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<b>THE UNIVERSITY OF DA NANG - UNIVERSITY OF ECONOMICS---***---</b>

<b>Group 2.1</b>

<b>Analysis of Sales Force Automation (MA) and the Insightly Application</b>

<b>Lecturer:</b> Phan Như Hiền

<b>Members:</b> Trần Thị Quỳnh Nhi (Leader)Nguyễn Đình Bách Phan Thị Linh ChiLê Thị Uyển NhiLê Nguyễn Hoàng Linh

Da Nang, April 5th, 2024

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Table of content

I. Introduction...

II. Theoretical foundation...

1. What is SFA?... 3

2. The SFA eco-system... 3

3. The functionality that is available in SFA software applications...5

4. The benefits derived from SFA...10

III. Functions analysis of Insightly...

1. About Insightly CRM... 11

2. Insightly pricing and plans... 12

3. Insightly CRM’s Advantages and Disadvantages...13

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<b>I. Introduction</b>

In the era of rapidly advancing information technology, Customer RelationshipManagement (CRM) is not just a concept but an indispensable part of everyorganization's business strategy, from small enterprises to multinational corporations.In addition, CRM is not merely a customer management tool; it is also a businessphilosophy, focusing on building and maintaining long-term relationships withcustomers. In the scope of this report, we will explore Operational CRM as well as thefield of Sales Force Automation (SFA) within Operational CRM.

Operational CRM is a system that offers marketing and sales professionals the abilityto reach out to clients in real-time. This type of software streamlines customerexperience management, providing everything from data collection tools for newcustomers all the way up to loyalty programs for repeat ones. Ensuring your clients arehappy with their interactions with you is just one of the many benefits of this type ofsystem. It focuses on organizing and managing customer informationcomprehensively, including data on purchasing behavior, purchase history, personalinformation, and all other interactions between the organization and customers.Operational CRM helps organizations gain a deeper understanding of their customers,enabling them to optimize marketing, service, and sales strategies to best meet theirneeds.

From Operation CRM, we move to explore the SFA. SFA or sales force automation isthe application of software and web- based services to automate and support sellingand sales management tasks and workflows. It is a critical component of CRM systemsthat focuses on automating sales processes. SFA helps optimize the performance ofsales teams by providing tools to manage customer information, track sales processes,and interact with customers more efficiently. SFA not only enhances sales revenue butalso improves customer experience through personalized and quality services. In thisreport, we will use the Insightly - a CRM application, to explain how a comprehensiveSFA system operates within the framework of Operational CRM. Insightly offers arange of features designed to streamline sales processes and enhance customerinteractions. Through real practices of this application, we will delve into the

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functionalities of SFA, demonstrating its ability to automate routine tasks such as leadmanagement, contact management, opportunity tracking, and pipeline management.Throughout the report, we will emphasize the importance of aligning SFA strategieswith overall business objectives and highlight best practices for successfulimplementation and adoption. Ultimately, our goal is to empower businesses with theknowledge and tools necessary to harness the full potential of SFA within their CRMecosystem, driving growth and competitiveness in today's dynamic market landscape.

<b>II. Theoretical foundation1. What is SFA?</b>

A number of definitions of SFA have been proposed in the academic literature:● SFA systems utilize computerized hardware and software to provide automated

collection, assimilation, analysis and distribution of information to improvesales force productivity (Morgan and Inks 2001).

● SFA systems consist of centralized database systems that can be accessedthough a modem by remote laptop computers using special SFA software ... [sothat a] salesperson ... can get constantly refreshed information regarding variousaspects of the job (Parthasarathy and Sohi 1997).

● [SFA involves the] application of technology to the selling function (Pullig etal. 2002).

● SFA supports the sales process by improving the speed and quality ofinformation flow among the salesperson, customer and organization (Speier andVenkatesh 2002).

SFA can thus be characterized by, and defined as, the application of softwareand web-based services to automate and support selling and sales management tasksand workflows.

<b>2. The SFA eco-system</b>

The SFA eco-system is made up of three components – SFA solutions providers,hardware and infrastructure vendors, and associated service providers.

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<b>Software vendors represent just a fraction of the overall SFA eco-system. SFA</b>

software necessitates compatibility with hardware platforms like Unix or Intel-basedcomputers, and often mandates integration with communication infrastructures such astelephony and email systems. A complex SFA project might require the deployment ofa number of servers – for example, for e-mail and Internet applications. Thus,hardware and infrastructure constitute another crucial aspect of the SFA ecosystem.Differences in the location, job descriptions, communications channels and markets

<b>served by salespeople can create significant challenges for both SFA hardware andinfrastructure. While office-based staff may be content with desktops or laptops,</b>

field sales representatives often prefer lightweight handheld devices like Palm Pilots orBlackberries. In cases where sales teams are dispersed geographically, SFA systemsmust support remote usage and web connectivity, requiring mobile solutions for datasynchronization with central databases. Additionally, SFA applications mustseamlessly integrate with various communication channels, such as web, email, andtelephone, each employing different technologies. In growing industries andcompanies, SFA applications must be supported by hardware and infrastructure thatcan sustain increased numbers of users.

The <b>services component of the SFA ecosystem</b> is very diverse. When a SFA projectis completed, service costs may be of an order of magnitude that adds significantly tooverall project expenditure. While hardware and software expenses typically rangebetween 10% and 50% of total costs, the remainder comprises service costs. SFAproject leaders might buy services from strategy consultants, business process

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consultants, software application consultants, technology and infrastructureconsultants and other outsourced service providers.

<b>3. The functionality that is available in SFA software applications</b>

SFA applications provide a variety of features, with some tools primarily utilized bysalespeople and others by sales managers. The following table lists tools applicableacross all stages of the sales process, including lead generation and scoring,opportunity identification, proposal generation, and order management.

SFA software functionality

<b>● Account management: Account management provides a centralized system for</b>

sales reps and managers to track all customer interactions, past and present,ensuring they stay on top of every opportunity and obligation for each account.

<b>● Activity management: Sales reps leverage activity management to stay on top</b>

of all tasks for accounts, contacts, and opportunities. This includes creating do lists, prioritizing, monitoring progress, and setting alerts for tasks likequotes, calls, and inquiries.

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to-Activity management

<b>● Collaboration: Collaboration among salespeople, facilitated by tools like chat,</b>

video conferencing, and file sharing, enhances selling success by enablingsharing of leads, customer data, and sales strategies, fostering teamwork andcommunication within sales teams.

<b>● Contact management: Contact management in SFA is essential, providing a</b>

central hub for building, sharing, and updating customer information. Thisfunctionality ensures a single view of the customer across departments,fostering informed interactions and improved customer service.

<b>● Contract management: Contract management functionality enables reps and</b>

managers to create, track, progress, accelerate, monitor and control contractswith customers. This functionality facilitates faster approvals, earlier renewals,and reduced administrative burdens, all while ensuring secure access control.

<b>● CPQ or Configure-Price-Quote: CPQ (Configure-Price-Quote) simplifies</b>

proposal generation by combining configuration, pricing, and quoting tasks. Itallows for customization of product-service bundles and pricing based on clientneeds and various factors, resulting in a tailored quotation.

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CPQ – Configure-Price-Quote

<b>● Event management: Event management functionality provides tools for</b>

planning, executing, and evaluating various events, ranging from conferences towebinars. It covers aspects such as attendee registration, marketing, partnermanagement, and venue coordination, ensuring smooth event operations andprofessional representation for the company.

<b>● Lead management: Lead management facilitates the capture, scoring,</b>

assignment, and nurturing of sales leads, ensuring efficient utilization ofresources and maximizing conversion rates. By automating processes andenabling personalized engagement, companies can prioritize leads effectivelyand fostering relationships through targeted nurturing campaigns.

<b>● Opportunity management: Opportunity management in SFA equips sales reps</b>

and managers to track potential sales (opportunities) through predefined salesmethodologies. These methodologies, like SPIN or SNAP, guide salespeoplethrough stages like qualification, proposal creation, and closing the deal. SFAtools can be pre-configured with popular methodologies or customized to fit acompany's specific approach. By following these methodologies, salespeopleensure consistent handling of opportunities and managers gain valuable insightsinto progress through reports on closure rates and sales stages.

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<b>● Order management: Order management streamlines converting quotes to</b>

orders after a sale. It automates processes, reduces errors, and accelerates theorder-to-cash cycle, benefiting both sales reps and customers through fasterorder processing and improved information sharing.

<b>● Pipeline management: Pipeline management tracks the entire sales journey,</b>

from identifying prospects, estimating sales potential, managing leads,forecasting sales, initiating and maintaining customer relationships, rightthrough to closure. Effective pipeline management minimizes lost opportunitiesthrough a defined process with stages like “initial meeting” and “salespresentation”.

Pipeline management

<b>● Product configuration: Product configuration tools allow salespeople or</b>

customers to design and price customized products or services. These toolsguide users through the process, ensuring valid options are chosen at each step.This benefits customers by enabling self-customization and reduces trainingneeds and errors for sales reps.

<b>● Product visualization: Sales reps and customers leverage product visualization</b>

tools to create realistic, computer-generated images or animations of productsbefore manufacturing. This aids in product configuration by allowing forcustomization and exploration of different options (colors, sizes,...) within avirtual environment.

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<b>● Proposal generation: Proposal generation solutions streamline the creation of</b>

customized, branded proposals for customers by drawing on databaseinformation. These solutions offer templates for various proposal types,ensuring consistency in branding and content while improving win ratesthrough personalized and professionally presented proposals.

<b>● Document management: Document management software facilitates control,</b>

organization, and accessibility of sales-related documents for reps, managers,and partners. It ensures documents remain current, secure, and easilyretrievable, including various materials such as brochures, specifications, andcompliance records, enhancing efficiency and compliance in the sales process.

<b>● Incentive management: integral to sales management, utilizes commissions</b>

and incentives to motivate and reward sales reps. When integrated into SFAsolutions, incentive management apps streamline processes, enhance accuracy,and provide transparency into commission structures, contributing to improvedefficiency and performance tracking.

<b>● Product encyclopedia: A product encyclopedia is a searchable electronic</b>

product catalog that generally contains product names, stock numbers, images,specifications and applications. These can be stored in the cloud or on reps’computers, smartphones and tablets.

<b>● Sales analytics: Sales analytics provide standardized and customizable reports</b>

for management to evaluate and influence sales team performance. Thesereports offer insights on various sales aspects such as contacts, contracts,orders, opportunities, proposals, and sales pipeline, enabling informed decision-making and strategy refinement.

<b>● Sales forecasting: Sales forecasting applications provide qualitative and</b>

quantitative tools for managers and sales reps to predict sales revenues andclose rates. These methods include collaborative estimates, time-series analysis,regression models, and interpretation of sales opportunity data, aiding resourceallocation and strategic planning within the business.

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<b>● Territory management: Territory management applications allow sales</b>

managers to create, adjust, and optimize sales territories, ensuring balancedworkloads and maximizing sales opportunities.

<b>● Workflow development: Workflow development in SFA allows for</b>

automation of sales processes (like lead management) by defining steps andactions. This improves process monitoring and enables context-specificfunctionalities for various industries.

<b>4. The benefits derived from SFA</b>

Vendors and consultants claim a number of benefits from SFA , including expeditedcash flow, reduced sales cycles leading to quicker inventory turnover, enhancedcustomer relations, heightened salesperson productivity, precise reporting, boostedsales revenue, increased market share, elevated win rates, decreased cost of sales, andimproved profitability. These tangible outcomes can be supplemented by intangiblebenefits such as reduced rework, timely access to information, and enhanced qualitymanagement reports. SFA vendors and consultants highlight a range of advantagesfrom SFA adoption that cater to various stakeholders:

<b>● Salespeople: SFA enables salespeople to sift through leads more efficiently,</b>

identifying high-quality prospects that are more likely to convert intocustomers. Moreover, the streamlined processes facilitated by SFA tools lead toshorter sales cycles, empowering sales personnel to swiftly move leads throughthe pipeline. This efficiency not only increases the number of closingopportunities but also enhances win rates as sales strategies can be tailoredbased on data-driven insights.

<b>● Sales managers: By providing a bird's eye view of the sales process, SFA tools</b>

enable managers to monitor team performance closely. This oversight, coupledwith access to comprehensive customer data, fosters stronger relationships withclients. Furthermore, SFA systems streamline reporting processes, ensuringaccuracy and timeliness in performance evaluations. With fewer lostopportunities and optimized resource allocation, sales managers can effectivelyreduce the overall cost of sales operations, thus bolstering profitability.

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