This is part one of a two part series of blogs written to help companies know when and why to automate their Channel Data Management.
It’s well known to most people working in the high-tech industry that automation is inevitable. Afterall, our industry is the driving force behind it. Something not as agreed upon however, is when exactly should automation be implemented, and where?
One critical area that all companies selling through channels should consider automating is Channel Data Management (CDM). Channel sales represent an important part of the modern tech company, often comprising over 70% of corporate revenue, making proper channel data management a vital task that often separates failing companies from thriving ones. Your organization might have a hard time knowing if it should automate the entire process of collecting, cleansing and managing channel point-of-sale (POS) and inventory data, due to the inherent complications associated with the process.
If waiting for weeks or months on POS data is a common occurrence while managing your channel sales, that’s the first sign you should automate. In the modern world, the age-old adage ‘Time is Money’ only becomes more relevant. Every minute you spend waiting on data which could be automated is a minute you spend giving your competitors an inexcusable edge.
The next sign is an increase in data collection and support costs while quality diminishes. If your company has seen a significant increase in channel operations, the manual methods you might have once used to move and track data, such as spreadsheet-based or homegrown solutions, will quickly prove tedious and unreliable due to possible human errors.
The third sign you should consider automation is if your sales reps have started to question commission reports and payouts. Any amount of time that a sales rep spends validating commission data is unproductive. Automating the process of POS data collection, cleansing, and mapping to opportunities, eliminates rebate overpayments (in some cases 7-figures!) and ensures accurate sales commission payouts. Your sales reps will spend less time validating, and more time selling!
Model N has used its 18 years of experience helping hundreds of companies like yours to create a list of six key signs that you should automate your Channel Data Management. Keep an eye out for part two of this blog series to see the last three signs, and download our new eBook Six Signs It’s Time to Automate Channel Data Management to learn more.