Sales POP - Purveyors of Propserity
Sales Analytics Software and CRM Solutions
Blog / Sales Management / Aug 27, 2013 / Posted by Nikolaus Kimla / 5679

Sales Analytics Software and CRM Solutions

Sales Analytics SoftwareAre you looking for a sales analytics software?

Do you need to run a proper sales analytics and sales forecasting reports?

A company cannot function without proper sales analytics and sales forecasting—yet many certainly try. A common model is to hold regular meetings between sales reps and a sales manager so that a sales forecast can be worked out. The forecast is then put together by the sales manager, and forwarded onto company executives.

But on what is this sales forecast based? What sales analytics actually went into it? On close inspection, it will be found that a lot of it is based on sales rep instinct or “educated guess.” This methodology leaves a lot of room for error and often results in a sales forecast that is off by a considerable margin.

There are certainly more accurate ways to work out a sales forecast. But the most consistent and positive is with a CRM solution that includes accurate sales analytics that will show you the facts of the matter, every time.

Proper Balance

A sales forecast could be defined as “a proper balance between risk and opportunity.” You obviously want the least amount of risk for the most amount of opportunity.

A CRM solution with intelligent sales analytics will allow the calculation of risk versus reward, sale-by-sale. If each sale is rated by an agreed-upon-system within a company, this then makes it possible for an overall forecast to be conducted which will then give a more accurate picture of sales in the pipeline and their likely results.

Additionally, such a system allows prioritizing sales actions—visits, calls, emails and so on—to be done with much more confidence on a daily basis.

Sales Analytics Software and Its Real-Time Data

An intuitive CRM solution makes it possible for other real-time data to be gathered. For example, this data includes elements such as average length of time at a particular step of the sales process (pipeline) which will give you the length of time it should take for a sale to move onto the next step. Summated, this data is also of great assistance in figuring sales velocity and creating a more accurate forecast.

Another factor is that of closing ratio—which could be calculated as an overall average for the sales team, for each sales rep and even for separate product lines. As such ratios change constantly, this would also be real-time data that would be calculated into the forecast.

Sales Rep Performance

A key element of a sales manager’s job is evaluating sales rep performance. Unfortunately this, like sales forecasting, is often done with a measure of guesswork. Human elements such as rumor, slander, or (in an opposite way) favoritism or unjust recognition can certainly play their parts as well.

The more accurate the CRM solution, the less guesswork and emotional issues figure into sales rep evaluation.

They are judged strictly on the merits of their work—what they are moving along their pipelines and actually closing.

This type of functionality also gives the sales manager the capacity to “look don’t listen”—with precise and complete data to hand, the sales manager cannot be swayed for the positive or negative by verbal or opinionated accounts of sales activity.

Empowering Sales Reps

While sales analytics and sales forecasting are often used to keep an eye on sales reps and make sure they are meeting quotas, a flexible, intuitive CRM solution with precise and usable sales analytics actually makes it possible for sales reps to be greatly empowered. The best possible person to perform a sales forecast for a particular sales rep is that sales rep. Nobody knows their particular pipelines as well as they do. Given accurate, powerful and rapid tools, salespeople themselves can create forecasts and gain far more ability to manage their pipelines (by plezia). In a truly advanced scenario, the sales reps could even forward forecasts onto their sales managers, allowing sales managers to simply compile, modify and forward the forecasts so created.

The more accurate a company’s ability to perform sales analytics and forecasting, the better that company is going to be at meeting its sales goals, and perform in its market and industry. That ability is best brought about through a robust, flexible and intuitive CRM solution.

Watch for more articles in our series on sales analytics and sales forecasting.

About Author

CEO and partner of pipelinersales.com and the uptime ITechnologies, which I founded in 1994 and has since played a significant role in the development of the IT-environment. pipeliner is the most innovative sales CRM management solution on the market. Pipeliner was designed by sales professionals for sales professionals and helps close the gap between the requirements of C-level executives for transparency and the day-to-day operational needs of field and inside sales. I am also the founder and Initiator of the independent economic platform GO-AHEAD!, which orientates itself on the principles of a free marketplace in terms of liberal and social responsibility. Connecting people, the trust of business leadership in terms of values such as freedom, self-responsibility, and entrepreneurial spirit, and strengthening their awareness in order to create a dynamic boost within the economy triggered through spontaneity, all stand for the initial ideas surrounding GO-AHEAD! I studied in Los Angeles and Vienna and received my Masters's Degree in 1994. I am married and have 3 children My Specialties are in: Sales Management, Sales CRM Software, CRM Cloud Solutions, SAAS, Business Strategy, Software Development, "Pipeline Management", Social responsibility, outbound sales, b2b sales, inside sales, sales strategy, lead generation, sales process, entrepreneurship, coaching, mentoring, speaker, opportunity management, lead management, Austrian School of Economics

Author's Publications on Amazon

This is a practical manual covering the vital subject of Sales Management. I firmly believe that sales are the most important profession for dealing with today’s turbulent world and Econo my, for salespeople create wealth and produce peace. But salespeople need a competent, stable leader—and…
Buy on Amazon
Inside this eBook, you’ll discover a series of chapters dedicated to some of the most important areas facing sales today. From the sales process definition to measurement, lead generation, and proven sales techniques, this comprehensive eBook will provide you with the information you need to…
Buy on Amazon
A common term in sales today is EQ, which stands for “emotional I.Q.” It means the skill a salesperson has in reading emotions and utilizing them in sales. It means empathy and a number of other abilities. The short version is, it’s an I.Q. when…
Buy on Amazon
People are smart to question the future of automation, for it has become part of everything we do. With the quantity of applications and technology around us, we yet still crave more. We become convinced of its power when our package is delivered from Amazon…
Buy on Amazon
Sales management isn’t a simple subject by any means. But at the same time, it does have some basic and somewhat simple fundamentals—and that is what we are bringing to you with this book. First come pain points of sales management, and how to overcome…
Buy on Amazon
Today the Internet has transformed a seller's market into a buyer's market and author Nikolaus Kimla states that the role of sales has never been more crucial. It is now time to give salespeople the role they factually can play: entrepreneurs within the enterprise. They…
Buy on Amazon
This is our public declaration of the intentions behind Pipeliner, and our objectives and motives for the product and for our company. Behind the development of that CRM application and, in fact, behind everything we do, we have a real cause. The story begins with…
Buy on Amazon
For the future, there must be a perfect balance of humans and technology. You have to have the perfect technology, andthen the perfect human being in application, performance and presentation. Today and into the future, it’s a 50-50 balance. In the past it was perhaps…
Buy on Amazon
The salespreneur is based on the concept of the entrepreneur. Before we can explain the salespreneur, you have to have some understanding of the entrepreneur. The entrepreneur plays a crucial role in any economic system. The entrepreneur seeks out information that can be utilized for…
Buy on Amazon
A seasoned captain would never leave port without a competent navigator. In a similar way, a sales manager might be a total ace at "commanding the ship" – at inspiring and coaching sales reps, pointing out and getting agreement on making quotas, and keeping everyone's…
Buy on Amazon
..
..
..
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. For information on cookies and how you can disable them, visit our privacy and cookie policy.