Handle's UCC Integration and Reporting enables efficient utilization of UCC filings for market insights and reporting.
A challenge for businesses is leveraging UCC files for marketplace insights and integrating it with existing records for more accurate reporting. Not only do you need to be able to access UCC data, you need to be able to update the status of these records to calculate your awareness, participation, close ratios, etc.
You can run imports to refresh your UCC data anytime you want to achieve the following:
- Account Profiles – View the EDA account profile and details in Handle
- Lead Generation – Identify sales opportunities in your accounts
- Automated Follow-up – Create reminders and automated emails based on rules
- Awareness Reporting – Calculate your team’s awareness of sales
- Participation Reporting – Calculate quote participation
- Close Ratios – Accurately measure win-loss rates
- AOR Visibility – Get the big picture of what’s going on in your AOR (maps)
How You Can Use UCC Filings in Handle
UCC filings are made on equipment that has been financed. These records are often used to understand what’s going on with lost sales, generate leads for followup, and track participation by geography and/or sales rep.
For example, your salesperson may have sold five pieces of equipment, but in their territory, 20 were sold. That means your salesperson missed out on 15 opportunities.
With UCC filings, you can gain a clear picture of lost opportunities. But if you import it into Handle and sync it with the rest of your data, you can leverage it to measure awareness, participation, and close ratios.
Handle gives you the ability to add the salesperson, the store, and the status that’s needed to generate these calculations. Any other additional data needed for your specific reporting can be added as well.
Using UCC Data to Understand Sales Performance
The calculations you’ll use to understand performance are awareness, participation, and close ratios. These are base-level calculations that can be further broken down by the category of equipment, county, specific salesperson, store, region, etc.
Awareness
Awareness tells you how many of the purchases in your territory you knew about.
For instance, you might only be aware of 60% of opportunities, participate in 40% of the ones you were aware of, and close 50% of what you participated in.
Knowing this, you can see where salespeople are struggling. If they’re aware of a high percentage of deals, you know they’re talking to people. If awareness is high but participation is low, something is wrong with their conversations. High awareness and low close rate can indicate where the salesperson needs coaching.
The formula for awareness is:
[(Lost Aware + Lost Quoted + Won) /
(Lost Unaware + Lost Aware + Lost Quoted + Won)] x 100
Participation
Participation tells you how many of the sales in an AOR were quoted by your team.
The formula for participation is:
[(Won + Lost Quoted) / (Won + Lost Quoted + Lost No Quote)] x 100
Close ratio
Your close ratio compares won opportunities to total opportunities.
There are a couple of different definitions of close ratio that may or may not include “no purchase,” meaning, the buyer doesn’t buy anything.** The most commonly used is as follows:
[# of won opportunities / (won + lost)] x 100
In a specific time frame
**You’ll need to decide if you’re going to include no-purchases in your calculations.
These metrics can be calculated automatically and can be used in a scoreboard-like report to compare your sales team. Other metrics can be created as well, from the number of quotes created to deals won or lost, or anything else.
Creating a Dashboard to Analyze and Manage Your Data
Managers need to be able to see data across their organization. You can add any metric you want to a Handle dashboard and organize it by location, store, or user. The data can also be filtered by individual users or teams.
In the first column, you can see this screenshot is grouped by location.
But it could also be sorted by the user or store.
Once you’ve chosen the data you want to track, you’ll see the percentages for that selection. And if you want to see more details, you can click on any row to view the individual records behind those percentages.
The dashboard view gives you a high-level perspective sorted by store, user, region, or team. And you only have to click into the details if you want to.
Processing UCC Data in Handle
In order to process UCC data, we need to be able to map the data to the appropriate fields in Handle. For that to happen, we need to export the data in a specific format. This is a five-step process:
- EDA Export
- Handle Import
- Account Linking
- UCC Assignment
- UCC Status
Step 1: EDA Export
When you run the EDA export, make sure you download all the records needed to sync with our system.
Here’s a template with the fields we’ll need to sync your records with our system. It also includes two rows of sample data to show you what it should look like.
**To use the template, make a copy (click File > Make a copy) and delete the two sample rows.
Step 2: Import the EDA Data into Handle
Your next step is to import this data into Handle, where it can be assigned and processed. You can run this import yourself.
Step 3: Account Linking (optional)
If you have the BUYID stored in your business system, we can look those up and link it automatically to the business system or accounting record of the customer. This can then automatically link the record and assign it to the person responsible for updating the UCC status.
If you’re interested in linking your EDA to your business system accounts en masse, reach out to EDA. They have a process to help identify the linkages en masse.
Step 4: UCC Assignment (optional)
You can get the AOR-level reporting without assigning UCC records. But if you want to report at the region, store, or salesperson level, that information will need to be added to Handle, as it doesn’t exist in the UCC records.
While it’s possible to automate this at a certain level, there will be some manual entry required. For example, the county in the UCC record could be used to automatically link it to a region, store, or salesperson.
**Indicating whether it was lost and quoted or lost and not quoted will require input from the salesperson.
You also have the option to drill further:
- You can use the BuyID, as mentioned in Step 3 above.
- Assignments can be left blank, and you can manually assign them.
- You can assign them to a store manager, who then updates the statuses.
- You can assign them to a store manager to distribute them.
- You can assign them directly to the salesperson based on county, ZIP code, or any other criteria.
Step 5: UCC Status
The final and most critical step to reporting is to update the statuses. There’s a way to do this en masse — we walk you through that process below.
You can choose among these UCC statuses:
- UCC (This means it has not been updated yet.)
- No Purchase
- Lost Unaware (No Quote)
- Lost Aware
- Lost Quoted
- Won (Handle can look up the serial number to determine this.)
Once the status has been set correctly, Handle can calculate participation and other key metrics.
Data can also be compiled with existing data from the salesperson, manager, or person responsible for the task. And notifications can be sent to the right people within your organization, so they’re fully aware of new or changed information.
Updating the Status of Records
In this screenshot, you can see an example of a UCC filing that hasn’t been marked lost or quoted yet. The participation field is set to “UCC,” which means the status hasn’t been updated.
Here’s how to update the status of records both individually and as a batch.
Assign Participation: Individual Record
- Click the Participation field.
- When the dropdown opens, select the appropriate value.
That’s it. Handle automatically performs the calculations to bring you the ratios you need.
Assign Participation Reporting: Multiple Records
To change multiple records at once, go back to your original search. On the left-hand side are check boxes.
- Select the records you want to change to a specific participation, such as won or lost.
- Click the Actions button above the list.
- Select “Mass Edit.”
- When the popup opens, you can set the status for all selected records.
Automations Based on Participation
With the deal status applied to UCC records, you can generate automations to follow up when appropriate.
You can add an automation step, such as following up on lost accounts, either in the import process or after you’ve updated a record. This can be as simple or complex as you like — creating a complete workflow based on your EDA data.
As an example, you can create reminders based on EDA data, such as setting up a follow-up just before a lease or warranty expires.
This makes followup easy because all of the data is here, including equipment type, model, and important dates. You’ll need to have an intelligent discussion with the customer or prospect. It’s just a matter of knowing what happened with that record to determine what the next steps should be.
Ready to get started? Contact us at https://texadasoftware.com/support/ to let us know how you’d like to configure your UCC file import and workflows.