Welcome!

News Feed Item

80 Percent of Organizations Spend at Least $1,000 Annually Per Sales Rep on Technology Tools in the Quest to Make Sales More Efficient

Equipping a modern sales team is complex and expensive, according to a new research study from CITE Research and SugarCRM

CUPERTINO, CA -- (Marketwired) -- 08/08/17 -- "You have to spend money to make money" is one of the oldest clichés in business. Enterprises are following that advice in how they build their sales teams, according to a recent survey of 400 sales executives.

A new "SalesTech Report" from CITE Research, on behalf of SugarCRM, found that 80 percent of companies spend at least $1,000 on technology annually per sales representative to equip them with the right tools to do their jobs effectively. Furthermore, nearly one-half (49 percent) of the respondents said they spend at least $2,000 per sales employee.

While building an effective sales team requires a great deal of investment in both hardware and software, the good news is that respondents said technology is helping their sales team be more effective. These days, sales professionals use a wide array of tools. A CRM system is the most frequently used and the most valuable tool to the sales team. A majority of respondents rated 11 common tools, everything from smartphones to CRM to data enrichment services as "valuable" or "extremely valuable."

"The results of the CITE Research survey match Nucleus Research's own findings. The research indicates a modernization of sales culture where using tools to gather, analyze and share data is much more important than wining and dining potential clients," said Rebecca Wetteman, analyst at Nucleus Research. "What I find interesting about the report from CITE and SugarCRM is that organizations are no doubt willing to spend money, but many are in the experimental phase. Other than CRM, organizations are dabbling in a variety of other tools in a trial-and-error phase to determine what is absolutely critical for sales people to be more effective."

The survey of 400 sales executives in the United States and United Kingdom was conducted to define what the technology stack for a modern sales team looks like. Moreover, the survey tried to explore what tools are most important to optimizing the customer experience. Survey highlights include:

  • 80 percent of companies spend at least $1,000 annually per employee on sales technology tools, two-thirds spend at least $1,500 and nearly one-half spend $2,000.

  • Deploying all these tools does not come without anxiety. More than two-thirds (69 percent) of businesses are concerned about the need for training staff, while 63 percent are worried about keeping pace with innovation and keeping systems up to date.

  • CRM remains the most frequently deployed tool for sales teams, with 70 percent of organizations saying they use CRM. However, organizations are also finding value in other hardware and software. In addition to CRM, laptops, smartphones, tablets, lead development applications, collaboration and productivity tools, digital transactions software, online meeting schedules, web meeting platforms, internal messaging tools and data enrichment services are all "valuable" or "extremely valuable."

  • Other than cost, the top concerns about deploying new technology are security (36 percent), product complexity (34 percent), employees' resistance to change (30 percent), and a lack of skills in using the tools (20 percent).

"In today's digital age, technology is a crucial asset that increases the effectiveness and productivity of sales teams," said Larry Augustin, CEO, SugarCRM. "However, these survey results indicate the challenges organizations face when it comes to innovating and evolving the way their sales teams work. It's clear there is still work to be done when it comes to overcoming obstacles and reframing how we think about technology in the workplace."

For the complete survey report, please visit:
https://files.sugarcrm.com/resources/analyst-reports/2017-SalesTech-Survey-Report.pdf

Methodology
CITE Research, on behalf of SugarCRM, conducted a survey among 400 business professionals, with 200 respondents in the United States and 200 respondents in the United Kingdom. Respondents were screened to be employed full time, work in sales or business development, and have a job title of director-level or above. All respondents worked at companies with 100 or more employees.

About SugarCRM
SugarCRM enables businesses to create extraordinary customer relationships with the most empowering, adaptable and affordable customer relationship management (CRM) solution on the market. Unlike traditional CRM solutions that focus primarily on management and reporting, Sugar empowers the individual, coordinating the actions of customer-facing employees and equipping them with the right information at the right time to transform the customer experience. Based in Silicon Valley, SugarCRM is backed by Goldman Sachs, Draper Fisher Jurvetson, NEA and Walden International. More than 2 million individuals in over 120 countries rely on SugarCRM. To learn more visit http://www.sugarcrm.com or follow @SugarCRM.

NOTE: SugarCRM and the SugarCRM logo are registered trademarks of SugarCRM Inc. Third-party trademarks mentioned are the property of their respective owners.

Media Contact:
Andrew Staples
SugarCRM
(408) 913-2395
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Moroccanoil®, the global leader in oil-infused beauty, is thrilled to announce the NEW Moroccanoil Color Depositing Masks, a collection of dual-benefit hair masks that deposit pure pigments while providing the treatment benefits of a deep conditioning mask. The collection consists of seven curated shades for commitment-free, beautifully-colored hair that looks and feels healthy.
The textured-hair category is inarguably the hottest in the haircare space today. This has been driven by the proliferation of founder brands started by curly and coily consumers and savvy consumers who increasingly want products specifically for their texture type. This trend is underscored by the latest insights from NaturallyCurly's 2018 TextureTrends report, released today. According to the 2018 TextureTrends Report, more than 80 percent of women with curly and coily hair say they purcha...
The textured-hair category is inarguably the hottest in the haircare space today. This has been driven by the proliferation of founder brands started by curly and coily consumers and savvy consumers who increasingly want products specifically for their texture type. This trend is underscored by the latest insights from NaturallyCurly's 2018 TextureTrends report, released today. According to the 2018 TextureTrends Report, more than 80 percent of women with curly and coily hair say they purcha...
We all love the many benefits of natural plant oils, used as a deap treatment before shampooing, at home or at the beach, but is there an all-in-one solution for everyday intensive nutrition and modern styling?I am passionate about the benefits of natural extracts with tried-and-tested results, which I have used to develop my own brand (lemon for its acid ph, wheat germ for its fortifying action…). I wanted a product which combined caring and styling effects, and which could be used after shampo...
The precious oil is extracted from the seeds of prickly pear cactus plant. After taking out the seeds from the fruits, they are adequately dried and then cold pressed to obtain the oil. Indeed, the prickly seed oil is quite expensive. Well, that is understandable when you consider the fact that the seeds are really tiny and each seed contain only about 5% of oil in it at most, plus the seeds are usually handpicked from the fruits. This means it will take tons of these seeds to produce just one b...
Steaz, the nation's top-selling organic and fair trade green-tea-based beverage company, announces its 2017 "Mind. Body. Soul." tour, which will bring authentic experiences inspired by the brand's signature Mind. Body. Soul. tagline to life across the country. The tour will inform, educate, inspire and entertain through events, digital activations and partner-curated experiences developed to support the three pillars of complete health and wellness.
The platform combines the strengths of Singtel's extensive, intelligent network capabilities with Microsoft's cloud expertise to create a unique solution that sets new standards for IoT applications," said Mr Diomedes Kastanis, Head of IoT at Singtel. "Our solution provides speed, transparency and flexibility, paving the way for a more pervasive use of IoT to accelerate enterprises' digitalisation efforts. AI-powered intelligent connectivity over Microsoft Azure will be the fastest connected pat...
There are many examples of disruption in consumer space – Uber disrupting the cab industry, Airbnb disrupting the hospitality industry and so on; but have you wondered who is disrupting support and operations? AISERA helps make businesses and customers successful by offering consumer-like user experience for support and operations. We have built the world’s first AI-driven IT / HR / Cloud / Customer Support and Operations solution.
ScaleMP is presenting at CloudEXPO 2019, held June 24-26 in Santa Clara, and we’d love to see you there. At the conference, we’ll demonstrate how ScaleMP is solving one of the most vexing challenges for cloud — memory cost and limit of scale — and how our innovative vSMP MemoryONE solution provides affordable larger server memory for the private and public cloud. Please visit us at Booth No. 519 to connect with our experts and learn more about vSMP MemoryONE and how it is already serving some of...
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
Codete accelerates their clients growth through technological expertise and experience. Codite team works with organizations to meet the challenges that digitalization presents. Their clients include digital start-ups as well as established enterprises in the IT industry. To stay competitive in a highly innovative IT industry, strong R&D departments and bold spin-off initiatives is a must. Codete Data Science and Software Architects teams help corporate clients to stay up to date with the mod...
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility. As they do so, IT professionals are also embr...
Platform9, the leader in SaaS-managed hybrid cloud, has announced it will present five sessions at four upcoming industry conferences in June: BCS in London, DevOpsCon in Berlin, HPE Discover and Cloud Computing Expo 2019.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
When you're operating multiple services in production, building out forensics tools such as monitoring and observability becomes essential. Unfortunately, it is a real challenge balancing priorities between building new features and tools to help pinpoint root causes. Linkerd provides many of the tools you need to tame the chaos of operating microservices in a cloud native world. Because Linkerd is a transparent proxy that runs alongside your application, there are no code changes required. I...