For almost 15 years, the corporate world has been using customer relationship management (CRM) as a critical tool to drive sales and income growth. It is an approach to managing a company’s interaction with current and potential customers, using data analysis about their history with a company to improve business relationships, specifically focusing on customer retention and ultimately driving sales growth.
While this remains a critical tool in the sales playbook, corporate spending on newer innovative sales technologies appears to be growing. Terry Tillman, the lead software analyst at SunTrust Robinson Humphrey, and his team see a new software adoption cycle spurred on by the new era of innovative sales technologies. They said this in their report:
While operational systems such as CRM and marketing automation will remain critically important to providing a single source of truth related to sales and customer dynamics, we believe increased technology spending will gravitate to sales technology tools with a quick hard-dollar return-on-investment around increasing lead flow, sales rep productivity and engagement with sales targets, and ultimately closing more business. There are a variety of newer technologies we see sales leaders and marketers investing in across sales enablement, sales engagement, go-to-market intelligence.
While the analysts have plenty of stocks rated Buy in the software arena, here we focus on four well-known companies that they feel have 30% or more growth potential. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
This is a recognized leader in what is called sourcing applications. Coupa Software Inc. (NASDAQ: COUP) provides a unified, cloud-based spend management platform that connects organizations with suppliers globally. The company offers spend management cloud applications that are pre-integrated. The platform offers consumerized financial applications.
The Coupa Software platform offers consumerized financial applications. Its spend management suite includes procurement, invoicing, expenses, sourcing, inventory, contract lifecycle management, budgeting, analytics, open business network, supplier information management and storefront.
The platform offers features, such as procure-to-pay solution; online invoice management, and inventory management and tracking software system. Its solutions for business needs include financial compliance and mobile productivity. The company’s solutions for enterprise resource planning include Oracle and NetSuite. Coupa offers solutions for industries, including financial, health care, oil and gas, retail, technology, and food and beverage.
The SunTrust price target for the shares is $240, and the Wall Street consensus target is $282.36. Coupa Software stock closed trading at $277.04 on Tuesday.
Investors may not be fully aware of this company, but its shares have big upside potential. Everbridge Inc. (NASDAQ: EVBG) is a cloud provider of critical communications and enterprise safety applications, including emergency notification, incident management, information technology alerting and secure messaging. The core emergency mass notification system enables organizations to communicate with employees, law enforcement, suppliers and other third parties over secure, reliable infrastructure across multiple communication channels (phone, text, email) in the event of local or organization-specific disasters.