An effective sales tracking program enables the sales organization to record every detail of its sales activities and results, allowing it to accurately pay commissions to its employees and informing its strategy for meeting crucial KPI requirements.
Every sales organization with growth aspirations aims to improve its sales process to close more deals and drive more revenue. Sales tracking allows the sales organization to measure and monitor every aspect of its sales performance, from the activities that salespeople engage in each day to the resulting sales, contracts, and deals that are produced at the end of the pipeline.
Almost everything that a sales rep does can be tracked, quantified and measured—and sales managers can use that data to create data-driven sales reports, determine what works and what doesn't, and make changes to boost revenue for the business.
Sales Tracking to Measure and Monitor Employee Performance
Whether your sales team focuses on email marketing or phone calls to prospects, a sales manager needs to understand how rep performance correlates with success at your organization. What activity levels are required for your sales reps to meet their monthly quota? Does it take thirty phone calls per day, or fifty? What target ratios should your associates aim for as they build and work through their pipeline?
Sales tracking captures data from your sales reps so you can see who is conducting the most sales activity during their work day and which activities best correlate with sales success. You can also use sales tracking to develop activity targets for your sales team that will improve quota attainment.
Sales Tracking for Forecasting and Reporting
If your sales team consists of tens or hundreds of employees, it can be difficult to report on your productivity with genuine accuracy. Do you know how many sales calls your team made this month compared to last month? It’s important for sales and finance leaders to understand the number of prospective customers in the pipeline and be able to project the number of sales based on data from prior quarters.
Effective sales tracking aggregates data from all agents across time, making it easy to create customized reports with the information you need to make the right decisions for your team. Sales tracking allows a sales manager to access comprehensive performance data for individual sales reps, monitor the number of prospects at each stage in the sales funnel, and ensure that the sales organization is on track to achieve its targets.
Sales managers can also use sales tracking to monitor commission accounts for each sales rep, ensuring that payouts are consistently accurate and reducing disputes over commission, and to effectively optimize territory design.
Sales Tracking for Analytics and Insights
Sales tracking produces analytical data and insights that sales managers can use to understand and optimize their processes for maximizing revenue each quarter. As organizations begin to collect data about the sales process, they begin to identify top-performing sales reps, the relationship between employee tenure and quota attainment (or average ramp-up time), and can even predict when reps are at risk for leaving the company.
With sales analytics and insights, sales managers can begin to identify the people and processes within the sales organization that are most closely associated with success. Data can be used to identify opportunities to improve results through training staff, modify a process or method, or to come up with a new commission structure that provides better compensation for top performers.
Xactly Sales Tracking Drives an Accurate Accruals Process
Sales tracking software introduces automation to the process of recording sales activity, making it easier than ever for sales managers to understand what the sales organization is doing and make data-driven decisions that help drive more revenue.
Xactly's Sales Performance Management (SPM) software is the first-ever platform that uses AI to provide incentive compensation insights based on 13+ years of aggregate pay and performance data. With Xactly, your sales organization can ensure competitive pay, effective compensation plans, and a sales team whose activities are strategically aligned with the goals of your business.