{"id":18670,"date":"2023-05-05T09:02:55","date_gmt":"2023-05-05T13:02:55","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=18670"},"modified":"2023-04-26T09:06:44","modified_gmt":"2023-04-26T13:06:44","slug":"improve-sales-effectiveness-with-better-financial-management","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/improve-sales-effectiveness-with-better-financial-management\/","title":{"rendered":"Improve sales effectiveness with better financial management"},"content":{"rendered":"
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\n\t\t\t\t\t\t\tTechnology & Innovation<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
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\n\t\t\t\t\t\tImprove sales effectiveness with better financial management\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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\n\t\t\t\n\t\t\t\t\"Bill\t\t\t\tBill Fuesz<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

If your company has a sales team, its leaders constantly ask themselves \u201cwhat can we do to improve effectiveness and capture more business?\u201d Highly effective sales teams drive more sales and revenue while building better customer relationships. A more effective sales team can help a company gain a larger market share and battle more effectively against competitors.<\/p>\n\n\n\n

There are several ways to increase sales team effectiveness, including sales training and performance management programs, coaching, and ongoing lead generation and qualification. As a Finance leader, you have an opportunity to support sales team effectiveness by using a modern cloud-based financial-management platform to organize customer information, automate routine tasks, and access data and insights to inform the sales strategy.        <\/p>\n\n\n\n

In its recent report The Total Economic Impact<\/em>\u2122 of Sage Intacct<\/em><\/a>, Forrester quantified the impact of Sage Intacct on sales team effectiveness. Let\u2019s walk through the methodology it used to produce a real dollar figure.<\/p>\n\n\n\n

Forrester interviewed four customers using Sage Intacct. For their study, Forrester aggregated the interviewees\u2019 experiences and combined the results into a single composite organization, a technology services company, headquartered in North America with global operations. The composite generates $30 million in annual revenue, has 100 employees, and grows 20% annually via acquisitions during the three-year TEI analysis period.<\/p>\n\n\n\n

The four interviewed organizations said that, prior to Sage Intacct, their accounting and financial systems were unconnected, complicated and challenging. The financial processes resided across multiple platforms, such as enterprise legacy systems, bookkeeping software, spreadsheets and other applications. These systems included Oracle NetSuite and QuickBooks.<\/p>\n\n\n\n

Due to lack of system consolidation and automation, the organizations used protracted manual processes to bridge data gaps, often requiring additional labor to perform maintenance tasks, such as duplicating the data in prior legacy and third-party software solutions, or tracking contracts and invoices in individual spreadsheets.<\/p>\n\n\n\n

After deploying Sage Intacct, the interviewees acquired visibility into their organizations\u2019 financial performance and had confidence in their numbers due to the platform\u2019s real-time data. They gained financial insights and the ability to parse the data, drill down on numbers, and isolate any issues with a particular number, which they could not do in their previous environments.<\/p>\n\n\n\n

With this, Forrester calculated a $730,080 total three-year margin benefit gained due to improved sales team effectiveness, with a present value of $605,200. Let\u2019s look at the details.<\/p>\n\n\n\n

Evidence and Data<\/strong><\/h2>\n\n\n\n

Sage Intacct\u2019s out-of-the-box solution automatically synchronized with interviewees\u2019 CRM solutions, providing their sales teams with greater visibility into their customers\u2019 accounts and contract detail in real time. The CRM solutions included but were not limited to Salesforce.<\/p>\n\n\n\n

This easy integration enabled the sales representatives to renew contracts within a reasonable timeframe before expiration and add extra licenses per contracted amount. Before Sage Intacct, interviewees needlessly replicated a customer profile in multiple systems, spending time to locate the contract or, worse, misquoting prices, which led to customer confusion and dissatisfaction.<\/p>\n\n\n\n

Due to Sage Intacct\u2019s automation and data accuracy, the sales team achieved significant time savings and focused on enhancing the customers\u2019 experience. Furthermore, the organizations\u2019 days sales outstanding (DSO) decreased from 112 days to 62 days.<\/p>\n\n\n\n

Modeling and Assumptions<\/strong><\/h2>\n\n\n\n

The composite organization has a total of 30 Sage Intacct licenses. In addition to five business users, 25 employees have user access.<\/p>\n\n\n\n