5 Step Procedure to Conduct a Sales Audit and Find Actionable Insights

September 10, 2022

12 mins read

sales audit
Table of Contents

What is a sales audit and how to conduct one? Here’s a sales audit checklist to help you find actionable insights👉

We all know that the sales process is a numbers game. However, what transpires if the numbers don’t add up? When you’re staring at your sales pipeline, you can’t help but wonder how many deals you’re missing.

Far too often, sales teams are in the dark about their performance. They have no idea how many deals they missed last month or where they can make changes to improve their close rate.

This lack of visibility can be incredibly frustrating for sales teams. They are constantly looking for ways to improve their performance, but without sales data, it’s tough to know where to start.

Introducing a sales audit that can help solve this problem.

A sales audit is a deep dive into your sales process to identify all areas of improvement. It’s a chance to take a step back and look at the big picture to see where your team can be more effective.

A sales audit is an opportunity to look closely at what’s working and what isn’t and make adjustments accordingly. Think of it as a tune-up for your sales operation. 

Just as you wouldn’t expect your car to run at its best if you never changed the oil, your sales team won’t perform at its peak if you don’t periodically review and optimize your sales process.

A sales audit with a team of experts can provide invaluable insights into the strengths and weaknesses of a team, as well as identify areas for improvement.

Without a sales audit, it can be challenging to identify improvement areas and benchmark a team’s performance against other teams. This comparison is essential to benchmark a team’s progress and meet its targets.

A sales audit with a team of experts can also help assess the effectiveness of sales training and identify areas where further training may be required. This is essential to ensure that a team is equipped with the skills and knowledge necessary to succeed.

A team with sales audit capability is critical to a company’s success. A team without sales audit capability is more likely to miss essential compliance deadlines, fail to identify areas of improvement and experience financial losses.

What is a sales audit?

A sales audit is a simple process of reviewing all the deals lost in a period and identifying why. This information can help you make sales process changes and improve the team’s close rate.

Sales audits are a technique for sales management to assess the effectiveness of their sales processes and strategies. They can be used to identify areas of improvement and help sales teams to optimize their performance.

Sales management audits typically involve analyzing data related to sales activities, such as customer relationships, sales pipeline, and win/loss ratios. This data can be gathered from various sources, including Sales CRM systems, sales reports, and surveys.

The goal of a sales audit is to provide insights that can help sales managers to make improvements and drive more sales. By understanding the strengths and weaknesses of their sales processes, they can make changes that will lead to more sales and increased revenue.

Importance of a sales audit

There’s no question that sales audits are important. They help ensure that a company is accurately tracking and recording its sales, and they can identify areas where improvements need to be made.

But many businesses don’t realize just how important it is to have a team dedicated to sales audits. This team can make a big difference in the quality and accuracy of the audits and, ultimately, the effectiveness of the entire process.

Want to know how a sales audit can impact your team’s productivity? Here is a quick comparison.

With sales audit:

– Your team can identify any discrepancies or errors in the sales data.

– They can make recommendations for improvements to the sales process.

– The team can also provide valuable insights into the effectiveness of sales strategies.

Without sales audit:

– The sales data may be inaccurate, leading to incorrect decision-making.

– The sales process may not be improved, leading to continued inefficiencies.

– There may be no way to measure the effectiveness of sales strategies, leading to wasted time and effort.

As you can see, a sales audit can greatly impact a team’s success. If you’re not already doing one, now is the start.

Types of sales audit

Sales audits are conducted to ensure that an organization’s practices are practical and comply with laws and regulations. There are several types of sales audits:

1. Export sales audits

Export sales audits ensure that an organization’s export sales practices comply with export laws and regulations. These audits typically involve a review of the organization’s export documentation, including sales contracts, invoices, and shipping documents.

2. Internal audits of the sales process

Internal audits of the sales process are conducted to assess the effectiveness of an organization’s sales practices. These audits typically involve reviewing the organization’s sales procedures, including how leads are generated, how sales are negotiated, and how contracts are executed.

3. Audits of customer sales

Audits of customer sales are conducted to assess the accuracy of an organization’s sales data. These audits typically involve reviewing the organization’s customer sales data, including sales invoices and reports.

Steps involved in a sales audit:

A sales audit is a technique for assessing the effectiveness of sales operations. It can evaluate the sales process, identify problems and recommend solutions. Internal or external auditors can conduct sales audits.

The sales audit checklist typically includes the following steps:

1. Define the scope of the audit. 

2. Collect data. 

3. Analyse the data.

4. Prepare a report. 

5. Implement changes.

1. Define the scope of the audit

The first step in conducting a sales audit is to define the scope of the audit. This step is crucial because it will help determine the audit’s focus and what areas will be examined.

The scope of the audit should be based on the objectives of the audit. For example, if the objective of the audit is to improve sales performance, then the scope of the audit should be focused on the sales process.

When identifying the areas you want to audit, what is essential to your sales organisation? What are your goals and objectives? What pain points? Once you have answered these questions, you can start identifying the areas you want to audit.

Next, you must establish criteria for evaluating the areas you want to audit. This will help you focus your audit and ensure you look at the right things. Some things to consider when establishing criteria include:

– How important is the area to your sales organization?

– What are the potential hazards in the area?

– What are the potential rewards associated with the area?

Pro Tips:

  • Ensure you understand the organization’s objectives and how the sales function supports those objectives.
  • Identify the specific areas that you want to focus on. This could include customer churn, sales process effectiveness, or win/loss ratios.
  • Once you have identified the areas of focus, create a list of questions you want to be answered by the audit. This will help to ensure that you are collecting the necessary data.
  • Work with your team to determine who will be responsible for collecting the data. This could involve conducting interviews, reviewing customer records, or analyzing sales data.
  • Set a timeline for the audit. This will ensure that you can complete the audit promptly.
  • By following these tips, you can be sure that your sales audit is thorough and informative.

How does TeleCRM help you in the process?

TeleCRM is the perfect tool for conducting sales audits. TeleCRM can help you in this step by providing you with a complete view of your sales process. Our platform lets you see every process step and identify areas of improvement.

2. Collect data

This is the most critical step in a sales audit as it forms the basis of the entire exercise. The data collected should be comprehensive and cover all aspects of the sales operations.

You can collect data through various methods, such as interviews, focus groups, surveys, and observation. This step involves looking at sales figures, customer feedback, and employee performance. By analyzing this data, you can pinpoint where changes need to be made to improve the sales process.

Pro tips:

There are a few pro tips to keep in mind when collecting data for your sales audit:

  • Make sure you have a clear and concise data collection plan. This will make collecting the data you need more accessible and avoid confusion.
  • Be sure to collect data from all aspects of the sales process, including customer data, sales data, and data on the sales process itself.
  • Keep track of all data collected throughout the audit process. This will make it easier to analyze and identify trends.
  • Make sure to involve all sales team members in the data collection process. This will ensure that everyone is on the same page and that all relevant data is collected.

How does TeleCRM help you in the process?

TeleCRM can help with this step by providing a central data collection and storage platform. TeleCRM also offers automation capabilities to help collect data and ensure that data is consistently updated.

3. Analyse the data

By analyzing the data, you can determine whether there are any bottlenecks in the sales process and make changes to improve efficiency. Additionally, analyzing the data can help you identify any upsell or cross-sell opportunities you may miss.

This step involves taking a closer look at the numbers and seeing what they tell you about your sales process.

One of the first things you’ll want to consider is your close rate. This is the percentage of sales that you closed. If your close rate is low, it could indicate that your sales process needs some improvement.

You’ll also want to look at the average value of each sale. This will give you an idea of how much revenue your sales process generates. If the average sale value is low, you may need to work on upselling or cross-selling skills.

Finally, you’ll want to look at the conversion rate for each stage of your sales process. This will tell you how many prospects are making it to the next step. If your conversion rate is low, it could indicate that your approach is too long or that you cannot qualify prospects effectively.

Pro Tips:

  • Make sure you understand your sales data well before you start. This will help you to identify any patterns or areas for improvement more easily.
  • Once you start analyzing the data, take your time and don’t rush. This is an important step in the process; you want to ensure you do it right.
  •  Try to look at the data from different angles. This will help you to identify any hidden patterns or trends.
  • Be prepared to make some changes based on what you find. The goal of the sales audit is to improve your sales process, so be ready to make some changes if necessary.

How does TeleCRM help you in the process?

TeleCRM can help you in this step by providing detailed reports and analytics of your sales data. This way, you can quickly identify areas that need improvement and make the necessary changes.

4. Prepare a report

This step allows you to document your findings and makes recommendations for improving the sales process. The report also provides a roadmap for corrective action, if necessary.

It is essential to include a list of areas that need further exploration.

The report should be concise and easy to understand, and it should be tailored to the needs of the organization.

Pro tips:

  • Clearly state the purpose of the audit. This will help you focus your findings and make recommendations.
  • Be objective. This isn’t the time to sugarcoat things. Be honest about what you found, even if it’s not all positive.
  • Make recommendations. Your report should include specific recommendations for improving the sales process.
  • Get input from others. Before you finalize your report, get feedback from other sales team members. This will help ensure that your recommendations are realistic and achievable.

How does TeleCRM help you in the process?

TeleCRM can help in this process by providing a single dashboard for all team members. This dashboard shows each team member’s overview and current working status. This is a valuable tool for understanding the current situation and the progress of the rest of the team.

Call reports are another excellent feature of TeleCRM. These reports show the total number of calls made by every caller during a specific period. This information can help understand the sales process and identify areas for improvement.

5. Implement changes

This step is critical because it ensures that the changes recommended in the audit are put into place. Without this step, the audit would be pointless.

This step involves putting together a plan for implementing the changes. It also involves training employees on the new procedures, if necessary. Finally, it consists in monitoring the changes’ results to ensure they have the intended effect.

Implementing changes can be challenging, but it is essential to the success of a sales audit.

Pro tips:

  • Make sure that the changes are feasible and practical. There is no point in making changes that cannot be implemented or would be too difficult to sustain.
  • Consult with stakeholders to get their buy-in. This will help to ensure that the changes are accepted and that they will be implemented effectively.
  • Make sure the changes are communicated to all relevant parties. This will help to ensure that everyone is on the same page and that there is no confusion about what needs to be done.
  • A phased implementation may be necessary in some cases. This means that the changes are implemented gradually to ensure they are successful.
  • Review the changes regularly to ensure that they have the desired effect. This will help to ensure that the audit is effective and that the changes are sustainable.

How does TeleCRM help you in the process?

TeleCRM can help you in this step by providing a complete view of your sales pipeline and performance. With TeleCRM, you can see which sales reps are performing well and which need help. You can also track your sales numbers in real-time and see where your sales process can be improved.

Final Thoughts:

As a sales manager, you always look for ways to boost performance and drive growth. But you’ll never achieve those goals if you’re unwilling to work hard to implement an effective audit process.

An audit of your sales process is essential to identify areas of improvement and opportunity. It can help you streamline your operation, optimize resources, and set clear goals for your team.

Without an audit, you’re just guessing at what might work to improve your sales. And that’s not a recipe for success. So if you want to lead an ambitious, fast-growing team with a compelling growth plan, then having an audit process is absolutely essential.

Article Author

I am an experienced content writer and marketer. With over 3.5 years of experience, I specialize in crafting compelling brand narratives and developing marketing content for diverse industries including B2B, e-commerce, SaaS, and edTech.