Date post: | 20-Aug-2015 |
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Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
Mastering the Sales Forecast: The Evolving Role of Finance
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Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
Mastering the Sales Forecast: The Evolving Role of FinanceJohn McGuigan, Global Inside Sales Leader, Regulatory DataCorp.
Define the Sales Process
• Mileposts/Tollgates– Events that define the sales process(s)– What qualifies a deal to be in Contract Stage?
• Criteria for exiting a sales stage and moving to the next– Does your team know what they need to move to the
next sales step?
• Match to CRM– Sales methods change does your CRM keep up?
Communication
• Provide the sales management and team with expectations– Does everyone know their expectations
• Allow finance to see the ‘ugly’ side of sales– Sit in on a deal review call– Invite to portions of a QBR
• Sales Management feedback loop from Prospects
Analysis
• Start by looking back– What do wins have in common from a sales stage
perspective?– How long does a deal spend in a stage? (win vs. loss)
• Use the data to look forward
• Arm your sales management with the tools and data
Sales Compensation
THE Root of It All!
Finance Perspective
Sales Perspective
Keys to a Good Compensation Plan
• Transparency– Sales reps should know what they will make on a deal
before it closes– When payments will be made– Changes to the plan ahead of time
• Alignment– Reward the behavior you want from the sales team– Create parts of the plan to move the business in the
direction you want it to move– Under/over paying for good/bad performance
Mastering the Sales Forecast: The Evolving Role of Finance
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