Sales reports, what is? How to report sales revenue STANDARD with Model

Sales reports privacy is important tool to help businesses control, revenue analysis, consumer trends, optimize business strategy. So, sales reports, what is? How to report accurate, has high applicability?

In this article Lac Viet Computing will go deep into how reporting sales revenue analysis, key indicators, the application technology such as AI and ERP software to automate processes and help businesses not only track sales but also trend forecasting, optimization, sales strategy enhanced business performance.

The same theme:

• Liabilities reported customer
• Report production costs

1. Sales reports, what is?

Sales report is the synthesis of data about the situation of business, including sales, product consumption, customer performance sales team, distribution channels.

Sales reports is an important document to help businesses track, analyze and assess the situation, sales, products sold, customers, and business performance in a certain period of time. This is an indispensable tool in management, corporate finance, decision support, strategy, optimize cash flow, adjusted sales plan to improve profitability.

Reported sales revenue can be set by day, week, month, quarter, or year, depending on demand, scale your business. Data from this report to help businesses understand business performance, predict trends, consumption, and improve marketing strategies, sales.

For example, A business e-commerce can use to report sales revenue to determine which products have the highest sales under each crop, from which the optimized plans to enter the restaurant, implement the promotion match.

2. Why need to be reported sales? The role of reported sales with business?

Sales reports play an important role in management and business development. This is not just tracking tool revenue that also helps to analyze business performance, market assessment, optimization, sales process, given the strategic decisions.

2.1 Provide accurate data support leadership in decision-making

Sales report synthesis of key metrics such as turnover, number of products sold, profit, employee performance... help business get a holistic view of the business situation.

• Help leaders monitor the financial health of the business.
• Detect trends, growth or decline of sales.
• Ensure data transparency, support, control financial risks.

Sales report provides actual data help the leader board reviews to take the right decisions, avoid depends on the feeling.

• Help the CEO, chief financial officer business plan cash flow projections. There should expand the market or cut costs?
• Support the marketing department in the formulation of the strategy effective advertising. Products any need to promote marketing products should stop trading?
• Support business adjustment method of consistent sales. Distribution channels are bringing in the most profitable?

2.2 evaluate sales performance improve work performance of staff

Sales reports help business analysis work performance of each employee, department, business department, the effectiveness of the sales channel.

• Help determine the salesman, to reward.
• Identify the area or channel sales less effective to improve.
• Support policy formulation roses, motivational, work for employees by policy, bonus transparent
• Set Sales KPI based on actual data.
• Orientation staff training less effective.

2.3 trend forecasting future business

The analysis of data from sales reports to help businesses identify consumer trends, revenue forecasts to plan effective business.

• Forecast market demand, to optimize production, inventory management.
• Identify the buying behavior of customers in order to personalize the marketing strategy.
• Given pricing strategy tailored according to each stage.

For example, A fashion brand can use to report seasonal sales to predict patterns clothes how will selling next year and adjust plans to enter the restaurant.

2.4 optimized inventory management helps financial control, optimal profit

Sales reports help businesses control the goods, avoid the excess or deficiency of the products.

• Determine which products selling to increase order entry.
• Minimize inventory, avoid losses, costs of storage.
• Adjustable promotion strategy for the product backlog.

Sales reporting helps businesses control cash flow calculation, the cost optimal profit by:

• Evaluate the profit margin on each product/service.
• Control operating costs based on sales effectiveness.
• Adjust pricing strategy to optimize revenue profit.

3. The type of report templates sales popular in the business

Depending on management needs, businesses can set up many types of sales reports different to analyze every aspect of business activity. Here are a number of important reports:

3.1 revenue reports, daily sales, monthly, end of year

Purpose:

• Track total sales in a specific period of time.
• Analysis of revenue by each product, region, store or distribution channel.
• Support business measuring growth rate, determine the cause of change in sales.

For example: A manufacturing enterprise can use this report to evaluate revenue by each product segment and adjust the production strategy.

Content should be in the report:

• Total revenue in the period (day, month, year).
• Revenue by product/service.
• Revenue by region or branch/store.
• Sales by each sales channel (offline, online, agents,...).
• The chart shows trends in revenue, over time.
• Comparison of revenues for the same period of the previous.
• Analyze the causes of increase/decrease in sales.

3.2 performance report, sales by staff

Purpose:

• Evaluate work performance of each employee business based on the sales they bring.
• Helps business identify outstanding employees need to reward and the staff need more training.
• Support policy development commission, bonus, sales, strategy development, sales team.

For example, An insurance company can use this report to identify employees whose rate pegs the highest contract, employees who need to improve skills in consulting.

Content should be in the report:

• Sales of each employee.
• Number of orders or contracts signed.
• Rate pegs single/consulting success.
• The average revenue per transaction.
• Performance analysis in each period (day, week, month, year).
• Performance comparison between the staff.
• Proposed measures to improve performance.

3.3 sales reports by customer

Purpose:

• Track purchase behavior of customers including the frequency of purchases, average value orders, favorite products.
• Helps business identify potential customers, build program customer care personalization.
• Business support grouping of customers to deploy marketing strategy more effective.

For example, A supermarket chain can use this report to determine which customers buy most often, and send deals personalization to retain them.

Content should be in the report:

• Customer lists, personal information.
• Purchase history: number of orders, the average value per unit.
• Favorite products of each group of customers.
• Frequency of purchase and the shopping trend.
• Grouping customers by revenue contribution.
• Proposed care strategy to retain customers.

3.4 sales reports by product/service

Purpose:

• Product analysis how hot selling products, which have low sales.
• Help businesses make decisions about the add, modify, or remove the product.
• Support pricing strategy , optimize product portfolio.

For example, A fashion brand can use this report to see sample any clothes best selling and enhance the production or import of goods.

Content should be in the report:

• Sales of each product/service in the states.
• The rate of growth of revenue by each product.
• Best selling products, and products of high inventory.
• Trend chart sales under each product line.
• Revenue comparison by stage or promotions.
• Proposed correction strategy product portfolio.

3.5 report sales by distribution channel

Purpose:

• Evaluate the effectiveness of each sales channel as traditional outlets, e-commerce, dealers, floor, e-COMMERCE (Shopee, Lazada, Amazon,...).
• To help businesses determine which channels bring the most profitable to focus development resources.
• Support decisions about expanding or narrowing of the distribution channels less effective.

For example, A cosmetic company can use this report to compare sales performance between own website, flooring, ecommerce, from which the optimal budget marketing for each channel.

Content should be in the report:

• Sales according to each distribution channel.
• The profit margin on each channel.
• Conversion rate customers under each channel.
• Cost of investment in each channel and ROI (Return on Investment).
• Trends change in revenue over time.
• Proposals to expand or narrow the distribution channel.

The sales reports not only help business track business performance, but also are important tools for decision-making strategy. Each type of report provides the perspective in-depth about a specific aspect such as revenue, employees, customers, products, distribution channels. The construction reporting complete and accurate will help businesses improve sales performance, optimize product portfolio and enhance customer experience.

DOWNLOAD THE SAMPLE REPORT SALES FOR THE BUSINESS

4. Instructions for setting up sales reports professional STANDARD

Sales reports are important tools to help businesses control revenue, optimize sales performance, financial forecast. To set up a revenue report accurate sales, businesses need to follow specific steps to ensure data is complete, accurate, valuable in decision-making.

Step 1: Define the objective of the report

Before reporting, businesses need to identify the main purpose to choose the type of report accordingly. Here are some common goals:

• Track overall revenue to Help businesses capture the total time revenue, by product or by business area.
• Reviews employee performance business: analysis of the productivity of the sales team, to give policy, reward/punishment fit.
• Optimized product portfolio/service: Determine which products hot selling products, which have low demand to adjust business strategy.
• Forecast consumer trends: Based on sales data history to build strategic long-term growth.
• Optimized sales channels: performance analysis sales according to each channel such as direct, online, agents, distribution partners.

Identifying clear objectives to help businesses collect the right data, focusing on the key metrics and optimize business strategy.

Step 2: collect data sales

A report accurate sales must be based on sufficient data updated in real time. Businesses need to collect the type of data following important:

• Data sales: Total sales according to each product, service, region, customer.
• The number of products sold: Each item is consumed, how many in a specific time period.
• Customer information: shopping behavior, frequency of purchases, average value per order (AOV – Average Order Value).
• Sales channel: sales performance across different channels (store directly, e-commerce, dealers, wholesale).
• Value gross profit: profit margin analysis on each product to evaluate business efficiency.
• Reimbursement rate goods: track the number of orders is refunded to determine the cause, improve the quality of service.

Businesses can collect data through the POS system (Point of Sale), software management sales, CRM (Customer Relationship Management) or ERP (Enterprise Resource Planning) to ensure the accuracy and updates in real time.

Step 3: data analysis, reporting

After collecting data, businesses need to conduct analysis to transform raw data into valuable information to help optimize business strategy.

• Compare sales over time, by region, by product: Determine what stage strong sales growth region that has the highest demand.
• Speed analysis revenue growth: revenue comparison between the states to evaluate the effectiveness of sales strategies.
• Product reviews hot selling products have low sales: Support business decision to extend or remove the category the product ineffective.
• Determine the net profit/ gross profit margin to Help businesses optimize cost, enhance pricing strategy.
• Conversion rate customers (Conversion Rate): rate the effectiveness of each sales channel in attracting retaining customers.
• Forecast sales future: Based on historical data to make forecasts about buying trends to shop, from which optimization plan import production.

For example, A retail business may have noticed that product A has A sales rose sharply in the summer, while product B selling more than on the occasion of the new year, from which it plans to enter every reasonable to avoid excess inventory or shortage of goods.

5. Common mistakes when reporting sales revenue

Many businesses still encounter these common mistakes in the reporting process, leading to business decisions, lack of precision affects financial performance. Here are some common errors and how to fix it.

5.1. Errors in data entry, causing false data revenue

• The clerk entered the wrong figures in revenue due to the fault operation or recorded incomplete data.
• Teen, update order, the transaction has not been recorded promptly in the system.
• Management system sales't sync with accounting software, leading to the difference data between the parts.

Consequences:

• Businesses do not have accurate view of the situation, sales, leading to financial forecast deviations.
• Financial statements may be faulty, causing difficulties in the process of settlement, tax report.

Solution:

• Automate the process of data entry: Use the software manage sales or integrated ERP system to update data in real time.
• Use technology to scan barcode or QR code: restrict data input by applying recognition technology, the product automatically.
• Control cross between the parts: the set up process for control between sales, accounting to ensure accurate data before reporting.

5.2. No data analysis in depth

• Just track the total revenue that is not analyzed in detail according to each product, customer, or region.
• Do not apply the analysis tools in-depth data to detect consumer trends.
• Report focus only on current data, without analysis, comparison with historical data.

Consequences:

• Business can not clearly identify the cause of changes in sales, is difficult given business strategy accordingly.
• Undetectable selling products or groups of potential customers to optimize product portfolio.

Solution:

• Apply tools to analyze data in-depth: Using BI (Business Intelligence) to mining sales data, detect trends, customer behavior.
• Create detailed reports according the category: analysis of revenue by product, region, business personnel to identify factors that impact sales.
• Use pattern trend forecast: combined analysis of historical data to identify consumer trends, tuning business plan.

5.3. Does not track sales performance according to each channel

• Business doesn't separate sales data in each channel as shop direct, ecommerce, distribution partners.
• No tools, performance measurement, sales channel, leading to the allocation of budget marketing is not effective.

Consequences:

• Business is not able to accurately assess the sales channels are most efficient.
• Leads to the wrong investment into the channel inefficient, wasting resources budget.

Solution:

• Use the report sales by distribution channel: track sales according to each channel to determine which channels are contributing the most to the revenue.
• Analysis of ROI (Return on Investment) of each channel: compare the cost of investing in each channel profits to optimize strategic resource allocation.
• Integrated multi-channel in a management system: combined data from the website, flooring, ecommerce, offline stores in a single platform in order to have a comprehensive view.

5.4. Do not forecast trends, sales

• Just focus on the current data without the use of tools for analysis and forecasting sales.
• Do not track consumer trends, changes in customer behavior, the impact of market.
• There is no strategic long-term forecasts to adjust plans to enter orders, manage inventory.

Consequences:

• Business difficulties in the planning of business due to lack of forecast data.
• Leads to a situation of excess inventory or shortage of goods, affecting cash flow and profit.

Solution:

• Apps, AI, and big data (Big Data) to forecast sales more accurately: data analysis, history, consumer trends, seasonal factors to forecast demand for purchase.
• Use model forecast analysis (Predictive Analytics) to Help businesses look before about the trend of sales in the future to optimize business plan.
• Combining market data to make predictions more accurate: track industry reports, customer behavior, technology trends in order to adjust the strategy accordingly.

6. Finance AI Agent of Lac – application of AI in the analysis of sales revenue

Finance AI Agent of Vietnam is a solution app artificial intelligence (AI) in financial analysis, sales, helps businesses automate processes, sales reports, trend forecasting, business optimization, strategic selling price. This tool not only helps businesses track sales in real time, but also provides accurate data for quick decision making more effective.

Compared with the traditional methods, Finance AI Agent brings the breakthrough thanks to the ability to handle big data (Big Data), machine learning (Machine Learning) and automation of financial analysis.

6.1 The main features of Finance AI Agent in sales reports

Automatic analysis of revenue by real-time

• Finance AI Agent continually updated, analyze sales by day, week, month, or according to each sales campaign, to help businesses to have an overview of business performance.
• Businesses can track sales performance according to each product, each employee or each region, from which adjust sales strategy in a timely manner.
• The system allows for comparing sales between the different time intervals, detect the change and causes the impact to revenue.

Forecast sales trends based on historical data

• Finance AI Agent has the ability to analyze sales data in the past to forecast consumer trends in the future.
• AI uses predictive models to determine which products tend to sell running into each season, thus helping the business plan import more accurate.
• The system can also analyze the purchase behavior of customers and help businesses take out marketing campaigns to suit each group of potential customers.

The proposed optimization strategy, selling price, and distribution channels

• Finance AI Agent can analyze the effectiveness of each sales channel, help businesses determine which channels bring the most revenue to focus resources.
• The system can propose the optimal price based on customer behavior, status, inventory, market prices, to help businesses increase profitability without compromising competitiveness.
• ONE can assess the impact of these promotions, discounts and give recommendations about how to allocate budget marketing most affordable.

6.2 Benefits of Finance AI Agent for enterprise

• Save time, human resources, Finance AI Agent automatically collects data analysis, reporting, help businesses minimize time and handling optimized human resources.
• Quick decisions more accurate: Thanks to data analysis in real-time, businesses can capture sales trends timely, to avoid loss of business opportunity.
• Reduce errors in the sales report: AI helps automate the process of collecting, data processing, minimize errors due to input manually.
• Optimized trading strategy: Finance AI Agent to help businesses make decisions based on data, instead of relying on sentiment, thereby improving business performance.
• Forecast accuracy improves business plan: With the ability to analyze historical data, make forecasts, businesses can plan, finance, marketing, the more accurate help optimize cash flow, control costs effectively.

In the digital age, business know how to leverage the power of data and technology in the sales reports will have a competitive advantage superior help optimize business performance, improve cash flow and direction to sustainable growth. Let's start application report sales revenue in a smart way today for your business, you are always leading in the market!