10 methods of revenue growth with an ERP system
Revenue growth is a major goal of any company. It is true that under most current economic conditions most managers are trying to focus on reducing costs as much as possible, but that does not mean that they have distanced themselves from the main purpose of continuously boosting sales.
Choosing an integrated ERP system can make a significant contribution to improving the company's sales process, increasing customer satisfaction
But how can you increase your sales with an ERP system?
EFFICIENT THE ACTIVITY OF YOUR COMPANY
1. Choose an online application
While some activities have as objective only the proper functioning of certain departments, the sales activity is one that concerns the whole organization. An efficient sales process involves coordinating all departments to achieve the desired response and
Online ERP system:
Facilitates communication between people, departments and work points
Provides access to last-minute information and
Ensures real-time availability of inventory, pricing, customer and vendor data
2. Define and automatically apply commercial policies
A profitable sales activity starts
Complex ways of granting discounts, based on various criteria, such
as:product group, sales value or quantity limits, customer types, etc.
Possibility to set credit limits for each client, payment terms and the option to restrict the sale to certain customers if they are exceeded
A system of automatic take-over of commercial policy by documents, namely: automatic calculation of prices according to established discounts, updating
ofcredit limits or insertion of the payment term.
3. Manage sales divisions
With product portfolio growth, it becomes impossible for a salesperson to focus well on the entire portfolio, favoring those products with easy sales, with competitive advantages such as price or position in the specific market segment. In this case, it is necessary to divide them according to certain well-defined criteria, in order to favor the distribution of the sales effort.
Using the ERP system:
It is possible to divide the sales force into divisions, each of which is equally allocated to portfolio products. Thus, the temptation to promote only slightly sellable products can be eliminated
You can manage a business relationship with a partner regardless of whether it is running through one or more sales channels, on different product ranges, on different price lists, with specific payment terms for the division etc.
4. Implements an efficient commissioning system
The proper motivation of sales staff is extremely beneficial, resulting in more than satisfying results. You can choose to implement
The ERP system helps you establish a transparent bonus policy based on well-defined parameters such as sales volume, distribution, cashing, payment terms, etc.
Having complete ERP information on sales activity, you can consider all aspects, such as setting limits for granting discounts and applying penalties if they have not been met
You have a complete report on the bonus calculation, extracted from the ERP system, which you can put at the disposal of the agents
CHOOSE ALTERNATIVE CHANNELS FOR SALE
5. Increases team productivity on the ground
Sales opportunities identified in the market can be quickly registered in the SFA via personalized questionnaires and are sent to the headquarters as soon as possible in order to start the necessary procedures for winning them
The system allows the sales manager to define different binding activities per customer or group of clients, which he can then track easily, making sure they are respected by all sellers
Users have direct access from the mobile device to ongoing promotional campaigns as well as data on new or discounted products and can present them to customers during the visit
Includes merchandising features, ensuring the correct positioning of products on the shelf. The mobile user can quickly verify that the agreed arrangements for product placement are complied with through the planes available in the SFA
The SFA is target-oriented, representing an effective way to motivate employees and boost sales. Users have access to their own sales or team goals, and so they know at all times what effort they have to put in to reach them
6. Promote your business in the online environment
Whether you're addressing the B2B or B2C segment, selling sales or consulting, an online portal is an effective way to increase sales. Depending on the specifics of your business, you can choose to deploy an online
Access to new online promotion methods such as banners, newsletters, and a variety of marketing tools: coupon systems, promotional prices, quantity or quality discounts, special product pages, associated products or gift products, 2 + 1 promotions, etc.
The ability to address new categories of customers who prefer online trading to the detriment of traditional ones
Availability 24/7, which means you are no longer limited by the number of employees or the work schedule
All client orders automatically end up in ERP, CRM prospecting queries, and pricing, trading policies, stocks, and partner information are available in real time and on the online portal.
7. Optimize sales activity through its own stores
Another way to increase sales is to open up their own retail chains. Through them, you can increase your commercial independence. The POS system is the complete solution, software
You have multiple payment options
You can offer complete loyalty programs to your customers, with support for micropayments and microcredit
It can be integrated with weighing equipment, tax printers or cash registers
BETTER RELATIONS WITH CUSTOMERS
8. Increases the order of honor of the orders and the quality of the delivery services
When buying products from you, customers want to receive them in the shortest time and in the best conditions. That's why it's important to make sure that the logistics chain, with everything that involves it: optimize, store, and deliver goods is managed as accurately as possible to ensure the optimum ratio between customer satisfaction and business profitability. The Supply Chain Management solution that we provide is integrated with ERP and helps you:
Process faster customer orders, which are automatically transmitted from the ERP system directly to the warehouse. Thus, the order arrives in the warehouse shortly after it has been placed and it can immediately begin its preparation
Increase the accuracy of customer orders, the possibility of mistaking the products requested by the client is much smaller. Even new employees will quickly find the right merchandise with the WMS
because they are tagged and can be identified with mobile barcode scanning devices system ,
Delivery time decreases due to optimization of the route with the fleet management features available in ERP. In addition, you increase the availability of cars, always ensuring that documents for drivers and vehicles are valid and that revisions have been made on time.
Synchronize sales with distribution, thanks to inventory
9. Manages integrated sales, marketing and service activities
With CRM, you manage customer relationships both before and during and after your sales. It can be integrated with the ERP system and gives you increased visibility on all customer interactions and prospecting. In addition:
You can identify customers' needs more quickly, having a complete history of the completed activities, placed orders and the products they prefer
Keep track of your sales pipeline and have the opportunity to intervene in the sales process to correct and adjust activities that do not deliver the expected results
You have access to sales cycle indicators, conversion rates for prospective customers or established tiles, and you get a perspective on all the factors that contribute to or hinder the achievement of your sales goals
Manage your opportunities more efficiently and know at any time details of their status, their values and prospects to which they belong
You implement fast or complex marketing campaigns, integrated marketing campaigns that you manage from the planning stage until they are launched and then measure the results they have brought. Thus, you will know what activities are more profitable and worth investing in the future
You reduce the number of incidents and the average response time to customer requests, which allows you to provide customers with superior quality services
10. Analyzes the results in detail and permanently adjusts the sales process
Analyzing sales data with the SeniorVisualBI Advanced Reporting System lets you see from time to time what works and what needs to be adjusted within your company. Business Intelligence is integrated with ERP and can be integrated with other systems such as CRM or SFA to give you an overview of all business components.
It offers you at any time complete information on sales team performance, allowing you to get on time when certain indicators are not at the desired level
Quickly find out who are the most profitable sellers, what products bring you the most revenue, what geographic areas are most successful, etc.
You get interactive reports on the activity of the marketing department, such
as:promotional campaign performance, budgetallocated to each, etc.
You use the system's forecasting capability to find out how sales will evolve over the next period, and knowing this data, you will be able to make the right decisions to increase sales