SPM is Sales Performance Management, that is, sales performance management. In the competitive market we are in, SPM has become the apple of the eye of companies by combining with technology. So what does SPM do, what is SPM software? Let’s examine it!
What is SPM?
SPM means data-based analysis, planning, and management of sales processes, which are the backbone of every company. The entire sales process; It covers processes such as monitoring the activities of sales areas, channels and sales representatives, evaluation of sales performance, analysis, and improvement of overall sales.
Why is SPM Important?
SPM collects and processes data on sales made and as a result helps to predict future sales, improve strategy or develop new strategies. It creates a resource for more effective use of the whole process by processing the data of not only sales but also salespeople, sales channels and regions.
SPM incorporates certain processes, these are:
Data-based decisions are taken in the determination of sales regions and channels, and in the creation of regional targets.
A correct SPM process is managed by ensuring that the entire sales process is periodically reviewed and tasks and processes are organized. Proximity to targets can be tracked by tracking sales channels and regions. As a result, plans are made in favor of the company, such as the more efficient use of the workforce and the development of strategies compatible with the organization.
Making data-based decisions helps to develop more accurate strategies and achieve the determined goals. With SPM, a customer-oriented and more original sales process is managed. The efficiency of the determined strategies and processes can be measured, and more accurate predictions are made with artificial intelligence and machine learning.
Facilitating the measurement of sales representatives’ performance, SPM takes encouraging actions to increase the decreased motivation of team members who face adversity during the day. Sales teams are motivated by the results of performance evaluations made at certain intervals.
The collected data is processed by artificial intelligence and machine learning to make predictions. With machine predictions, grounded decisions are made and strategies are developed.
According to the Digital Transformation Report published by Dell Technology, 8 out of 10 organizations accelerated some of their digital transformation programs in response to fast-paced environments during the pandemic period in 2020. Dell Technology also reported that nearly 80% of organizations are reinventing their business models by adding greater remote working capabilities, strengthening their cybersecurity defenses, and delivering new digital experiences to customers and team members.
Not only being a pioneer in an increasingly digitalized world, but also planning an up-to-date technology. Most of the companies are increasing their investment potential in technology, business management and project management software. This is exactly why you should use a PeerBie SPM software.
In reality, SPM software not only helps to keep your place in the market, but also greatly simplifies your work. Meetings allow you to get things done on a digital board instead of long presentations and speeches. It enables the data of the sales process to be collected and used in one place. It provides the opportunity to manage the sales process in a systematic way and to deal with the problems that arise with the uninterrupted communication infrastructure provided.
Pros of Using SPM Software
SPM software makes it easy to manage the entire sales process.
With real-time and reliable data, action can be taken in accordance with business objectives. By increasing the success rate of the teams with the right strategies and targets, both motivation and provides profit. With the complete follow-up of the sales process, success is achieved without skipping any details.
The performance of sales representatives can be monitored in real time. With standardized business processes, closing the sale is facilitated by helping the employee.
After-sales payments are also monitored, and payment transactions are kept under control.
With SPM software, employees are tracked individually, which means visibility. Appearing as an individual alongside team achievements, and the successful conclusion of efforts, gives the employee the motivation they need. SPM software, which allows you to make data-driven employee experience analysis, allows you to have a result-oriented and efficient workforce.
As a result of data-based decisions, unnecessary expenditures are avoided and profitable investments are embraced. Increasing income with the effective use of the workforce is another advantage of using SPM software. Also, avoid shadowing your money by keeping an account of your receivables and following the purchasing processes.
Sales Performance Management with PeerBie
PeerBie is a sales management software that helps manage sales processes. Simply manage the process with PeerBie by bringing everything from customer tracking to issue management to deal collaboration in one place.
Minimize data entry and drive leads through your sales channel with PeerBie. Assign tasks according to each stage of your process, track your stage with each customer individually and specifically.
Manage your sales team, never miss sales opportunities with uninterrupted communication. Customize your workflow to visualize your entire sales strategy.
Your data is safe with PeerBie! Determine who can access customer and sales data.