Do you know when it’s time for the Sales team to move to an ERP? Do you want to maximize your team’s productivity and monitor the sales process with a system?
If your answer is No to any two of the below questions – it is high time to consider evaluating the right ERP for your business:
- You do not have an idea or estimate of the leads in pipeline?
- Is every opportunity, regardless of small or big is captured into the system?
- The count of every RFQ & Sales Order raised in place/available for review?
- Estimation of conversion ratio (quote to order) is readily accessible for view?
- Your sales head count is large and leads are less, any tool to access sales employees?
- Does your sales team feel motivated or appreciated for extra efforts?
This article will help you understand your sales needs and evaluate the right ERP for you. First and foremost, understanding your sales process and betterment of the system is required to effectively monitor the status of leads are crucial.
Capturing Opportunities: As the famous saying goes, “Opportunity knocks the door only once”, so capturing every single opportunity coming your way is the first effective step in increasing sales of your business. If your sales team size is equal to, or more than 10 and each of them capture more than 10 leads a day, an ERP is required to monitor the opportunities. More the visibility, easier it is to have a hold on each lead and optimizing the approach to close the deals. An ERP helps in effectively capturing each lead into the system which can be viewed even at a later stage for reference.
Estimation of qualified leads: When each opportunity is captured, the depth of the lead can be analysed for closure such as warm, cold & hot respectively. If you are currently unable to understand the number of qualified leads, an ERP will be of utmost importance to implement.
Customer Relationship Management: CRM helps in identifying each customer relationship with the company so even if there is a change in employee, it does not affect the relationship of the customers. If frequent employee changes results to misunderstandings in customer handling, an ERP is required to resolve this issue.
Lost Opportunities: Any lost opportunity today can turn into a future prospect so capturing of lost opportunities for later follow ups turn fruitful in most sales closures. The lead once entered into the system, can be used for marketing purposes or data tracking to understand or correct mistakes if any required from the sales team. If your business does not have any access to the lost opportunities, how can one’s business improve without feedback, ERP will be handy in this situation.
Sales Team Motivation: Employee retention is a major aspect of any company and even more, increasing their productivity is an issue. To achieve this – an effective incentive program is required which in turn can be done only if we can track the sales team’s efforts and conversions. If you are not aware of your team’s strength, progress or achievement, an ERP will help you reward the best and replace the idle ones.Conversion Ratio: The most important challenge for any organization is to understand their business conversion ratio in order to improve the process. An ERP aids to analyse the conversion ratio of your team on the whole and individual performance as well, it helps to understand product’s market value and also the services offered to customers.
Hope this article can help you understand your business and the need of an ERP on the sales perspective. As famously said – “Sales is an outcome, not a goal. It’s a function of doing numerous things right, starting from the moment you target a potential prospect until you finalize the deal” 😊