How long should a selling representative wait to convert a potential customer into a closed deal? We always end up with this crucial question because the sales process of the company must not seem too forceful or unprepared. On the contrary, if you wait too long and the lead conversion period is too high, you might miss the golden opportunity. Due to the existence of this dilemma, the sales cycle is very crucial to ace the deal. The sales cycle provides a comprehensive synopsis of the selling process of any brand or business. It is an amalgamation of several stages, which starts from the lead generation to closure of the deals. There is no fixed definition of sales cycle and it differs based on the types of the business (such as B2B and B2C). Given this, it becomes crucial for any organization be it SME or large business organizations to optimize their sales cycle.
EasyReports BI (Business Intelligence) plays an important role here for business owners and sales heads with its data insights, customized sales reports and drill down drill up dashboard, which is a single screen overview with multiple data points.
The BI tool can be integrated with transactional software’s like Tally ERP 9, Microsoft NAV and SAP B1 for its data input thus removing human intervention. It is loaded with useful features to make business reporting easier for both SMEs and large companies. These include advanced web support that make reports available anywhere, reporting service that can send automated emails and alerts, and improved reporting across sales, debtors and inventory.
EasyReports can help manage sales cycle in the following ways:
Generate sales reports
Successful implementation of a sales cycle is dependent on an efficient sales team. Business owners can monitor the progress of the sales team with comprehensive sales reports. EasyReports BI can generate customized Daily, Weekly, Monthly Sales Report; Salesperson and Manager Wise report; reports with Pending Orders; provides Customer Rankings; and does Contribution Analysis.
This enables business owners and sales heads to monitor Target Vs Actual revenue achieved by salesforce on individual basis, measure KPIs set for sales team, provide comparative sales figure analysis, and display real time revenue for a defined period, area wise/zone wise, channel wise and product segment wise. In a sales cycle, this is helpful to track the position of business.
EasyReports BI can generate salesperson wise reports. This is very helpful in monitoring the performance of individual sales agents. The detailed sales report provides insights such as sales revenue achieved on a monthly, quarterly or yearly basis, the sales cycle closure time of individuals, daily units sold and so on. It helps business owners to identify a good resource. They can make the most out of sales personnel by setting individual targets accordingly. This way, a sales agent will never be in hurry to close a sales cycle, thus, giving them enough time to carry on the whole process.