor nearly 50 years, Medeco® has led the security industry in innovation and quality, guarding lives and assets at facilities worldwide. Medeco® locks are made with pride in the U.S.A. Our headquarters and manufacturing facility are located in Salem, Virginia and we employ approximately 250 people.
Medeco® locks protect U.S. government and military installations, both here and abroad, as well as schools and universities, hospitals and banks, vending machines and parking meters, homes and offices, and much, much more.
Founded in 1968, Medeco® is a market leader in locks and locking systems for security, safety, and control. The company's customer base includes wholesale and retail security providers, original equipment manufacturers, institutional, commercial, industrial, and residential end-users.
Medeco® is an ASSA ABLOY Group company. ASSA ABLOY is the global leader in door-opening solutions -- some you might already use on a daily basis without even thinking about it. The Group offers a more complete range of door opening solutions than any other company on the market. In the fast-growing electromechanical security segment, the Group has a leading position in areas such as access control, identification technology, entrance automation and hotel security. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international Group with some 43,000 employees operating in more than 70 countries. The Group has sales of around SEK 47 billion (US$ 7 billion).
ASSA ABLOY's mission is to provide complete opening solutions, backed by value-added services, to help people feel safer and more secure, thus creating more freedom in their lives.
We are an equal opportunity employer -- M/F/V/D.