All sales managers, whether in retail, wholesale distribution or manufacturing, face the same pressure to reduce costs while increasing sales. Most sales teams are responsible for managing the sales of multiple product lines with a variety of products in each line.
Additionally, sales teams often have numerous of customer relationships to cultivate and maintain. At Phocas, we know sales managers seek new ways to optimize their sales process without having to invest a large amount of time analyzing their data.
Identify why sales are down in particular branches
When sales are down in one or more particular branches, it can impact the overall profitability of your business. When this happens, there are a number of possible causes.
For instance, a competitive wholesale distributor may be offering a bulk discount or free delivery for the purchase of 10 or more furnaces. Possibly another retail store is attracting customers by offering a deep discount on a popular brand of shoes and then cross-selling a high dollar handbag.
Or perhaps, a new sales rep is not familiar with your entire product line and isn’t making the most of their sales opportunities.
The easiest way to identify the problem is through the use of a quality business intelligence (BI) tool. Tools like Phocas gather all of your data from ERPs, CRMs, or other databases and data sources you have.
Once your data is gathered into one location, your dashboard will reveal the reason your sales at a particular are down. BI removes the guesswork and the long wait for an IT generated custom report.
Your dashboard enables you to quickly drill into the data to see how each product line is performing or how many products each sales rep is selling and more. Your BI allows you to easily identify why these two branches in particular are performing below expectation.
As John Goodrham, the Chief Financial Officer for CoolDrive and Phocas client said, “You can drill down into a product category and suddenly it jumps out that radiators are performing a lot better this year. You can query what factors are driving that.
Is it location, sales rep, category or product? Or you run a sales rep report across product category and see you’re down x % across a number of reps. There may be a pricing issue, but you know it’s not driven by an individual rep.”
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Category: Business Intelligence Software Company profile: Phocas Software is a leading business intelligence software firm created by Myles Glashier and Paul Magee in 1999. Phocas has built its model on exceeding customer expectations. We help our customers make data-driven business decisions, uncover new sales opportunities and improve business efficiency by offering an integrated data solution. Whether you are an IT Manager who would like to spend less time performing reports, a Finance professional looking for a quicker way to drill down on a P&am ...
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