Author: Jack Corrao iii

Estimated < 1 min. read

Companies spend 20% of their annual revenue on trade spend (neal) and 72% of those companies located in the US end up losing money (mckinsey). Why? Products are going out of stock, poor setups of promotional materials, or inaccurate price labeling are just a few of the contributing reasons for these lackluster performances. There has been a drastic change in consumer behavior over the past few years and tools such as Microsoft Excel and homegrown ERPs aren’t able to help companies keep up anymore (23% of companies today manage trade promotions on Excel). Newer technology has made it easier to avoid these common issues, and the industry has been turning towards a massive digital transformation as the resolution. Software such as Salesforce Trade Promotion Management (TPM) helps companies optimize trade spending, invest in the right activations, and spend more time selling. The industry is turning towards a tool such as Salesforce TPM to ultimately maximize the ROI of their promotions.

Our Salesforce TPM Starter Package is a cost-effective package that helps companies get up and running within 3-4 months. Key Account Managers will be able to utilize the trade calendar, customer & product hierarchies, promotion & tactics templates, promotion and account P&L, and reports & dashboards. Please download our Salesforce TPM Starter Package data sheet to see all of the details and pricing.

Learn more about our Salesforce TPM for Consumer Goods Cloud services on our website.

Estimated 5 min. read

Defining Trade Promotion Management and its Immediate Necessity

Trade promotion is a marketing technique aimed at increasing sales of a product by making it more attractive to potential customers. A great example is the ‘Buy One Get One Free’ promotion that we see everywhere in stores. There are multiple departments involved, with many cumbersome processes involved. In today’s fast-paced world, companies are turning to new technology to support these processes. Trade Promotion Management (TPM) is the process of streamlining promotions planning, breaking down silos, and creating a single source of truth that helps maximize trade spend effectiveness. It provides in-depth insight into the volume and profitability of trade promotions to help manufacturers improve their business, and aids in gathering real-time data to produce actionable information.

Even before COVID-19, changes in consumer behavior were driving companies to shift to a digital strategy. The pandemic made it clear that cross-functional collaboration among supply chains, finance, and marketing needs to be more structured than ever before. With companies putting out 20% of annual revenue towards promotions on average (McKinsey), TPM software reduces the possibility of leaving money on the table or overspending. Without TPM software, companies in the US are losing 72% of revenue with promotions, and about 55% don’t even break even (Repsly). Most companies don’t realize these large losses due to not having analytics to easily show this data; one of the main challenges facing TPM. Other harmful challenges include having outdated & unscalable technology and time-consuming manual processes that have become archaic in today’s world.

Outdated and Unscalable Technology

Many companies use ERPs combined with Microsoft Excel to run most of their trade promotions. While effective to start, these systems quickly become outdated. They do not have the required intelligence and planning built within them to manage a company’s promotions. For example, the manually built experiences never capture the entire process and are difficult to scale along with the constantly-growing company. Homegrown technologies aren’t usually the most user-friendly either. With the primary focus on “just making it work”, UI always gets left behind. If users aren’t finding the technology effective to use, user adoption always suffers. Internally built systems also consistently “break” and are costly to fix, requiring constant updates that delay everyday users. If the main architect leaves the company, it’s extremely difficult to pick up where they left off. Hiring a new architect will be costly as they need to review the entire structure, and typically need to make their own updates in order to take control of it.

A TPM software, such as Salesforce TPM, provides world-class technology to help companies control every technological aspect of their trade promotion. Using industry best practices, Salesforce TPM takes the processes and technologies that have helped Retail and Consumer Goods companies plan, execute, and track promotions and provides them to all customers. The system is scalable, sound, and constantly updated with new features to help its customers. The extremely user-friendly TPM system also makes it easier than ever for anyone involved to use the system. Available training is also available for users to understand their system and even suggest new ideas to their Admins to further enhance the customizable solution.

Time-Consuming Archaic & Manual Processes

An Account Manager’s time is stretched thin between planning, developing, and implementing promotions. These labor-intensive tasks can be extremely time-consuming without TPM software. They also need to coordinate with field reps, drive store initiatives to ensure stock is fulfilled, and analyze if they drove positive ROI. Having to complete all these tasks manually results in high overhead and potential data entry errors, causing headaches, requiring steps to be redone, ultimately slowing processes down, and costing the company money. That’s only the Account Manager. Rinse and repeat for District/Territory Managers, Sales Reps, Merchandisers, and the rest of the team, and the entire process can be extremely costly. Manually copying and pasting promotions without adjustments no longer work in today’s world either. Managers need to make adjustments before and during promotions, and doing so manually is cumbersome.

TPM software completely streamlines the entire trade promotion process, while allowing real-time visibility into the entire process. No more waiting for specific excel sheets from one person. Managers can quickly drill down into the Account or Store level, see promotion performance, and make adjustments on the fly within minutes in order to boost sales. Email notifications are automatically sent out based on these updates, ensuring everyone is kept in the loop without any surprises. Promotions can easily be cloned via drag and drop, where Reps can make adjustments that take effect immediately. Trade budgets and accrued liabilities data are in real-time so Account Managers can verify available funding to support trade plans and match claims with payment once the promotion has finished. TPM software allows teams to spend more time selling, rather than getting stuck in the manual processes. These are just a few ways TPM software is accelerating the industry.

No Easy Access to Analytics

On average, 60% of promotions go unevaluated due to the lack of analytical tools and staffing (Pointstitue). Without TPM software, companies are left in the dark when it comes to easily reporting on the success of their promotions. It can take hours to pull together metrics across multiple systems, and there’s always the chance of incorrect numbers being shown. With 72% of US companies actually losing revenue on promotions, managers need to know which ones were unsuccessful so they don’t repeat them year after year (McKinsey). Success metrics including POS growth, primary vs secondary vs tertiary sales, consumer units, incremental and spend ratios, and ultimately ROI need to be readily available in today’s fast-paced world. Manually gathering these metrics across archaic systems is no longer an option. Managers need this information in real-time, with the ability for others to also have access to the data.

Companies can unlock larger ROI from their trade spend investment if they can spot and scale their most profitable programs immediately. TPM software provides easy-to-use analytics that displays all key promotional stats in real time. Salesforce TPM even allows for the ability to easily create custom reports and dashboards to track custom KPIs from company to company. Dashboards can zoom out to display all KPIs across all promotions run that year with the ability to drill down into states, regions, cities, and specific stores. Filters can display KPIs on how specific promotions performed nationwide as well. Analytics allows teams to replicate the highest-performing promotions, and eliminate promotions that fail to break even.

Trade Promotion Management Exceeds the Standard

Without TPM software to help plan, manage, and track promotions, each one is at risk of causing overspending, stock surplus, and negatively impacting the customer’s perception of your company. The RCG industry has undergone massive changes in the last few years, causing new technology to emerge that streamline processes across the company and boosts ROI. Software like Salesforce TPM for Consumer Goods Cloud provides the ability to maximize employee productivity and maximize ROI on trade promotions.

Estimated 2 min. read

To our St. Augustine High School Class of 2020 interns:

Nobody could have predicted how this year would go. In January, we were discussing the future and teaching work ethics and helping you all gain a little knowledge of the workplace. You all accepted the challenges we gave you and tackled them head-on. Not once did any of you turn down a job assignment, even though you didn’t have the experience.

You asked questions, gained your knowledge, and proceeded to succeed in your tasks. Now, you face different challenges going forward. Corrao Group has the utmost faith that you will all take these challenges presented to you, examine them, and come to a determination on how best to succeed given those obstacles.

We congratulate Griffin Miller, TJ Roeder, Jonathan Bonanno, and Noah Shroeder as you enter the next phase in your lives. Remember good work ethics are important in school as well. Congratulations to the Class of 2020! We expect to see great things from you Saintsmen!

Griffin Miller – Texas Christian University (TCU)

 

 

 

 

 

 

 

 

Jonathan Bonanno – Point Loma Nazarene University

 

 

 

 

 

 

TJ Roeder – Emory University

 

 

 

 

 

 

Noah Schroeder – University of Dallas

Estimated 4 min. read

Today we’re highlighting the first guest of our Work From Home spotlight series: Paul Mobley. Paul leads sales and legal operations at Ephesoft, a tech company in Irvine, CA. “I have always worked where I’ve needed to work,” he mentioned before explaining that he’s worked at multiple WeWork locations, traditional corporate offices, conference rooms, hotel rooms, and from home. A flexible attitude is what makes working from home, and ultimately anywhere, not a large hassle for Paul.

Staying Connected With The Team

Paul says he’s been more communicative than ever before, utilizing many different tools such as Google Hangouts, Salesforce Chatter, and Zoom to keep in touch. His team used this technology before COVID-19, so there was no additional learning curve. He uses whichever communication method is preferable for the situation and the other people’s needs. Instant Messaging may be used for something needed immediately, where Zoom meetings are held for higher priority and more complicated topics. Texts and phone calls are not out of the question, they’re still great ways to have conversations and meetings “on the go” and get some fresh air.

“The internet has changed the distance barrier we used to have,” stated Paul. He explains that in the past, most people thought that we’d have more interaction with someone in the same office compared to someone working remotely. Yet, it could easily be the case where we actually interact more with co-workers that are remote. It comes down to who you report to, who is on your team, and/or who reports to you. Regardless of where employees are located, today’s technology allows us to connect within seconds with the ability to screen share and turn on our videos. It doesn’t matter if that person is in the same building or on the other side of the world.

Spending Extra Free Time

Many people who are new to working from home have some extra time on their hands now that they don’t commute to and from the office. Some use the specific time they usually spend in the morning driving to work on other activities such as walking, meditating, reading, listening to the news, sleeping in, the list goes on. Paul doesn’t think of it in a way that it gives him extra time, but that it allows him to allocate his time throughout the day more effectively. He sometimes uses that time early in the morning to get a head start on the day and block out time later in the day for a break to refuel and refresh.

“Taking small risks is like trying new foods. As our palettes change, it gives us more opportunities to try new things.”

This “extra time” also allows us the freedom to try something new. It’s time for employees to step up and take on more responsibility within the company if they have the time. It could be learning more in-depth about other departments’ processes within the company or more about current customers’ needs to see how you can further help them solve business challenges. This time can also be used to recover from a stressful day. Paul also enjoys regular bike rides to clear his head during busy days. Finding your head-clearing activity can help reset when it feels like you’ve been working for too long.

Being Authentic and Developing Closer Relationships With Your Team

Working from home gives employees the ability to show their personality today more than ever before. At the office, we are allowed to have pictures, fun mugs, and other items on our desk, but it’s never as personal as what’s at home. Paul recommends you go into meetings with the mindset of it being held on your terms versus the company’s because it’s in your personal space. You get to choose how public or private you want to be when you attend a meeting from your own home. When meetings are held in the office, it’s standard to wear nicer clothes, have no distractions, etc. At home, the expectations are different and it allows us to show our authentic selves through the clothing we wear, our backgrounds, and our overall presentation. We are only limited by our creativity. For example, sometimes he feels cooped up inside and needs a change of pace. Using wifi on his computer or using the data connection on his phone, Paul has the freedom to roam. Most people on these calls or videos understand this because they may be experiencing similar feelings of being stuck!

“Have fun – you don’t have to work from home, you get to work from home,” said Paul towards the end of our discussion. He mentioned people may not want to lose what they’ve gained while working from home. This could be enjoying a new morning walk routine so much that upon returning to the office, they wake up 20 minutes earlier than usual to walk before heading into the office. It could also include something more substantial, such as a 2-hour mid-day break where employees make up that time later in the evening at home. He doesn’t view working from home as uncomfortable because, “If you live there every day, it shouldn’t be uncomfortable. It’s only uncomfortable because we haven’t done it before.”

ABOUT EPHESOFT

Ephesoft is the leader in Context-Driven Productivity solutions, helping organizations maximize productivity and fuel their journey towards the autonomous enterprise through contextual content acquisition, process enrichment, and amplifying the value of enterprise data. Customers use this innovative technology to automate any document-based business processes or tasks, improving accuracy, increasing efficiency, and reducing costs. Ephesoft’s focus is to improve enterprise productivity, which results in better customer experiences, more fulfilling careers, and higher business profitability.

Sign up below to hear more from, and even be a part of our work from home series.

Estimated 3 min. read

Employees may come back to a very different office from when they were last there. There could be motion-activated doors and voice-activated elevators, fewer desks, or desks that look entirely different. Working from home could be the new norm with organizations being forced to find ways to successfully do so during Covid-19. While a number of companies will return to the office just as they were, many companies are going to begin working remotely because they can. To successfully run a company from home requires the right management, employees, procedures, and technology. The most likely future impacts of companies working from home include different looking office spaces and new germ/virus protection measures.

New Office Designs

No one will feel comfortable on their first day back in the office if they’re sitting within three feet of their coworkers all day. A few sneezes and coughs later from coworkers and employees will spend more time worrying about not getting sick than getting work done. We are going to see a complete remodeling of how office spaces are laid out going forward. Starting at the building’s entry point, automated doors could become everyday normality. Grocery stores have automated doors and we only visit those a couple of times per week, so why are we touching the building’s entry handle multiple times a day?

Today, open office floor plans are extremely popular. It allows employees to interact easier in a more collaborative effort than in the past. Prior to this were taller cubicles where employees were separated from each other, but could still stand up to speak to their neighbor next door. The cubicles provided a barrier that many people today might want in order to return to work. While these cubicles may take up more space than the current desks, not as many desks may be needed with some of the company working from home. Although, open floor plans will not completely die off. Other organizations, such as Cushman and Wakefield, are keeping open floor plans and adapting the “6 Feet Office” approach to make employees feel safer.

Antibacterial, Germ and Virus Protection

Companies will soon find that not as much space is needed due to some employees working from home, so not as many cubicles are required either. Some may match a shared space office building where their employees do not have a specific desk they sit in each day. An increase in shared desks requires additional safety measures in order for employees to use a desk that could have been used by a sick employee the day prior. Businesses will have to turn to germ and virus protection solutions to provide a clean workspace. Taking things a step further, there are antibacterial bundled solutions made specifically for specific industries – small businesses, doctor/dental, restaurants, education, etc. They can even come into your organization, perform an audit to see where and what employees interact with to then provide solutions that fit your custom environment.

These germ-killing solutions will be critical even beyond desks and into break rooms, conference rooms, individual offices, and other shared spaces. When employees first return to the office, conference rooms may be off-limits, and break rooms may only be visited to grab or store something in the fridge quickly. Companies can make their employees feel more comfortable with door handles, UV lights, and other solutions that reduce 99.9% of germs on surfaces.

What Makes Your Employees More Comfortable?

No matter what companies do to make their employees feel safer upon first returning to work, they’re still going to be uneasy. Even if they were isolated in a recently-disinfected room all day, there’s nothing that will rid them of all their uneasiness. Companies must do whatever it takes to make their employees feel comfortable returning to work. Since each group is different, we encourage companies to ask their own employees what would make them feel more comfortable. Whether it’s office furniture, cleaning products, or new procedures, the requests could range from A-Z. Coastal Health USA offers services to come onsite to your facility to recommend antimicrobial solutions to help reduce germs and viruses at your company.

Estimated 3 min. read

Work from home (WFH) employees are not the same worker as they are when they’re in the office. They have different surroundings, applications, and family or friends around them. With an entirely new setup, some may have never worked from home before; they might need appropriate furniture and technology requirements, including better WiFi. Other employees may already be working remotely and have their own setup. It is recommended that this group shares their experiences when working from home with the rest of the company. We’ll cover the most notable differences between how an employee works at the office compared to how they work from home.

Environmental Distractions

Depending on one’s office and department, their office setting could either be louder or quieter than their home setting. There are co-workers on calls, typing and printer noises, doors opening and closing, etc. At home, there could be children playing or being homeschooled, landscaping outside, or friends/family in the other room watching TV. In smaller settings, loud neighbors working from their homes could cause a daily distraction. Noise-canceling headphones may be better for the home office because it’s more appropriate to drown out outside noises than valuable insights from their coworkers.

Systems and Technology

When employees are given all the technology and resources their job requires, they are set up for success. They’re able to login to secure systems, print or scan anything they need, and have access to a great internet connection. At home, they might not be able to recreate the same setup. Many employees may be working on kitchen or foldout tables in chairs that are not designed to be used all day. If they’re lucky, they are able to bring home an extra monitor from work. While working from home, additional virtual meetings are required for companies to check in more frequently as they normally would in the office. This requires a robust internet connection and if two people are now working from home, the current WiFi plan may need to be upgraded to the next level. If children are conducting school online, it will only put even more stress on the WiFi. Upgraded WiFi is one thing companies have been helping their employees with.

With CRM technologies like Salesforce, many companies can successfully work from home without skipping a beat. Businesses of all industries and sizes can optimize their entire company with Salesforce while empowering employees to collaborate while working from home. All leads and contacts, deals, service tickets, contracts and more are stored in real-time backed by automated processes to make sure steps are followed and nothing falls through the cracks. Users can log in both at the office as well as at home, and be productive no matter which setting.

How to Help Your Employees Work From Home

• Research if your company can create and fund a requirements checklist for your employees to work from home. See if your employees require items like monitors, chairs, and desks to enhance their productivity.
• Onboard the company to an instant messaging program. Programs like Microsoft Teams, Skype, and Zoom are the most popular applications to keep your company connected.
• Provide access to applications that your business processes are tied into. If it’s their first time working from home, make sure the IT department has enabled any remote access to applications. Ensure all security measures are followed and that any confident data is stored on a locked and secure device.

 

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Estimated 4 min. read

With a great number of people asked to stay inside during this time, one can run out of things to do fast. There is only so much television we can watch, books to read, and other things before something new is needed. We’ve put together a list of things to do during the week that can help out in many different areas. The list includes activities that are both fun and also tasks that should make you feel more accomplished while staying inside.

Review Budgets to Save Money

Review your monthly subscriptions for necessity
– Business Subscriptions, Music, Clothes, Food – are these necessary for the next couple of months?

Update Family Budgets
– How does eating out less and cooking more affect your situation?
– Contact your Gym to make sure you’re not paying for this month.
– What are your cost savings for gas as well as time not in traffic?
– Can you adjust your car insurance, based in miles, for the next 3 months?

Create a simple spreadsheet with 2 columns, “WFO” and “WFH”, and compare the costs to see how much you’re saving and where you can save more.

Productive Activities Around the House

Clean up the garage
– It’s time, don’t hold it off any longer. Keep the door open as well to get some fresh air.
– If you find things that you don’t need anymore, donate it to help people in need right now.

Change the oil and fluids in your car(s)
– It might be a good time for a self-detail as well.
– If you have children make this fun and educational for them!

Fix things around the house
– Loose screws, squeaky doors/cabinets; now is a good time to fix those.
– Lightbulbs and batteries for alarms.
– Have you always wanted to paint that room? It’s time to schedule this on your calendar if so.

Cook an extraordinary dinner!
– Take out that day-long recipe you’ve always wanted to cook and get to it. Make sure that if someone else is enjoying your dish, they do the dishes – it’s the rules.
– Kick off a Zoom meeting and have a virtual potluck with your friends and family.

Clean more
– Cleaning more frequently makes it less of a task each time you do it. Having a clean space can also boost productivity and happiness.
– This is a great task to keep the kids busy. Make it a fun project and reward them for completing their jobs.

Catch up on entertainment
– Pull up the list of shows and movies your friends have been telling you to watch. Call your friends afterward to discuss it and catch up. If you’re fortunate to have kids, show them one of your favorite movies from when you were their age.

Go through the family photos
– Relive all the great times over the years through your photos. Send pictures to anyone else in the older photos to connect with them!

Get ready for summer by cleaning the backyard and planting the garden
– This is a great exercise to do with family and could be great for the kids to learn how to pull weeds! A win-win situation.

Game Nights, Trip-Planning and More

Family game nights
– Break out all of the board games and make it a fun night. Maybe even tally the wins per player over the next few weeks and see who is the ultimate game night champion!

Learn an instrument
– Have an old instrument in the garage you never finished learning? Dust it off and look at some free online videos for help. Maybe someone else in the family would like to learn with you.

Plan a trip
– Plan for a future trip. Do all the research about places to stay, visit, and dine at. Plan for a few trips and figure out which ones to take first.
Stay connected with your extended family and friends.
– If they are not tech-savvy, show them how to use tools like Skype and Zoom. You could play games such as chess and others through video chat.
– Schedule frequent calls to stay connected and foster a positive mental outlook.

These are some activities you can do both during the week as well as the weekend. This is only a small list – there are thousands of other activities you can do. If you’d like to stay up to date on other things to do during this time, please fill out the form below and we’ll send you an email each time we post content like this. Always wash your hands multiple times per day! If your hands feel dryer than usual, it’s because you are washing them more frequently than usual – find some lotion to help keep your hands from getting too dry. Set reminders to get fresh air and go for walks.