Good CEO knows that sales team can build or ruin the business. Sales report is an effective tool that helps to control the activity of sales managers and to make sure that their actions turn into real sales. Sales report is a key that keeps the sales process moving and ensures that company reaches its goal. With the help of sales reports managers can oversee the success of the sales team and as a result the success of the whole company.
Sales report is a record of calls made and items sold amid a specific time period kept by a sales representative or administration. For instance, an average deals report may consolidate information on deals volume watched per thing or gathering of things, what number of new and current records were reached and when, and any expenses that went for advertising and selling items. Sales Reporting provides sales managers with the analytics that helps to increase their income.
Sales reports are used to investigate the flow of sales as indicated by key sales markers that you select, for instance, deals turnover in both amounts and quantities, actual sales rate in comparison to budget. You can likewise make use of the report to analyze your average sales profit and assess the sales patterns of your sales managers.
Report helps to define the analysis lines and to compare gross profit of the current year to the gross profit of the previous one.
A sales report demonstrates the tendencies taking place in an organization’s business over a span of time. Basically, sales report shows the up-and-down sales charts, positive and negative business trends. With a help of such reports sales manager can analyze those trends and decide on the best sales patterns. Sales managers investigate the market and chose the most profitable niches that would help to increase sales.
Sales report proves highly beneficial when company wants to define the most productive time period when sales reached their peak. Also such analysis helps to find out whether the estimated sales (evaluation of the amount of money that is spent on products and services) turned into actual ones or whether the strategy used proved to be effective. In big enterprises, sales analysis reports might just contain information for a division or district. In contrast, small business manager might be more intrigued by separating sales by area or item.
One of the tendencies that sales reports unveils is the situation with product demand both with the particular item and the whole range of products. After identifying the issue, solution appears easier.
In the final analysis, sales report helps the executive to:
- understand what is selling and why;
- normalize data;
- forecast sales in short and long terms;
- manage inventory and costs;
- understand your brand demographics;
- track sale calls, visits, campaign e-mails;
- relate items to specific suppliers and landing costs;
- identify the problem before it effects your brand;
- understand true sales by retailer and market;
- correct the problem before it reaches your client;
- implement new or improved marketing and sales activities.