Traditional CRM software usually misses the boat on the actual purpose of a CRM solution, which is to increase sales velocity. Instead of serving merely as a monitor for salespeople, it should actually empower sales reps to sell better and faster. The data entered into CRM should assist sales reps in moving their sales forward. Fortunately or unfortunately, this has only recently been realized and we’re just now beginning to see CRM functionality which truly moves sales forces forward toward these goals.
Sales Velocity
What kind of functionality would actually be of such assistance? With at least one CRM software, we’re now finding out. It should be logical and intuitive, enabling a company to configure CRM to mirror of a company’s sales process. It should be a central point for all communication relating to a sale—including email from all applicable accounts and social media platforms.
It can be seen that such features contribute to the overall sales velocity. While such a benefit has been rather ignored in the past when it comes to CRM, it is finally being realized that the faster a sales cycle completes, the higher the number of sales that can occur within a given sales period. Sales quotas are more regularly attained or even exceeded.
Hence we can add yet another feature to the mix which greatly assists sales velocity.
Auto-Calculated Fields in CRM Software
As a sale proceeds along the sales pipeline, certain calculations are necessary. For example, what will be the commission on a sale? When all costs of the product, manufacturing or development, shipping or installation are taking into account, what will be the actual profit margin? There also might be time-sensitive issues involved: what will be the costs to deliver earlier rather than later?
Sales management and financial executives are always keeping a keen eye on profitability. Gross income from sales means one thing, but how much of that income is profit is another. Increased profit means increased company security and ability to expand. It is the very future of the enterprise.
A salesperson may or may not be interested in the answers to such questions—he or she is normally tightly focused on simply bringing that sale through the door. But if it can be readily and visibly seen which sales are going to be the most profitable, the sales rep (as well as management) can make those the priority, knowing they will do the most for the company.
Such calculations are usually figured outside of CRM software, which means they are being made outside of the context of the sales themselves. If these calculations are having to be made in a spreadsheet, for example, the individual making them is constantly having to switch back and forth between CRM and the spreadsheet. A sales cycle must be checked for progress, then the latest figures entered into the spreadsheet for calculation.
But if such calculations related to opportunity management could automatically be made right within CRM, considerable time and effort could be saved. And they can be—with auto-calculated fields. Such a field can be easily configured, and then dragged and dropped into CRM at the appropriate stage or stages of the pipeline. With no added effort, anyone can simply look over the sales pipeline and readily see which sales will be the most beneficial for the company and should be focused on as a priority.
Auto-calculated fields is yet another feature that makes it possible for a CRM software to vastly improve sales velocity. In the sales game—and in the commerce game—speed of profitable sales is what it’s all about.
Auto-calculated fields is only one of the breakthrough features of Pipeliner 6.0, coming in a few short weeks. Subscribe to our RSS feed and be the first to try it out. Get your free trial of Pipeliner CRM now.
