SALES MANAGEMENT

COURSE MATERIAL OUTLINE

I. Introduction

• Brief explanation of the importance of Sales Management in business.
• Purpose and objectives of the study material.
• Overview of Trackeet and its role in Sales Management.

II. Trackeet Overview

• Introduction to Trackeet.
• Features and capabilities of Trackeet.

III. Practical Examples with Trackeet

• Step-by-step guide using Trackeet.

IV. Case Study: Implementing Trackeet for Sales Management

• Detailed steps on how Trackeet can be implemented to address these challenges.
• Benefits and outcomes of using Trackeet in the case study.

CASE STUDY: D’MAYOR GAMES HUB

Mr. Mayowa is an entrepreneur who recently started a game center business with big ambitions to make millions, especially since there are many young people in the area. The center offers various forms of entertainment, including a PS5 gaming console, snooker, and a swimming pool.

For the PS5 gaming:

• Players are charged 500 naira per game.
• If two players are competing, they both pay 500 naira each.
• After each game, the loser pays another 500 naira to continue playing.
• The winner keeps playing until they're defeated or have no more opponents.

For snooker:

• The game starts with a coin from the cashier, and the player pays 500 naira in order to play. All these transactions are recorded in a book.

Swimming:

• Adults pay 1,000 naira to use the swimming pool.
• Children pay 500 naira to also swim.

Additionally:

• The center sells alcoholic drinks, soft drinks, bottle water, and roasted meat.
• All the sales are meticulously recorded in a book.
• The cashier contacts the owner to confirm bank transfer, she uses POS card and also collects the cash.
• The cashier deposits the money in the bank the next day.

We want to use Trackeet to manage this sales and simplify their business processes.

I. INTRODUCTION

Sales Management is a vital part of any successful business. It involves the strategies and activities that help a company make money and grow. Here's why Sales Management is so important:

• Making Money: Sales Management is all about bringing in money for the business. This money is like the blood that keeps the business alive and allows it to grow.
• Getting and Keeping Customers: Sales Management helps businesses find new customers and keep the ones they already have. It's like building long-term relationships with customers.
• Growing into New Markets: Sales managers explore new areas to do business and find ways to expand the company's reach.
• Making Products Better: Sales teams listen to customers and use their feedback to improve the products and services a business offers.
• Making More Profit: Sales Management helps businesses make as much profit as possible by setting prices, managing costs, and using resources efficiently.
• Standing Out in the Crowd: In a competitive world, Sales Management can help a business be different and special, making it stand out from the competition.
• Using Data to Decide: Sales Management relies on data to make smart decisions. They look at sales numbers, customer behavior, and market trends to plan their strategies.
• Keeping Employees Happy and Skilled: Sales managers make sure their sales teams are motivated and well-trained, which leads to better results.

treamline sales processes and data analysis.

Overview of Trackeet and its role in Sales Management.

INTRODUCTION TO TRACKEET

Trackeet is a comprehensive software solution designed to streamline and enhance various aspects of business operations. It offers a wide range of functionalities and modules tailored to meet the unique needs of businesses, including Sales Management.

Trackeet boasts a multitude of features that make it an invaluable tool for businesses aiming to improve their Sales Management processes:

• Trackeet enables businesses to efficiently manage and process sales orders.
• It streamlines order entry, order processing, and order fulfillment, reducing errors and increasing efficiency.

• The CRM module in Trackeet helps businesses build and maintain strong customer relationships.
• It tracks customer interactions, sales leads, and communication history to enhance customer satisfaction.

• Effective inventory management is crucial for sales success, and Trackeet offers robust inventory tracking and control capabilities.
• It helps optimize stock levels, reduce carrying costs, and ensure products are readily available for customers.

• Trackeet provides powerful data analytics tools that allow businesses to gain insights into their sales performance.
• Customizable reports and dashboards enable data-driven decision-making.

• Trackeet’s wallet features facilitates financial transactions within the system.
• Users can manage financial data and perform various transactions on the wallet, like send cash, request cash, buy data/airtime.

• The scheduling feature on trackeet helps users to be able to book appointments and make payments with ease and convenient time.

ROLE OF TRACKEET IN SALES MANAGEMENT

Trackeet plays a pivotal role in enhancing Sales Management processes:

• With Trackeet, sales orders are processed quickly and accurately.
• This reduces order fulfillment times and ensures a seamless customer experience.

• The CRM feature allows sales teams to track customer interactions, preferences, and histories.
• This data enables personalized communication and better understanding of customer needs.

• Trackeet provides real-time visibility into inventory levels.
• Sales teams can check product availability, reducing the risk of stockouts or overstocking.

• Sales analytics and reporting tools empower businesses to analyze sales trends, identify opportunities, and make data-driven decisions.
• This leads to more effective sales strategies and increased revenue.

II: SALES MANAGEMENT FUNDAMENTALS

DEFINITION AND SCOPE OF SALES MANAGEMENT

Sales Management is a critical function within an organization that involves planning, directing, and overseeing activities related to the sales of products or services.

The scope of Sales Management can be summarized as follows: Sales Management involves many tasks to make a business succeed. Here are the key things it includes:

1. Setting Sales Goals: Deciding what the business wants to achieve in terms of sales, like making more money or getting new customers.
2. Sales Planning: Making plans on how to sell products, including who to sell to, how much to charge, and how to promote them.
3. Managing Sales Teams: Taking care of the salespeople, like hiring, training, and evaluating their performance.
4. Customer Relationships: Building and keeping good relationships with customers, understanding their needs, and making them happy.
5. Sales Predictions: Trying to guess how much the business will sell in the future by looking at past sales and market trends.
6. Sales Processes:Making sure that all the steps from finding potential customers to closing deals are clear and work well.
7. Territory Management: Dividing the areas where the business sells into sections for different salespeople.
8. Evaluating Performance: Checking how well sales teams and individuals are doing using measures like sales goals, conversion,
9. Using Technology: Using tools and technology to improve the sales process, like customer management software, analytics, and communication tools.
10. Marketing Collaboration: Working with the marketing team to create and run promotions to get more customers and support sales.
11. Market Research: Studying the market and competitors to stay updated and adjust strategies as needed.
12. Reporting and Analysis: Creating and looking at reports to make decisions and find ways to do better.
13. Adapting to Change: Being flexible and changing strategies when needed due to shifts in the market, technology, or customer preferences.

In short, Sales Management is a big part of making a business successful by planning, organizing, and improving how products are sold and how customers are taken care of. It's crucial for businesses that want to do well in competitive markets and keep growing.

FUNCTIONS OF SALES MANAGEMENT:

Sales Management involves several important functions to ensure success. Here's a breakdown of what it covers:
1. Sales Planning and Strategy: Develop plans to reach sales goals and adapt to changes in the market.
2. Sales Team Management: Taking care of the sales team, including hiring, training, and keeping them motivated.
3. Customer Acquisition and Retention: Getting new customers and keeping the ones you have happy.
4. Sales Process Efficiency: Making the sales process smooth and cost-effective, from finding leads to closing deals.
5. Performance Monitoring: Keeping an eye on how well the sales team is doing using specific measures and data.
6. Using Technology: Choosing and using tools and technology to improve the sales process and communication.
7. Market Research: Staying updated on market trends, customer behavior, and what the competition is doing.
8. Sales Training: Keeping the sales team trained and up-to-date with industry knowledge.
9. Budgeting: Planning and managing the budget to support sales activities.
10. Marketing Collaboration: Working with the marketing team to run promotions and generate leads.
11. Customer Feedback: Listening to what customers have to say to improve products and services.
In short, Sales Management follows a customer-focused approach and involves planning, teamwork, data-driven decisions, and the ability to adapt to changing conditions. These functions all contribute to reaching sales goals and growing revenue.

III. TRACKEET OVERVIEW

Introduction to Trackeet.
What is Trackeet?

Trackeet is a robust Enterprise Resource Planning (ERP) software designed to make business operations easier. It gives companies a single place to handle things like managing inventory, sales, and finances. By using Trackeet, businesses can work more efficiently, reduce manual tasks, and get important information for better decision-making.

Key Features and Capabilities of Trackeet:
1. Inventory Management: Trackeet offers comprehensive inventory management capabilities. Users can monitor stock levels, track item movements, and optimize inventory to prevent stockouts and overstocking.

Example: A retail store can use Trackeet to keep track of product quantities, reorder products when stock is low, and avoid excess inventory costs.

2. Point of Sales(POS): The software facilitates seamless sales order processing, from order creation to invoicing and payment tracking.

Example: An e-commerce company can use Trackeet to automate order fulfillment, generate invoices, and monitor outstanding payments.

3. Financial Management: Trackeet includes robust financial management tools for tracking income, expenses, and financial transactions.

Example: A small business can use Trackeet to manage its accounting, generate financial reports, and stay compliant with tax regulations.

4. Reporting and Analytics: The software provides a range of reporting and analytics tools, enabling users to gain insights into business performance.

Example: A Pharmaceutical outlet can use Trackeet to analyze production efficiency, track costs, and identify areas for improvement.

5. CRM Integration: Trackeet seamlessly integrates with Customer Relationship Management (CRM) systems, allowing businesses to manage customer interactions and data.

Example: A sales team can use Trackeet to access customer profiles, track sales history, and provide personalized service.

6. User-Friendly Interface: Trackeet features an intuitive and user-friendly interface that simplifies navigation and promotes user adoption.

Example: Employees at all levels of an organization can quickly learn to use Trackeet to improve their workflow.

7. Wallet: Trackeet wallet is a digital tool that allows individuals to store, transfer, manage, and access their money, payment methods, and financial information. It can be used to receive money from customers and money can be transferred to your bank directly. It has features like send money, Request Money, Airtime, Data etc.

Example: A retail business utilizes Trackeet Wallet for customer payments, supplier transactions, customer rewards, and corporate payment requests.

8. Schedule: The scheduling features are valuable for individuals and businesses looking to manage their time effectively, plan work orders, and collaborate with others.

Example: A barber can utilize the scheduling function to enable their customers to make appointments with them.

Benefits of Trackeet:
• Efficiency and Automation: Trackeet automates manual tasks, reducing errors and saving time.
• Data Accuracy: Centralized data management ensures data consistency and accuracy across the organization.
• Cost Savings: Improved inventory control and resource optimization lead to cost savings.
• Data-Driven Decision Making: Access to real-time data and analytics empowers informed decision-making.
• Enhanced Customer Service: CRM integration enables better customer relationship management.
• Scalability: Trackeet grows with your business, adapting to changing needs.
In summary, Trackeet is an all-in-one software that simplifies business operations with centralized control over inventory, sales, and finances, helping businesses enhance efficiency, cut costs, and make informed decisions.

IV. PRACTICAL EXAMPLES WITH TRACKEET

Step-by-step guide using Trackeet.
CASE STUDY: D’MAYOR GAMES HUB

Mr. Mayowa is an entrepreneur who recently started a game center business with big ambitions to make millions, especially since there are many young people in the area. The center offers various forms of entertainment, including a PS5 gaming console, snooker, and a swimming pool.

For the PS5 gaming:
• Players are charged 500 naira per game.
• If two players are competing, they both pay 500 naira each.
• After each game, the loser pays another 500 naira to continue playing.
• The winner keeps playing until they're defeated or have no more opponents.
For snooker:
• The game starts with a coin from the cashier, and the player pays 500 naira in order to play. All these transactions are recorded in a book.
Swimming:
• Adults pay 1,000 naira to use the swimming pool.
• Children pay 500 naira to also swim.
Additionally:
• The center sells alcoholic drinks, soft drinks, bottle water, and roasted meat.
• All the sales are meticulously recorded in a book.
• The cashier contacts the owner to confirm bank transfer, she uses POS card and also collects the cash.
• The cashier deposits the money in the bank the next day.
We want to use Trackeet to manage this sales and simplify their business processes.
Step 1: Sign Up and Log In

Visit the Trackeet website (https://trackeet.app/) or you download the app on play store or apple store and sign up for an account. You may need to provide some basic information about your business.



Once you've signed up, log in to your Trackeet account using your credentials.

Step 2: Set Up Your Organization
After logging in, you'll be prompted to set up your organization. Enter your organization's name, business setting, bank setting, stock setting and other relevant information. This information will help customize your Trackeet account.
Step 3: Add Products

Visit the overview page and click on 'Create Items.' Here, you'll update and upload all the electronic gadgets and accessories you sell in your store. Provide product details such as name, selling price, cost price, unit of measure, category, reorder quantity, barcode, description, and an image, then save.


Step 4: Procure Products
To sell products, you first need to make purchases. On the overview page, click the '+' icon for purchases. Set the invoice date and payment date, choose the vendor and warehouse. If it's a paid invoice, click on it, add items with the paid amount (if applicable), include a note, and then create the purchase.
Step 5: Sales Transaction

Access the 'POS' section, then click the '+' icon on the 'Who Are You Selling to' page to create a new customer or select an existing customer. Fill in customer details and save. Next, click the customer's name to proceed. Enter the product's serial number or use 'See All Products and Services' to add your desired item to the cart. Click on the cart to initiate payment, select the payment method, enter the amount paid, and then submit the payment.


Step 6: Generating Reports
Access the 'Reports' section to view the daily report. Click on 'Filter By' to specify the report range and apply the filter. The report will display details on sales, payments, including net sales, taxes, discounts, total sales, and the cost of sales for the selected date range. You can also generate a Money Report using the same process, providing insights into your bank account balances and other account breakdowns.
Step 7: Inventory Management

To check your product inventory, click on 'Inventory.' Choose the relevant warehouse (e.g., in-store, work-in-progress, finished goods). Then select the product you want to review. You'll see a list of all available products along with their in-stock quantities. This information helps you decide whether to reorder items or simply keep track of your stock levels.


Step 8: Accounting Overview

In this section, you can access your income statement, whether on a yearly or daily basis. View your total account balance, all transactions, total revenue, total expenses, other incomes, sales, cost of sales (inventory cost), net income, and a detailed breakdown. Simply click on 'Accounting,' then use the 'Filter By' option to select the reporting period, whether yearly, quarterly, monthly, or daily, to generate your income statement report.


Step 9: Use of Wallet

To use the wallet, you must activate it. Click on the wallet and choose 'Apply for Wallet.' You'll find 'Add Money' for depositing funds and 'Cash Out' to transfer money to your local bank account. 'Request Cash' lets you ask Trackeet Users or others for money, even for outstanding customer payments. There's also 'Send Cash' to pay your workers or suppliers; just input the amount, select the recipient, enter a phone number, and confirm with your PIN. The wallet includes an 'Airtime and Data' feature for easy mobile top-ups. One of the key benefit of the wallet simplifies sending money to a recipient account or bank, making it more efficient and reducing the need for traditional banking method.


Step 10: Use of Scheduling

The business owner has the capability to share a link with customers, allowing them to access the available dates and book appointments. Customers can view the schedule, select a date, choose a service, receive the service cost, input their information, and make a payment. Once completed, a notification is sent to the business owner, providing details about the service, customer, and appointment time.



Note: The step-by-step guide provided is a practical example of how to use Trackeet, whether through the app. There are various methods to achieve your goals within the software. This process offers a simple overview of how to navigate the software effectively. We've covered making sales, purchases, creating customers, wallet and scheduling feature, checking reports, and getting an overview of accounting. To explore more features and uses of Trackeet, you can practice independently and discover additional functionalities.

Implementing Trackeet to Address Sales Management Challenges
Step 1: Setup and Onboarding
• Download Trackeet app or visit the web page: First, TechXcellence Solutions needs to download the Trackeet app. This can be done by downloading on play store/ apple store or visit www.trackeet.app.
• Data Migration: To ensure a smooth transition, TechXcellence should collaborate with Trackeet's support team to migrate existing sales data and customer records into the system.
• User Training: Conduct training sessions for employees to familiarize them with Trackeet's interface and functionalities. Ensure that they understand how to input sales data, manage inventory, and use customer relationship tools.
Step 2: Sales Data Entry Automation
• Sales Recording: Start using Trackeet to record daily sales transactions. Use the point-of-sale (POS) module to automate the process of capturing sales data, reducing manual entry errors.
Step 3: Inventory Management
• Inventory Setup: Configure Trackeet to manage inventory efficiently. Create product profiles with details such as SKU, description, selling price, and cost price.
• Inventory Tracking: Use Trackeet to track inventory levels in real-time. Implement automated alerts for low stock levels to prevent stockouts.
Step 4: Customer Relationship Management (CRM)
• Customer Database: Build a comprehensive customer database within Trackeet. Input customer details, including contact information, purchase history, and preferences.
Step 5: Automated Reporting
• Report: Trackeet's reporting features to generate daily, weekly, monthly, and yearly sales reports tailored to TechXcellence's specific needs.
• Key Metrics Analysis: Analyze reports to gain insights into key metrics such as revenue, expenses, profit margins, and sales trends. Use these insights for datadriven decision-making.
Step 6: Continuous Optimization
• Regular Training: Conduct ongoing training sessions to keep employees updated on new Trackeet features and best practices.
• Feedback Collection: Encourage feedback from staff regarding Trackeet's usage. Make adjustments and improvements based on their input.

By following these implementation steps, TechXcellence Solutions can harness Trackeet's capabilities to address its sales management challenges effectively. The integration of Trackeet will streamline operations, improve data accuracy, and empower the company to make informed business decisions.

V: CASE STUDY: IMPLEMENTING TRACKEET FOR SALES MANAGEMENT

Introduction

Welcome to this comprehensive case study that delves into the implementation of Trackeet, a cutting-edge cloud-based business management software, for sales management in a fictional business setting. In this study, we will explore how Trackeet can transform and optimize the sales processes of a company known as ' D’Mayor games hub,' a leading provider of games and entertainment centre.

The Fictional Business: D’Mayor games hub

D’Mayor games hub is a game Centre where different games are being played and paid for. With a strong commitment to delivering top-notch products to its customers, D’Mayor games hub has experienced significant growth over the past few years.

However, as the business expanded, so did the challenges associated with managing sales processes efficiently. The management at D’Mayor games hub recognized the need for a robust sales management solution to streamline their operations, enhance customer relationships, and drive growth.

The Challenge
D’Mayor games hub faces several challenges in its sales management process:
• Manual Data Entry: Sales data is currently entered manually, leading to errors and inefficiencies.
• Inventory Management: Tracking product inventory levels and reordering processes are time-consuming and error-prone.
• Customer Management: Managing customer data and tracking interactions is becoming increasingly complex as the customer base grows.
• Sales Reporting: Generating accurate and insightful sales reports for decisionmaking is a time-consuming task.
The Solution: Trackeet

Recognizing these challenges, D’Mayor games hub decided to implement Trackeet, an integrated business management solution that offers features for sales, inventory management, customer relationship management, and reporting. This case study will guide you through the implementation process and demonstrate how Trackeet addresses the specific needs of D’Mayor games hub.

In subsequent sections, we will walk you through each step of the implementation process, from setting up Trackeet to managing sales leads, making purchases, and generating reports. You will gain valuable insights into how Trackeet can enhance sales management for businesses in the technology retail sector.

Learning Objectives
By the end of this case study, you will:
1. Understand the core features and functionalities of Trackeet for sales management.
2. Be able to apply Trackeet to real-world business scenarios.
3. Learn how to optimize sales processes, manage customer relationships, and monitor business performance using Trackeet.
Benefits of Trackeet Implementation
1. Improved Efficiency
• Automated Sales: Reduced manual errors and time spent on sales data entry.
• Real-time Inventory: Prevented stockouts through real-time inventory tracking.
2. Enhanced Customer Relations
• Centralized CRM: Quick access to customer data and communication history.
• Scheduled Follow-ups: Timely customer follow-ups for increased engagement.
3. Streamlined Lead Management
• Efficient Lead Tracking: Systematic lead conversion with prioritization.
• Data-Driven Decisions: Informed decisions on lead conversion strategies.
4. Data-Driven Insights
• Reports: Tailored reports for sales performance and profitability.
• Profit Optimization: Identified cost-saving opportunities and pricing strategies.
5. Operational Efficiency
• Time Savings: More focus on strategic tasks due to reduced manual work.
• Error Reduction: Fewer data entry errors and improved accuracy.
6. Business Growth
• Scalability: Easy adaptation to business growth, new products, and customers.
• Competitive Edge: Improved operations and customer service for a competitive advantage.

In summary, Trackeet's implementation has brought efficiency improvements, enhanced customer relations, streamlined lead management, data-driven insights, operational efficiency, and growth potential to TechXcellence Solutions, helping them excel in the technology retail sector.

V111: Conclusion

This study material has provided a foundational understanding of Sales Management's significance in contemporary business operations. We explored the fundamental principles and functions of Sales Management, guiding us through the sales process, from lead generation to deal closure.

Moreover, we introduced Trackeet as a valuable tool in Sales Management. We discussed Trackeet's features and capabilities, highlighting its ability to streamline sales processes efficiently. Practical examples demonstrated how Trackeet can be employed to manage sales leads and opportunities effectively.

The case study showcased the real-world application of Trackeet in a fictional business scenario. By addressing the challenges faced by the business and illustrating the step-by-step implementation of Trackeet, we witnessed the tangible benefits and positive outcomes achieved through its utilization.

In essence, this study material equips students with essential knowledge about Sales Management and introduces them to Trackeet as a practical solution to enhance sales processes and drive business success.'