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How Technology is the Driving Factor for Sales?

By CIOReview | Monday, July 6, 2020

Search engines have changed the way of thinking, searching, and analyzing data, which has made finding information more accessible, and data control power to shift from the hands of companies and salespeople to the end-user.

Fremont, CA: Technology is transforming businesses and disrupting industries as well, and one of those industries that have been profoundly impacted is sales. Staring from prospecting to closing, today’s mobile, big data, and cloud technologies are revolutionizing the sales process in ways that would have been a far-fetched truth a few decades ago. As a result, many sales organizations embrace new technologies to drive productivity, profitability, and competitive advantage to revamp the sales process.

It can only be speculated that the current technology will keep on evolving at a much faster pace than before; the world is witnessing emerging technologies and new smart trends. The dramatic evolution of technology is blurring the lines between the virtual and physical worlds. The Internet of things (IoT) is changing electronics, home appliances, and cars into smart technologies that can interact and remind the user of tasks and events. Smart cities have already arrived, intelligent consumers are ready, but businesses have to get smarter to survive and thrive toward a better future.

Sales Organization Evolution

The new sales organizations will have to adapt to an ever-evolving technological ecosystem that processes most companies’ logistics. The growth of core technologies, the virtualizing of one industry after another, and the automatization by software have led to a new fast-changing world, where historically insulated, stable sectors are at risk of financial insolvency. Cloud computing and app store ecosystems are revamping industries, and consumer behaviors are getting less predictable and much more challenging.

Lean and Mean

New entrants are overtaking industries dominating the space in the past with smart software solutions and new ideas due to the high entry barrier. Significant growth has been seen in the industries in computing, biotech, 3D printing, and fine-tech being transformed by smaller emerging players that were historically viewed as disruptors doomed to fail.

Sales Force-Displacement

The internet has taken an active part in facilitating the creation of virtual businesses that generate sell products and services without a sales force requirement. Today an app or a website that has useful content can generate traffic and sales.