In an ideal world, designing territories and distributing quotas based on corporate targets would be simple, regardless of how many sales reps are in your organization, or how territories shift and change as a company grows and sales capacity increases.
However, in reality managing territories and quota is time consuming and prone to mistakes. Companies today are often not realizing the full potential of sales territory management, and the importance of mapping it to Wall Street goals. Manual processes, no standardization, and lack of analytics often hold them back from maximizing their sales force productivity and pipeline.
There is a definite need to automate the process. Doing so will better balance sales capacity against budget and corporate goals and reap the rewards.
Top 3 benefits of automated sales territory and quota management:
- Connecting sales management and finance. When the CFO sets corporate goals for sales managers, who then distribute that goal across their team, they often lack the ability to adjust quickly. By automating sales territory management, sales managers can develop multiple “what-if” scenarios and model specific scenarios to accelerate the planning process and respond quickly to changes throughout the year. For example, if additional reps are added to their territory, or corporate goals are changed, they can easily adapt to stay on target. Having one system means they’ll have historical and current metrics that guide the territory definition and quota setting process.
- Improved processes and efficiencies. Companies that use spreadsheets to manage quota and attainment are bound to lose money. Spreadsheets are prone to mistakes and errors that are not easily caught, and they don’t provide an audit trail of changes. A self-service, workflow-based application eliminates the need to manually distribute, receive and submit spreadsheets by email and gives reps insight into their territories and targets.
- Getting Reps Running faster. While bringing new sales reps on board will have a positive impact on the top line in the long run, there is always a negative impact on the bottom line because of the costs associated with new employees. That’s why it’s critical to assign reps a territory and quota as fast as possible – so they can start bringing in revenue. The weeks they spend waiting to get their assignments is money wasted. The faster new reps can be assigned accounts and the faster quota can be distributed and adjusted, the faster that rep can show their value.
Well-defined territories and optimized quota setting directly impact sales results. A self-service territory and quota management solution can help. This is why we’re excited to introduce CallidusCloud’s new Territory and Quota Management solution. Learn more about territory and quota mapping or take the product tour to find out more about Territory & Quota!!