To help you out, we’ve compiled data on top sales technology and performance trends.
Current Sales Operations Trends
In most organizations, Sales Ops managers are responsible for choosing, integrating, and managing Sales technology. Here are some of the current trends to keep your eye on:
Increasing Adoption of CPQ
Configure Price Quote (CPQ) software is revolutionizing sales operations; it provides the ability to produce personalized quotes to customers within minutes and streamlines billing. 60% of high-tech leaders are more likely than others to use CPQ software, and the results speak for themselves:
- 48% growth rate in revenues
- 57% growth rate in margins
- Sales processes accelerated by 13%
CPQ users also execute day-to-day tasks faster. 71% report completing time-consuming Requests for Proposals (RFPs) “rapidly” vs. only 42% of non-users. CPQ also helps with demonstrating product knowledge, generating complex quotes, and even leads to a 16% better retention rate for top salespeople.
Learn more: What is CPQ?
Consolidation of Tools and Digital Transformation
To keep your digital consolidation and transformation going smoothly, pick tools that are easy to use and play well with industry leaders like Salesforce and Microsoft Dynamics. Remember, successfully integrating new technology will help you and your company do better, but make sure not to add too much too quickly so you can integrate each tool properly and enhance the process with proper training.
Capturing Value by Aligning with Marketing, Finance, and Legal
CPQ tools and other sales technology make it easier to align with marketing by simply sharing the same data. Companies using a CPQ have a 17% higher lead conversion rate.
Sharing data also helps finance make accurate forecasts. An Aberdeen study shows that over 70% of companies using Enterprise Risk Management (ERM) software and shared data can produce real-time updates for financial metrics compared to only 18% of companies without this software.
Technology can even bring legal and sales together. These departments have different cultures; legal, urging caution and avoiding risk, while the sales department is interested in closing deals and cooperating with customers. Having an online repository of pre-approved contract clauses, contract redlining capability, and sharing data about sales progress can help bridge the gaps.
The Sales Ops Role Has Never Been More Challenging
Being a Sales Operations Manager is a balancing act between long-term company goals and immediate sales KPIs on the other. Lack of clarity and alignment around multiple departments’ goals and responsibilities adds a layer of complication to your role, causes tension within the organization, and has financial ramifications for your company.
In our report Sales Ops 2020: Performance and Tech Trends for Sales Operations Managers, we explore additional trends and insights into the challenges facing sales operations managers today and the technology they are using to rise above those challenges.
Download your copy today!