Benefits of Daily Sales Reports to Businesses

 

Most growing businesses have an affinity for generating annual reports only. It could be because they don’t see sales reporting as an essential activity or feel it is enough to gather once a year. The problem with annual reporting is that by the time you detect a problem in your sales process, you may have already lost significant revenue. A daily sales report addresses this issue effectively.

With the help of daily reports, managers can track what their sales reps have done on a working day. This can include the number of calls made, emails sent, in-person meetings attended and deals closed. Daily sales reports help managers identify operational bottlenecks early on. It also helps with your rep’s accountability and performance.

In addition, daily sales reports provide continuous updates to the management. The reports also offer insight into the company’s sales activities more frequently and in a more detailed manner. It could contain the name of the sales rep, the clients being handled by them, the number of calls/ emails they have executed during the day, etc. Below, we discuss some benefits of daily sales reports.

Assists in decision making

A daily sales report will help you determine the sales volumes, cash flow, future trends, and more. All of this can help you make better decisions for the future of your sales. Though monthly sales reports may provide the same information, they cannot show you in-depth data on each sale as a daily sales report can. Daily reports make tracking performances, identifying patterns, detecting problems, and taking timely action easier.

Enhances accountability

A monthly or annual report does not show you much about what an individual salesperson has been doing. But with a daily sales report, each individual’s activities and performance can be monitored. This also brings an overall sense of accountability among the team members.

Helps optimize the sales funnel

Not all leads that your business generates are worth nurturing. But sales reps won’t know that unless there is a visible trend. Daily sales reports includes critical information such as which days had the highest sales and why did that happen. This information becomes beneficial for management and managers to determine which leads your team should focus on. It even helps the marketing team to optimize their campaigns and set their target audiences accordingly.

Motivates and boosts the confidence of the sales representative

The daily sales report is also important for your sales team’s morale. Daily monitoring of each salesperson’s performance motivates them to achieve more. It gives rise to healthy competition within the team, which in turn increases the productivity of the team members. They also boost the confidence of your team members. When data and insights back their sales actions, they are more confident about handling prospects and winning deals.

Track progress and development of your business

Reporting is important because it records your progress and helps you analyze it by providing project details over different time periods. The amount of revenue earned may scale the success rate of your business but the data collected by sales and marketing reports can help you in many other areas. With the help of reporting, you can make your sales and marketing successful by formulating your budget, marketing plan, or can even plan your next move.

Redefine your marketing strategy

Sales and marketing reports help businesses to understand their customers’ behavior, preferences, and interest. For example, whether the customer will react to a social post, phone calls, or text messages. Once you know the choice of your customer, you can easily work on strategies to turn them into potential customers.

For a more comprehensive report, you would need to customize it to your business’s context. This is usually sales performance data that compares the daily sales activities with the sales objectives. Such reports can be created by the sales manager or by the sales reps themselves. To get your customized sales reports module, contact Robisearch Limited on 0716413386 or 0780655987

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Why stock control is important to a Business entity

A business occasionally runs out of certain items. This happens for a number of reasons: unexpected popularity of a particular item, such as one that has attained fad appeal among schoolchildren; an unusually large purchase, such as buying up all of a store’s hotdog buns for a party; or a failure by the manufacturer to make and ship on time certain items. Stock control is a way the retailer avoids running out of stock through tracking what is on hand, what has been sold and what is on order.

The following are some of the reasons why it is important to do stock management:

Cycling Inventory

Retail inventory consists of what products are on the store shelves plus the products in boxes in the storage room. As customers deplete the stocked shelves, more stock comes out of storage to replace what has been sold. Keeping track of the inventory on hand allows the store owner or manager to know when to order additional stock of the items before they sell out. Having records of what gets ordered allows you to better refine what you sell in the store to maximize your profits.

 

Organized Sales

 As goods are sold, the inventory should decline by the amount of sales. Sometimes, there is less inventory than expected, which normally means goods have been stolen or misplaced. Identifying missing inventory helps the retailer know to improve store security or inventory tracking procedures. Tracking sales over years also helps the retailer know how much to order of certain products at different times of the year.

Flawless Orders

Keeping track of goods on order allows a retailer to verify that replacement stock has been ordered. Monitoring order status alerts the retailer to possible delays in delivery in time to find another source of those goods from an alternate distributor. Manufacturers and distributors occasionally face fulfillment problems due to weather, machinery breakdown, labor strikes, unexpected demand and transportation problems. A detailed system of stock control keeps the customer satisfied and the retailer in business.

The Robisearch Point of sale system has the purchasing and stock control management feature that will help your business keep up with the inventory.

 

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Advantages of point of sale software in Kenya

The following are some of the advantages of point of sale software in Kenya for any kind of business.

  1. Point of sale system reduced paper work by automatically generating accurate reports. Instantaneous updates in sales and purchase records hourly, weekly and monthly gives you a better idea of how your business is doing.
  2. Point of sale system keeps accurate record of daily transactions and report about the volume of the stock.
  3. Point of sale system allows you to categorize your stock items into multiple subfields as per your company requirements.
  4. Point of sale system makes better CRM (Customer Relationship Management with your customers. You can easily find out a record of a single customer or multiples. So customers can easily return their purchase or exchange with in no time.
  5. Point of sale system simplifies the accounting processes and like old fashion ways you don’t need to hire a number of accountants to maintain thousands of transactions.
  6. Point of sale system makes it easy for you to look up past transactions. You can easily see record of any past transaction information within a snap.
  7. By using point of sale system you can automate the ordering process in case to never run out of your hottest selling products.
  8. Point of sale system is faster from authorizing a credit card transaction to printing a customer receipt.
  9. Customers can receive more detailed itemized receipt of the items they have purchased just because of the point of sale system.
  10. Point of sale system cut down the chances of user errors because the software has built in checks to ensure that the information entered is accurate and correct.
  11. The point of sale system allows you to add promotions and discounts on the products.
  12. Point of sale system modules allow you to control all sales & return operations, products bundling, promotion discounts, sale transactions, CRM, inventory management, customer credit card information privacy, labor working hours and shift management.
  13. If a company is running various promotions on different locations you can see that how much successful they are going using point of sale system.
  14. Point of sale system provide of side access so you can manage your business via internet from anywhere anytime.
  15. Point of sale system helps companies to identify the gap so you can manage or plan new strategies to achieve your set goals.

Enhance your business for the best outcome of the pointed out advantages of point of sale software in Kenya

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