In this highly competitive and globally sensitive World Economy, you can discover that the sales team are facing increased pressure because of the falling Premium, regulatory compliance, loss of existing Customers to Competition and shifting loyalties of Sales Force. There is no doubt that it is vital that the team have to have a robust channel management solution that can reduce the selling life cycle by providing instant access to real time data and manage the relationship with Channels/ Distributors in a more efficient way. However, the channel management system can help in increasing the effectiveness of your Sales organisation by enabling.
The channel management system offers the improved visibility of sales performance and rewards available from the same day across all hierarchy levels. This kind of the system causes the reduction in manual process like incentive calculation, improved sales performance through targeted incentive and reward & recognition (R&R) schemes, and transparency of process. The channel management solution has become one tool that it is used to manage the business access of the real-time data to make fast business decisions, prioritize, track and manage activities through to completion, and reduce the sales cycle.
The sales channel management system is considered to be part of the core systems in a company, featuring the sales Channel set-up and configuration including the direct sales staff, indirect sales channels, different type of indirect sales channels and more. Furthermore, it also includes the sales compensation system that can be a separate add-on OR a new system. The business should pay attention to the sales channel status management that includes active, inactive, suspended and barred from doing certain activities for a certain period of time. It enables the businesses to enhance the effectiveness of the inhouse and external sales operations. Most businesses realize that the sales and distribution hierarchy is diverse and dynamic with the complex interplay of direct & indirect channels.
The channel marketing is an inevitable element of the marketing process so that each company should focus on the channel management system that delivers the real time visibility of individual & team performance giving business managers real time insights on channel performance at various levels of granularity. This system permits the customers to drive direct bookings to their websites by offering promotions management, smarter reservation dashboard and an easier inventory management in one channel management system. You have to keep in your mind that it plays an important role in your business.