SAP sales cloud is a software as a service (SaaS) platform specially designed to maximize sales and customer service. The solution is curated as a mobile-first approach to meet the requirements of modern sales and customer service professionals who need instant access to information about customers at any time and in any location. The focus is on ease of use and getting more productivity rather than spending time to find information. The worldwide public cloud computing market continues to grow and is expected to reach an estimated 482 billion U.S. dollars in 2022, says Statista.
Integrating SAP Sales Cloud helps organizations connect and guide customers throughout their buying journey, thus enabling business prosperity. The solution emphasized allowing sales professionals to spend more time selling with less hassle. Today, 1.3 billion business identities are managed in SAP Customer Data Cloud.
According to the SAP financial reports, the largest share of corporate revenue stems from cloud and software sales, which accounted for 23.23 billion euros of their revenue in 2020. SAP has a robust ecosystem comprises of over 21,000 partners worldwide with 200 million cloud users leveraging SAP solutions in 180 countries. Further, 91 percent of Forbes Global 2000 are SAP customers.
SAP Sales Cloud portfolio is a key pillar of the SAP S/4HANA suite. It helps business firms to gain first-hand insight into their sales capabilities and ways to scale and enhance the same. Today's customer has a great deal of control over their buying journey. By the time a customer reaches out to a vendor, they're already halfway through their decision-making. This means that a company's sales teams are already behind the game, even before their first contact with the prospect. Cost-cutting tops the list of the reasons why enterprises choose to adopt the cloud, says Datometry.
To overcome these new challenges, your sales reps need tools that quickly enable them to adapt to the ever-changing selling journeys of today's customers. What if your sales reps knew everything about your customers in a single view or always had the right answer available for any question? For example, customer insights such as:
SAP Sales Cloud allows your sales reps to engage with customers like never before.
Today's sales teams require a complete view of their customers at their fingertips. They need a solution that intelligently guides your sales reps throughout the selling journey in areas like creating maximum value to the customer by providing the right combination of products and services along with the right messaging offering the right price to the customer in order to win the deal without leaving money on the table. 36% of enterprises spend more than $12 million on cloud services annually, according to Flexera. With the expanded SAP Sales Cloud Portfolio, we have brought together this comprehensive set of capabilities, which enhance your sales team's day-to-day productivity, leading to better customer experiences and improved sales outcomes. The customer experienced a 70% quicker time-to-delivery for app development projects, with a 40% cost reduction.
Securing long-term relationships with effectively negotiated contracts to keep your sales reps on track they also need instant visibility to their sales performance and understand how their commissions are being affected in real-time. Sales teams also want a simple solution that captures customer interactions effortlessly. Lastly, sales reps need a solution that intelligently tracks and updates sales forecasts so that sales managers can focus on coaching for improved execution.
The solution packs a robust set of simple, user-friendly UI features that bring in capabilities like lead management, opportunity management, account management, and more. This also comes with embedded machine learning features powered by SAP Leonardo, which automatically provides actionable insights to the sales executives. It helps them with quick data analysis and thereby helping them pick the best deals to pursue. $20 billion was the Quarterly SaaS spending in Q2 2018, according to Synergy Research Group.
SAP Sales Cloud solution is also available in industry variants. For example, Retail Execution is a variant that helps companies in the Consumer Product Goods & retail industry to manage a perfect Store execution. Retail Execution guides merchandisers and on-site sales teams with visit planning, surveys, and offline mobile capabilities. One of the huge benefits that no other solution has is that it can seamlessly be integrated to SAP ERP or SAP S/4 HANA. This enables you to give an accurate, real-time inventory and pricing detail for seamless back-office processes. SAP Intelligent Sales Execution, previously known as Datahug, helps with pipeline management, accurately forecasts revenue, and grows customer accounts. The Sales Enablement solution enables sales reps to get the right content, training and coaching to win deals.
SAP Commissions is a market-leading solution that helps streamline incentive compensation management, distribution, and approvals while reducing overhead and maximizing value. It also allows intelligent add-on solutions like Workflow, Thunder bridge AI, Territory and Quota and Analytics. On the other hand, SAP ProducerPro is a product tailored for the Insurance industry, managing the onboarding, compliance, communication and data centralization of agents or entities that serve the Insurance provider.
SAP CPQ or Configure - price-quote is a deal maximizer. It allows you to configure complex products and services and provides intelligent cross-sell and upsell recommendations with optimized pricing and discounts. Adding more value to this capacity are Contract Lifecycle Management features that facilitate the end-to-end contract negotiation process. The fourth set of solutions fall under Revenue Management. This collection of capabilities enables you to support new pay-as-you-go business models easily. SAP Subscription billing and its allied products such as SAP Entitlement Management, SAP Data Mediation by Digital Route help manage the end-to-end process for subscription-based products and services. So this gives you a comprehensive overview of all the capabilities bundled within the SAP Sales Could portfolio.
Starting with Intelligent Sales Automation, Configure Price Quotes, Sales Performance management and all the way to Revenue Solutions. In addition to these capabilities, it is also important to mention that the SAP Sales Cloud portfolio can be easily tailored to your daily business needs. For example, it can be configured differently for a sales manager responsible for several territories or a key account manager focused on nurturing a customer relationship or a merchandiser who constantly engages with his retail store managers. Hence, SAP Sales Cloud portfolio helps expand the set of sales organization capabilities to improve customer relationships and drive profitable growth.
It has become critical for sales team to have the right set of tools that deliver the insight needed to quickly identify key decision-makers and establish a comprehensive understanding of customer objectives. Nexus offers interactive and robust features which empowers sales team on multiple fronts and fully equips by breaking down analytical data of customer information to convert into sales.