High GRR Is Great. But It Can Also Mask Decay. A Real Risk for ServiceNow and Workday in Particular. (opens in new tab)

a16z called Workday “arguably the most important and least loved product in enterprise software.” I’m not sure I’d put it quite there, but the data they used to make the case includes a striking chart: Workday at 97% Gross Revenue Retention, ServiceNow at 98%, both sitting at the top of the public B2B stack rank.... Continue Reading