What Is Sales Management Software?

Do you know how businesses manage their sales process with such ease these days? It’s not magic; it’s just pure technology!

Traditionally, businesses would maintain a list of contacts rarely paired with a few more details. That’s about everything companies did to manage their sales processes. However, nowadays companies would be fooling themselves if they followed the same process. This is the era of cutthroat competition and the more you keep the business processes managed, the better for you.

Modern Sales Management Software will help you to organize, automate and manage all the processes related to the Sales Process as a whole. In the end, it must help you to accelerate the sales process.

Sales management software is a tool that is designed to help businesses manage and streamline the sales process. It typically includes a variety of features and functionalities that automate and optimize the sales process, resulting in increased efficiency and productivity.

Let’s explain this from a customer’s perspective. Suppose, you see a billboard on your way to your work that attracts your attention. After you reach the office, you decide to go through the company’s website. Your session time gets recorded. Now, in the database of the sales team, you are counted as a lead on the basis of the time you dedicated to the website, and the pages you visited. If you visit pages that bring you closer to making a payment, then you are a strong lead. For example, if you visit a product page on Amazon and proceed to add that item to your cart, you will see a hike in ads from Amazon regarding the same product. Hence, now you are likely to see a lot of ads from the website you visited.

All of this happens, because the Sales Team of the company is trying to keep you interested in their products. This is what a customer witnesses as a part of the sales process. Now, let’s discuss what happens in the business of the software.

What Does A Sales Management Software Do?

There’s a lot that the software can do. A Sales Management Software manages your data, gives you insights, and automates the processes that are repetitive in nature.

Now, let me explain how a sales management software works for a business. There’s a reason why you started receiving so many ads from the website you had browsed on the website. Based on your activities on the website, the sales management system has automatically determined your position in the sales funnel, that is, how likely you are to convert into a paying customer. Based on that, they are trying to keep you engaged and stay on the top of your mind with all the ads they are sending you.

Now, you might have noticed that these ads, most of the time, mention what you have searched for or gone through on the website. What they are trying to do is, they are promoting the products and services to you that they think you might be interested in.

From the dashboard of the software, they can easily find out your contact details and other previous activities. And it is not just you. There are hundreds of other people just like you, who have somehow ended up in their leads and contacts lists. They are either from the website or from some other medium, where the company has determined that they might be interested in their products.

How Does Sales Management Software Work?

There are several levels in a sales process. But a Sales Management Software can handle all the levels with great ease. Let’s discuss the step-by-step process of a Sales Management System and how these processes, when integrated, help a business grow.

First of all, the Sales Management Software assists in customer management. It does this by managing and analyzing customer interactions, such as marketing, sales, and customer service. This system allows businesses to collect and store information about customers and their interactions with the company, such as purchase history, communication logs, and demographic information. This data can then be used to gain insights into customer behavior, preferences, and needs, which can inform decisions about marketing, sales, and customer service strategies.

Secondly, sales management software can help businesses to manage and optimize their pricing and promotions. The software can track sales prices, and also help businesses to decide on discounts and promotions. This can help businesses to increase their sales, and also boost their revenue. The software includes reporting and analytics functionality, which allows businesses to analyze their sales performance. This can include things like sales trends, conversion rates, and revenue. This information can be used to identify areas for improvement and make better-informed decisions.

Lastly, the sales management software will help you to manage your sales force. It allows managers to track their team’s performance, such as their sales figures, conversion rates, and call records. This can help managers to identify areas for improvement and ensure that their team is working efficiently.

What Are The Types Of Sales Management?

Sales management is the process of overseeing and directing a company’s sales operations. It involves developing and implementing strategies and tactics to achieve sales goals and objectives. There are several different types of sales management, each with its own unique focus and approach.

Sales Management Software For Primary Level

The primary level of the sales process refers to the initial steps that a business takes to identify and engage potential customers. These steps are essential for building a strong sales pipeline and driving revenue growth.

Sales management software can help businesses to generate leads by automating marketing campaigns and tracking website visitors. With the use of marketing automation tools, the software can also create targeted campaigns based on visitor behavior, demographics, and interests.

Sales Management Software For Secondary Level

Sales management software can help businesses to manage and track their distribution partners, such as distributors, resellers, and agents. This includes capturing contact information, tracking interactions, and monitoring the progress of partners through the sales funnel. The software can also help businesses to manage and optimize their pricing and promotions. The software can track sales prices, and also help businesses to decide on discounts and promotions.

Sales Management Software For Tertiary

At the third level of the sales process, a Sales Management Software can help the company with managing its sales force. With the help of this software, the sales manager can keep track of the performance of the team members. The software can recognize who has performed the best within the team. Most of the time, this feature encourages the employees to perform their best.

Why Use A Sales Management System?

A Sales Management Software has a lot of benefits for a business. They are as follows:

Increased Efficiency: Sales management systems automate many of the repetitive and time-consuming tasks associated with sales, such as lead generation, tracking customer interactions, and creating reports. This can free up sales representatives to focus on higher-value activities, such as building relationships and closing deals.

Improved Visibility: Sales management systems provide businesses with a centralized view of their sales operations, giving them real-time insights into customer interactions, sales performance, and revenue. This can help businesses to identify areas for improvement and make better-informed decisions.

Better Sales Forecasting: Sales management systems provide businesses with the data and tools they need to accurately forecast future sales. This can help businesses to better plan and allocate resources, and also to make better-informed decisions about expansion and growth.

Improved Collaboration: Sales management systems can help sales teams to collaborate more effectively, by providing them with a shared view of customer data, sales performance, and team goals.

Increased Productivity: By automating the sales process, sales management systems can help businesses to increase the productivity of their sales teams, resulting in more sales and revenue.

Better Customer Relationship Management: Sales management systems can integrate with customer relationship management (CRM) software, which can help businesses to track customer interactions, manage leads and contacts, and gain insights into customer behavior and preferences.

Cost-effective: Sales management systems often include affordable pricing plans for small businesses, such as subscription models, pay-per-user or free versions with limited features, which can help businesses to have access to a powerful tool without breaking the bank.

15 Must-Have Features In A Sales Management Software

While it is necessary to have a software to help you through the sales processes, the hardest part of a Sales Management Software is choosing the right one. There are more than a hundred companies selling the same software throughout the world. But, there are a few features that you and look for in a software. Most of the time, if these features are present in the software, it is probable that it will work for your business.

Customer Management

Sales management systems can integrate with customer relationship management (CRM) software, which can help businesses to track customer interactions, manage leads and contacts, and gain insights into customer behavior and preferences.

Lead Management

Lead management is the process of identifying, nurturing, and converting potential customers into paying customers. Sales management software can help businesses to automate and optimize this process, resulting in increased efficiency and productivity.

By automating and optimizing lead management with sales management software, businesses can increase efficiency and productivity, gain valuable insights into customer behavior and preferences, and convert more leads into paying customers.

Order Management

Order management is the process of tracking and fulfilling customer orders, from receipt to delivery. Sales management software can help businesses to automate and optimize this process, resulting in increased efficiency and customer satisfaction.

By automating and optimizing order management with sales management software, businesses can increase efficiency, improve customer satisfaction, and reduce the risk of errors. Additionally, the software can provide businesses with a complete view of the orders, inventory, and financial performance which can help them to make better decisions and improve overall performance.

Product Catalog Management

Product catalog management is the process of organizing, managing, and updating product information, including descriptions, prices, and images, that businesses use to sell their products. Sales management software can help businesses to automate and optimize this process.

Target & Incentive Management

Target and incentive management is the process of setting and tracking sales goals and incentives for sales representatives.

Sales management software can help businesses to set and track sales targets for individual sales representatives and teams. This can include setting targets for revenue, the number of deals closed, and other key performance indicators.

Sales management software can also help businesses to manage and track incentives for sales representatives. This can include setting and tracking incentives for reaching sales targets, such as bonuses, commissions, and other rewards.

Sales Geography Management

Sales geography management is the process of organizing and managing sales activities based on geographic regions. Sales management software can help businesses to create and manage sales territories, by defining geographic regions and assigning them to individual sales representatives or teams. This can help businesses to ensure that their sales efforts are targeted and effective.

Price List & Discount Management

Price list and discount management is the process of creating, managing, and optimizing pricing for products or services. Sales management software can help businesses to create, manage, and maintain a centralized price list for their products or services. This can include setting prices, tracking changes, and creating different price lists for different customers or regions. Sales management software can also help businesses to optimize their prices by providing real-time visibility into sales performance, customer behavior, and market trends. This can help businesses to identify areas for improvement and make better-informed pricing decisions.

Customer Segmentation

Customer segmentation is the process of grouping customers into distinct segments based on characteristics such as demographics, behavior, or needs. By automating and optimizing customer segmentation with sales management software, businesses can improve their targeting and personalization efforts, and make better-informed decisions that drive growth. This can also help businesses to increase sales and revenue by providing a more relevant and personalized experience for their customers.

Sales Channel Management

Sales management software typically includes reporting and analytics functionality, which allows businesses to analyze their sales performance. This can include things like sales trends, conversion rates, and revenue. This information can be used to identify areas for improvement and make better-informed decisions. The software can provide a centralized platform for the distribution partners, where they can access the sales materials, order the products, track their performance and get the necessary support.

Vendor Credits Management

Vendor credit management is the process of managing and tracking credit extended to vendors by a business. Sales management software can help businesses to streamline the credit application and approval process for vendors. This can include capturing vendor information, credit history, and financials, as well as automating the credit approval process.

GPS check-ins & Check-outs

Sales management software can use GPS technology to track the location of sales representatives as they visit customers and clients. This can include real-time tracking of their location, as well as historical location data. The software can also help businesses to manage check-ins and check-outs, by automating the process of recording when a sales representative arrives at a customer’s location and when they leave. Sales management software can also integrate with mobile devices, which can provide sales representatives with real-time access to customer data, sales performance, and other information.

Offline Location Tracking

Offline location tracking refers to the ability of a sales management software to track the location of sales representatives even when they are not connected to the internet. This can be especially useful for businesses with sales representatives working in remote or rural areas where internet connectivity is unreliable. This can also help businesses to reduce travel time, increase the number of customer visits, and improve customer satisfaction, even when internet connectivity is unreliable.

Lead Assignment Management

Lead assignment management is the process of assigning and tracking leads to sales representatives or teams. Sales management software can also assist in distributing leads evenly across sales representatives or teams, helping to ensure that each representative has an equal opportunity to close deals.

Contact Management

Contact management is the process of organizing, maintaining, and communicating with contacts, such as customers, prospects, and vendors. Sales management software can help businesses to manage and organize contact information, such as name, address, phone number, email, and social media profiles. This can help businesses to ensure that their contact information is accurate, up-to-date, and easily accessible to sales representatives. The software can also help businesses to categorize contacts, making it easier to navigate and search through their contact list. This can include creating contact hierarchies, assigning tags and attributes, and organizing contacts by category, industry, or other criteria.

Real-time Inventory Management

Real-time inventory management refers to the ability of a sales management software to provide real-time visibility into a business’s inventory levels, allowing businesses to avoid overstocking and understocking. This can also help businesses to improve customer satisfaction and increase sales and revenue by ensuring that the right products are in stock at the right time.

Other Features Of A Sales Management Software

Apart from the above-mentioned features, you can also look for the following features to ensure that your Sales Management Software is perfect for your business.

Sales Reporting

Sales reporting is the process of generating and analyzing reports on sales performance and activity. Sales management software can help businesses to automate and optimize this process. Sales management software can help businesses to automate the process of generating sales reports, by providing real-time visibility into sales activity and performance, and by creating reports on demand or on a schedule.

Travel & Expense Management

Travel and expense management refer to the process of tracking and managing the expenses incurred by sales representatives while traveling on business. Sales management software can help businesses to manage the expenses incurred by sales representatives while traveling, such as transportation, lodging, and meals. This can include tracking expenses in real-time, generating expense reports, and reconciling financial transactions.

Commission & Compensation Management

Commission and compensation management refer to the process of tracking and managing the commissions and other forms of compensation earned by sales representatives by providing real-time visibility into commission amounts and by automating the calculation of commissions based on sales performance and other factors. The software can also help businesses to manage and track other forms of compensation, such as bonuses, incentives, and non-monetary rewards, by providing real-time visibility into earned incentives and by automating the calculation and distribution of incentives.

Scheme Management

Scheme management refers to the process of creating, implementing, and tracking sales promotions, discounts, and other schemes offered to customers by a business. Scheme management refers to the process of creating, implementing, and tracking sales promotions, discounts, and other schemes offered to customers by a business. Sales management software can also assist in allocating schemes to specific customer segments, products, or regions, which helps in targeting the right audience.

Employee Rewards & Recognition System

Employee rewards and recognition system refers to the process of recognizing and rewarding employees for their hard work, dedication, and exceptional performance. The software can also help businesses to track and manage employee rewards, by providing real-time visibility into the rewards earned by employees, and by automating the process of calculating and distributing rewards. Sales management software can also provide a wide range of employee performance metrics, such as sales, customer satisfaction, and attendance, which can be used to evaluate employee performance and determine rewards.

Customer Feedback Management

Customer feedback management refers to the process of collecting, analyzing, and using customer feedback to improve products, services, and overall customer experience. Sales management software can help businesses to collect customer feedback, by providing tools for creating, editing, and distributing customer feedback surveys, and by automating the process of collecting and storing customer feedback data.

All these features can help you get the ultimate sales management software for your business.

We, at Nural, strive to provide companies with the best targeted solutions for their problems. Hence, we have equipped our cloud-based software solutions with all these features and more. Nural provides businesses with Sales Management Software, Service Management Software, and Asset Management Software.

Check-Out Nural Sales Management Software