Artificial Intelligence Systems as the Engine of Change
Automation and artificial intelligence are integrated into many areas at high speed. Popular science magazines and news programs report on it, mostly in a form that causes fear in many people. Artificial intelligence has evolved from a pure field of research to an assistance function in many areas. The focus is mostly on automation and the development of a new paradigm of the workplace of the future.
“It enables unprecedented precision in decision-making and gives employees the opportunity to focus on activities that are vital to their job,” said an executive from a major German insurance company at a conference on the transformation of the economy through the use of technology.
Sales processes and the use of artificial intelligence
If this blog article had been published 10 years ago, it would have been considered science fiction and would have been labelled too visionary. It is therefore important to investigate how Artificial Intelligence is changing the industries and especially the organizational structures. For several years now, marketing has been regarded as a test environment for automation and the introduction of partially autonomous systems to make daily work easier. Sales, and in particular e-commerce, is about to integrate artificial intelligence as a sales-supporting assistant. Large software manufacturers, such as Salesforce, have been propagating the blessings of a sales organization supported by artificial intelligence for several years.
The sales function within a company can include many roles. From account executives and relationship managers to consultants and technical implementation specialists. From today’s perspective, 4 sales processes can be considered predestined to use Artificial Intelligence today.
The process of collaboration in sales and marketing will be tighter than ever before
Sales and marketing have traditionally played two different roles in a company. Marketing was responsible for increasing demand, sales for concluding a sale/deal. With the integration of AI into sales and marketing instruments, the objectives and targets between the two functions are more closely linked. These tools make it easier to be transparent across functions, enabling better bi-directional communication flow.
Sales automation is optimized with less effort
Sales Force Automation is the term used to describe the use of software in an enterprise to automate the collection, analysis, and distribution of data in a sales pipeline. In recent years, companies have introduced a variety of SFA tools. In fact, one of the main causes of productivity loss in companies is the addition of redundant applications, leading to media disruption at the workplace. Artificial intelligence will lead to a strong reduction of SFA tools and thus put productivity back in the foreground of sales work.
Sales Performance Management (SPM) is based on precise forecasts
There is an art and science to motivating sales teams. In the past, the sales manager defined performance management structures based on his previous experience or current industry best practices. With the evolution of Artificial Intelligence, we can now take a deeper look at SPM. We can look at the past of incentive compensation and plan accurate forecasts to help sales teams achieve these goals. When sales forecasts are more accurate, sales teams are more motivated. They can rely on a higher level of certainty in meeting quotas, not on an increase in compensation itself.
Sales support will be based on optimised workflows
According to the State of Sales report by Salesforce, sellers spend only 34% of their time on sales. They spend most of their time on non-sales activities that produce what we call the Sales Productivity Gap. Many spend this time preparing quotes, finding the right content, planning follow-up meetings and other administrative activities. To allow the sales team to focus on sales again, companies begin to focus on activities that take up valuable time. Artificial intelligence can already help facilitate some of the high-volume, low-value tasks by automating workflows.
In summary, the integration of Artificial Intelligence into sales processes will help the sales team to focus on its core activities and to regain productivity gains through the assistance function of Artificial Intelligence.