Sales Tracking & Why Your Business Needs It
Every business interested in a bottom line needs to implement a proper sales management strategy. Why? The answer is straightforward: all sales operations and ensuing analyses should be clear-cut and streamlined. The sales management process measures and monitors how effective the sales force is at selling and ensuring quality sales support to customers. As such, it’s essential that a business identify, track and evaluate every single step in the sales process in order to achieve expectations. This is where a sales tracking software comes in handy.
In its simplest form, sales tracking maintains records of all sales activities of your business. It follows up on the day-to-day and projects near-term and long-term sales. Sure, you could do this manually, but sales forecasting and sales performance number-crunching aren’t always a walk in the park. In fact, traditional methods like spreadsheets leave ample room for omissions and errors, and are undeniable time sinks.
To ascertain accurate information from the automation software, it is imperative to perform data entry manually and flawlessly. Once that is accomplished, the sales tracking system offers an overview of completed sales deals in additions to quotes and leads in the pipeline. The data extraction process proffered by the software allows your business to create insightful and actionable reports that reflect the trajectory of your sales, the performance of the sales force and business as a whole, which sales techniques don’t bode well with clients, and which strengths and weaknesses might characterize your business.
In short, a sales tracking software furnishes you with key insights that allow you to transform sales prospects into real, tangible customers. You’re equipped with a bird’s eye view of everything taking place in your business, homing you in on every minute detail of the sales process so that you can micromanage aspects that require attention.
Here are some of the advantages of implementing a sales tracking system:
• Managing the quote process
• Managing relationships with and evolution of vendors, staff, and customers
• Logging individual customer performances
• Planning inventory supplies
• Conducting review analyses for losses incurred
A worthy sales tracking system promotes the following:
• Total transparency of each phase in the sales process
• Ability to monitor all customer transactions and interactions
• Ability to execute sales tasks within a single data source
• Extraction of data from multiple sources
• Inventory management of multiple warehouses
• Sales account management, including identifying highest- and lowest-revenue yielding accounts
• Analytics to evaluate individual sales campaigns
• Ability to measure sales gains and losses
• Minimization of work-related stress for the sales force
• Elimination of paperwork and alternating between different computer programs; thus, heightened productivity and monetary savings
Finally, a business would benefit from the reduction of a number of risks that arise in the absence of automated sales tracking:
• Device compatibility for mobile devices, making data accessible anytime, anywhere
• Tracking of customer payments, bills and debts
• Customized reports
• Facile integration with accounting and enterprise resource planning (ERP) software systems
There’s no need to subject yourself to the complex process behind every sale. We at Omega understand and recognize this, which is why we bring you a sales tracking software centered on activity-based selling techniques.
Contributed by Danielle Issa.
Image source: manufacturing.net