According to Salesforce, simple tasks like data entry and paperwork once took so many hours that sales teams spent only a third of their time making sales. But times are changing. By throwing a little artificial intelligence (AI) and automation into the mix, it’s possible to remedy this. Here Renaud Charvet, CEO of the software provider for cloud phone systems ringoverexplains how revenue intelligence can improve any business function.
The future of sales lies in data-driven decision making. Sales teams have an extensive list of tasks to complete in order to perform well, with an overarching focus on maintaining positive customer relationships. To take some of the pressure off, many are turning to AI-based sales solutions. Indeed acc gardenerby 2025 it will be the strategy of choice for 75% of sales organizations worldwide.
sales information
Revenue Intelligence is the latest AI-powered innovation transforming the sales team experience. Using a combination of AI algorithms and automation flows, Revenue Intelligence gives companies insights into all phases of the revenue lifecycle in their company. These insights can be used to guide marketing, sales and finance decisions to ensure all departments are working as effectively as possible.
What started as conversational intelligence has evolved into a full-fledged AI sales toolkit. Combining natural language processing, AI, and automation, revenue intelligence platforms connect to each member of the sales team’s calendar and automatically scan for upcoming meetings, calls, or demos with prospects. When an agent starts the call, an AI bot joins as a virtual participant and automatically records the session.
It then transcribes speech into text using natural language processing and uses its AI model to analyze calls and their content to determine what to advise team members to do to secure a sale. Supporting every decision with data aggregated from all team members gives companies unprecedented insight into their sales strategy so they can monitor leads, guide individuals on best course of action, and better predict revenue growth.
benefits for everyone
Not only can the sales department benefit from revenue intelligence, they are by far the biggest beneficiary. Sales departments have long struggled with slow onboarding, inconsistent conversations between employees, and difficulty determining which strategies are working. By recording and analyzing every call, Revenue Intelligence captures every customer interaction and applies the AI algorithm to determine the next best course of action. This ensures that the conversations are consistent no matter which team member they are speaking with or their level of experience.
For newer employees, it makes deal coaching easier. The AI algorithm provides real-time feedback on what performed well on a call and provides guidance on what should be done next to win the sale. For management, it also provides 100% visibility of a department. Managers can see who and what strategies are working well, and pay more attention to team members who may be struggling more.
Access to this data for all departments can also help shape marketing and product strategies. A transcript of every single customer interaction automatically gives a company an unfiltered insight into the customer’s opinion. This real-time customer feedback can be used to immediately implement changes in go-to-market strategy, project direction and marketing focus.
From a financial perspective, Revenue Intelligence’s data-driven strategy enables companies to forecast with confidence. There is no risk of data being incorrect as all information is entered automatically through the platform’s automation flows. This allows finance departments to forecast revenue with greater accuracy and set more achievable goals, supported by a data-driven decision-making process.
Consistent cloud calls
To get the most out of a revenue intelligence platform, it’s important to integrate it with a cloud phone system to give teams ultimate visibility into customer conversations. Calls are instantly scanned and highlighted so teams can focus on the core task, making the sale.
Once a revenue intelligence platform is integrated with a cloud phone system and a call is initiated, the AI algorithm and automation flows are triggered to gather all the data required for the conversation. After the call ends, team members can access the actionable insights through their revenue intelligence platform to determine the next step.
Phone calls remain an essential step in building and maintaining customer relationships. Adding a touch of AI and automation can simplify the sales force’s day-to-day life and free up more time to focus on the tasks that are important to building relationships and winning conversations.
The author is Renaud Charvet, CEO of cloud phone system software provider Ringover.
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