Jim Holland, Sr. Product Marketing Manager
From ongoing research and interaction with Model N customers and prospects, high-tech and semiconductor companies who sell through channels can boost channel revenue by an average of 15%. I don’t know about you, but there’s not a CEO, CFO or sales leader who wouldn’t give a lot to find double-digit revenue.
Where is this missing 15%? Whether you know it or not, it’s sitting right in your channel!
If you’re generating over 70% of corporate revenue through channel partners, you may be missing channel revenue. Many companies rely on homegrown methods such as complex spreadsheets or outdated applications to track channel sales from point-of-sale (POS) data. Dedicating valuable IT and financial resources to build and maintain in-house solutions and engaging external staff to move and manipulate huge volumes of data costs time and money. However, these manual processes are slow, error-prone, and subject to skills of individuals not familiar with your business or channel, not to mention it doesn’t eliminate bad data.
Without consistent and reliable channel data automation, processes and partner management, spreadsheet-based or homegrown solutions deliver much less accuracy and insights—meaning you could be making assumptions based on bad data. Did you know that moving from monthly to daily or weekly collection, management and reporting can boost channel sales by an average of 15%. For a $500-million company, that’s a potential $75 million return!
Does automating your channel sales data make a difference? Yes. With timely channel data in hand, you can quickly adjust sales forecast and plans for changing field or market conditions. Real-time and consistent data lets you fine-tune sales strategies by product line or region and boost support to high-performing partners. Instead of waiting for quarterly business meetings, you can actively engage channel partners on a regular basis with trusted, and detailed data. Additionally, you’ll be better equipped to stay on track with revenue goals, capitalize on deals and market opportunities, more accurately forecast and manage inventory, and post financial results on time.