Typically, having loads of data is overwhelming for a decision-maker, unless it can be consolidated and presented in a way that is useful and makes a point. One of the communication lessons from the Challenger disaster in 1986 is the way unclear information provided to NASA, affected the decision to go ahead with the launch of the rocket. The horror of the catastrophe overshadows the story of how it happened. Academics and journalists tend to focus on the political or economic bias of the decision-makers as the root cause. Not on the data presentation, and how the critical factor of temperature and how it affects O-ring performance, was not made clear to the rocket scientists.Read more
Most people feel pressure. The heart races, the body heats up, and you lose your train of thought. You feel pressure when you’re put on the spot in a meeting or playing the final hole in golf - when you are one stroke ahead. In both situations, we often panic and can’t think straight. However, we can harness these feelings effectively if we follow the Red-Blue model created by Dr Ceri Evans. This simple yet powerful method was used by the All-Blacks to win the 2011 World Cup. On the eve of the 2019 Rugby World Cup, I hope we can all stand up to the pressures that come our way.Read more
With ever increasing volumes of data, business intelligence (BI) software is becoming essential to help maximise sales opportunities. BI software helps managers report on their sales processes more accurately and gain insight into their customer's buying behaviours, to adapt better to the needs of the market. BI reports are of particular importance as they give decision makers actionable insights that will directly influence the business' strategic direction.Read more
Every company must have a strategy to price their goods. Your pricing strategy is a fundamental component to your marketing process as pricing can increase sales or send customers to your competitors. Because a variety of factors such as product life cycle, competition, and customer perception can affect pricing decisions, it’s important to consider these when determining the best pricing strategy for your company.
Phocas received a Human Synergistics award for achieving a ‘constructive’ culture during three years of fast change. Phocas staff are happier, more capable and more collaborative in 2019 from an already strong starting position in 2016. A motivated team also produces great results, so another positive outcome was 55% revenue growth across the company.Read more
Tracking profit margins is a full-time activity in distribution. Out-of-date reporting systems with little to no visibility beyond sales data can result in your business spending more money to sell products than they cost. Even if revenues are up, unless monitored closely, margins within individual sales can erode, leading to strategies that may not be in the best interest of your business.Read more
Phocas data analytics is exhibiting at the UBT Trade Expo 2019 in Warwick this week. This three-day event is for UK business leaders, and you can meet the Phocas team at stand #10. We are keen to share with you how other UBT members are using our solution to find insights from their data and create better outcomes for customers and stronger margins for their products.Read more
The ability to determine how much outstanding money is owed to your company is vital to the ongoing management and sometimes survival of a business . As such, it’s important that relationship managers have the ability to examine which accounts are overdue or have a credit freeze on them so they can work with finance and customers to rectify the situation.Read more