Today, senior managers are no longer the only ones responsible for providing timely information. A modern company's operation also relies on the active participation of the middle managers and head of departments. The more the managers are involved in the process, the more a company will grow.
How much information does your organisation have? In which way is it helping your company growth? Information sources are abundant and its applications have no boundaries. However, in this article I will explore the impact these sources can have on sales.
Lets start by analysing the information provided by your sales department: an in-depth analysis might let you know about your client-specific sales, the products, delivery route, region, agent, branch, customers, etc. Add the product characteristics, the amount or quantity sold, discounts, product type. Now, can you get that information from sales? If so, how long does it take you to gather that information every time you require it?
You may be able to identify that you have 200 customers from which 80% of your sales come from. You now have enough information to develop a targeted strategy in order to get 100 more customers in six months. Do you see the potential in the proper and timely use of information in your company? A by-product of this information may be that a couple branches have decreased sales consistently for two months. That triggers a preemptive analysis to understand the causes and come to a sane resolution before it even makes you lose those valued customers.
With good information you may even conclude that your most valuable salesperson is the one that gives discounts to everyone. This obviously changes the perspective and the idea you have about that salesperson, and it may give you better insight on how best to distribute commissions among your sales team.
If, on the other hand, you detect that your sales are improving due to price increase on the products you sell, you may decide to focus on strategies that emphasize on market positioning rather that producing more.
It is highly likely that you have already answered the previous questions, rhetorical as they may be; however, consider the following recommendations:
- Encourage managers to produce analysed information
- With this information, let your senior managers develop and lead new strategies
- Inspire your people that work must be focused on results. This includes the attention to innovation rather than sticking to the objectives of current operations.
- Every initiative at some point transforms into results, that in turn increase organisational competitiveness, helping your company grow as a whole.
Getting this information is actually very easy having the right tools. You may not want to hire specialized personnel to manage your databases or data warehouses. Software tools should help you streamline information alongside operation. Information should flow as you use those technologies and you want to get timely information quickly without compromising the maturity of your processes. A software like this should lead to to an improvement in your personnel’s quality of life.
In LOVIS, we have a very powerful tool that provides you with the analysis you need when you need it. It doesn’t matter if it is the first or the last day of operation. With LOVIS, you will always have timely information.