The world of sales is messy, but cloud-based channel management solution Channelinsight aims to fix that. By tracking partners, customers, and transactions in real-time, Channelinsight gives technology manufacturers the tools to not only manage their sales, but improve them.
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Channelinsight collects point-of-sale and inventory data from over 4,000 channel partners across the globe, according to CEO Bob Smith. As such, the company processes over $100 billion in channel sales transactions each year. This data allows companies to optimize their sales and inventory more quickly.
In Q3, Channelinsight surpassed goals in terms of adding new clients and generating revenue. With over 400 new reporting partners, Channelinsight grew its partner network by 10 percent. Their expanding client roster includes the likes of Fortune 500 companies such as HP and Intel, and others such as Lexmark and Schneider Electric.
Unlike direct sales, in which companies sell straight to consumers, channel sales is the process of selling through a third party. In the latter case, profits remain high, while sales cost stay low. For a company like Intel, selling through a middleman allows them to move large quantities of product without having to open retail locations.
It is this need to maximize sales to which Smith attributes Channelinsight’s current success.
“Increasingly, companies are leveraging the channel to enhance sales performance,” Smith says. According to him, research shows that 60 percent of tech company revenues come from the channel. “Channelinsight collects, standardizes and enhances channel sales data, providing our customers with the clarity and information they need to effectively grow their channel sales.”
For the Channelinsight team, that focus on building up high tech companies is part of their DNA. “We are a Denver-based company with deep roots in the community. [I have] lived in Denver for most of my life,” Smith says. “[I’m] committed to making Denver the new high tech start-up hub!”
Visit Channelinsight’s website and follow them on Twitter at @ITchannelinsight.
