Technique that uses historical data as inputs to make informed estimates
that are predictive in determining the direction of future trends.
Which of your customers are at higher risk of leaving you?
What accounts are trending up in sales?
PlanProphet's Prophet Alerts processes hundreds of calculation everyday to answer these and many more future-dependent questions. It isn't magic, it's logic. PlanProphet continuously learns and compares past and recent client behaviors, and alerts your staff of any findings worth knowing. The following is a Prophet Alert example:
How do Prophet Alerts work?
Which business areas do they analyze?
Different Levels of Severity
We understand that not every Prophet Alert will affect your business the same way. For example, A top 10 customer's decrease in activity affects your bottomline much more than a decrease in a customer that doesn't rank as high. For this reason, your Prophet Alerts will include a severity level, to visually indicate the importance of each alert.
Sales Indicators Forecasting
Prophet Alert routinely works behind the scenes to learn about your customers’ past ordering habits and behaviors. Once a benchmark is set of what’s considered “normal” for each customer, then any significant positive or negative change will prompt a Prophet Alert.
The following are some of the sales indicators being used to forecast future behavior: sales volume, average order size, and frequency of orders.
Promising Increase in Activity
Not every alert is bad news. Timely spotting promising increase in customers' activity is equally as important. It gives your team a chance to send one extra e-mail, make one additional call, or pay them a visit to quickly capitalize of those customers' growth. These alerts are also labeled in different levels of increased activity.
Unusual Resources Used Alerts
Maximizing staff efficiency and resources is key in maintaining a profitable organization. Plan Prophet continuously looks for out-of-the-norm resources used on orders or estimates to give you an opportunity to perform corrective actions. For example, you may wish to receive alerts when a customer's "Quotes Won Ratio" is absurdly low, or when a Job Proof Approval has required unusually high number of revisions.
Accounts Receivables Alerts
Cashflow management starts with ensuring your customers pay as agreed. Timely identifying clients nearing critical default levels goes a long way in helping your team take immediate actions.
The very day an account defaults on payment terms, Plan Prophet will begin providing alerts. These alerts will gradually increase in Severity Levels, depending on how late a customer is.