How to Use Better Proposals Reports to Your Advantage

The fact that the quality of your proposals means the difference between winning and losing a deal isn't lost on you. That's probably the main reason you've decided to switch from outdated document editors to Better Proposals.

But when you made that switch, you didn't just get modern, responsive documents with eSignature functionality. You also got the tools you need to keep improving your sales pitches.

That said, to use a tool effectively, you first need to know how it works. Today, we'll cover everything you need to know to interpret the reports you can generate inside Better Proposals.

3 types of reports you can generate with Better Proposals

To access your Better Proposals reports, start by clicking on the graph icon in the left sidebar.

Once you've done that, you'll see the report generation screen that lets you input a date range and the type of report to generate. You can generate three types of reports:

• Company report
• Team report
• User report

1. Company report

The Company report is the most detailed report you can run. It gives you a full overview of company performance, including:

One-off sales

This section of the report shows you the total of one-off sales you've made in the selected time period. This includes all documents that have been signed or accepted by the client, as well as those marked as Accepted manually.

By comparing different time periods, you can spot patterns such as peak sales periods or slow months throughout the year. This helps you see whether there are inconsistencies that need improvement or if your sales are affected by seasonality, for example.

Monthly recurring revenue (MRR)

Your monthly recurring revenue represents the predictable revenue generated every month. By keeping an eye on your MRR, you can see your business' growth (or lack of) in real time.

Since you're working with month-to-month data here, you can use it to forecast future revenue. This helps you keep a sustainable budget for things like marketing or hiring, and also shows you when it's a good idea to invest in growth.

For example, if you're consistently generating new MRR, it's a good time for entering a new market or adding new products or services. If your MRR is stagnant, you might need to adjust your pricing structure or do more upselling and cross-selling.

Quarterly recurring revenue (QRR)

Similar to MRR, quarterly recurring revenue is the predictable revenue generated every business quarter. QRR is especially useful for businesses with longer sales cycles, as it gives you a wider picture of revenue trends than MRR.

You can use QRR to track the long-term growth of your business and discover patterns that might not be visible in monthly data. For example, besides better budgeting and resource allocation, QRR can help you assess the impact of changes over time.

Let's say you've made changes to your pricing to adjust for higher costs of, well, everything these days. The impact of this change will most likely not be visible the next month, but will develop gradually.

By keeping track of your QRR, you can assess the impact of the pricing adjustment. If your QRR isn't where you thought it would be, chances are you need to take a look at your customer retention strategies.

Annual recurring revenue (ARR)

If you want the biggest picture possible, you'll want to look at your annual recurring revenue. Since it's a measure of growth year over year, it's the best indicator of your company's financial health and growth potential.

It's also a great starting point for strategic planning, financial forecasting, and setting realistic sales goals. For example, if your ARR shows steady growth, it might be a good time to expand or enter a new market. But if your ARR is stagnant, it might be time to evaluate how competitive your business is in your industry.

Document statistics

While document statistics aren't a financial metric, they still give you insight into your sales process. By comparing how many documents were sent and signed, you can see just how (in)effective what you're sending is.

To help you do that, you also get your conversion rate and the average time it takes clients to sign. The reason this data is included is because it helps you improve your sales strategy.

For example, if you notice a low conversion rate or a long average signing time, your documents are too complex, unclear, or not compelling enough. On the other hand, a high conversion rate and quick turnaround time mean that your documents are well-crafted and persuasive.

*Note that documents approved manually are excluded from the Average Time to Sign stats.

Template statistics

Sure, your Document statistics give you a general overview of how successful your documetns are with clients. Template statistics, however, take it to a whole other level.

This section shows you which one of your templates are performing best and worst. This means you know exactly what needs improvement and what's working.

Team performance

As the name suggests, this section shows you how well the teams you've set up inside your account are performing. You get the total sales, how many documents were sent, how many signed, and what the conversion rate is.

Next to each team name, you also have the manager listed. That way, if you notice a team underperforming, you can reach out to the manager to work out the cause and start resolving potential issues.

Individual performance

In addition to team performance, you can also see individual performance for each sales rep. This allows you to identify top performers, as well as those who may need additional support or training.

Revenue by product

Last, but not least, if you've set up your products and services database in Better Proposals, you can also see how much revenue each one is bringing in. This allows you to identify the most profitable and underperforming products and services.

With this data, you can adjust your offer, potentially discontinuing some items and investing more in others. Or, maybe it's just time to think about how your pricing aligns with market trends.

2. Team report

When running a team report, you can choose which team you want to run the report for, as well as the time period. If you have managers set up, this is a great way of letting team managers track performance while keeping global data private to the administrator.

The team report comes with the same sections as the Company report, but doesn't show all data available in Better Proposals. Instead, it only shows revenue, document, and performance statistics for one specific team.

3. Individual report

Just like the Team report, the Individual report doesn't show global company data. You choose the time period and the team member you want to run a report on, and see only their individual performance under the same categories as in the Company report.

Let's run some reports!

The only way to make informed business decisions is to rely on data. You already have it inside your Better Proposals account, so why not use it?