Jay McBain, CEO“Nearly 75 percent of all sales in the world is indirect sales, it is a big market but under-served in terms of technology,” begins Jay McBain, CEO of ChannelEyes. Stressing on the need to leverage latest technology trends, ChannelEyes utilizes the burgeoning trends of mobility and big data, infused in Salesforce Marketing cloud to deliver its platform that focuses on dealers and resellers of an organization. “We work with Salesforce at a senior level around the channel cloud,” he adds. It caters to the industry needs by enabling sales representatives to collaborate with their channel partners for driving success and sales.
With the help of OPTYX—a predictive analytics engine provided by the firm, clients can monitor their partners, people and opportunities, providing real-time sales intelligence to drive more indirect channel revenue. By analyzing millions of data points, both internally and externally via big data, Channel Eyes calculates the impact that channels have on winning opportunities and the lift that partner interactions have. By installing OPTYX from the Salesforce Appex change, channel sales people will be alerted with the things they need to know, and prioritize when they need to action. Talking to the right partners at the right time about the right things can generate up to 10 percent lift in channel revenue as demonstrated by the firm. As OPTYX employs data science to predict results, the data received from the clients helps in manipulating the algorithms, which goes through simulation processes providing more accuracy to the forecast. “It drives confidence scores in forecasting helping clients to analyze sales situation better,” says McBain.
Paraphrasing McBain, clients utilizing the predictive analytics platform can connect the channel managers to their territory of sales by providing meaningful insights based on data science. “Our solution provides ten percent gain in channel revenue for our clients,” beams McBain.
The firm, with its significant investment on algorithms of indirect sales has helped to provide with better solutions to enhance sales of the clients. ChannelEyes’ predictive analytics perspective involves many stages before the product finds its way into the hands of the customers.
OPTYX is the first predictive analytics software platform that is 100 percent dedicated to indirect channel sales. It works hand-in-hand with Salesforce and provides real-time sales intelligence on partners and alliances
These stages of analysis serve as the key differentiator for the firm as it helps to understand the impact of the various levels and tiers of sales. The analytics perspective also helps the front-line sales representatives to utilize this intelligence and modules to work effectively. By watching every opportunity in real-time, the firm generates a rolling confidence score based on 65 unique attributes. These scores are constantly changing drive timely actions needed to ensure success. Out of the box, OPTYX delivers over 90 percent accuracy on forecasting at an overall channel level – and this improves over time via machine learning.
The firms other part of the platform–ChannelCandy–is a mobile-first branded app that clients deploy to their partners directly. It drives better communication and collaboration with partners, as well as tools such as deal registration, training, and gamification. “Our ChannelCandy platform helps partners stay updated with programs, products and sales tools that drives additional revenue,” says McBain.
To sail through market competition, ChannelEyes plans to expand their solutions in indirect sales across domains—automotive, finance, insurance, and healthcare. “Our development strategy lies in artificial intelligence and machine learning which aims to reduce the cost and increase the amount of throughput revenue clients can generate through indirect sales channels,” concludes McBain.