sales dashboard gauge

Free eBook: 6 Brilliant Sales Leader Dashboards

More sales data = More analysis

The most successful B2B companies are good at analysing their sales pipeline, tracking performance metrics (KPIs) and forecasting with accuracy.

Yet, many still sales leaders find these tasks manually intensive and time consuming. Who wants to spend late nights grinding over spreadsheets or preparing for weekly meetings?

As customers and business processes continue to generate even more data, manual sales analysis and reporting become even more time-consuming. By the time spreadsheets are up-to-date, they may be out-of-date.

Automated reporting

What’s the solution? Automate reporting! Why should you have the hassle of updating forecasts, tracking activities or measuring performance when technology can do it for you?  With a sales dashboard, data is gathered into one place and presented in the way you want – without manual work.

Dashboards make ‘saleslife’ easier

Dashboards organize information into reports, enabling users to view updated figures from laptops or mobile phones.

You can track budgets or volume targets, monitor key pipeline metrics, analyze profitability and answer key business questions.

This free eBook shows 6 illustrated examples:

  • Sales budget dashboard
  • Sales pipeline dashboard
  • Sales commission dashboard
  • Motivational scoreboard
  • Customer satisfaction dashboard
  • Product analysis dashboard

How Kopinor is putting data to work for members

Kopinor licences the use of copyright protected works on behalf of authors and publishers. The organisation manages agreements and reimbursements between 22 members organisations including 5 publishers’ associations and 17 authors’ associations.

With effective use of data and business analytics, Kopinor is making processes run smoothly for its members.

Meet Tom….

Tom Karlsen is System Administrator at Kopinor.

In addition to managing and maintaining systems, he also looks for new ways to improve data quality and workflows. He wants to help colleagues effectively serve Kopinor members.

We asked him what he’s been working on and why business analytics is important to Kopinor.

Here’s what he said:

Millions of records captured in CRM and ERP systems

Data is the foundation for much of what we do.

Our ERP and CRM systems capture millions of values about copyright holders, licenses, agreements, collections, payments, rights, obligations, and other details.

These systems help us effectively manage agreements and reimbursements between 22 members organisations including 5 publishers’ associations and 17 authors’ associations. Last year, we distributed NOK 280 million to Norwegian and foreign rightsholders.

I’m part of the team that’s responsible for system optimisation and data management. We ‘re continually examining data capture and information flows and asking ourselves:

  • How can we make processes more effective?
  • What data and insights do we need in order to best serve our members?
  • How can we access information in the best way?

There’s a long list of projects we are currently working on.

Issues with system upgrades

We’ve made some significant changes during the past 6 months because we ran into issues when we upgraded software. This got to be a real headache.

We had 12 smaller components working together to input or exchange data with SuperOffice CRM and our ERP system. The set-up was too complex with too many moving pieces.

To solve this issue, we eliminated extra components and added input fields directly within SuperOffice. Then we looked for a clever way to extract data from our systems and organize it for different goals, roles or tasks.

We  chose Business Analyze and introduced it to users. Business Analyze extracts relevant data and sorts or filters it into lists and reports. The results are displayed on dashboards.

In some cases, we also embedded dashboard reports back into SuperOffice. What better way is there to access information and keep on top of things when you already use SuperOffice?

More efficient with business analytics

Business analytics help us work effectively. We distribute relevant insight to different parts of the organisation in seconds. Without analytics we couldn’t serve our members as quickly.

Our leaders use Business Analyze to monitor key targets and guide overall business management. We used to have 30% response rate when we sent members one specific type of mail request, for example, but we now we have 80%.

Our consultants use Business Analyze dashboards as part of their daily work. They see important information about member agreements and can answer questions fast,  without running long queries or searching through databases.

We have dashboards for:

  1. Control purposes
    For example to ensure accurate reimbursement or invoicing according to agreement terms. We run queries directly to Visma ERP.
  2. Workflow efficiency
    We use dynamic work lists so people know what stage a task is in and what is on their ‘to-do-list’.
  3. Goal tracking
    We measure goals including how many mail responses we receive back (return rate).

 

This ‘self-service’ dashboard is set-up so users can quickly answer questions about members, processes and renumeration without having to login to different systems or understand how they work.

Business Analyze has made a big difference. We rely on it to tell us the status of almost anything! As long as we have the data, it tells us the answer.

 

About Kopinor
Kopinor licences the use of copyright protected works on behalf of authors and publishers.

Industry: Information Sector
IT Systems: SuperOffice CRM, Visma Business ERP, Emarketeer, Business Analyze
IT Partner: Ganske Enkelt

www.kopinor.no

Business Analyze and i-Centrum partner to deliver business analytics for Swedish B2B companies

Oslo and Gothenburg May 8, 2109

SaaS business analytics platform provider Business Analyze and Swedish CRM specialists i-Centrum, announce today their partnership to provide fast and effective business analytic solutions to B2B organisations across Sweden.

By combining data analytics and visualisation technology with consulting expertise, the companies will offer increased value to current customers and growth-seeking B2B organisations.

The new partnership will help businesses use data to optimise processes, generate revenues and improve sales, marketing and customer experiences.

“We’re very glad that i-Centrum will be our local sales, consulting and implementation partner. We believe the two organisations have an exciting match of comptence and cultures that will benefit customers,” says Einar Gynnild, CEO at Business Analyze.

“Last year we started ramping up in Denmark to meet steadily increasing demand for business analytics. Now, by partnering with i-Centrum, we will be better able to serve Swedish organisations. Our goal is to be the leading provider of business analytics in Northern Europe.”

Business Analyze reported 77% growth in demand for its cloud analytics solution in 2018. As more processes move online with greater speed, businesses use analytic dashboards, scoreboards and reporting tools to gain fast answers to questions about customers, behavior, and performance – across business units and functions.

“Business analytics is an important part of our service offering. We are excited about this partnership because what Business Analyze offers is different than any other analytics platform,” says Filip Vanthöm, CEO at i-Centrum.

“On one hand, it is closely woven together with SuperOffice, enabling our existing CRM customers to plug into it and gain new perspectives in as little as seconds. On the other hand, it connects to many other well-known data sources and is easily adapted to unique user cases. We look forward to many new projects.”

Business Analyze and i-Centrum invite customers and CRM enthusiasts to explore the power of analytics and join us at SuperOffice Market Expo 2019.  This will be a day to celebrate partnerships, share experiences and learn about developments in CRM, data analytics and digitalization.  We will be hosting product demonstrations throughout the day and are proud sponsors of this upcoming event.

www.businessanalyze.com

www.i-centrum.se

Contacts


Einar Gynnild, CEO at Business Analyze
einar.gynnild@businessanalyze.com
Tel: +47 993 50 760

Filip Vanthöm, CEO i-Centrum AB
filip.vanthom@i-centrum.se
Tel: +46 704 19 99 60

3 Steps to Data-driven Sales Coaching

Christoffer Bergstrøm, Sales Director at House of Control, discusses the impact of data-driven sales coaching.

More than 100 people recently registered for our webinar ‘How to sell more with data-driven sales coaching.’

Since this topic was so popular, we’ve summarized the webinar ‘take-aways’ into 3 steps. Each step includes a list of key sales reports to help you guide coaching meetings.

Why data-driven sales coaching?

‘Data-driven’ means having a systematic approach to sales coaching based on quantitative sales metrics. Rather than starting coaching sessions based on a personal understanding, each session starts with clear, measurable expectations that both parties agree on. From there, you systematically review what’s happened and plan next steps, developing one area at a time.

From a coaches perspective, a data-driven approach makes coaching easier and more effective. Not only will you help reps hit their targets in the short run, you help them develop a better understanding what they can do, on their own, to be more successful in the long-run.

For example, sellers may be clear they have a monthly budget, but do they know exactly how many new opportunities this means?

From a sellers perspective, data-driven sales coaching is easy to understand. There’s no ‘fluffy’ terms or uncertainty. Every goal is measured and sellers can take control of their own development, without being forced to rely on anyone else.

Keys to success

Data-driven sales coaching employs well-known, but sometimes overlooked techniques:

  • Base coaching on measurements and actions that increase sales
  • Recognize sale performances to reinforce desired behaviors
  • Coach often – set fixed times for meetings

Before you start, it’s important to clearly define your sales process and ensure the process is set-up correctly in your CRM system. There should be one process per sales type.

If your sales data is inaccurate or poor quality, don’t worry. As you and your teams use data, the quality will improve because all the parties see its advantage. It is a ‘win-win’ situation.

Step 1: Determine what is required to reach budget

A good starting point for coaching discussions is to agree personal target revenue with sales reps. This is usually a breakdown of your company or team budgets.

From here you can reach a common understanding of sales pipeline requirements and ensure targets are realistic.

This includes reviewing:

  • How much (# opportunities and value) needs to be in the pipeline in order to hit monthly target?
  • How many new opportunities (# cases and value) need to come into the pipeline (refill)?
  • What is the difference between actual and required?

The pipeline requirements, are calculated based on a person’s 4 key sales velocity metrics. These include: number of opportunities, hit rate, average deal size, and lead time (also called ‘sales cycle’).

In the example below, John has a budget of 100,000 Euro per month. Based on the last 6 months, he has 44 opportunities per month, a hit rate of 55%, an average order size of 17,707 Euro and lead time of 65 days (2,18 months). Assuming these factors stay the same, he needs 181 034 Euro in new opportunities per month.

Example: Pipeline Requirements Calculator

If a person joined your team 6 months ago, they might need a ramp up time. In this case it might make sense to base pipeline requirements on their sales velocity for the last 3 months rather than all 6.

Once pipeline requirements are established, each sales rep has their own roadmap. This makes it easier to control and change what’s happening. It’s much better, for example, to know there are too few new opportunities before the end of the month, so there is time to do something about it.

Using the same calculations as above, you can stretch the limits and test different scenarios. What happens if hit rate increases 2% or lead time decreases by 1%? Which one of the variables gives the greatest improvement? Even a minor improvement can have a major impact. Maybe you want reps to focus on one of these KPIs for the next 6 months?

Step 2: Secure movement through the pipeline

Coaching sessions should include a look at activities. Without a planned activity to move cases from stage to stage – they risk being lost or forgotten.

One challenge, however, is sorting our the cases that are moving as planned, from those that aren’t.

In this case, the following reports are useful:

  1. Cases past the decision date.
  2. Cases without a planned activity. e.g. email, phone call, new meeting
  3. Cases that have an activity planned, but the plan hasn’t been followed.

With this information it’s easier to spot potential issues. At meetings, you can discuss ways to solve them.

Step 3: Evaluate the sales process and plan ahead

The final step is to evaluate sales processes and analyze data. The analysis gives deeper insight about what you can do sell more effectively.

Different views of sales data are needed to analyze results. A single view of the pipeline doesn’t give a clear picture.

Key reports used in analysis include:

  • Forecast and sold versus budget – review current period and discuss upcoming forecast per month and accumulated
  • Pipeline requirements report – gain visibility into status and spot variance from target
  • Open opportunities by stage and close date – manage opportunities and evaluate
  • Win/loss report – understand win/loss rates and reasons
  • Lead source report – review the best source of leads
  • Sales per segment or product – see whether reps are working strategically towards the right customer segments
  • Activity reports – spot trends and make comparisons

These reports provide valuable information about sales processes. While there is certainly a mix of skills that are important to being a good sales coach, using data to understand performance is always a good start. As the amounts of sales data increases, the more insight that data gives us.

Get your sales coaching reports

Interested in calculating your pipeline requirements or learning more about how Business Analyze can help you coach reps to success? Contact us here 

 

 

Smarte triks som kan forandre din salgsrapportering

«Salgsrapportering er et stressmoment. Mange bedrifter opplever at måten de rapporter på ikke lenger fungerer» sier Ann Kristin Søraa. «Da hjelper det å kartlegger prosesser, utnytte digitale systemer, og forenkle rutiner. Det er vanligvis mye å hente. Ingen ønsker å jobbe lange dager før styremøter, ledermøter eller andre presentasjoner som må gjøres i organisasjonen.»

Ann Kristin Søraa er en av våre konsulenter og har mer enn 16 års erfaring med CRM og kunders suksess. Hun hjelper bedrifter av alle størrelser.

«Salgsrapportering i bedriften foregår veldig ofte i spreadsheets. Daglig leder mottar ukentlig eller månedlig rapporter fra salg. Om det er feil i rapporten sendes den fram og tilbake for revidering. Om det er flere salgsenheter i bedriften går Excel dokumentet gjennom flere lag i organisasjonen med endringer, oppdatering og sammenstillinger. Det blir ofte mange endringer i dokumentet, med påfølgende e-poster fram og tilbake.»

Ulike utfordringer knyttet til rapporteringen

«I enkelte tilfeller kan denne metoden være helt grei, men det blir ofte tydelig at bedriften har ulike utfordringer knyttet til rapporteringen:

  • Dataene blir fort utdaterte samtidig som det er ressurskrevende å sammenstille rapportene
  • Selgerne ønsker ikke å bruke tid på å registrere samme informasjon flere steder, både i CRM systemet og i Excelrapporter, når de egentlig har mer enn nok med å oppdatere informasjonen og nå sine mål
  • Ledere ønsker ikke å bruke unødvendig tid på å sammenstille data og lage rapporter

Dette gjør at etterspørselen etter enkle, visuelle rapporter i sanntid har økt.

«Det er på tide å kvitte seg med spreadsheets, eller i hvert fall seriøst vurdere hvordan rapporteringsrutinene kan forenkles»

– Ny programvare gjør rapportering mye enklere og mer effektiv. Det er gjerne bedrifter som er åpne for endringer og utfordrer måten ting blir gjort på som finner effektive prosesser for å styrke bedriftens beslutningsgrunnlag på. Disse skiller seg ut i markedet.»

Erstatte gamle metoder med nye

Gudbrandsdalens Uldvarefabrik valgt å erstatte gamle metoder med nye. Daglig leder Jan Skrefsrud sier at «Automatisk salgsrapportering er definitivt veien å gå. Tidligere benyttet vi som mange andre Excel, men vi ønsker ikke at selgerne bruker unødvendig tid på dobbeltregistrering av salgsmuligheter og aktiviteter.

– Vi tror det blir store gevinster. Det nye dashbord og analyse verktøyet gir nyttig oppfølging av våre salgsprosesser. Både ledelsen og den enkelte selger får nå relevante oppdateringer – i sanntid, når vi selv ønsker.»

Har du SuperOffice CRM? Slik går du fra manuell til automatisk rapportering

Det er ikke så mye som skal til for å få til en automatisk rapportering. De grunnleggende stegene er:

    1. Opprette rapporter – Grunnpakken i Business Analyze inneholder mange ledelses- og salgsdashbord som henter informasjon rett fra SuperOffice.
    2. Sjekk datakvaliteten – CRM-systemet er master for all data. En av fordelene med automatisk rapportering er at du veldig raskt kan se hvor bra datakvalitet dere har i databasen, hvor dere har brister i underliggende data og hvor potensialet ligger for bedre bruk. Forbedret datakvalitet gir en stor gevinst for alle. Gode beslutninger baserer seg på gode data.
    3. Kommunisere og oppmuntre til bruk – Sørg for at alle er informert om de nye rapporteringsrutinene og gevinster ved bruk. Bruk de nye rapportene i alle møter! En dedikert superbruker kan få tilbakemeldinger fra brukerne og gjøre løpende forbedringer. Et lite kurs for superbruker(e) kan være nyttig. Vanlige brukere trenger vanligvis ingen spesiell opplæring.

    «Jeg har ennå ikke vært hos en bedrift som har gått tilbake til Excelrapportering etter at de har fått tilgang til sine rapporter via visuelle dashbord. I fremtiden vil vi også se utvidet bruk i form av å knytte flere datakilder til rapporteringen. Dette kan være data fra både CRM-systemet og ERP-systemet, eller andre fagsystem. På den måten vil bedriften få en større oversikt over hvor potensialet for optimalisering av bedriften ligger» konkluderer Søraa.

  1. Updated February 7, 2019. Originally published by our partner CRM Insight.