Why Are Sales So Important To An Organisation :
Before we talk about the Sales Force Automation Software, we would like to start with the basics by understanding why Sales are so important to a Business Enterprise. In any organisation, the sales department plays a pivotal role in the success of the business. The unique and important role of sales is to bridge the gap between the potential customer’s needs and the products/services that the organisation offers that can fulfil their needs. But keep in mind, this doesn’t end here. The job is also to generate the need. We need to remember as a business owner, if we are not concerned with maximizing sales, then the company may not be as profitable as we hope it would be.
Doing Business Intelligently With SFA :
To put it very simply an SFA is a software apps for sales management. SFA provides automated workflows which create a streamlined sales process to manage business leads, sales forecasts, and team performance and maximize revenue. Sales force automation (SFA) is when parts of the sales process are automated by software tools. This automation focuses on repetitive, administrative tasks that, while important, can be time-consuming for sales teams to perform. As per a survey conducted, reports suggests that, on average, two-thirds of a sales rep’s time is spent on non-revenue generating tasks. By letting a sales force automation software take care of these tasks, sales reps can spend their time on more productive parts of their job: Simply Selling.
SFA And The Utility :
The SFA software will usually automate tasks based on certain inputs. For example, leads can be sent follow up emails based on a pre-designated template if they don’t respond to an initial email after a certain number of days. Alternatively, the software can be set up so one action taken by a sales team member results in numerous tasks being completed. An example of this is tasks being automatically assigned to team members whenever a manager moves a prospect in the sales team pipeline.
Sales force automation software can also include reporting and analytics tools. This makes it easier for sales managers to see metrics such as the performance of sales team members or predicted revenue over a certain time period.
The Purpose of Sales Force Automation :
Sales force automation tools are meant to assist numerous functions for sales teams in the selling process. Ultimately, the purpose of sales force automation is to allow companies to sell more of their products. It does this in three main ways:
Allow sales teams to focus on the most important tasks: By freeing up sales team members from administrative tasks, salesforce automation tools allow reps to spend more time on the activities more likely to result in sales. For example, calling prospects, setting up meetings, or working on strategies.
Streamline the sales process so the most effective strategy is always used: Sales force automation can also make the sales process more efficient which can lead to sales. Team members may forget to send follow up calls or emails. However, when set-up correctly, sales force automation tools should not have this issue.
Allow managers to get insight into the effectiveness of the sales process: The reporting and analysis tools found in most sales force automation software allow those in charge of sales teams to see what is working and make adjustments to things that aren’t. This can lead to an overall far more effective sales strategy.
Sales force automation software isn’t used to replace the sales department. Instead, it can be an essential tool to complement the work of good sales teams and help them implement effective strategies.
Future Trend Of SFA And Its Scope :
The Sales Force Automation (SFA) Software Market global share will register approximate 8.7% till the Forecast year 2021-2026.
Now that we are aware of the growth trajectory of SFA, let us see what all components are in the Global Sales Force Automation (SFA). Software Market includes several layers of physical equipment (hardware), virtualization, management systems, automation tools, operating systems, other system software and applications used to perform essential functions. As noted above, user devices, peripherals and software can be included in this domain. Using Sales Force Automation (SFA) Software types of market segmentation allow you to target customers based on unique characteristics, create more effective marketing campaigns, and find opportunities in your market. SFA, thanks to fresh waves of innovation, continues to grow strong globally and is widely considered to have a bright and secure future. The latest figures released by Gartner Research, testifies to it. The report claims that the global Sales Force Automation (SFA) market grew 15.7% to $6.2 billion in 2017, and is expected to be world $9 billion by 2023. This growth only supports the fact that more and more business enterprise are switching to SFA, rather than carrying on with the old school approach. In order to sustain the current adoption and market growth rate, SFA platforms need to evolve and also be future-ready in terms of technology implementation and functionality. Mapping purchase trends and understanding customer behaviour are the premises around which current SFA platforms are already working. Stepping into the future, there would be increased uptake of AI and data analytics both prescriptive and predictive, catering to market disruptions – powering SFA in the desired direction.
The Sales Force Automation (SFA) Software Market leaders operate in a competitive environment, where they must embrace unprecedented advancements in order to reap the benefits of the new and upcoming information technology and industry trends. The latest technology methods and best practices of 2021 will primarily stem from current trends in information technology. Advancements in IT systems relate to what the industry is leaning toward or disregarding now. Information technology is advancing so rapidly that new developments are quickly replacing current projections.
Acceleration In Global Sales Force Automation:
The increase in accelerated growth in SFA coupled with Software market and the usability has signalled significant changes of the present Sales Force Automation (SFA) Software market situation also emphasises the futuristic scenario of the Sales Force Automation (SFA) Software market. As the Covid-19 pandemic continues to create havoc across the globe, its impact on businesses has proven to be mixed. While some industries remain unscathed, others will continue to tackle challenges even once the economy bounces back from this crisis. Almost all businesses are charting a new course of action to cope up with changes in the business landscape to ensure profitability in the forthcoming years.
Market segmentation of Sales Force Automation (SFA) market:
Sales Force Automation (SFA) market is divided by type and application. For the period 2021-2024, cross-segment growth provides accurate calculations and forecasts of sales by Type and Application in terms of volume and value. This analysis can help you grow your business by targeting qualified niche markets.
Sales Force Automation (SFA) Market breakdown by type:
- Cloud-based
- On-premises
Sales Force Automation (SFA) Market breakdown by application:
- Small And Medium Enterprises (SMEs)
- Large Enterprises
Regional market analysis Sales Force Automation (SFA) can be represented as follows:
- North America includes the United States, Canada, and Mexico
- Europe includes Germany, France, UK, Italy, Spain
- South America includes Colombia, Argentina, Nigeria, and Chile
- The Asia Pacific includes Japan, China, Korea, India, Saudi Arabia, and Southeast Asia.
With the outbreak of pandemic more and more entrepreneurs are switching their Sales Force from conventional to SFA based apps in order to boost the revenue and be futuristic ready. It can only be concluded that the number of users of SFA will only increase. Everyday we see a newer version coming, but one thing remains constant, and that is the crux on the basis of which an SFA is designed and made to operate efficiently. Every business unit needs to embrace SFA and consider this as one of the most important, efficient and reliable tool.