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LucidEra on Wednesday introduced in its on-demand forecast-to-billing application features that provide quick access to sales opportunities in the pipeline and customer acquisition trends and win rates. In addition, the new analytical tools called LucidSnapshots also enable executives to compare and calculate changes to sales and financial data over time.
The idea behind the new tools is to give executives and managers a picture of past and present sales performance through LucidEra's software as a service, which the company offers as an alternative to business intelligence software deployed within an organization.
LucidSnapshots collects sales opportunity data at configurable time periods, whether daily, weekly or monthly, and presents dynamic reports that sales managers can interactively manipulate to answer business questions. The online tools allow managers to track all aspects of a sales opportunity, from the initial customer meeting to sending the final invoice. As a result, executive can get substantial insight to sales performance, supply-chain efficiency, and customer trends. Sales managers can also use LucidSnapshots to get a comprehensive view of the pipeline and its evolution over time.
"The sales operations manager at a manufacturing company, for example, should be able to take a snapshot of the prior week's sales forecasts and immediately compare them with current forecasts," Ken Rudin, chief executive and co-founder of LucidEra, said in a statement.
Other features of LucidSnapshots include the ability to segment sales opportunities and orders into new versus repeat customers by time period. Each of these data sets are then analyzed to deliver metrics such as relative win rates.
The new tools can also detail what portion of business is from new versus old customers, and whether repeat customers bought the same versus a new product. In addition, managers can make comparisons between time periods and calculate changes between current and fixed reference points, such as year-to-date, quarter-to-date, or month-to-date.
LucidSnapshots is available with the Summer 2007 release of LucidEra Forecast-to-Billing, which is the company's first on-demand reporting and analysis application.