Exactly this time last year, we released our CRM module to help businesses maximise sales opportunities through effective, structured management of customer relationships. Throughout its inaugural year, OrderWise CRM has been continually developed with lots of new features and useful functionality added to help enhance the user experience, including a the introduction of a new CRM activity grid, the ability to automatically schedule new opportunities, copy a task and more.
In version 10.2 of OrderWise, another two enhancements have been added to this massively popular module to help provide a greater insight into opportunity profitability and closure reasons.
When chasing down sales, it is always important for businesses to prioritise their opportunities. Other than looking at those with the greatest chance of success, companies will often want the sales offering the greatest value to the business to take precedence. Being able to view an opportunity’s profitability and margin is therefore key as it allows businesses to determine which opportunities to prioritise and which ones can afford to be offered additional discount if needed to help win the order. Additionally, this information can also be used to highlight opportunities where margin is below target and therefore requires further value adding before the sale is deemed worthwhile.
With this in mind, a new Profit Information section has been added to the opportunity expectations tab in version 10.2 of OrderWise. From here users are able to view margin analysis data held against sales orders linked to the opportunity, which have also been flagged to be included within the orders tab. The data then displayed from fields is the order’s estimated cost, actual cost, total cost, margin and margin percent.
With the addition of this new feature businesses using OrderWise CRM are provided with clear visibility of an opportunity’s profitability, giving users greater insight into opportunity progress and overall value.
It is vitally important for businesses to ensure that the reasons behind sales opportunities being won and lost are accurately recorded. By documenting this information, companies are able to know which part of their sales strategy is working successfully, where mistakes are being made and the reasons for customers not purchasing. In reality, it is often a combination of reasons that causes an opportunity to be closed either successfully or unsuccessfully and if businesses are only recording the reason they deem the most relevant, they are not providing themselves with the full picture.
To solve this closure reason dilemma, a new enhancement has been added in version 10.2 of OrderWise to enable users to list multiple successful or failed close reasons against a CRM opportunity. This has been facilitated by the introduction of a new Additional Closure Reasons section to the Close Opportunity form, here users are able to record the main reason why the business was won or lost along with any other additional reasons that affected the outcome. For example a order may be lost due to a high price being the main reason but the timescale of supply also being a factor, these can now both be recorded and fully reported on.
With the addition of this new functionality, OrderWise CRM users are provided with greater flexibility when listing closing opportunities off as successes or failures, providing businesses with a greater insight into the reasons as to why sales are ultimately being won or lost.
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To discuss your requirements in more details contact us today on 01522 704083.