Integration and customization services create greater growth opportunities for SFA vendors, finds Frost & Sullivan
SANTA CLARA, Calif., Jan. 14, 2020 /CNW/ -- Booming customer demand for industry-specific solutions, monetization of professional services, and greater use of machine learning and artificial intelligence to offer detailed selling guidance are expected to drive the $1.83 billion mobilized sales force automation (SFA) market toward $3.68 billion by 2023 at a compound annual growth rate (CARG) of 15.00%. SFA developers will continue to offer new integration capabilities with both internal and external systems, with a special focus on integrating with field service management solutions and providing sales reps with a 360-degree view of customer history and issues.
"The increased technological sophistication and expectations of field sales organizations are driving aggressive product development strategies," said Jeanine Sterling, Industry Director, Information & Communication Technology. "A provider's channel and technology partnerships are critical to success and the market is witnessing an increasing number of systems integrator relationships."
Frost & Sullivan's recent analysis, North American Mobilized Sales Force Automation Market, Forecast to 2023, examines the key emerging trends and challenges faced by SFA solution vendors when trying to convince today's sales organizations to mobilize their SFA systems. It also assesses the major distribution channels in the United States and Canadian markets.
For further information on this analysis, please visit: http://frost.ly/3y6.
"Almost 81% of US businesses that currently use mobile SFA have chosen a prepackaged mobile SFA solution, while the remaining 19% have created a fully customized offering," noted Sterling. "SFA vendors are not only looking to provide day-to-day support such as lead and contact management and quote generation, but also proactive guidance via predictive analytics. They are also responding to market demand by ensuring a high level of integration with clients' customer relationship management (CRM) systems."
For increased growth opportunities, SFA leaders should:
- Identify industries that deploy significant numbers of field sales personnel and then work with these industries to address underserved or unaddressed vertical-specific needs regarding sales automation and support.
- Establish a high-touch post-sale relationship with customers to swiftly identify and act upon the inevitable incremental sales opportunity.
- Evaluate the sales potential of monetizing their customization and integration services.
- Further leverage machine learning and artificial intelligence to enhance guided selling, create digital assistants, and improve social media and news site survey tools.
- Engage wireless carriers as channel partners to penetrate the small- and medium-sized business sector.
North American Mobilized Sales Force Automation Market, Forecast to 2023 is part of Frost & Sullivan's global Mobile & Wireless Communications Growth Partnership Service program.
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SOURCE Frost & Sullivan